Preparing for bankruptcy - questions!

blondieblond

Hi all,

I have been lurking for a good while on here but this is my first ever post and Im hoping for some help:o
I am currently preparing for bankruptcy and saving for the fees ( I was originally on a DMP but my situation has changed) I am planning on paying token payments to my creditors while I save the fees, would it be ok to write to my creditors to advise them of my plans to go bankrupt and to offer the token payments?I am already starting to get the calls which I have so far managed to avoid, so also want to ask them to contact me by letter rather than calls!
Thanks in advance for any advice

sniggings

Your best bet, as it sounds like you haven't already done this, is to get advice from a help line, such as CCCS, CAB or debt helpline, I used CCCS , they gave me solid advice, they will hear all your details so can give the best advice, it's all part of the BR process, the judge will ask if you have gotten this advice and can stop your BR if you haven't , so best do this first.

Without knowing all your debts/details it wouldn't be wise for anyone here to give you advice to not pay a bill, but what I can do is say that the advice I was given from CCCS was to only pay token payments after I have covered all my living costs, court fines and council tax, i.e all the bills you need to live and stay out of prison, the rest can either take a token payment or £0.

As for telling them, in my experience, no point as they either ignore it or pester you more, just change your phone number or get caller ID, if you do pickup by mistake, do not answer their security questions so they can't talk to you, or just put the phone down.

If you do set up token payments (I never did, did not have the funds to and my BR was quite quick after I decided BR was for me...oh and also I didn't fancy talking to them as I knew I wouldn't get very far) remember not to setup a direct debit for any token payments as they have control, so can change the amount, not you, either ask for a payment book or setup a standing order, where you have total control.