Bankruptcy stigma, advice of outstanding debts

[Word-Soup]

Hi there,

 

I am not quite in the same position as you, but I have decided after struggling for so long to go for bankruptcy.

 

My debts total £18-£20k, StepChange have been a great help, as has everyone on this forum.

 

Like you, I struggle with the thought of going BR. I always wanted to pay off all the debts, but the reality is I can't.

 

Slowly, I have faced that.

 

I have been paying £1 to each of my creditors for the last year or so. It keeps them at bay.

 

I was advised to BR, early last year, but didn't want to, still fighting it.

 

Anyway, my thought is, why put yourself through all the hassle of getting back interest, charges, etc., etc.

It will be emotionally tough, I feel, and physically draining.

 

Here is a link I found on the internet for CHARITIES that may be able to help with BR fees:

http://homepage.ntlworld.com/stuart.blackstock/funding/bankruptcy_fees.html

 

I haven't approached any of these myself yet as I have someone local helping me find Charitable Funding to go BR.

 

All the best... and don't worry.

[Word-Soup]

Here is another Charity link that may be able to help with BR fees.

 

http://www.elizabethfinncare.org.uk/get_support/elizabeth-finn-grants/who-can-apply/

[Happyandcontent]

I wondered if I could get some advice/clarification.

 

 

I have numerous debts:

 

 

Credit cards-I currently pay token payments to

 

 

Mortgage shortfall from repossessed property-no court judgement (I plan to challenge the amount they say I owe) , just repetitive letters requesting £65k

 

 

Past utility debts-no repayment plan set yet

 

 

 

 

My situation:

 

 

I am in receipt of ESA and DLA, both mobility/care components (classed as vulnerable?)

I do not own any assets accept a car worth £2500 (jointly owned, I am owner on the log book, as it was cheaper to insure and joint owner is named driver)

 

 

My questions are:

 

 

1. My main concern in bailiffs taking the car, can they do this if its jointly owned?

 

 

2. At present, as I write in assuming that my creditors can only send debt collectors at this stage? (with no power to seize goods)

 

 

3. Can a bailiff be instructed by one of the creditors without a court order?

 

 

5. If a bailiff cannot be instructed without a court order, would I be able to go to court and set up a payment plan to stop a bailiff taking the vehicle?

 

 

Your advice would be greatly appreciated.

[dx100uk]

1.yes

2.correct

3.nope

4.yes

 

 

have you sent all you creditors a CCA request

list your debts please

 

 

dx

[dx100uk]

I've merged your new thread to your existing thread

as it answers many questions people will ask

that the answers for are already here now.

 

 

dx

[GrumpyToSayTheLeast]

I wondered if I could get some advice/clarification.

 

I have numerous debts:

 

You would be better telling us about them as there are those on here that can work wonders at reducing these debts for you.

 

Credit cards-I currently pay token payments to

 

Mortgage shortfall from repossessed property-no court judgement (I plan to challenge the amount they say I owe) , just repetitive letters requesting £65k

 

If no judgement, no bailiff. You keep the car.

 

Past utility debts-no repayment plan set yet

 

Again, if its all pre court, the no bailiffs will call but DCA might.

 

My situation:

I am in receipt of ESA and DLA, both mobility/care components (classed as vulnerable?)

I do not own any assets accept a car worth £2500 (jointly owned,

I am owner on the log book, as it was cheaper to insure and joint owner is named driver)

 

This may make you vulnerable. There is litle to worry about if no court order but best to get things in order before it happens, if it happens.

Is the car taxed as disabled? If so, unlikely it would be taken.

Do you have a blue badge? If so, keep it on the dash and it cant be taken.

Does the named driver have a blue badge? If so, keep it on the dash and it cant be taken.

 

My questions are:

1. My main concern in bailiffs taking the car, can they do this if its jointly owned?

 

Yes, they could, even if its jointly owned. We do take jointly owned assets and we leave it up to the creditor to decide to take it to interpleader

or not if we get a claim. Not to worry though as you have no bailiffs chasing so it cant be taken.

 

2. At present, as I write in assuming that my creditors can only send debt collectors at this stage? (with no power to seize goods)

 

No goods can be seized without a court order. And assuming you have not recently changed address and are keeping an eye on your credit file

and post, you would know before bailiffs call.

 

3. Can a bailiff be instructed by one of the creditors without a court order?

No.

