I am thinking of going bankrupt,questions?

[pugsley]

is there a specific facts thread on bankruptcy on here FAQ etc

 

I need to know what personal possessions can be taken from the home and as I am home schooling my daughter whether they will take my car (L reg jeep) as I use this to take her to tutors. I also need to keep a computer for lessons too.

 

I am only on child support csa/child benefit/child tax credits,housing benefit so assume this income will be classed as benefit for my daughter, I have no other income/assets so am considering bankruptcy, for about £7,000 unsecured debt.including 1,500 thames water.

 

As I got a statutory demand from Lowells recently I thought they might pay for it as I could not afford it at present

 

found a few answers here

 

Bankruptcy Help: Is bankruptcy right for me?

car if worth less than £1500 could be kept

[lickthewallfatboy]

£7000,and you're thinking of bankruptcy?Hold up there friend!!

 

I have a lot more than that,but if I am successful in the CCA dept,I hope to write off £8K approx at a stroke.....

 

bankruptcy should be your very last option IMO.....examine all other alternatives first.Try and get hold of valid credit agreements for your debts,and see if Thames Water will work with you as you are on benefits.

 

Lowells stat demand-you cannot ignore this-apply for it to be set aside,and establish if Lowells are actually entitled to pursue the debt that are chasing you for in the first place-they buy up old debts and can't produce actual valid credit agreements when put to the test

 

Is ther a possibilty that any of your debt could be statute barred?

[pugsley]

I have a student overdraft of £2400 which I can't pay off, credit agreement wouldn't apply

 

hardly any of my creditors have supplied credit agreements, but they keep passing them on to other companies and I'm sick and tired of it all, really fed up with all the letters, I think the statutory demand would do me a favour, they wouldn't get a penny if it goes to bankruptcy, I just want it all to go away and have a fresh start.

 

I don't want to fight the demand or even acknowledge it, I am sending a cca on monday but the 12 days will not be up before it runs out anyway.

 

I have quite a few defaults on my credit file now and they will be there for another 5 years, I can't really see a reason not to go bankrupt, apart from the job I wanted to do as a conveyancer, I might have to change career plans now.

[lickthewallfatboy]

the very fact that there are no CCA's means you do not have to pay.Please start a thread in the debt collection industry or genearl debt issues section.

 

That's where most of the help is to be found.....seriously-don't just lie down and take this.I think you are giving up way too easily.

 

If the debts can't be enforced,the defaults will have to be removed as well!!There are many more cases here much worse than yours

[fermi]

car if worth less than £1500 could be kept

 

I'm afraid that info cannot generally be said to be true. Cars of that value and lower can be and often are taken if you cannot convince the official receiver that the vehicle is necessary to you.

 

See: http://www.consumeractiongroup.co.uk/forum/formal-solutions/132995-bankruptcy-do-you-still.html#post1416005