"Beat the Bailiffs" FB Group

chasingsolvency

Hi everyone, apologies if there's already a thread about this - what do people make of the FB group where they advise against Step Change/CAB and bankruptcy? I have c. £30K of debt, probably more and I really don't know how to proceed.

Is there any truth to this '3 letter' process whereby debts that have been sold to debt collectors can be wiped out? Sounds too good to be true

debt_doctor

Hi,

I do not know of the FB group that you refer to.

Pretty much most debts can be cleared by bankruptcy whether they are with the original creditor or if they have been passed to collectors.

What questions do you have about bankruptcy?

DD

sourcrates

chasingsolvency wrote: »

Is there any truth to this '3 letter' process whereby debts that have been sold to debt collectors can be wiped out? Sounds too good to be true

Oh not again......holds head in hands..............


Hi,


No, there is no truth in it, its complete and utter rubbish and every case that has gone to court relying on such a defense has been thrown out, it all relies on freeman of the land type rubbish from a bygone age.

The sale of debts while morally reprehensible in most cases, is, perfectly legal, are you not aware of the consumer credit act ?

All regulated consumer borrowing in the UK is covered by it, on the sale of a debt the new owner acquires all rights and privileges of the original creditor.

Debt collectors must provide proof of liability when asked to do so, is no proof exists, usually in the form of a valid credit agreement, the debt cannot usually be enforced.

You do not need to send 3 letters and get laughed at, you normally send one, provit letter to anyone asking you to pay a debt you are not familiar with.


Creditors are not always as careful with their paperwork as they should be.

chasingsolvency

sourcrates wrote: »

Oh not again......holds head in hands..............


Hi,


No, there is no truth in it, its complete and utter rubbish and every case that has gone to court relying on such a defense has been thrown out, it all relies on freeman of the land type rubbish from a bygone age.

The sale of debts while morally reprehensible in most cases, is, perfectly legal, are you not aware of the consumer credit act ?

All regulated consumer borrowing in the UK is covered by it, on the sale of a debt the new owner acquires all rights and privileges of the original creditor.

Debt collectors must provide proof of liability when asked to do so, is no proof exists, usually in the form of a valid credit agreement, the debt cannot usually be enforced.

You do not need to send 3 letters and get laughed at, you normally send one, provit letter to anyone asking you to pay a debt you are not familiar with.


Creditors are not always as careful with their paperwork as they should be.

Thank you, I thought as much! It's a bit of a crazy group, I should have known not to listen to them.

I'll go through my debts later and post amount alongside my income too, I can't see any way out other than bankruptcy. My main worry is that being self employed, I don't have a set wage and I'd love to avoid an IPA (is that what it's called where you pay the OR?) if possible, don't we all. Will post info later this evening.

chasingsolvency

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 1247
Other income............................ 319
Total monthly income.................... 1566

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 452.04
Management charge (leasehold property).. 0
Council tax............................. 52.73
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 350
Clothing................................ 80
Petrol/diesel........................... 200
Road tax................................ 21.44
Car Insurance........................... 81.01
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 33
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 8.79
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 30
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1539.01


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 400
Other assets............................ 0
Total Assets............................ 400

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Council Tax....................538.......0.........0
College Course.................300.......0.........0
HMRC Tax Cred Ovpmt............10000.....0.........0
Council Tax....................538.......0.........0
Student Grant Ovpmt............6661......0.........0
Sky............................195.......0.........0
eBay...........................435.......0.........0
Gym............................685.......0.........0
Barclays.......................535.......0.........0
Very...........................5844......0.........0
Ideal World....................412.......0.........0
Endsleigh......................161.......0.........0
NEXT...........................581.......0.........0
V12............................362.......0.........0
Barclays.......................644.......0.........0
Very...........................1744......0.........0
Personal Loan..................18500.....0.........0
HMRC Late Tax Return...........1200......0.........0
Total unsecured debts..........49335.....0.........-


Monthly Budget Summary
Total monthly income.................... 1,566
Expenses (including HP & secured debts). 1,539.01
Available for debt repayments........... 26.99
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 26.99

Personal Balance Sheet Summary
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -49,335
Net Assets.............................. -48,935

chasingsolvency

Wow that's depressing That's everything, I think...I haven't made payments for 3 years for most of them, the Council Tax is a new one which I need to sort as a priority, as well as my HMRC Tax Return.

I'm self employed, haven't included any wages as they're variable (say £200 to £500 p/m) - I don't know how that will work with bankruptcy? Part of me is tempted to set up payment plans with creditors as they contact me but I fear I'll never repay everything.

Also, I haven't included everything in the budget - I struggled with it really, I don't know how much I spend on certain things? My car is in the garage after failing MOT and that's costing me £500. I also had a vet bill of almost £2K earlier this year for my dogs

Willing2Learn

You need to insure your home contents to cover you against the worst thing happening. Everyone needs contents insurance

How come there is zero APRs against all your debts? Have they all been frozen?

Have you cancelled your gym membership?

Have you been on price comparison sites for your car insurance? Just under £1000/year is lot to pay for a car that is only worth £400...

luvchocolate

You need to put something in for wages use a years figure divided by 12 for an approx figure
What is the other income?

chasingsolvency

I don't have the apr details to complete that part unfortunately so just left it off, because the debts are so old I have limited paperwork (a lot didn't survive a house move).

Car insurance is the lowest I could find, that figure also includes RAC cover at £13.26 p/m - I get a lot of use out of that!

I haven't been a gym member for a long time now, the debt is from ending my standing order before the contract ran out

chasingsolvency

luvchocolate wrote: »

You need to put something in for wages use a years figure divided by 12 for an approx figure
What is the other income?

Ok, I'll go back over earning and do that. Other income is UC and child maintenance.

chasingsolvency

c. £315 for wages