Thread: anyone done bankruptcy? or been took by capquest

i just got a letter from capquest ive tryed to make arrangements in the past but nothings good for them they decline every offer i make i offer little as possible knowing that the fact i cant even afford that lol with my bills and looking after my family, when i was made redundant everything piled up and kinda got out of control as i couldnt pay everything it was either pay 1 miss 1 and then month later pay the 1 i missed and miss another 1 etc..

it really got to the point we we was struggling alot havin to run a house and its bills and then try and meet the payments for other things, it was fine while i workin it was managable, but now im back in work on less pay than i was gettin before i stil can make there payments with everything else and it seems as the months have gone on ive been unable to pay but i have offerd to try and sort it even looked into debt management filled everything out was goin to go ahead until i got this letter?!

it says there preparing a Statutory Demand and should be completed by the 15th of this month and wil served upon me, now im just wondering if anyone has had the same thing and was actually took to court for bankruptcy? i did come across another post where someone was sent the paperwork and sent miles away to a court that hadnt even been informed of what was happening nor did they do the claims in that court anymore,

now they are preparing this paperwork im pretty happy i no i shouldnt be but at the end of the day i cant keep on top off everything and i say let them take me for bankruptcy if you didnt have to pay to do it i would do it myself and would have along time ago,

as anyone else been took for bankruptcy by these or by anyone? what happend? and does your belongs actually get taken?, as my wife is fretting alittle well alot, as i moved in with her so i now pay the rent and bills for the house, the only thing i own is my clothes lol and a dvd player lol i did have a car but sold it as the wife has a little run around, she cant offically drive alone yet mind you as shes learning so i use it for work, shes heard rumours that they can take mostly anything except beds, cooker, clothes, so she says shes goin to remove them and store them somewhere i dont no about until its over.. id just like to put her mind at rest. im sure they dont take much or nothing at all.

any info from anyone if you have been through this would be great, really helpful..

Sorry to hear of your plight. It's quite a common story on CAG.

Statutory Demands are served by the creditor directly on the debtor - there is no court involved at this point.

I would suggest this thread is moved to 'Formal Solutions : Bankruptcy' forum where you will get a lot of knowledgable help.

Now to find a mod ...

ok thanks wasnt sure where to put it..

anyone done bankruptcy? or been took by capquest
i just got a letter from capquest ive tryed to make arrangements in the past but nothings good for them they decline every offer i make i offer little as possible knowing that the fact i cant even afford that lol with my bills and looking after my family, when i was made redundant everything piled up and kinda got out of control as i couldnt pay everything it was either pay 1 miss 1 and then month later pay the 1 i missed and miss another 1 etc..

it really got to the point we we was struggling alot havin to run a house and its bills and then try and meet the payments for other things, it was fine while i workin it was managable, but now im back in work on less pay than i was gettin before i stil can make there payments with everything else and it seems as the months have gone on ive been unable to pay but i have offerd to try and sort it even looked into Debt Management filled everything out was goin to go ahead until i got this letter?!

it says there preparing a Statutory Demand and should be completed by the 15th of this month and wil served upon me, now im just wondering if anyone has had the same thing and was actually took to court for bankruptcy? i did come across another post where someone was sent the paperwork and sent miles away to a court that hadnt even been informed of what was happening nor did they do the claims in that court anymore,

now they are preparing this paperwork im pretty happy i no i shouldnt be but at the end of the day i cant keep on top off everything and i say let them take me for bankruptcy if you didnt have to pay to do it i would do it myself and would have along time ago,

as anyone else been took for bankruptcy by these or by anyone? what happend? and does your belongs actually get taken?, as my wife is fretting alittle well alot, as i moved in with her so i now pay the rent and bills for the house, the only thing i own is my clothes lol and a dvd player lol i did have a car but sold it as the wife has a little run around, she cant offically drive alone yet mind you as shes learning so i use it for work, shes heard rumours that they can take mostly anything except beds, cooker, clothes, so she says shes goin to remove them and store them somewhere i dont no about until its over.. id just like to put her mind at rest. im sure they dont take much or nothing at all.

any info from anyone if you have been through this would be great, really helpful..

Hi

I am sorry to hear of your situation. You will get some excellent advice on here so stay calm for a little while and give CAGers a chance to read your thread.

I don't know a huge amount about bankruptcy but here are few things I have thought of as a result of reading your thread:

1. The DCA's talk a lot about bankruptcy but in reality they would be stupid to carry out the process unless they know that you have sufficient assets to pay their costs and the amount they are owed AND the amounts owed to your other creditors.

2. For them to make that decision they would have to know what you have got AND who your other creditors are and what they are owed. I would think it very unlikely they have that information. The letter you have is a mean and nasty threat and they are very unlikely to follow through with it.

3. If they have a good case they are better of issuing a county court Summons as a. it is cheaper as an overall process, and b. they get to keep the full amount if they win without involving other creditors.

4. I therefore think it unlikely you will be made bankrupt. They may go as far as to issue the SD but if you decide to ignore it and let them make you bankrupt (as I did 3 times with other creditors) they will simply put you back on the debt collection treadmill and try something else.

5. In the absence of the "relief" of bankruptcy you should try and get some measure of control over creditors. Here is what I would do in your situation:

a. Do an income and expenditure sheet. On one side of the paper list all your earnings/income after tax and deductions. On the other side list your expenses as follows:

Rent/mortgage
Council Tax
Food/Heating/Utilities
Transport
A small Reserve (say 5% of the income)
Everything else

The maximum amount you can pay your creditors is the figure you get when you subtract the expenses from the income.

b. At this point you can decide how much to pay your creditors and in what proportions. That is what they can have. There is no more and nothing they can say or do will materialize money where there is none.

You can then offer them what you have calculated they can have. they have two choices. Accept it or take you to court. If they win in court you can tell the judge you made them an offer, show him your I&E and the judge will make them accept the offer (or a lower one even?).

6. You can at this point challenge the debts as some of them may not be enforceable or can be reduced due to incorrect charges and so forth.

thanks guys i wil keep it updated, as for the income & expenditure thing we have sat down and done many lol and it always turns out to show more going out than whats coming in i dont no how we manage it.

we've tightend are belts alot,- especially on shopping nd things we used spend around 80-90 a wk in morrisons/tesco etc on food and stuff but since we have swapped to iceland lol 30-50awk now we budget things all the time we sometimes calculate while we fill the trolley lol best way really if u spend too much and only want to spend a certain amount

How much do you owe crapquest ?

8k it was a credit card i had yrs ago

yeah its more than 15k in total well more in fact

I was made bankrupt by statutory demand. If you want to know mail me and I'll be happy to help in anyway I can x

UPDATE- capquest keep phoning me since i have recieved the letter confirming that they are processing the satory demand on the 15th of march they keep asking me how am i going to pay the outstanding amount so basically i said to them that i cant pay it as i have tried to offer them amounts in the past but they kept saying its not enough as i also have other debt that i am trying to pay off since i was unemployed for 8 months i remained very calm and polite through out the phone call she even had the cheek to say why dont you go bankrupt i said why? i have a letter stating you are going to do it if i ignore the demand, then total silence as if she didnt know what to say lol so as above we'll see if i get anymore letters like this o and at the end of the phone call i was nice enough to say thanks for your time and have a good evening but never got it said back