 

 

5. If a bailiff cannot be instructed without a court order, would I be able to go to court and set up a payment plan to stop a bailiff taking the vehicle?

 

Yes, you can enter into an IVA or DRO with the courts to settle your debts, but you best off seeking advice here first and seeing what you ACTUALLY owe.

 

 

Your advice would be greatly appreciated.

 

Hope i have helped.

[Happyandcontent]

Thank you so much for the clarification, I was just very confused in what order steps are carried out to recover specific debts, that's been a great help and thanks again

[citizenB]

Happy, have you started a thread in the mortgage forum regarding the shortfall situation ?

 

When was your property repossessed ?

[Happyandcontent]

Happy, have you started a thread in the mortgage forum regarding the shortfall situation ?

 

When was your property repossessed ?

 

 

In 2012

[citizenB]

In 2012

 

So not that long ago.. Start a thread in the mortgage forum and we might be able to offer some advice on that for you.

 

BTW, you mention Stigma in your first post, there is little or no stigma attached to BR in today's world - and if it you have so much debt weighing you down and it is the right thing for you, then consider talking to National Debtline about that. That way you can hoover up all your debt and after a period of time, I think it is 1 or 2 years, you will then be able to start your life again.

 

https://www.nationaldebtline.org/EW/factsheets/Pages/01%20EW%20Bankruptcy/Default.aspx

 

We have had one or two people say that it is the best step they took and are now moving forward.

[f16]

 

BTW, you mention Stigma in your first post, there is little or no stigma attached to BR in today's world

 

We have had one or two people say that it is the best step they took and are now moving forward.

 

Happyandcontent,

 

Been there,done it, made the film, got the tee shirt !!!!! (CB make that 3)

 

There is very little "stigma" with BR these days. .................... Times have changed.

No one is going to "lock you in the Tower of London. ... Throw you to the dogs. ... Have you hung drawn and quartered"

 

Trust me on this one. ............... Every BR has it's own set of circumstances as to "how /why" it occurred.

 

It will end the never ending phone calls, the letters, the "dread" of the post arriving or a knock at the door.

 

In my experience.

1 : you get your life back

2: your health improves !!!

3: you sleep at night.

4: your not alone.

 

I just wanted too let you know. .. Your not alone and it was the best thing (move) I made.

 

It all seems "doom and gloom" at the start, but as CB says 1 year and the dust settles. (the BR is over) Phone calls/ "chasers stop on the day of the BR.,

After 6 years it wont even show on your credit file.

 

Don't be beating your self up. ............. $h1t happens :wink:

Keep your chin up. Best wishes.

f16

[*RainbowTears*]

Happyandcontent,

 

Been there,done it, made the film, got the tee shirt !!!!! (CB make that 3)

 

There is very little "stigma" with BR these days. .................... Times have changed.

No one is going to "lock you in the Tower of London. ... Throw you to the dogs. ... Have you hung drawn and quartered"

 

Trust me on this one. ............... Every BR has it's own set of circumstances as to "how /why" it occurred.

 

It will end the never ending phone calls, the letters, the "dread" of the post arriving or a knock at the door.

 

In my experience.

1 : you get your life back

2: your health improves !!!

3: you sleep at night.

4: your not alone.

 

I just wanted too let you know. .. Your not alone and it was the best thing (move) I made.

 

It all seems "doom and gloom" at the start, but as CB says 1 year and the dust settles. (the BR is over) Phone calls/ "chasers stop on the day of the BR.,

After 6 years it wont even show on your credit file.

 

Don't be beating your self up. ............. $h1t happens :wink:

Keep your chin up. Best wishes.

f16

 

 

+1

 

I can't add anything further as F16 pretty much said it all.

 

I do wish you all the best in going forward.

 

Good luck!

[Happyandcontent]

I have sent all creditors letters to reuest if they will wipe my debt due to ill health https://www.nationaldebtline.org/EW/sampleletters/sole-letters/Pages/Write-off-the-debt-(sole-name).aspx

 

 

I have received a reply from a few (one being capquest) asking me to send it a medical letter from my GP to verify my illnesses etc, is this normal to send such confidential information to them?

[dx100uk]

IMHO none of their business

 

 

dx

[caro]

I would suggest you ask your GP for a letter saying that due to your medical condition you won't be able to work again, assuming that is the case. I can see why you wouldn't want to give details, but if you want them to write the debts off due to your health it doesn't seem unreasonable for them to ask for evidence of this, or anyone could ask the same, even if healthy.