informing creditors

chrisindebt

hi, both me and my wife are going br and this month we have not been able to rob peter to pay paul so the letters and phone calls are starting, should we inform all our creditors that we are in the process of going br or do we sit tight. we are starting to fill in the br forms this week but still dont have an appointment date from cab we have been in three times now but they said it could be the middle of september before we can see anyone. some advice would be appeciated.

rog2

CHRISINDEBT wrote: »

hi, both me and my wife are going br and this month we have not been able to rob peter to pay paul so the letters and phone calls are starting, should we inform all our creditors that we are in the process of going br or do we sit tight. we are starting to fill in the br forms this week but still dont have an appointment date from cab we have been in three times now but they said it could be the middle of september before we can see anyone. some advice would be appeciated.

I appreciate that it will be difficult, but you should stop paying all creditors, and ignore their letters/phone calls. Once you have been declared bankrupt you can, by all means, inform any creditor that phones that you are now bankrupt, but you are under no obligation to do so, as the OR will write to your creditors.

gratton20

Hi,

I know what it is like with creditors phone calls and letters, I have had weeks of it, and like you I have been tempted to tell them I am going bankrupt but please DON'T.

This will NOT stop them calling, if anything they will call more frequently, (and I bet they are already calling two or three times a day!), because either, most likely, they will think you are lying to get shot of them or if they believe you they will try as hard as they can to persuade you not to go BR as they know they stand little chance of getting much of their money back if you do.

They will probably try and sell you another new debt, - which they will call a solution, a consolidation or whatever - in fact it is a debt - dont do it!

I am going BR on Monday and I know how bad the calls get - it is tempting to tell them to "**" I know, but stick with it, it WILL be much better to answer the phone once you ARE BR and tell them and you can quote the ref number and then if you like tell them what to go and do, (although of course you and i would never dream of such a thing!)

Good luck .. there is loads of support and genuine clever advice on this forum - I have been getting lots of it and it really helps you cope.

chrisindebt

rog2 wrote: »

I appreciate that it will be difficult, but you should stop paying all creditors, and ignore their letters/phone calls. Once you have been declared bankrupt you can, by all means, inform any creditor that phones that you are now bankrupt, but you are under no obligation to do so, as the OR will write to your creditors.

thanks, how long would you expect before things start to get ugly,ie sending round debt collectors?? we feel like nervous wrecks when the phone rings or a knock at the door. most of my debts are about two weeks late at this point. thanks for advice, chris

scaredwitless32

Hi Chrisindebt,

We have missed our first payments on our loan and credit card this month, but we emptied my OH's account at the begining of the month and we have had a couple of phone calls from them about that, I just told them that he wasnt in and they never phoned back again, however his payday has just passed and I wont be surprised if we get a few calls this week as we are over his overdraft limit! eek. We have our CAB appointment on thursday, this week, so Im hoping by the end of that ,that we should know for sure if BR is for us. I added caller display to the phone and dont answer anyone that we dont know who the number belongs too. I guess what Im trying to say is, dont worry too much (yes, I know , its easier said than done ) I was told by a CAB worker to tell any creditors that we are involving the CAB to work out a debt solution. I do what I do, and ignore the phone and dont answer the door unless your expecting someone. Just ride it out until your appointment comes through, and remember your not alone.

tigerfeet2006

If it's going to be a while till you can get to see someone at the CAB you could ring one of the other Debt Charities and chat to them.

Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 *** National Debtline - Tel: 0800 808 4000 *** Payplan - Tel: 0800 917 7823

Also if you need any help with the forms then post the questions here and we will endevour to help you. There are some very knowledgable people hear including some from CCCS and the CAB.

simplesibbo

Do not worry. If you've decided to go BR then do not pay anybody any money. Switch off the answer phone and only pick up the phone when you know it's a friendly number. I had months (and I mean months) of phone calls during which I was threatened with people turning up at my house , bailiffs, calls to neighbours, threats to phone work and tell them and I had been in a dialogue with all my creditors and tried to pay what I could. None of what I listed happened. They sell the debt on to less reputable firms who then phone all day on a phone system and threaten people with all sorts of action, but in reality it would take them an age to put the legal bits in place to perform what they threaten.

These 'firms' try to scare you with threats and harrassment. Don't respond until you've gone BR and then you can answer the phone and calmly and politely tell them you're a BR, give them your case number and the details of your OR (a little jig and silent two-fingered salute whilst you're on the phone is optional) and you'll never hear from them again.

Yes, we owed organisations money and we tried to pay and couldn't, that's why we're here - but these organisations sell the debt to other agencies whose tactics are quite frankly out of order. Do not believe them and if you talk to them remain firm, polite and resolute.

Hope this helps.

chrisindebt

thanks every one for your comforting advice .i allways feel a bit more confident with every question you guys advise on. i hope i can help others when ive riden the storm. cheers!! chris

psycrow57

I had months of calls too - stopped paying everything last November and couldn't afford the bankruptcy until July this year. No-one ever turned up at my flat, inspite of the threats, but I ony had unsecured debt. I just stopped answering the phone and ignored the letters. I told some I was going BR but they thought I was lying!

I would call CCCS rather than wait to see CAB - my only regret about going br is that I didn't do it sooner!