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    • god they've got at you haven't they. told you all the usual utter BS. a CCJ vanishes from your credit file on it's 6th B'Day regardless to being paid off or not or paying or not. same with any debt with a registered defaulted date - it vanishes from your file on the DN's 6th B'day regardless. creditfix are Knightsbridge, (they renamed) there are 100's of threads here on Knightsbridge, if i remember rightly 2 of the directors of a certain very big IVA provider were struck off for embezzling £1m's out of debtors. pers i'd stop paying now.  end of . just ignore them all. 99% of your debts are to utterly powerless DCA's and probably were never owed in the first place only goes to firm up my belief from post one..you got had blind. its very easy to deal with the debts even those with CCJ's. can you copy and paste what you credit file says regarding the IVA please?   
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    • Sorry I meant credit fix - I really wish I'd known this before - kicking myself right now  If they come back to me asking for more money I'll cancel it and start trying to deal with the debt myself let's see what they say  Feeling tempted to cancel it now but scared that some of the debts will do more CCJ's on me and I'll have to wait 6 years again.  2 of the CCJ come of this year and then I'll only have the iva in credit file - effectively if I'd have not took out the iva in 2021 I'd have clear score by now - but then again would I because I would have been hounded the last 3 years, as bad as it is it's saves me lots of headaches whilst my debt was still within the 6 year mark.  I think most of them are near there but in all honesty no point chasing them if I do cancel iva I'd jjst wait for the ones who contact me and then start the relevant letter process on them.  Of over 6 years easy if not still possible to write off. My true victory would be having the iva wiped off my credit file as mis sold or something that way I Don't have to wait till 2027 Other option is to fight back and ask for them to offer the creditors to accept payments so far and use the following method    Will your IVA firm agree to complete your IVA on the basic of funds paid to date? The Guidance lists a lot of factors to be considered in deciding whether a settlement on the basis of funds paid to date should be proposed. You should read the list. But that may not give you any feel for whether they apply to you or not. The following are my thoughts on when an IVA should be treated as settled, not failed. They assume that you have £75 or less to pay a month: if you would currently qualify for a Debt Relief Order, then your IVA should be settled now  There is no point in making your IVA fail and you have to apply for a DRO – it will not generate another penny for your creditors. If you are renting and owe less than £50,000, check the DRO criteria now and talk to National Debtline on 0808 808 4000 about whether you qualify. You may have been told at the start of your IVA that you aren’t eligible – still check now as the DRO criteria have changed, your situation has got worse, and some people were given incorrect information about DROs at the start. if you have no assets that would be realised in bankruptcy (eg a house with equity, car worth over £2000), then your IVA should be settled now Same as (1), there is no point in making you apply for bankruptcy after your IVA fails. if your only asset is a car that is worth less than £8000, then your IVA should be settled now A car that is worth say £5000 would normally be sold in bankruptcy and you would be given a small amount to buy a cheaper car. But your creditors would not get any benefit from this as the Insolvency Service takes the first £8000 raised to cover its own costs. if you have significant assets, the closer you are to the end of the IVA, the less reasonable it is to fail it If you have been paying your IVA for 4 years, you have done your best over a long period. It isn’t your fault you can no longer continue. The fact you may have had equity to release isn’t relevant as that simply isn’t going to be possible. if your situation will clearly improve soon, then it’s unlikely your IVA will be settled I mean real improvements, not hoping that prices fall. If I can get them to accept payment to date or threaten with cancellation hopefully they may accept it -  Other option is to try and borrow money and pay make a full and final offer  Or I can just ignore and hope for the best which I'm very tempted to do especially if they respond to my review with bullying tactics despite me being skint as a fart with no mortgage as renting  It's so stressful but I've just checked the iva agreement from 2021 and it's Cabot 2 accounts Lowell about 5 accounts and then lots of repeats of the same debt with for example zopa and Cabot same amount listed twice -  also loyyds banks but I'm sure that's older than 6 years and not on credit file anyway  If I can somehow remove the iva from my credit file I'd be happy 
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i am going to go for bankrupt next month after advice from national debtline and CAB

 

i wonder if he anyone who has gone through and if it worrth it for the clean slate or their personal stories of it ? is it that difficult ? did you have any creditor trying to enforce or getting you a CCJ after Bankrutpcy ?

