Thinking about BR

mattcaney

Hi All

I was made unemployed through no fault of my own three months ago, i was giving £4.5K redundancy of which £2400 is left after living expenses, interview, travel, rent, etc.

As I am still living at home she has the remainder of my redundancy in her account as she thought i would spent it which was good advice. I have since bought a new suite and new glass as the my last pair were very worn out and hadnt had to wear a suite for previous position i was made redundant from.

I have had not luck in seeking a new position and i am now on job seekers allowance, and now have my creditors breathing down my neck despite offering them £5 a month to keep them at bay as a loyalty payment. But some accounts have been sold on to different debt collection agencies who are not very friendly or accomodating.

I am thinking of now going backrupt as I as my redundancy money is running out fast with all the interviews I have been going to plus still paying rent as parents dont earn a lot of money.

I now have an overdraft of £500 which never gets in credit as I only receive £240 a month in Job Seeking Allowance.

Do you think BR would be my best thing to do, before I eventually hopefully get accepted for a new job.

Many thanks

Matt

Waspeze

Have you spoken to one of the debt charities? this should really be the first thing you do.. we can't really advise you on whether to go bankrupt only help you if you've been advised to go bankrupt.

CCCS, CAB or national debtline!

Waspeze

Add. here;s the contact details (stolen from TF's sig )

Your first port of call should be to contact one of the Debt Charities; see links below. Their services are free; they have no vested interest to serve; their advisors are professionally trained and the advice they give will be objective and in your best interests only.

CCCS 0800 138 1111 National Debtline 0808 808 4000 Business Debt Line 0800 197 6026 CAB – Contact your local office and ask to speak to a Specialist Financial Advisor. Insolvency Service- 0845 602 9848

mattcaney

I have an appointment with CAB next Wednesday, but i really want to get things sorted out before then as the creditors are really hammering me now and my parents and getting really annoyed. I have spoken to National Debt Helpline who are sending my out a pack, but i was hoping for a bit of advise from people who have been in my situation. I am now only sleeping 3 hours at most and waking up in a sweat thinking about baliffs knocking as that is what one of the creditors said could happen (although debts are all unsecured). Thanks Matt - Will give CCCS a call too - thanks

Waspeze

The only reason you'll have bailiffs turning up is if you've defaulted on a ccj or have council tax arrears? if you have neither of these then the people that may (or may not) turn up are "doorstep collectors".. they have the same powers as a paper boy so just tell 'em to "Git Orf My Land!"

So_Sad_Angel

Hi Matt,

Hope you have spoken to CCCS / Nat Debtline. Please let us know how it goes.

I know what you mean about the creditor calls (phone & in person)...I`m only one month behind & I`ve had a card already about them `calling`on Friday.....I was polite & rang them to say I`d be out...sorry. They have had letters from me explaining my situation but they don`t seem to listen.

If BR is the route for you then sounds like you want to get on with it so check your local courts about their booking system...or pop in as I think you can pick up a BR pack.

Take care,

Angiexx

mattcaney

Hi There

Had an interview with the CCCS today and there advise for me is to go bankrupt as I'm only on jobseekers allowance and after all expenses and left with £5.

They are sending me a copy of my I&E that I went through with them, and then will complete the forms on line and also complete the EX160 form so that I can try and reclaim the £150 Court Fees.

I can now sleep a lot easier, although I appreciate I am only on the start on the road to recovery at least it will stop all the nasty collection agencies for calling me.

Was advised to tell them that I am going bankrupt especially after I have received a court date. Will look forward to that call.

Also found out that if I get a discharge after six months and am still out of work then I will free of and IPO, so effectively could be cleared in six months, but dont fancy living on virtually nothing for that amount of time.

Thanks for your help and will keep you posted.

Matt

tigerfeet2006

Thanks for the update Matt. If there is any questions you have you know there is always someone around to answer or lend support.

shadowdragon

Good for you you will definatley get the court fees waived theres a box for JSA on there Just make sure you take enough eveidence to court with you to prove it.

Post your Statement of Earnings, because CCCS take into account things like Smoking, Internet access ect which the Official Receiver Doesnt, post it up and get some advice on what you can and cannot have. Make things easier, did for me

dalip

mattcaney wrote: »

Hi There

Had an interview with the CCCS today and there advise for me is to go bankrupt as I'm only on jobseekers allowance and after all expenses and left with £5.

They are sending me a copy of my I&E that I went through with them, and then will complete the forms on line and also complete the EX160 form so that I can try and reclaim the £150 Court Fees.

I can now sleep a lot easier, although I appreciate I am only on the start on the road to recovery at least it will stop all the nasty collection agencies for calling me.

Was advised to tell them that I am going bankrupt especially after I have received a court date. Will look forward to that call.

Also found out that if I get a discharge after six months and am still out of work then I will free of and IPO, so effectively could be cleared in six months, but dont fancy living on virtually nothing for that amount of time.

Thanks for your help and will keep you posted.

Matt

Hi matt
Sorry but bc lasts for 12mths, unless you get lucky in which case it is anything from 6-12mths. The early discharges are usually the straightforward cases and if the OR/trustee is not bogged down. If they find anything unusuall in your " spending habits" prevous to bc it could mean a BRO/BRU but it will not affect the actual discharge date of 12 mths. An IPA has to be set up before discharge date,whether 6 or 12 ths. Hope that helps.D