Paying The Creditors

wherediditallgo

brickhouse wrote: »

I had very helpful chats with a lovely young man at CSSS. You'd have thought we were in this mess together, he was so helpful and patient. I didn't feel like one of I guess thousands of people ringing in. It was great but the consensus was non-conclusive.

Encouraged, I then rang the National Debt Help Line. I was ab it alarmed at all the questions I had to answer first and wished I'd phoned on a withheld number. They wanted chapter and verse. I pointed out that the damage was done, I was already bankrupt so the question of priority and credit debts didn't come into it now. But she did say, after consulting with a colleague, and without a shadow of a doubt, that I could not negotiate a settlement once made bankrupt. So, at least I know that.

I'm very surprised at the NDL response. The Insolvency Service site says "An FTVA is a binding agreement with your creditors to pay all or part of the money you owe them. You can only enter into it after you have been made bankrupt." As it's something only available once someone is BR, I'd have thought it would be something they'd discuss with you. Did she say it wasn't available because of the sums of money involved, or was she saying only full settlement is available not partial regardless of the amounts of money?

fermi

wherediditallgo wrote: »

I'm very surprised at the NDL response. The Insolvency Service site says "An FTVA is a binding agreement with your creditors to pay all or part of the money you owe them. You can only enter into it after you have been made bankrupt."

I'm a little surprised as well WDIAG, but it is clear that while advice organisations like NDL CCCS and CAB are very good for 'general' advice, they are sometimes tripped up/mistaken with regards to the finer points of insolvency law or procedure.

I think in this case there is no substitute to contacting the Insolvency Service directly.

Enquiries on general 'points of principle' can be made on 0845 602 9848.
However, only the OR's office dealing with your case can comment on individual circumstances.

brickhouse

Thank you, guys. I shall phone the Insolvency Service. I want to make one off payments to the creditors, and have it over and done with, rather than entering into an agreement. The Fast Track (I may be mistaken) is a system of payments. I'll phone and see what the help line says.

BrickHouse

rog2

brickhouse wrote: »

Thank you, guys. I shall phone the Insolvency Service. I want to make one off payments to the creditors, and have it over and done with, rather than entering into an agreement. The Fast Track (I may be mistaken) is a system of payments. I'll phone and see what the help line says.

BrickHouse

Good luck BH - let us know what they say. :beer:

brickhouse

I just noticed that you had a question that I hadn't answered.

He said only full settlement as I was expected to settle my debts, not pay part of them. I did stress that I was merely going to exercise an option of partial payment for a final settlement that was offered to me in the past. But I was led to believe that post bankruptcy, everything changes.

I just rang the Insolvency helpline and was referred back to the Office dealin with my case for clarification. I don't see the point since they'd made clear what their position is on this. I just wanted to be sure this was not just one person's interpretation, before I pay over the odds when I could have paid a lot less.

BrickHouse

wherediditallgo wrote: »

Did she say it wasn't available because of the sums of money involved, or was she saying only full settlement is available not partial regardless of the amounts of money?

brickhouse

I am drafting the letter to the creditors. I am basing it on the National Debt Help Lines Full and final payment settlement offer template, but amending it to reflect a full payment. But what is really cheesing me off big time is the fact that I just looked at another letter written to one of the Creditors (Connaught) last year (the same letter went out to all of them) and one in particular did not reply. I can see why. I had asked them to confirm the following:

1. An explanation of what the money I allegedly owe is for
2. The amount of the debts
3. The name of the creditors
4. An account, explaining how you calculated what you allege that I owe
5. Copies of my Credit Agreements or documents which form a basis for the alleged debt
6. Details of action taken on these accounts
7. Details of payments I have made on these account along with offers of re-payment

I can see now why they did not reply, but instead resorted to terrorising my mother (aged 68) at her retirment home with letters and phone calls. How they ever got her address and phone number and linked it to me still puzzles us to this day. She lives in sheltered accommodation and there is no way I have ever lived with her. Indeed, I had already defaulted on these debts before she moved to this address. But they chose to ignore my letter (sent by recorded delivery and signed for) and switched their efforts to her, telling her I had used her name and details to take out credit - which really upset her as she had always trusted me and now had a stranger telling her I'd done these things. I still have the text message she sent me telling me she felt like killing herself. A nice text message to get from one's mother.

So it really grates on me to have to pay them in particular the full amount.

BrickHouse