Debt Release Direct

[JNJL]

Hi

 

We (my husband and I) have made the decision to go bankrupt after lots of help and discussion on here, just had a meeting with debt release direct who apparantly deal with the whole process for us and they act as our insolvency practitioner

 

Has anyone here had any dealings with them or any advice to offer?

 

Just want to know they are legit before we pay them any money and get ourselves further in this mess???

[WelshMam2009]

Hi

 

We (my husband and I) have made the decision to go bankrupt after lots of help and discussion on here, just had a meeting with debt release direct who apparantly deal with the whole process for us and they act as our insolvency practitioner

 

Has anyone here had any dealings with them or any advice to offer?

 

Just want to know they are legit before we pay them any money and get ourselves further in this mess???

 

Sounds a bit like an unnecessary expense to me...how much are they asking??

[fermi]

There is no need to pay a third party a penny.

 

There is plenty of help here and elsewhere for free.

 

To start with: http://www.consumeractiongroup.co.uk/forum/show-post/post-1929934.html

[JNJL]

They charge a complete fee of £1500 fo rboth of us which includes court fees and then they act as our insolvency practitoiner?

[phat256]

agree with fermi stay away from them !

 

keep your money as you will ned dit after your Br while you sort out bankaccount etc......

 

at the end of the day u wil still have to go to court yourselves . although the form are a pain to fill in , it help me to realise how much in debt i was in(after so many years tuening a blind eye)

[WelshMam2009]

They charge a complete fee of £1500 fo rboth of us which includes court fees and then they act as our insolvency practitoiner?

 

I'm pretty sure that they will receive additional fees, above and beyond the initial payment, to act as your IP and you don't actually need one to file for bankruptcy as the Official Receiver can administer your estate.

 

The statutory bankruptcy fee for self petitioning has just been increased to £510 and you can file for bankruptcy yourself online at:

 

The Insolvency Service Website

 

Also, take a look at this booklet here first...

 

http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/guidetobankruptcy.pdf

[JNJL]

Thanks for the advice will do, does the £510 include court fees and IP?

[phat256]

yes the 510 pounds cover the court fee and the OR fee. if you are on certain benefit or low income you can have the court fee waived !

[sequenci]

If anyone is seriously considering the bankruptcy route, I will help them with any advice that they ever need for free, via this forum.

 

The process is actually relatively simple and there is no need to pay a company to help you. The only costs that you should pay are the Bankruptcy fee £360 and the court fee £150 (if applicable).

 

Via the day job I've helped hundreds of people take this route so I'm pretty well versed in it (and other debt options too).

[rhinogrevious]

]HELP !!

 

i need some advice on how to go about bankruptcy, i contacted DRD and they sent me some forms to complete,on the phone they advised me bankruptcy was the way to go, now they are saying i have to voluntary reposess my house before going bankrupt. the short version as to why i am at this point is ... i had to leave the marital home 18 months ago due to husbands behaviour, i have applied for divorce (still not done) my husband continued to live in the property, it was nearly reposessed in May,i have been paying the mortgage since may to avoid reposession but i have decided against paying this as he refuses to pay anything (i have a rent on my flat to pay too) Can i apply for bankruptcy even though i am joint named on the mortgage, what happens to the title deeds, what happens if i declare bankruptcy, do the bank chase my ex to pay the mortgage or do they reposess? what will i be liable for ?? sooooooo confused ????

 

any help would be appreciated

 

stress levels are now at their maximum !!!

[dpick]

I was in a straight DMP with DRD they wrote to all creditors and after about 6 weeks most communications were then dealt with by DRD. Only problem creditors were MBNA IF and Crapital One. they kept trying to contact me by phone. I advised DRD that I would be CCAing MBNA and 3 other creditors. Not one creditor made any response to my requests. So when they went into default I stopped payments to them. DRD had me increase payments to my other creditors so I was paying the same amount each week. I later received a so called agreement from MBNA and was advised that agreement was unenforceable, I informed DRD that the agreement was unenforceable and I would no longer be paying MBNA. DRD then made prorate payments to my other creditors from the stopped MBNA payment. MBNA screemed very loudly buy but by then they were my only creditor that were calling me. I have had great pleasure in telling MBNA a few rather naughty home truths they sem#em to hag up quickly these days. I did have to pay DRD £30.00 a month while I used them to get my debts into a more manageable state ie pay off the ones that have an enforcable credit agreement the rest told to go forth and ????. I have now dropped DRD as all legit debts are paid off and am managing my other debts my self and enjoying baiting any DCA who is daft enough to ring me.

 

dpick

[sequenci]

]HELP !!

 

i need some advice on how to go about bankruptcy, i contacted DRD and they sent me some forms to complete,on the phone they advised me bankruptcy was the way to go, now they are saying i have to voluntary reposess my house before going bankrupt. the short version as to why i am at this point is ... i had to leave the marital home 18 months ago due to husbands behaviour, i have applied for divorce (still not done) my husband continued to live in the property, it was nearly reposessed in May,i have been paying the mortgage since may to avoid reposession but i have decided against paying this as he refuses to pay anything (i have a rent on my flat to pay too) Can i apply for bankruptcy even though i am joint named on the mortgage, what happens to the title deeds, what happens if i declare bankruptcy, do the bank chase my ex to pay the mortgage or do they reposess? what will i be liable for ?? sooooooo confused ????

 

any help would be appreciated

 

stress levels are now at their maximum !!!

 

Hi there,

 

Is there equity in the property?

[rhinogrevious]

Hi there,

 

Is there equity in the property?

 

Hi, there isn't any equity due to the fact that he has racked up £5K of arreare to date and rising

[sequenci]

You can declare yourself bankrupt at any time, prior or after the house transfer. If there is no equity then it is very likely that the house would not be sold as part of the bankruptcy. Are you looking to keep it?

 

I think you need to talk to an organisation that is trained to advise on bankruptcy issues, please consider calling National Debtline (a charity) on 0808 808 4000.

 

Also, please consider starting your own new thread, you'll get much more support that way!

 

Best wishes,

 

Seq.