Ask a StepChange (formerly CCCS) counsellor a bankruptcy question

Gerberus wrote: »

Hi,

I had a bankruptcy back in July 2008; Discharged Jan 2009 and all paid up by August 2011.

Now I've learned that the local press has again carried an ad, advising that my case is closed and should any creditors want to make a claim on the old bankruptcy they should get in touch with the OR.

Why on earth are they publishing this so long after the fact?

Thanks,

Gerberus

Because it can take several years to finally arrive at a figure [pence-in-the-pound?] that tells known creditors what they can expect to receive. This may only apply if, there is a surplus of realised assets beyond the costs applied by the Insolvency Service, perhaps?

There has to be a 'cut-off' date beyond which, 'unknown' creditors can go fiddle?

I also believe that, at this point, once the BR estate has been finally concluded, any surplus monies are returned to the Ex- BR?

I ,personally, don't think there was an ad in the local rag at this point.

But, I did accidentally come across a notice in the London Gazette, which wasn't my BR record, but a notice to creditors. It was around this point that one decided to try their luck with a CCJ..which failed miserably, as might be expected.

Was a small business involved?

storm35 wrote: »

I am working with Stepchange just now, i have been told since its near April where the rules for bankruptcy are changing, ive to leave it until they know the new rules, but this has been made clear to me, bankruptcy is the only way i can go. In meantime to send letters to my debtors which i have done, my question is, what do i do if they start sending me letters or start calling me up?
I could only write one letter, the other 2 debtors i could not find an address on their site, so i sent them an email?
TIA x

if creditors do get in touch tell them your working with stepchange and you'll be in touch...dont tell them about your upcoming bankruptcy as all this will do is increase the calls & pester for payment.

Hi, this is my first post andI feel very nervous but things are really bad for me at the moment and I thinkI’m nearly ready to make the decision to go bankrupt. I haven’t spoken to any family or friendsabout this except for my daughter but she is young and I am very scared aboutdoing this on my own.

I have about £20K owing on 2credit cards and £1K on a store account. I have been making monthly minimum payments and I have no spare cashafter paying these debts and household bills.

I’ve had car maintenance billthis month and this is the first month I won’t be able to pay one of the creditcards. I’ve been stressed and strugglingfor so long now and the payments I make are going on the interest hardlyanything is coming off the balance. Ijust can’t see any respite from this, I’ve been reading the information aboutDMP and IVA but I’m 54 and I think bankruptcy would enable me to have a freshstart and sort myself out financially before retirement creeps up but I am soashamed and scared to do it. I rent myhome and don’t own a property.

My question today is, if I doapply for bankruptcy I understand I will be asked if I have taken advice about debtrepayment options. I’ve spent hours onthe Internet reading about options, and I’ve completed the debt management toolon Step Change – would this be enough advice or do I need to do anything else?