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Once you are discharged from bankruptcy then you do not have to repay the debts you had at the time you were made bankrupt. If you are discharged and creditors do contact you , then let the Official Receiver who managed you bankruptcy know and they will deal with this for you. Once you are discharged from bankruptcy then you do not have to repay the debts you had at the time you were made bankrupt. If you are discharged and creditors do contact you , then let the Official Receiver who managed you bankruptcy know and they will deal with this for you.

Good luck and look to the future. You will be able to draw a line in the sand and move on.

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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i am going to go for bankrupt next month after advice from national debtline and CAB

 

i wonder if he anyone who has gone through and if it worrth it for the clean slate or their personal stories of it ? is it that difficult ? did you have any creditor trying to enforce or getting you a CCJ after Bankrutpcy ?

 

Hello there.

 

I have not gone through the process myself but I've helped hundreds of others do it. For many the experience is very liberating and although they may be daunted by the prospect of attending a court they soon see that it's actually pretty painless.

 

If a creditor tries to chase you for payment once you have been declared bankrupt just point them in the direction of the Official Receiver. If any creditor tries to obtain a CCJ against you after bankruptcy you'll easily be able to defend the claim on the ground that the debt has been disolved into the bankruptcy (even if you forget to list the debt in your bankruptcy petition).

 

It looks like you've had help from some good sources, I wish you all the best with your quest. If you have any quesries or concerns or just fancy a rant feel free to drop me a line.

 

Best wishes,

 

Seq.

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Just to make you feel a little bit easier. Here is a list of famous bankrupts.

All these persons were very successful and continued on with their careers. When bankrupcy conditions were much tougher. Good luck.

 

Francis Ford Coppola (film maker - The Godfather)

Kim Basinger (Actress)

Barbara Bel Geddes (Actress - Miss Ellie in Dallas)

George Best (Football star)

Bjorn Borg (Tennis player)

Toni Braxton (Singer)

John DeLorean (Car maker - featured in Back to the Future films)

Walt Disney (Founded Disney)

Handel (Composer - messiah)

MC Hammer (Singer)

Ulysses S.Grant (18th President of the USA)

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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Please keep us informed and don't be worried to ask anything. However irrelevant it might seem. Good luck.

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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A word of caution, the advice about creditors is spot on once your bankrupt they have to deal with official reciever or Insolvency practioner. they may send you stuff, certainly in the first month ot two into bankruptcy as there depts dont talk to each other, but for my father-in-law we just sent to OR office and never heard again.

It was the OR that was the pain,they wanted an IPa (income payments agreement) and wanted way too much after it was pointed out to them that they had broke there own guidlines they gave up but were a pain in the backside and he would have just paid struggling along.

bankruptcy is a new start and whilst they are entitled to get something back for creditors, as it said on there site it should also give a solvent clear future to the bankrupt too, so if they come at you with a #IPA that you feel unfair post it back up here for us to look at, please dont just presume they know what they are doing.

All comments are well meant but i am not legally qualified only CAG educated:D

 

 

In the slight chance i have been helpful please click the scales:)

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It has been a liberating experience for my daughter although she is not discharged yet. It has helped her mental health no end, so that she can concentrate on her physical health, its helped me as well as I no longer need to write so many letters and can concentrate on the rest of the things that are needed.

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Guest wino

I was advised to go bankrupt two years ago when my business went into liquidation. As I have a house that I didn't particularly want to loose, I have fought and am just managing to pay everyone each month.

 

I can't afford to go out on the razz and I cannot remember the last time I could afford to go to the hairdresses.

I feel better knowing that I am slowly climbing out of this mess. It has not been easy and I have shed a lot of tears. I live in hope that one day my debts will be a thing of the past.

 

I know a few people who decided to go down the bankrupsy route. They are all now much happier and starting over again. They can answer their telephones and open their front doors whilst I'm still ignoring mine.

 

It makes me wonder if I made the right decision to struggle on :confused:

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The majority of people who go bankrupt really wish that it wasn't their best option, but usually it is. We accept that we have responsibilities: Normally we will try our upmost

to repay our debts if we possibly can . The bankruptcy laws are there for people who have genuinely dug themselves into a hole that they cannot get out of..It is very honourable to soldier on and attempt to pay back your creditors and we all agree that you should always try your best to do so but if you are in serious debt and having considered all of the alternatives there is just no way that you can manage and you are making yourself ill with worry and you can't provide for your family. Then if you consider bankruptcy don't forget it is a right that you have in Law.

