Thanks , have done and they roccommend bankruptcy, was told to look on it as a business strategy...but its a hard pill to swallow, as do feel partly to blame even though we have had some blows from the HMRC, that weren't our fault...just sat filling the bankruptcy forms in now....

Hi there, thanks for all the posts, havent replied because i am still dithering what to do, I just cant get my head round the bankruptcy, i feel such a failure doing this. I have just been fobbing people off saying we are going to file, but still havent...then the tax man called last week, and told him the same but i need to decide what to do, just keep burying my head and not opening post....

thanks for replys, think I might try and complete forms and do myself, the £500 is nearly payment for one of the bankruptcys so it is a big chunk of money. Does anyone know if the Official Receiver will talk and give advice before you file, or is there anyone who advises without charging ??

Also when ringing Bankruptcy.org they then transfer you to mymoney group, is this company ok to use, its is them that will handle the bankruptcy ?? anyone heard of them ??

I rang Bankruptcy.org yesterday, spoke to a guy who was really nice, went through everthing with him. He concluded that the only option is bankruptcy, and there charge for sorting all paperwork is a one of of £500, then the Bankruptcy charges. He explained also due to us having no surplus income an IVA would not suit, he said around that level of debt we would have to find £500 a month for an IVA, which we just dont have....

Hi no both properties are in negative equity, only income is from the business, and no assets and no surplus income..

I have just done the CCCS debt remedy on line, and they are advising a Temporary Payment Plan....totally confused now which way to go still...

similar story to my sister,she is so scared at the moment...good luck both of you..

we were on one.mbna, that was repaid some time ago, but no others, as we were always self employed we always said no to the PPI.

No the business is not limited, another bit of bad advice we got !!! The approx tax to the IR including Vat/Tax/penalties is £64K..

Need some advice.. .It has now been several years since our business started going into difficulty and i is now just making me so ill and we need to sort things out once and for all.. We have had advice recently from LC to declare ourselves bankrupt, but we are so scared in doing this, we just dont know which way to turn. We have now got debts of around £125K, half of that is to the Tax/Vat man (Long stories, but never had the money , penaltys caused by business stupidity !). The business is still trading and our only source of income. Our house is in negative equity, and we also have a buy to let property, that is also in negative equity. If we do decide to go bankrupt, A) would the business be closed, or if not would our customers be informed of our bankruptcy: B)The buy to let property would the tenants be informed of the bankruptcy,and would we still keep this, part of this income is needed for our day to day living costs also. Or would an IVA be more appropriate ?? I have been looking and reading now for so long and it has come to the time when if we dont do something then probably the IR will declare us bankrupt (they have already mentioned this) Personally I feel I would be cheating by going bankrupt, it just doesnt sit easy with me,I wouldnt feel guilty about the IR but half the debt is personal debt !! Someone please advice, I go from thinking yes to the Bankruptcy, then NO, Yes to the IVA, then No. I really, really dont know what to do, but sick of waking up in the night worrying about this...

Hi caGbot my inbox is empty now, thanks

Ok, thanks will do. Just received post and MBNA have sent a cheque ... !!!

Hi wondered if anyone can help, my husband made a claim for the PPI on a MBNA credit card, he has now received a letter saying they are going to give him back £5,500, however there is still £6,500 owing on the credit card. Will this money go straight of the card (letter says posting a cheque), if not and we receive the cheque what happens to the balance on the card ?? Debt collectors are chasing this outstanding money !! Sorry but this is the first time we have done a PPI claim, any help would be appreciated. thanks

Hi pumpytums, will do that, but where from just a local garage ?? Hi ims21 Do you not think it is worth appealing ??

Well quick update on our Link case, been too court and LOST ....... cannot believe that the judge ordered the return of the car to Link, who have still never gave all the correct documents in, that have been requested for several times... Link have still only ever provided one NOA and DOA, and at court the judge stated that they do not have to show me the DOA ..... any thoughts anyone ..????? Also just thinking does a NOA not have to show what the the assignment is for ???? i.e., money, car, etc We are now considering whether to appeal the judges decision on the grounds that requested documents have still not been shown and yet the judge has allowed Link to be evasive over these documents. Any comments would be helpful.... thanks

Okay Link are still wanting to fight !! However in last letter they are asking me to come up with an agreeable repayment plan, does anyone think this is what we should do ??

The CCA request was replied with a copy of the Credit card agreement, which was originally taken out with Co-op Bank. Up until Sept 2010 I was making payments to Fredricksons. When I say not in tune It was just a case of I had too much debt to cope with and stupidly "buried my head in the sand" for a while and just could not cope with opening post and would leave it for ages !!!! I know stupid but some days I feel like I can fight the world and then others I just want to sit and cry .... (still the same feelings) Then several weeks ago a bit of a disaster happened in the family and I was unable to open/reply/respond to anything (although not medical my daughter and grandchildren) and it just put me on a real downer cant cope again !!! So probably have not helped myself at all, which i realise, but wondered if there was anything I could do ??? Best of it was the debt stands now at £4700, could have paid of with fredrickson for £2750 (but obviously did not have the money !)

Yes that is what I had done !! Due to family reasons I failed to reply when they asked for proposals, and did not hear anything until the CCJ came through So does that mean I cannot do anything now ??

Received the notification from the Court, with installment plan on saying I had not replied to the claim form, honestly I had not, because when i received the papers I had replied with the letter stating no Agreement had been received and after 21 days the account is in dispute, Then about 9 days later BC replied saying we are referring to our clients and the acct is on hold. Then 17/3 got a letter from BC with copy of agreement, and asking for proposals to pay. The court letter dated 28/3/11 - Judgement

Yes here no donkeyB

Hi , wondering if anyone can help. BC have had "Judgement for Claimant in default", not been to in tune with things at the moment, and had a lapse. the story so far is that BC are chasing a credit card debt. I have sent the CCA in August last year, and then finally on 28/1 sent a "dispute letter" for not still receiving copy agreement. 7/2/11 BC put the acct on hold, then 17/3/11 they sent me a copy agreement. Then on 13/4/11 received notifcation that a CCJ was entered against me and I have to pay instalments of £50 pw, plus the debt has gone up by £500. I have read the threads, can I challenge this judgment or is it too late ?? Thanks any advice helpful

Testing.... Testing ....

Cannot ....

Thanks Emandcole