Creditors - what should I do?

susiepink

I'm due to pay all my creditors on or around the 25th Sept, do I tell them I'm going for BR and not pay them anything or do I explain my situation about my maternity pay kicking in and not having another money to pay them, offer them £2 and send them a copy of my budget sheet to keep them off my back for a while? (Explaining I'm on unpaid leave and due to go back to work next year so need some breathing space?).

I know BR is the only answer now but I feel I need a little more time to prepare myself. Just to summerise (sp?) that as of this month I'm on half my normal salary maternity pay and then as of December I will be on unpaid leave until February when I will become a stay at home mum. I have to find out what benefits I will be entitled to.

Thanks again

gratton20

Hi

Assuming that you have 100% decided you WILL be going BR and taken proper advice then personally I would stop paying the creditors anything at all. Either just ignore their phone calls and letters, or I would tell them I was going to go BR. Chances are they will not believe you and may well continue to "hassle" you for money each month. They may also offer "help" which usually involves demanding more m oney off you or selling you a consolidation loan or something similar - avoid it!

Even if you offer them a token payment, I feel from experience that they will STILL carry on phoning and writing and generally behave no better than if you paid them zero. Sorry but that was the way I found it when I went BR.

You are going BR, which means .. you cant pay, so dont pay! Whatever you offer meantime they will probably, at least many of them, still add interest, and ptobably hassle you for bigger amount ... all they are interested in is getting money, they dont give a zilch about you IMHO

You will soon need all the money you can get since you are pregnant ... get the stuff for your baby now, dont worry OR will NOT be angry with you for buying such things .. the baby MUST come first and you MUST buy the stuff.

If the bank account you are using now is overdrawn or you owe the bank money they will prob stop you using it but you can get your benefits in other ways, people on this forum who are much more "expert" will soon be along to advise you.

I just wanted to give my opinion, based on my experience and that of people I know. In my opinion creditors are often their own worst enemy as they hassle people even if they DO make some effort to pay, so often push people to think .. "Hell, I get grief even if I try, so why bother". In your case there is no question - you CANNOT afford to pay .. otherwise you wouldnt be going BR

Good luck .. dont worry, it is NOT as bad as it seems!

susiepink

ok, thanks. All my creditors have my new address and mobile number but not my landline so I can just turn my mobile off as I'm sure they are going to be constantly ringing them. God, how scary is this?

I've had my baby now, he's 4 months and I've brought him lots of stuff and a few bits for me but the most they can do is a BRO which is the least of my worries.

In6ftofSh**only5ftTall

Hi, this is my 1st time posting but i have found lots of help from reading the posts on this Forum, So i thought it's about time i contributed my two pennoth worth .
I went Bankrupt on 21st of last month an was really worried about doing it but, really glad i did now.

Regardin your creditors, i got advice about mine from ICAS and the CCCS and they both advised me 2 stop paying them once i'd decided BR was 4 me. I didn't pay a penny 4 over 6 months and apart from the nuisance phone calls (i stopped answering phone ) it's worked out fine.
Let your creditors worry about the lack of payments, cos they sure won't be worrying about your welfare, so why should you care about thiers.
Hope this helps.

rog2

Yes, sp, as everyone is saying - stop paying your creditors immediately - they're not going to do anything until the payments don't come in, and, by the time they get around to chasing you it will, probably, be too late.
That said, some creditors can be particularily quick off the mark, so prepare yourself for a bit of 'telephone' avoidance.

susiepink

OK, I just don't want to get in trouble with the OR as it's not as if I've not been spending any money recently , I'm been carrying on as normal really, dinner with friends if I fancy it, some nice food from M&S, I could have cut back but I just didn't bother and I have some surplus money left over each month that I could offer my creditors (here you go, £2 each and don't spend it all at once). The thing is that I didn't go BR earlier this year as I knew I was getting a bonus from work and I figured that I'd lose that to the OR which is why I waited till now to do it. Please remember that I'm not a DP and I'm not behind on any payments if that helps my case at all Oh cr*p, I'm in even more trouble aren't I?

Although I didn't know I was going to decide to give up work next year and stay at home with my baby hence the need to now go BR????????

susiepink

OK, I just don't want to get in trouble with the OR as it's not as if I've not been spending any money recently , I've been carrying on as normal really, dinner with friends if I fancy it, some nice food from M&S and obviously I stocked up on baby clothes, a cot, pushchair etc which I know I'm allowed to do. I could have cut back but I just didn't bother and I have some surplus money left over each month that I could offer my creditors (here you go, £2 each and don't spend it all at once). The thing is that I didn't go BR earlier this year as I knew I was getting a bonus from work and I figured that I'd lose that to the OR and wouldn't be able to buy my necessities and pay back my family the money they lent me to pay off my creditors, which is why I waited till now to do it. Please remember that I'm not on a DP and I'm not behind on any payments if that helps my case at all Oh cr*p, I'm in even more trouble aren't I?

Although I didn't know I was going to decide to give up work next year and stay at home with my baby hence the need to now go BR????????

debt_doctor

Yep, dont pay your creditors and go bankrupt as soon as poss !

As for benefits you get the exiting grand total of £ 59.15 income support for you and £47.00 per week child tax credit and £18.10 per week child benefit. You will also get an extra £ 1o per week child tax credit until your baby is 1 year old. You will not have to pay any council tax and you will get maximum housing benefit for your rent.

Good luck with everything

Best wishes