What Happens in this instance - Any Advice

[SimpleSimon]

Hi
firstly I am not planning to do this but if i were to say screw my creditors and not pay them a penny more as they have truly messed me about in trying to get out of debt and paying them off

what will happen I rent so not bothered about getting house taken away or would they make me homeless ?

I would like to know if anyone has done it and gone to jail perhaps?

[Sapphire]

Re: What Happens in this instance - Any Advice

Debtors jails went out with the Victorians, Oscar Wilde, Charles Dickens and the likes were probably some of the last people to languish in Newgate Prison, which was the debtors jail in London. Nowadays the worst that could happen is that you would go bankrupt, have no access to a bank account or credit for a while, but I suppose someone else will pop along with an opinion.

[SimpleSimon]

Re: What Happens in this instance - Any Advice

hi sapphy

thats reassuring and i may consider the worse case scenario, i detest the corruptness of the financial industry its is run on pure greed and deception against the average man or woman had a great book about it , which has made illegal by UK government I wonder why ?? regards S

[basa48]

Re: What Happens in this instance - Any Advice

............Nowadays the worst that could happen is that you would go bankrupt, have no access to a bank account or credit for a while, but I suppose someone else will pop along with an opinion.

So what if the courts make an order to make monthly payments or a forthwith order and the debtor still does not pay. Isn't that contempt of court punishable by jail time?

[wales01man]

Re: What Happens in this instance - Any Advice

Would hope its not contempt of court if it was the prisons would be full of debtors who never paid CCJs
the OP is off course if he wants to to not pay or even acknowledge any debts we have been chased for over 4 years for some havent answered any letters with some debts going through over 5 collectors all still dishing out the threats yawn?

[labman]

Re: What Happens in this instance - Any Advice

Debt is not a crime, so I doubt you'd go to jail for a genuine debt related offence. I agree with Sapphire that bankruptcy is the worst case scenario.

If you are seriously considering this route, as long as you can stand the hassle, it is far better to wait for one of your creditors to make you bankrupt than declare yourself bankrupt. Why? Because they end up paying the fees then, not you.

In case you don't know, you can be made bankrupt for any debt in excess of £750.00

[Guest]

Re: What Happens in this instance - Any Advice

Hi
firstly I am not planning to do this but if i were to say screw my creditors and not pay them a penny more as they have truly messed me about in trying to get out of debt and paying them off

what will happen I rent so not bothered about getting house taken away or would they make me homeless ?

I would like to know if anyone has done it and gone to jail perhaps?

I take ir you have tried the free help available. CCCS, Payplan, etc.?

D

[labman]

Re: What Happens in this instance - Any Advice

Debt is not a crime, so I doubt you'd go to jail for a genuine debt related offence. I agree with Sapphire that bankruptcy is the worst case scenario.

If you are seriously considering this route, as long as you can stand the hassle, it is far better to wait for one of your creditors to make you bankrupt than declare yourself bankrupt. Why? Because they end up paying the fees then, not you.

In case you don't know, you can be made bankrupt for any debt in excess of £750.00

I should have added, VERY importantly, that bankruptcy should only ever be considered as a final measure. It is a major, major thing to go through and has long implications for you. It certainly should NOT be done purely because your creditors are hacking you off.

There is a lot of help out there, and DavyB has mentioned two organisations. Do you mind if I suggest a third which is one of the best around at present, and will help you to decide what direction you take:

http://mymoney.nedcab.org.uk/moneyadvice/

Hope that helps you! :beagle: