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  1. I need to make a quick decision about this one guys. Basically, I was about to file for bankruptcy as it seems the best option for my situation (renting, safe bank account with under £1000 in, total bank account/card debts of £20K, self-employed but minimal trade until I change career). I had considered an IVA through Payplan but would have ended up paying back 40% or so of the total while I still receive some benefits such as HB, TC and CTC. So, everything was set, I have basic stock left which wouldn't be easy for an OR to sell off...but then I realised that my mother had made around 5 investments for me when I was young, from which the interest was going into her bank account monthly. These investments do total £20K, and thought it best that she close them in case the OR discovers them and puts the blame on me. However, cheques came in my name. What do I do? As the interest was passing to her did they legally become her money? My accounts do actually show I owe her several thousand from loans, but cashing them in then transferring to her looks pretty sneaky no matter what reason. What's the best option for me now, scrap bankruptcy? All replies and opinions on this are hugely important to me right now.
  2. Thanks very much for your reply and personal experience GreenPimpernel. I was beginning to think no replies was the norm! So basically, you think it would be wise to open a new current account now with a small payment as a back-up?
  3. I hope someone can give me some advice here. I'm self-employed but have debts which are proving more and more difficult to cope with. At present I'm undergoing an HMCE tax investigation due to previously registering for VAT and then de-registering when turnover dropped below the threshold about 2 years later. My accounts are messy but nothing underhand, although I just have a feeling I won't get off lightly after so many questions were asked that I couldn't answer properly (and I had to stop paying ridiculous sums to an accountant letter after letter). I actually have close to zero disposable income now as business dropped away due to the recession and other costs all came at the same time. My other debts are about £20K to 2 credit card companies, £3000 overdraft on Barclays business account and £800 overdraft on Barclays personal account. The only other debt I have is £2000 to just one supplier who is beginning to chase. My situation is as follows: recently separated from wife and living at home with parents currently before working out my next step. The business is registered with HMCE to that same address although I have a storage unit (no contract). The only assets in my name is my van. No mortgage or savings. My credit rating is already very poor and I'm really not so worried about trying to obtain any more credit in the near future. My ideal situation (I think) would be to try and start afresh by going into IVA or something like it and then restarting my little business to retain my customers. I could still keep it as ad-hoc extra income while I work a full-time job. I'm half thinking of returning abroad to work full-time too and still keep a little business going from there as I did before. I am a Brit national though. Would any debt help options still enable me to open a bank account and start a new sole trading business, or would I have to do business either as by setting up foreign company or by a family member starting up a UK business and trading for me?
  4. bump. Really need some opinions on this...must have been lots of folks on here who've been in similar situations...as well as a few who know the legalities.
  5. Having moved out of a commercial unit at the end of the lease the greedy landlord is smacking me for a £700 redecorating bill. I painted window sills and one room when I moved in, and hired a guy to repaint it magnolia when I moved out (as I mostly live abroad), on their request. The unit in question is a VERY old brick building, empty space, concrete floors. Suitable for storage only really. However, I got multiple messages saying the decorating was below parr and they wanted skirting boards sanded/repainted etc. etc. No damage was done - actually impossible to damage anything in that building. I feel he's trying to screw me for doing up this outhouse to make it more rentable for him. No dilapidations were carried out by the previous tenant when I moved in. He warned me he'd have to redecorate at my expense, which I assume he's done. His bill is ridiculous. I haven't seen any photos of the shoddy work either, but I did choose to ignore his requests for payment. He has now written formally giving me 30 days to pay but I'm determined not to give in. I am still abroad and could choose to ignore him. However, as a sole trader my address is listed at my parent's house. My question is what would you do in my position? I will be going back to a different property in UK next month, but any solicitor's letters could be presented to my folk's home even if I do not live there? I have little doubt he'd use his lawyer. Or, should I reply disputing his bill and taking it as far as it will go. Worst case scenario is a CCJ I guess, but to be honest if credit is the only resultant problem from that it will make little difference to me.
