CCJ or Bankruptcy??

rugby_maniac

I currently have a CCJ for about £12,000. without boring you with all the detail i got it because i was working self employed for a company and they didnt pay my wages for about 4 months. they kept saying they were also waiting for money from their customers so they didnt have to money to pay me. i couldnt pay my loan installments and ran up a big credit card bill because i had no money coming in.

i called my loan provider nearly every week telling them the situation, after about 3 minths they sent me a letter saying i was messing them around and they were taking me to court. when the ccj came i explained situation with my employer but still got the ccj.

so now that is on my credit file for the next 5 years. i was planing to buy a house with my partner next year but that doesnt look very likely. also i found it hard to get a bank account and all ive got now is a card cash account.

so my question is....is it better to stay with the CCJ for the next 5 years or go bankrupt for a year? as i was told after that year you can start again, or be it start building your credit up from the bottom again

many thanks in advance

philnicandamy

try getting some specalist advice first from

https://www.payplan.com 0800 917-7823 (payplan)

https://www.cccs.co.uk 0800-138-1111 (consumer credit councelling service)

http://www.citizensadvice.org.uk/ (local offices listed on website)

both these contacts are free debt charity helplines, they can look at your incoming & outgoings and suggest a course of action

Bear in mind though you could be discharged from bankrupcy as early as 6mnths BUT the BR will stay on your credit file for 6yrs so making credit difficult to obtain you can start building up your credit after bankrupcy but its a slow slog

rog2

Have posted in your thread on DFW, but, basically same advice as philnicandamy.
Good Luck.

rugby_maniac

Thanks, ill get onto them numbers asap.......many thanks