bankruptcy

[SpringerSpaniel]

Re: bankruptcy

If you haven't alreay, it might be worth having a professsionally done I and E statement and asking creditors to write off the debt or at least to take a token amount like the £4/month with an explanation of your circumstances.

In my opinion, this is worth a go if you haven't done it already. If they refuse all this, I would then look at the bankruptcy option with appropriate advice, as you don't have much to lose. But i don't think it's the first option.

[wales01man]

Re: bankruptcy

The attitude of the creditors is no to any small monthly payment

[lindalou]

Re: bankruptcy

There initial response is usually like that, I would write to them with your I and E, remind them of the requirement for them to consider writing off debts under OFT guidelines.
Are these debts solely in your name? Also mention your medical conditions and the fact that you find this is adversely affecting your health. I know that all this is probably common sense but it makes a big difference that it is in writing as they cannot then say they were unaware of your situation.
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[wales01man]

Re: bankruptcy

We have been thinking long and hard and one option we might try is to write to my creditors and ask if they will cancel the debt due to my circumstamces im on bebefits till the day i die there will not be any change doubtfull the mortgage company will cancel the shortfall worth a try was wondering if because its a joint debt they might put it all onto my husband if this works my husband will then make himself bankrupt his sole income is 55.55 cares allowancen i get all the benefits in my name and he is not entitllted to any more maybe somehere has gone throgh this scenario and can advise although any advice would be of help

thanks all

[SpringerSpaniel]

Re: bankruptcy

I really feel for you in this situation, I have myself gone through massive downturn of income due to becoming disabled.

However it seems to me that the two viable options are:

i) you continue to negotiate with the creditors using a full I an E and possibly through a third party and describe your condition and your circumstanmces, explaining that you have nothing else to give them;

or

ii) You go down the bankruptcy route as you don't have much if anything to lose and it will get DCAs etc off your backs, but I would suggest you speak to the BA first


If any of them are making your lives absolute hell, you can claim againts them for harrassment and htere may be compensation for this.

At least you have somewhere safe to live !

[TUTTSI]

Re: bankruptcy

Not sure that the mortgage people will change this to soley to your husbands debt - you have more chance of them writing the debt off when there is zilch chance of them of getting a penny.

You should write to them setting out your situation and that your only income is benefits which barely covers your days to day living costs. I would include a joint income and expense summary for them. Advise that you dont own a home and do not have any assets and also about the disability. You can tell them you can obtain a letter from your doctor should they require proof. If you post up a draft on here omiting your personal details we can have a look before you send it and between us we can amend if needs be.

We have been thinking long and hard and one option we might try is to write to my creditors and ask if they will cancel the debt due to my circumstamces im on bebefits till the day i die there will not be any change doubtfull the mortgage company will cancel the shortfall worth a try was wondering if because its a joint debt they might put it all onto my husband if this works my husband will then make himself bankrupt his sole income is 55.55 cares allowancen i get all the benefits in my name and he is not entitllted to any more maybe somehere has gone throgh this scenario and can advise although any advice would be of help

thanks all

[wales01man]

Re: bankruptcy

Thanks
they are not making our lives hell at the moment but as more DCAs find us i can see the problems especially with my husband debts we are just getting the fortnightly letters from some playing good cop/bad cop some polite next threatning all though we know their powers are limited as said on forums they cant hang you for debt we do not reply to letters or phone them and if they should get our phone number we would change it the funniste thing is reading the crap they put in writing and the job titles of those sending the letters thankfully we know what they can or cannot do but someone without this knowledge would be having nightmares we still will be looking at what to do
thanks all

[TUTTSI]

Re: bankruptcy

Here is a selection of harassmenet letters should they start to get heavy. http://www.legalbeagles.info/forums/...read.php?t=286
If you do write to a DCA never sign the letter with your normal signature.

Our experience is that most DCA's have bought debts for nothing and wants £££'s from it. For sure they cannot threaten you - do not speak to them on the phone at all and ask them to keep everything in writing and never admit to any debt. The majority of the DCA's are useless and try and get peeps like you to cough up.

Can you please let us know which DCA's are giving you a hard time and are threatening as they may not even have had the debt properly assigned to them.

We will help you through this.

Thanks
they are not making our lives hell at the moment but as more DCAs find us i can see the problems especially with my husband debts we are just getting the fortnightly letters from some playing good cop/bad cop some polite next threatning all though we know their powers are limited as said on forums they cant hang you for debt we do not reply to letters or phone them and if they should get our phone number we would change it the funniste thing is reading the crap they put in writing and the job titles of those sending the letters thankfully we know what they can or cannot do but someone without this knowledge would be having nightmares we still will be looking at what to do
thanks all

[wales01man]

Re: bankruptcy

We are still going through all the possibles we can do a question hass risen regarding my husbands debts this is he cannot remember all of them if i can get mine written off and he decides to go bankrupt will all his debts up to the bankruptcy date be written of even if some surface later i realise i shall need more advice and when im fit and able i shall seek some at the moment the advice i get fro m her has really helped

[TUTTSI]

Re: bankruptcy

Just dont let those DCA harrass you.

[wales01man]

Re: bankruptcy

My husband and I have decided what we will do regarding our debts mine being about 17j and his around 60k we shal wait for the debt collectors who are chasing me to apply for a CCj against me and then i shall go bankrupt and stuff the lot of them i really cannot be bothered in entering into a letter writing marathon with any of them we cant afford any repayments and after reading dozens of posts on here we feel bankrupcy is the way forward and from advice we had is our best option ,
As for his 60k debts if they find him we shall do the same we feel there is less woory this way and with a little scimping and saving we can raise the fees quickly,We know our credit ratings will be zero minus but we hav no desire EVER to have cards loans or credit if we cannot afford something we dont need it?Would love to here from anyone reading this their thoughts moght sound the wrong attitude but as they all say they cany hang you for debt

Thanks for reading this

[wales01man]

Re: bankruptcy

Here i am again Today came the next letter about the mortgage shortfall from Drydens solicitors threatining further action should i not contact them and make arrangements to pay over8k or to enter a payment agreement needless to say neither will happen i do not have the money now or the money to pay monthly what i would like to know from anyone on here is have you ever known Drydens to carry out their threats or what will they try next i will not contact them and never have my house was sold after repossion for big thousabnds less than its value i will not pay them although i wonder what threats will come next or will the miracle happen and they bankrupt me CANT WAIT

[shell]

Re: bankruptcy

We are still going through all the possibles we can do a question hass risen regarding my husbands debts this is he cannot remember all of them if i can get mine written off and he decides to go bankrupt will all his debts up to the bankruptcy date be written of even if some surface later i realise i shall need more advice and when im fit and able i shall seek some at the moment the advice i get fro m her has really helped

Wales have you told them the only money you have coming in is benefits and that you don't own your own home? If you haven't, next time they contact you, tell them. If you have, tell them you have informed them of your situation and as such you cannot give what you haven't got and as such you advise them to make you bankrupt to put an end to all this. The chance of them doing this are very slim as it cost them to bankrupt you and they know there is nothing to be gained from it. Also tell them they need to stop harassing you as you have told them what they need to do. If they don't make you bankrupt and continue to contact you, you will report them for harassment.

[wales01man]

Re: bankruptcy

Still waiting for the next letter we feel time might be right to ask the mortgage company Kensington for a sar we will apply in my wifes name only will they send all data held in her name only or joint as the mortgage was joint i for obvious reasons will not put my name to the request?
thanks for any answers

[wales01man]

Re: bankruptcy

I posted at the weekend and this might not have been viewed by someone with an answer please if you can advise us re the previous post
thankyou