  6. Ok I've blacked out the personal info parts of the Lease Cover Letter. It was verbally explained to me by the lawyer that the contract had 18 month break clauses and the letter implied this. Only now did the owner tell me that the 18 month break clause mentioned in the below letter was applicable only for the FIRST period of 18 months after the contract was signed - certainly not mentioned in the lease itself. Any references to the break clause were only present on the two attached pages. I've love to know if I have a case to exit the property as per the term within the cover letter below. http://i734.photobucket.com/albums/ww344/CarlBkk/Pollardletter1-1.jpg
  7. Ok I've got larger legible scans to view now. Bump. Thanks in advance for any advice and recommendations. http://i734.photobucket.com/albums/ww344/CarlBkk/Leasepage14.jpg
  8. I'd be very grateful if someone could take a look at these two pages from a commercial lease. I want to exit the property and was under the impression from the solicitor that I had 18-month break clauses. However, he has just informed me that the earliest I can exit is July 2010. According to his cover letter (attached to the lease) he states that I am free to leave at end of each 18-month period. I'm very confused. Where would I stand legally if I wanted to get out? I doubt I can afford the rent from Jan - July, so last resort is voluntary bankruptcy.
  9. Now using photobucket...hopefully these scans of their CCA documents are now clearer. Many thanks. http://i734.photobucket.com/albums/ww344/CarlBkk/CCAapplicationform.jpg http://i734.photobucket.com/albums/ww344/CarlBkk/CCAletter1.jpg http://i734.photobucket.com/albums/ww344/CarlBkk/CCAletter2.jpg http://i734.photobucket.com/albums/ww344/CarlBkk/CCAterms1.jpg http://i734.photobucket.com/albums/ww344/CarlBkk/CCAterms2.jpg http://i734.photobucket.com/albums/ww344/CarlBkk/CCAterms3.jpg http://i734.photobucket.com/albums/ww344/CarlBkk/CCAterms4.jpg
  10. I have attached scans of the each of the pages they sent me, hopefully clearer to read. If anyone can comment on they're enforcability please let me know - just today received the letter they'll be passing it over to the debt collectors. (Just checked the attachments...although saved a decent size they seem to all be too tiny when uploaded on here...any ideas?)
  11. I'm struggling to pay off monthly amounts of nearly £400 to MBNA on a £15,000 debt so I went down the "stop paying and CCA" route instead of voluntary liquidation (which would affect my livelihood). After several weeks my CCA has arrived with the back terms scanned in and attached. The first sheet is a copy of my original application form stamped by them on 6 Nov 1999. My signature is clearly legible. They have also enclosed the 4 full-page printouts of the new updated terms and conditions (regulated by CCA 1974). What options do I have now? Is the get-out clause now gone? A worried debtor.
  12. Thanks Elsa, the account was a Barclays current account, so unconnected with MBNA. They actually called me today and said that they didn't receive in the system any note that they received a CCA (despite me having signed-for proof), and so the process continues. I'll contact Barclays tomorrow for the disputed transaction forms and see what happens.
  13. Having sent a request for CCA to MBNA over 2 months ago with no reply, MBNA sent 2 letters in the meantime saying that after the second attempt they will not continue trying to take the minimum payments from my account with the direct debit. They then mailed me saying they have passed the debt on to a collection agency, overlapping with my letter claiming the account is in dispute last week. Yesterday I noticed that they STILL took a minimum payment (which is quite large) from my account, as at that time there happened to be enough funds in there. I'm kicking myself for believing their mailings and forgetting to cancel the direct debit online (which I've now done). Is there any way to recover that payment made if the account was in dispute or they were over their CCA response deadline? ...or shall I just kick myself one more time then forget about it?
  14. I'm not sure if I understand this correctly (as a newbie in debt with MBNA and wanting to get out of it): If I ask for a CCA from them and they can't provide me with a signed copy (circa 1998), then I can stop repaying them with no legal repercussions?
  15. Having read the stickies above, it seems my case doesn't fit clearly into any category. Can anyone give me an opinion on what they'd do? A really simple situation: I'm a sole trader, no employees, no assets, about £17K debt on two credit cards (paying off minimum every month which I may no longer be able to do), a commercial lease on a business unit that so far I'm up to date with but think I'll no longer be able to pay. In the business unit I have (at cost) about £20K worth of stock (wish I could sell it all!). I'm struggling. Is BR for me do you think?
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