Will I be bankrupt forever?

renegadefm

Good evening.
I want to start by saying I was bankrupt nearly 12 years ago in April 2008 but am still nieve in a lot of aspects of what exactly bankruptcy means to me 12 years on and beyond.

Almost 12 years after being discharged from the Official Reciever I have got my credit score back on track, succesfully obtained 3 bank accounts, and in general feel like finacially I have never been in a better place in terms of managing what I have, that's not to say I'm particularly wealthy, but I manage what I have better.

But how long after being discharged will a persons slate ever be completely erased from the status bankrupt? Will I take it to the grave?

The main reason for this topic is I was 39 when I declared myself bankrupt and claiming back miss sold PPI was unheard of, now I'm 50 the deadline is over for claiming it. But hypothetically had I never been bankrupt I could have claimed it which could have been more in PPI than what I went bankrupt for.

According to Alley claims back in June last year I have signed a contract to give them the go ahead to go about potential claims I could have have and told me I have dozens of potential claims, quite how they knew this without me telling them I dont know its quite scary, even more scary is how they got this ball rolling with little or no signature from myself.
That said Alley assured me today on the phone I still got nothing to lose as they claim their percentage from wherever the successful claim goes to. Be it the OR or me. Which made me think my case isnt unique.

So hypothetically had I lived to 100 would I still not be entitled to the PPI I was obviously miss sold through no fault of my own.

Hope I have made sense in what I am getting at. I feel a victim of modern times. Without the internet this would have never happened.
Thank you.

brettcta

You are definitely a victim of modern times.

You could see if Allay can pursue a claim against Tim Berners-Lee for ‘creating’ the internet which ultimately led to your going bankrupt and unable to claim back PPI.

God damn modern times, coming over here, making everyone go bankrupt

renegadefm

Sorry I have come across all wrong. I just feel back when I was first married when I was just 20, I was having credit thrown at me like confetti, and at just 20 its like giving an alcoholic a free supply to the whiskey distillery.

I guess I'm blaming society for that, because other than that I am an honest working man, but feeling sorry for myself deep down because who could ever think bad advice when I was 20 could be taken to a persons grave?

I had no choice but to go bankrupt by the time I was 39 because I was struggling and drowning in debt, and couldn't provide for my family anymore, they were very stressful times.

Now to add salt to the wounds, I cant even claim the miss sold PPI I payed out on, something my bankruptcy is now preventing me to claim. How ironic has my life been? I should have a potential fortune coming to me but life wasent meant to be that way.

I'm feeling like why do I bother right now, everything I have done has turned to trouble. And Its so sad because I don't show this to my family, but I am wits end. I cant do anything right.

debt_doctor

renegadefm wrote: »

even more scary is how they got this ball rolling with little or no signature from myself.

Hi,

So was it a little signature or no signature?

You lost the right to make the PPI claim on the day you were declared bankrupt - for ever. PPI claims have now timed out but there are a lot of existing ones still being processed.

You are putting yourself in a dangerous position where the payout will go to the OR and the bill from the claims management company will go to you.

DD

renegadefm

debt doctor, I didnt sign anything. Like I said I faugly remember being pestered to claim my ppi, and Allay sermed to know what was coming to me, but I dont remember replying or clicking anything. That's the truth.

I dont care anymore if I get anything from this, but I do feel hard done by from modern society. I dont know why I bother now. I may aswell play the depression game and give up work.

gary83

renegadefm wrote: »

Sorry I have come across all wrong. I just feel back when I was first married when I was just 20, I was having credit thrown at me like confetti, and at just 20 its like giving an alcoholic a free supply to the whiskey distillery.

I guess I'm blaming society for that, because other than that I am an honest working man, but feeling sorry for myself deep down because who could ever think bad advice when I was 20 could be taken to a persons grave?

I had no choice but to go bankrupt by the time I was 39 because I was struggling and drowning in debt, and couldn't provide for my family anymore, they were very stressful times.

Now to add salt to the wounds, I cant even claim the miss sold PPI I payed out on, something my bankruptcy is now preventing me to claim. How ironic has my life been? I should have a potential fortune coming to me but life wasent meant to be that way.