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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my decision to go baankrupt wasn't easy. i took a lot of advise from national debtline, CAB and CCCS. they wanted me first to gointo a debt management plan what hey ask to repay was enormous for my low income. IVA wasn;t an option for me as don;t have any asset of any value.

 

 

the las few years have terrible for me fighting with DCA etc.. not having money to buy clothes, food, go to the hairdresser as most of my wages went to pay towards my creditor. but i was only paying interest and charges.

 

then they National debtline suggested me to go bankrupt that was last year.after a good look on the implication of bankruptcy i decided to go for it.

 

i have over 25 k unsecured debt which wil took me at least 15 years to repay on my current income.

 

today i book my appointment ot the court, printed off mybankruptcy from from the insolvency website and in 2 weeks time weel at least i will be able tosay i am debt free ... i feel extremely nervous about what the future hold for me .

 

at the moment i am fighting a CCJ see my thread on residential forums. i have had a very nasty ex Landlord.

 

 

the clerk at the court told it will take aproximately 2 hours to be declared bankrupt on the day itself, 5 minute in front of the judge and about 30 min to one hour with the Official reciever.

 

i will kepp you posted now on the 18th July i will be bankrupt

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phat 256 .

Well done you will soon be back in control of your life. You have drawn your line in the sand. I am sure it is not easy to go bankrupt in your own mind, but once you have made the decision then your can move forward. I am sure it is the mind making up that must be the worse.

While it was agonizing in making the decision, I'm sure you can now see that the worst will soon be over and done with and you can now start to focus on your future again.

As far as your CCJ and debts with your landlord. These should be included in your bankruptcy order. Good Luck.

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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thanks parkvale i have included everything on my bankruptcy form iwill be a lot happier well sort of once the deed is done and over with .. lol

 

the real annoyance is the feeling of embarassment of being insolvent and declaring bankruptcy ... and hopefully the OR won't be too harsh on me.

 

for the my ccj defence i have told the court and my ex LL that i will be bankrutp in 2 weeks time and if my ex LL want to go further well go for it, you will be only wasting your time and money.

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phat 256 I am sure it will be a huge relief & although not the most pleasant thing to admit to. In the future it will prove to be a a benefit to you. You can move forward with a fresh outlook on life & learn to appreciate money more sensibly now. I am sure you will think twice about applying for a credit card and no doubt that if you want something, you'll save for it - like you had to in the "old days" The thing is there is nothing to be ashamed or embarrassed about going bankrupt. When it's all over you will be in a much better position than the vast majority of people who have consumer debt hanging over their heads with years of worry and anguish in front of them.

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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hi phat256 last year i went bankrupt and i was quite poorly at the fact of going to court,but this stopped because the people at the courts were very nice and helpful on the day i went to the court and swore a affidave that took 5mins told will get call that night,which i did got.i was told judge had made me bankrupt 48 hours later call from the offical reciever this last for 45 mins(was asked lots of questions)the OR was also very nice and now all the calls from DCA`S have stopped and i can now loook forward to a brighter future.

Good Luck i will be thinking of you.

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Just a word of caution, if you own a property the creditors will force you to sell that to get their money if you are made bankrupt, so while wiping out any debts you could also lose your home and will find it nigh on impossible to get a mortgage in the future; that's my understanding of it anyway and is what we are going through at the moment.

 

Additionally it doesn't wipe out everything, my partner is still being chased by the water board for around £2000. Our position is a bit strange as the bankrupcy has since been converted to a fastrack IVA, but we would have had to sell the property, and still may have to, to pay off the huge costs involved (over £25 for an original £6k debt), and have been told that if the IVA fails then there is nothing to stop the creditors applying for bankrupcy again, so it doesn't necessarily wipe out the debts.

 

As a result of the costs involved we are in a far worse mess now than we ever were before the bankruptcy. I don't even begin to understand any of it.

Edited by seylectric

I only mouth my opinion, please look elsewhere for sensible advice! :)

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i do not have any asset whatsoever to be honest this is why bankruptcy was suggested to me as it will be very straight forward.

