Loopy's Bankruptcy Journey

tomterm8

fermi wrote: »

I read it as failed IVA proposals on both loopy_lou1's posts here and on CAG.

If that is the case there would be no funds/obligation for the potential IP/supervisor to pay/petition for the BR.
Debt Free Direct always do their best to wiggle out of it even if the are obliged. :rolleyes:

Oh... that's quite possible.

tigerfeet2006

Are any of your creditors utility companies? Some offer help with fees. (sorry can't find link atm but I am sure someone will post it.)

Are you a member of any trade unions? Do you have any connection with the forces?

nomoneyprobs

loopy_lou1 wrote: »

I've just had a phonecall from the temping agency I'm with and now I've lost my job.
It's laughable really. I am speechless. I can't even afford to go bankrupt.

oh hun thats terrible news, HOWEVER, all isn't lost, if your claiming income support you won't have to pay the £150 court fee, you'd just have to pay the £335 or deposit, Would your folks be able to lend you that?

Ian

wok_boy

This may sound off the wall do you have a credit card with enough credit on it to pay the fees? If you do, bung the fees on it.

Peter_Pan

Have to admit that what we intend to do on Tuesday, our health is starting to suffer because of the stress and the phone continually ringing (we assume its creditors) and just need to get it sorted.

loopy_lou1

wok_boy wrote: »

This may sound off the wall do you have a credit card with enough credit on it to pay the fees? If you do, bung the fees on it.

I wish!

Everything's maxed out.

Then again I have an interview on Tuesday so I might be ok. As soon as I know my pay date I'll book the BR and also I've set up a call barring system on our phone - which will hopefully leviate the calls just for a month until I can get sorted.

About the job. It wasn't the fact that they ended my contract - it was the way they did it. So underhand and sly. I had no warning and had been off work for two days prior to my last shift - where I could've been looking for work.

They again might have done me a favour. There's a lot of stuff I am unhappy about in my life and I was hoping for something permanent from that job but the money and hours were terrible.

So I suppose maybe it's a good thing.

Debt_Free_Chick

Once you've decided - for definite - to file for bankruptcy, stop making any repayments to any of your debts and use the money instead for the BR fees.

The Court date will arrive before the lenders get to the stage of taking action about the missed the payments (you'll get the usual reminders, phone calls etc). Even if the lenders do make enquiries, tell them you're filing for bankruptcy.

In short - if you need money for the BR fees, use whatever is currently going on debt repayments.

fiveyearplan

I wouldn't tell creditors I was filing for bankruptcy until the deed is done.

Debt_Free_Chick

fiveyearplan wrote: »

I wouldn't tell creditors I was filing for bankruptcy until the deed is done.

I don't see that it matters. If I have the forms in front of me and I'm filling them, then provided I have no intention of getting cold feet, I'd simply tell 'em.

You are only speaking to someone following a script and the "I'm filing for bankruptcy" response will usually result in an "Oh, OK" and that's the end of it.

Or have I missed something? What would be your concern?

fermi

Debt_Free_Chick wrote: »

You are only speaking to someone following a script and the "I'm filing for bankruptcy" response will usually result in an "Oh, OK" and that's the end of it.

Or have I missed something?

Unfortunately the next line in the script is often, "Can we offer you this managed loan?" or other so called "solutions" that will only get you deeper into trouble.

It depends upon the company you are dealing with, but many see a way to make money out of someone who is even desperate enough to go BR.