Why doesn’t everyone with a ccj or defult go bankrupt?

sim2335

They stay on your file for 6 years just like bankruptcy

However with a bankruptcy nothing to pay, and after a year, it’s over and after 6 years or less they come of credit file.

Where’s with defult or ccj you still paying it off during 6 years and even after 6 years 

Only downside I can see to bankruptcy in this situation is you on a public register 

[Deleted User]

You're a real decent, honest, respectable person aren't you, where's your pride man ? 😡🤬🤬🤬

Why can't you accept to the responsible thing - why are you happy to let your actions impact everyone else ?

 You want the banks money but you don't want to give it back to them, charming 🙄😡😡😡 

Edit:
You write some very controversial, inciteful stuff, don't you 🙄

sim2335

Catsacor said:

You're a real decent, honest, respectable person aren't you, where's your pride man ? 😡🤬🤬🤬

Why can't you accept to the responsible thing - why are you happy to let your actions impact everyone else ?

 You want the banks money but you don't want to give it back to them, charming 🙄😡😡😡 

Edit:
You write some very controversial, inciteful stuff, don't you 🙄

No it’s not even about me, what are you on about.

why don’t you say that to people who go in millions pounds of debts and go bankrupt not people who go with 5-10k

What I’ve never gona bankrupt I pay off my debt

the Other thing it’s morally wrong.

comeandgo

Some professions do not accept bankrupt as employees, bank employees being one.

sim2335

comeandgo said:

Some professions do not accept bankrupt as employees, bank employees being one.

That’s true, however after 6 years are finished you can work anywhere
wheres most banks don’t take people on with ccjs

Grumpy_chap

Some people incur a default because of purely admin reasons, such as the payment being processed through the system just one day late.  It would be daft for that type of person to declare bankruptcy.  Not to mention, morally wrong.

Some people end up with a CCJ because of a specific and focused dispute with one supplier.  That would not be a cause to declare bankruptcy affecting rent / mortgage / car loan / credit cards etc.  Again, it would be morally wrong and the impact to the individual far greater than one-off CCJ.

Lenders are quite intelligent people really and can assess the risk of a sole default or CCJ far differently to bankruptcy.

sourcrates

sim2335 said:

They stay on your file for 6 years just like bankruptcy

However with a bankruptcy nothing to pay, and after a year, it’s over and after 6 years or less they come of credit file.

Where’s with defult or ccj you still paying it off during 6 years and even after 6 years

Only downside I can see to bankruptcy in this situation is you on a public register 

Bankrupcy is just one of several regulated debt solutions, and is concidered to be the last resort, in most cases.

You need to have debts in excess of £5000 in order to qualify, if you have a house, you could lose it, the same applies to any other significant asset, including your car, if its worth over £1500.

Any disposable income you have over and above £20 per month will be used to fund an IPA (Income Payment Arrangement) for up to 3 years.

If the OR suspects you deliberatly made yourself bankrupt, or your reckless actions contributed to it in some way, or if there is a hint of fraud, or you fail to cooperate, then they can make a BRO (Bankrupcy Restrictions Order) against you for up to 15 years.

It is ludicrous to suggest that going bankrupt is preferable to having county court judgements, one simply does not coralate to the other.

Bankrupcy has its place, and the process has been made much simpler than ever before, but it is still a massive step for most people to take, and should not be concidered an easy option, and certainly should not be used in the way you suggest.

Ladies and gentlemen, I understand your responces in regard to this post, but please do not play the moral card, especially on the bankrupcy board, a lot of people reading here may be at the end of their tether, and looking to go bankrupt, the very last thing, apart from the OP`s notion, that they want to hear, is the moral aspect of the choice they are about to make, the decision alone is hard enough for some, so i`ll ask you nicely to please refrain from posting such things, all other help and advice is very welcome, but lets stick to facts and not feelings here, I know the regular contributors go out of their way to be helpful, and for that you have my thanks.