what if?

beelucky

im having second thoughts about going b/r for the following reasons....

1, i live in a housing assoc property

2, i owe 16k, all unsecured

3, im long term disabled

4, they cant have what i havent got.

if i stop paying my creditors the most they can do is take me to the county court, which for me would be a good result. at the worst they may pester me on the phone (maybe change number?) or turn up on my doorstep. either way i will not find this intimidating, in fact id quite enjoy it in a funny sort of way. they will get fed up before i do. if they go down the county court route then they would only be awarded a tiny sum each month, which is ok by me. (also interest stops once its been to court, i think?) so what is the best thing for me to do? i have spoken to the CAB and they rec b/r, but i can think of better things to spend £335 on right now.

im in a quandry as to the best course of action, do i b/r and draw a line under it all, or just deal with all the aggro infinitumn?
your advice please folks.

rog2

beelucky wrote: »

im having second thoughts about going b/r for the following reasons....

1, i live in a housing assoc property

2, i owe 16k, all unsecured

3, im long term disabled

4, they cant have what i havent got.

if i stop paying my creditors the most they can do is take me to the county court, which for me would be a good result. at the worst they may pester me on the phone (maybe change number?) or turn up on my doorstep. either way i will not find this intimidating, in fact id quite enjoy it in a funny sort of way. they will get fed up before i do. if they go down the county court route then they would only be awarded a tiny sum each month, which is ok by me. (also interest stops once its been to court, i think?) so what is the best thing for me to do? i have spoken to the CAB and they rec b/r, but i can think of better things to spend £335 on right now.

im in a quandry as to the best course of action, do i b/r and draw a line under it all, or just deal with all the aggro infinitumn?
your advice please folks.

I think you have answered your own question, bl.
Despite the advice given by CAB, you feel that you can live with the consequences of debt collector harassment, County Court Judgements and Doorstep visits by bailiffs.
In which case, bl, I will be the first to admit that you are a 'stronger person than I' and obviously not in need of any advice or support that this forum can offer you.
Enjoy spending your £335.00.

wherediditallgo

beelucky wrote: »

im in a quandry as to the best course of action, do i b/r and draw a line under it all, or just deal with all the aggro infinitumn?
your advice please folks.

The best thing for you to do is weigh up the pros & cons of going BR in relation to your own circumstances. None of us can tell you whether BR is the right thing for you, but if you contact free advisory services such as the CCCS & National Debtline, they'll give you advice which you can then decide what to do with.

What I can tell you for free is that it's not all about money. If it had been, many of us who have gone BR wouldn't have done so. There comes a point when the amounts of money involved are just numbers on a sheet of paper that you can choose to look at, hide in a drawer or throw away unopened. It's not the amounts that do you in - it's the additional weight of stress on the family/yourself, illness, lack of sleep, creditors ringing or writing etc that can really pull you under. I think you should give your debts more thought before making a decision either way.

beelucky

rog 2
im just trying to get my head round what the consequences are for both options. btw, would i be right in saying that baillifs only get involved after its been to court and i default on any payments the court have deemed appropriate?

no, im no stronger than anyone else, but i do have a positive mental approach to these sort of things. i do accept that not everybody is the same and i was in no way trying to come across as arrogent or anything silly like that
regards dennis.

rog2

beelucky wrote: »

rog 2
im just trying to get my head round what the consequences are for both options. btw, would i be right in saying that baillifs only get involved after its been to court and i default on any payments the court have deemed appropriate?

no, im no stronger than anyone else, but i do have a positive mental approach to these sort of things. i do accept that not everybody is the same and i was in no way trying to come across as arrogent or anything silly like that
regards dennis.

Other than for Council Tax, and certain crown debts, bailiffs are only used as a result of county court action.

Yes, your post did come accross, to me at least, as possibly arogant, but I may be misreading the situation.

If you are looking for advice, I would say that you have, by talking to CAB, taken the first piece of advice that I, and others, would offer.

As for further advice, I would say that Bankruptcy would appear to be your best option, precisely since you are in the position that you are, i.e.

1. Housing Association Property, where there is no risk that you will be evicted as a result of bankruptcy and you have no beneficial interest for OR to take, then bankruptcy WOULD draw a line under ALL of your debts, WITHOUT the hassle of facing up to Debt Collectors, Bailiffs etc.

2. I assume, since you talk about the '£355' fee, that you are, or may be, living on benefits. These would NOT be affected by bankruptcy, NOR are you likely to receive an IPA/IPO from the OR.

3. The Bankruptcy Period lasts, normally, up to 12 months, maximum, although, provided there is no implication of fraud, or other serious implication, you would be likely to be discharged before the 12 months are finished.

4. Your current creditors could no longer pursue you for any of your current debt.

Richard_S

beelucky wrote: »

rog 2
im just trying to get my head round what the consequences are for both options. btw, would i be right in saying that baillifs only get involved after its been to court and i default on any payments the court have deemed appropriate?

no, im no stronger than anyone else, but i do have a positive mental approach to these sort of things. i do accept that not everybody is the same and i was in no way trying to come across as arrogent or anything silly like that
regards dennis.

Hi dennis,

I can think of lots of things I'd rather spend £335 on, but peace of mind and tranquility has got to be worth something. Once your original creditors have got bored with you they'll sell the debt on and the DCA's will never get tired of harrassing you.

As Rog has said, there's virtually no downside to declaring bankruptcy in your position and it'll certainly mean you're left in peace.

Richard

Conor_3

beelucky wrote: »

if i stop paying my creditors the most they can do is take me to the county court, which for me would be a good result. at the worst they may pester me on the phone (maybe change number?) or turn up on my doorstep. either way i will not find this intimidating, in fact id quite enjoy it in a funny sort of way. they will get fed up before i do. if they go down the county court route then they would only be awarded a tiny sum each month, which is ok by me.

Interest doesn't necessarily stop at court and they can have fees/costs added as well.

Actually, they're not obliged to accept a small payment for a large debt and can apply for a walk in posession order. This then means the bailiffs can break into your house if needs be and removed goods and any car you have. Once the stuff is sold for a pittance, they can then keep returning periodically to remove anything else you've bought in the meantime. Don't forget that whilst all of this is going on, fees are being added to the debt. DEBT COLLECTION AGENCIES DO NOT GIVE UP - EVER and they have "ways" of ensuring your neighbours know that they're chasing you. You'll be the one sick of them. It won't only be you that they'll pester but anyone living at the address.

They can also apply for an order to be attached which would take money directly off your benefits.

You could keep changing your phone number but this costs £10 a time.

The hassle could affect any relationship you have and end up with your wife/husband etc walking out and taking the kids. You'd not have a leg to stand on in any custody battle because of your debts.

beelucky

point taken, it may be time for a rethink.

a couple of things im not sure about though, when filing online do you just fill the forms in and send them as an e-mail attachment, or do you just print them off then phone the court for a date to present them to the court in person along with the fee, this could be difficult for me as i have severe mobility problems.
anyways ill concentrate on my soa for now and post them up and id be glad of your opinions.
cheers dennis.