Capquest threatening me with Bankruptcy -Help please.

[miltonworries]

Hi all,

needing a little advice if you can.

DCA doing statutory demand for bankruptcy, I think i will let them do it as i cant afford todo it myself.......

I have many many debts, struggling day 2 day with food, and keeping the electric and gas meters topped up.

i work and all my wages go towards all my debts which leaves me hardly anything to live on and keep my family..

I know some debts dont go away which i understand.

But its the only way to go.

how long does it take them to do it......as letter says reply b4 21 days , so if i dont reply they should do the bankruptcy order yes ? no?

If anyone could give a little help on this topic i would be gratefull.

i have read a few threads all about this and i still think its the best way to go

thanks for reading this.

[LilyLou]

bumpin

[gizmo111]

There is no need to bump a post 15 mins after it was posted.

 

It is unlikely your creditor will make you bankrupt as it seems you have no assets and it would cost them a considerable sum to make you BR. I would look on it as a scare tactic.

[miltonworries]

thanks for the reply gizmo... i thought this was the best option for me...

so you reckon i wont get the easy option then..

I knew it was a scare thing as i read up on it from this site.....

 

i would bankrupt myself just can not get 345 and cost together struggly with even having a tenner left for a week.

 

and for that bumpin thing i had to look up on google to see what it meant.....

 

why do people do that.....

[Chris1933]

BUMP = Bring Up My Post

 

A little premture in your case, it's used on here if you get no reply.

[gizmo111]

i would bankrupt myself just can not get 345 and cost together struggly with even having a tenner left for a week.

 

How much are you paying towards your debts at present? Stop paying and save up the fee for BR.

[miltonworries]

well just over £200 debt not including rent and normal gas and elec etc

 

but rent is another 340

and council tax 200

[LilyLou]

Gizmo and Chris, apologies for bumping, was a little worried for the poster, will not do it again

[Chris1933]

Gizmo and Chris, apologies for bumping, was a little worried for the poster, will not do it again

 

No apologies needed:), just helping OP (Original Poster - i think:confused:)

Trying to work out the abrieviations when your new on here is a nightmare. I saw a glossary link somewhere on here. I think its in the "read this before you post" area. I'll try and find it.

 

Anyway, any update miltonworries?

[rory32]

i would bankrupt myself just can not get 345 and cost together struggly with even having a tenner left for a week.

There are charitable trusts available who may be willing to pay your bankruptcy fees. Your local CAB should have a list of the ones in your area.

 

Alternatively you could write to your creditors inviting you to make you bankrupt. If you need help with a letter doing this then just shout.

[miltonworries]

thanks for the replys

 

i have seen a letter template to dca's to write of the debt as im in finacial worries.

 

But a proper template would help loads rory32 if you have the time?

 

someone on here suggested stop paying debts and save up but the dca's will hound me then wont they...........even though i know there not meant to.

 

thanks for your time

[miltonworries]

hi rory32,

are you able to help with a template for them to ask to bankrupt me????

 

thanks

[Happyfeet24]

I'm interested in the way DCAs think when they go for legal action.

 

They send the threat letters to scare for BR,

 

and I understand that with the personal situation taken into account it wouldn't be a worth while move for the dca, but how is the DCA to know the individuals personal circumstances, how would they know until they attempted the BR that it isn't worth it, and then if the individual didn't defend then it would go ahead anyway wouldn't it?

 

I'm not highjacking as such but I honestly don't know the answer but would like to and it might help the OP too

[palomino]

They don't actually know, although it is reasonable to assume they have done a Land Registry search as well as a trawl through the credit reference agencies. This gives them some idea of what you have (or haven't I suppose).

They probably have several other sources of data which might add to the picture they of you.

 

However, they are likely to have no idea of your real situation so the threat of bankruptcy is no more than that : a threat. Which they have no serious intent of ever following through.

[Happyfeet24]

Thank you Palomino, I know that answers my question and I'm sure others will find that reply helpful too:)

 

 

To put miltonworries thread back on track....

hi rory32,

are you able to help with a template for them to ask to bankrupt me????

 

thanks

[miltonworries]

well i worked out 21 days is up on the 13th feb.....................cor its dragging,

 

Might do some letters to other DCAs to ask them to make me bankrupt because many are over £750

 

i will keep you updated

[miltonworries]

I worked ot that the 21 days for dca is due on 13th feb.................

its dragging terribly.

 

got more debts calling me asking to pay more money.

so i have decided to ask all my debt to make me bankrupt... if they wont i will save and do it myself..

[miltonworries]

hi sorry another question:

 

i have written to citizen advice about bankruptcy so i can do it properly.

in the mean time i have been told on here to stop paying debts to save for the fee...

 

does this include rent?

 

As if didnt pay rent of 340 and council tax of £178 i can afford the money at the end of the month!!!

 

And do i need to tell rent people first incase they evict me????as i already have rent arreaers from previous year, this year is fine

 

sorrry got many questions going through my head.

 

hope someone can help?/

[Happyfeet24]

Hi Milton, please ensure you get further confirmation of this but I would not stop paying your rent or council tax.

 

The DCA will be after non priority debts and so not paying is an option. Your rent and council though are different.

 

My Landlord is an association and they have a policy that the holder of the agreement must not be bankrupt, so yes, check with them asap

[miltonworries]

thanks happyfeet................

 

I am with local council housing.

 

And i would only stop paying for one month then the fee is paid and i can continue to pay the next month

thats what i meant

Edited February 6, 2009 by miltonworries
wrong phrase

[Happyfeet24]

bare with me Milton, I'm just double checking your options

[MARTIN3030]

Hello Milton.

Can you confirm who has issue the interim order ?

Which DCA ?

You say you are with local authority housing-so are a council ten ?

Let me consult with other team members to see if theres anything that can be suggested..

I am in agreement with many of the replies here-Bankruptcy may have some advantages for you in the short term,but your judgement in deciding on this should not be clouded by the threats of DCAs -and a lack of knowledge in looking at the alternatives.

Hold fire on sending any letters to ask DCAs to force the issue.

[MARTIN3030]

I am going to move your thread too.

Please answer who the DCA is since there will be others here who have faced the same situation.

I think it would also help if you could just do a brief rundown of the other issues/debts.

No one will frown or pass judgement-everyone on CAG is here for different reasons,but in order to help you we will need to know more info.Dont be afraid to post it.

 

 

oops forgot to ask too.

 

What is the debt/alleged debt that is connected to the SD ?

Who is the original creditor how old is the debt?Alleged debt how much was it for etc ...tell us a little about this please.

Edited February 6, 2009 by MARTIN3030

[slick132]

Hi MW's,

 

I think, before you make such an important decision, you should seek advice from the National Debtline, CCCS or similar. Make a list of your present income and expenditure and a list of what you owe to who.

 

National Debtline – Free, Confidential Debt Advice – Call 0808 808 4000

 

CCCS - Free Debt Advice from the UK's Leading Debt Charity

 

The Stat'y Demand is regularly used as a threat to make people pay. I think every case I've seen here where an SD has been challenged has been successful.

 

Here's a good example - http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/135078-me-1st-credit-stat.html

[miltonworries]

capquest is the debt company who has done stat demand it was originally halifax i think