 

 

i do not own any property .. so i am ok with that

 

you right blue4ever the people at the court seem nice they told me i could get exempted form the court fee obviosuly not from the OR fee.

 

and again parkvale thansk for your support . i look forward to have my life back on track not to worry about if they have any CCA or not , no more phone call on week end or late evening etc.. no scared to open your letter or answered the phone, or how my going to pay this and that !

 

they suggested me first a debt management which i had to refuse as my outgoing were bigger than my income. and i can tell you, oh dear boy, i have learn my lesson not in the nicest way but hey at least i will be no more slave to my debt. and look forward for peace and quiet.

 

thbnaks everyone for your support it is encouraging that at least i am not the only one

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Just a word of caution, if you own a property the creditors will force you to sell that to get their money if you are made bankrupt, so while wiping out any debts you could also lose your home and will find it nigh on impossible to get a mortgage in the future; that's my understanding of it anyway and is what we are going through at the moment.

 

Additionally it doesn't wipe out everything, my partner is still being chased by the water board for around £2000. Our position is a bit strange as the bankrupcy has since been converted to a fastrack IVA, but we would have had to sell the property, and still may have to, to pay off the huge costs involved (over £25 for an original £6k debt), and have been told that if the IVA fails then there is nothing to stop the creditors applying for bankrupcy again, so it doesn't necessarily wipe out the debts.

 

As a result of the costs involved we are in a far worse mess now than we ever were before the bankruptcy. I don't even begin to understand any of it.

 

Have you a thread on this?

Why was it converted?

Did you declare yourself bankrupt, and was it just yourself or your partner as well?

Consumer Health Forums - where you can discuss any health or relationship matters.

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Blue4ever, As gizmo says your story would also be of interest. Why not start your own thread ?

"REMEMBER YOU ARE NOT ALONE:-)"

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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yes wi wil do start my own thread in 2 weeks times from the day i will be declared bankrupt.

 

hi gizmo my partner and myself will be both bankrutp but not at the same time as we do get paid at different date so to make sure we have enough money to buy food after paying the rent and bills.

 

i will in 2 weeks time then my partner two weeks later. our combined debt over 42 k only unsecured one... actually this thread could be converted into one.

 

i fount out that it is very difficult to obtain specific information about bankruptcy as each every single person going through that is different.

 

i just been told that apparently the coop is good with undischarged bankrutp but told to wait before openning one.

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In bankruptcy, your accounts are frozen and any monies in there will be frozen too. It's advisable to open up a new basic bank account prior to bankruptcy to avoid this, but be honest with the new bank and tell them you are filing for bankruptcy, and let the Official Receiver know that it's a basic account and they won't have any interest in it.

There are currently two banks who allow basic bank accounts for undischarged bankrupts. The Co- Operative and Barclays. You can open a basic bank account with them as long as you have no record of debt or fraud with them.

Edited by Parkvale

A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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Have you a thread on this?

Why was it converted?

Did you declare yourself bankrupt, and was it just yourself or your partner as well?

 

There is a thread somewhere, I'll try and find it. It was my partner, not me that was made bankrupt for council tax arrears (because she is the sole owner of the property). We hired a solicitor to try and get it annuled because we didn't receive the statutory papers - these seem to have been posted by the process server through somebody else's letterbox as the house he described on his witness statement described a completely different property - but basically the solicitor was hopeless and did little or nothing.

 

Towards the end of the bankruptcy at the end of last year we were told that the creditors (there are two) would apply for the property if we didn't pay up, and it would be cheaper to convert it to an IVA and this would annul the bankruptcy (see my IVA thread for more details).

 

Sadly we have been misinformed and badly advised throughout. What is sickening is we were not in any financial trouble UNTIL the bankrupcy occured - although we had been through a few rough years which led to the arrears, I offered to pay the council the £4000 outstanding five months before the bankruptcy happened but was told that they couldn't accept it as the matter was in the hands of their solicitors who would be contacting us. They never did do, and the next thing we heard was a letter from the O.R. stating that my partner had been made bankrupt.

 

Even now I'm earning very good money but am stuck with a huge bill and have not been given a decent amount of time to pay, so it's looking like we are going to be forced to sell or try and get a back door remortgage and pay huge fees over the next few years for what was originally a £4k debt that I could have easily paid! The whole thing is absurd!

I only mouth my opinion, please look elsewhere for sensible advice! :)

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