I'm feeling like why do I bother right now, everything I have done has turned to trouble. And Its so sad because I don't show this to my family, but I am wits end. I cant do anything right.

The hard facts are any actions taken by you as a twenty year old may continue to have consequences for the rest of your life, You were an adult, you were old enough to get married. Years ago it was much easier to get credit admittedly, however those lines of credit were generally available to nearly everyone, not everyone had to go bankrupt, somewhere along the line you have to take some personal responsibility for your actions, not try to blame society for your current circumstances, that's just going to make you bitter & depressed.

On the PPI you are trying to have your cake and eat it. When you went bankrupt anyone you owed money to just had to forget about it, wipe that off and put it down to experience, you can't expect that to happen but then years later you get a windfall, how's that fair to your original debtors?

renegadefm

gary83, the way I look at it is credit was thrown at me like confetti, and it was thrown at the wrong person at the time. Not everyone is good with money. It was like giving a gambler the crown jewels, or an alcoholic free whiskey.

Thats why I look back at my nieve past and feel bitter and twisted. Surely managing money should be taught at school.

But the PPI issue as I see it was miss sold to me before I even dreamt of going bankrupt. Going bankrupt to me was such a hard decision because I was trying to keep it a secret so that my parents didnt feel obliged to bail me out, but I had to face the humiliating situation of them reading it in our local gaurdian newspaper and them approaching me about it, imagine that? And even my boss must have read it and approached me about it. Something like that I was trying so desperately to keep secret was now blown around like the wind.

By now I'm already bitter and twisted at the world. Then I discover 12 years after going bankrupt I payed out all this money on PPI that I cant even claim back. Yet a work college has just recieved a cheque for 22 thousand on one loan he had. Ok fair enough hes never been bankrupt, but I started to imagine what potentially I must potentially have to come back to me as PPI. It probably far out weighs my bankruptcy debt. So had I chose to struggle on with the debt until now I could easily pay it off from PPI pay outs and be even better off now.

So you can easily see surely why I am angry at the world. I have been delt the worst hand of cards ever going.

I have tried to do everything right, I have worked hard all my life since school, and have been living on the bread line all my live, never been rich or that well off. Yet people I know don't work and got all the luxurys I can think of.

Are you still wondering why I am angry at the world?

BoGoF

You are making no sense......if you were made bankrupt then you didn't pay the loans/cards,/PPI premiums. You can't not pay something then expect something back.

Your colleague who received his payout paid his debts.

You made your choices, accept it and move on. You are a victim of your choices.

sourcrates

You have to look at it like this, what was the alternative at the time,
go bankrupt, or struggle on in desperation, you made the choice to go bankrupt, however much you felt forced into it, it did relieve you from the pressure of your debts, a sizable chunk of which, will have been written off.

So that was a winner for you, the PPI thing wasn`t, thats life unfortunately, you win some, you lose some, you simply cannot focus on what might have been, at least you are debt free now, that should be your focus point to move forward, lots of people are in a much worse situation.

-taff

Bankruptcy is drawing a line in the sand regarding your debts. At 20, perhaps you were naive, but at 39 you were not but continued to live with credit.
Trying to complain about missold PPI is you moving the goalposts. That isn't possible.


You have not been dealt the worst hand ever, you have been taught a lesson about credit and debt and are now feeling sorry for yourself that you didn't learn it sooner.
Good job you told the company that you were made bankrupt and I hope you have proof of that in an email or a letter, because if they are successful, they will come to you for the money which you wil not receive because it will go to the OR. Once you told them this they should have not touched you with a bargepole.
Allay have a very bad name by the way, it would have been simpler for you to post on the PPI board originally to be told you couldn't clai and then you wouldn't be feeling hard done by. Or you could have read the sticky on this board about it and known even sooner.

renegadefm

-taff, but that's my point, I didnt knowingly claim PPI because I knew I wasent eligible to do so ages ago.

I am being sincere when I say I honestly dont know how Allay got my details and went ahead with claiming PPI on my behalf. All I remember is being swamped in emails and texts about I need to claim my PPI from Allay but dont recall replying to any of it.

Anyway I am assured now by the insolvency officer that I wont recieve any claims the OR will so Allay cant chase me for money.