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  1. Thanks, I will try to find out do's and don't prior to filing for bankruptsy from somewhere. Regards
  2. Thanks gizmo111, A computer purchased 12 months ago for £1,700, a car with a sale value of approx £4,500 (worth more to me) and a few very recent purchases around the £100 - £150 mark. I suppose my question was/is, will puchases be seen as taking money out of my bank account to avoid the OR/trustees? What is classed as avoidence or laundering? Regards
  3. I have a question if you don't mind answering. Are there any assets the OR will allow you to keep whether it was purchased recently or not? i.e clothes, electrical equipment, safe, computer equiptment etc? Is there a definitive list somewhere? Regards
  4. gizmo111, The car is not on any form of finance. The Phantom, so there is a chance I may be able to keep it, thanks for your input.
  5. gizmo111, thanks for the link. I have a car wourth around 6k, if I declare myself bankrupt would I be allowed to keep it, I would be unemployed but looking for a job?
  6. Thanks 42man, Should I try this with all of my creditors or just the ones that will not accept the token payments or who have not stopped the interest on the account? Am I not alerting them to the fact I will try everthing to get out of the debt, and will it not be seen adversly by them? Regards.
  7. Thank you phat256. What is a CCA? My initial thoughts are; if I have a DMP with the amount owed it will probably take at least 15 years to clear the outstanding debt. What is better, having the debt for this length of time of having the indignity of going bankrupt? At the moment I cannot think straight and colate one with the other, all views are welcome. netmot
  8. Hello all at the CAG and all of those people helping one another out with their advice (my first post). I have 3 loans totaling £45,000 and 7 credit cards with totals of £70,000 making total owed of £115,000. I contacted the CCCS (mid July), they have stated that I should make token payments of £1.00 pm, which I am doing. I have received default notices on a few cards and am due the others soon. I have not received any CCJ's yet. Up until now I have been using my savings, this has now run out, to pay the lenders the monthly amounts. My Income has reduced from around £40k a year to £10k approx. I am self employed and paid on commission only (very irregular payments). I live in rented accomodation and the only real thing of value I have is a car worth around £6,000. My debt is in the early stages of default, but I would like to be prepared when events become a lot more serious. If possible I would like views on the following: Should I just file for bankrupcy and then get discharged as soon as possible (I will lose my job if this happens - but at least I will be debt free)? An IVA may not be possible as I do not have a regular income and therefor cannot guarantee to be able to pay the agreed monthly amount. What other options do I have, have I missed anything? Your help would be very much appreciated and apologies for the length of this post. Kind regards netmot.
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