anyone done bankruptcy? or been took by capquest

[wingers1982]

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..

[palomino]

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 ...

[wingers1982]

ok thanks wasnt sure where to put it..

[wingers1982]

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..

[comebackjimmy]

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.

[MARTIN3030]

Ok thread moved here.

If you continue to be hassled by Capquest-you will find more than enough info in our DCA forums-they are no strangers to CAG as you will have noticed.

Feel free to ask further should you need, and keep your thread updated.

[wingers1982]

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

[saintly_1]

2 threads merged

[Dodgy Geezer]

How much do you owe crapquest ?

[wingers1982]

8k it was a credit card i had yrs ago

[angel007]

HI wingers,

 

How much do u owe altogether? Only go bankrupt if you owe over 15k. If you owe under - go for a debt relief order.

 

If you decide to go through with the Bankruptcy yourself, after going to court which takes approx 3 mins in front of a judge - confirm your name, address, employment details, ask you if you have had advice and to very briefly outline why you got into trouble - then its over to the Official Reciever who will do an in-depth interview prob over the phone - lasts about an hour. They are the ones who deal with your assets ie your house & car. They cant take any household objects. They can take your car (but not if your working) if its in your name, but from reading your thread its in your partners name, so dont panic. Even if it was in your name a trustee can still buy it back from them for you. If you have a job, after you have worked out how much money you need for bills and essentials they will only want to take a percentage of whats left.

 

Hope this helps

Edited March 10, 2010 by angel007

[wingers1982]

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

[angel007]

Well I would suggest going for bankruptcy then. I did it last month and it is the best thing I have ever done. It is such a relief. You wipe out any debt including gas/elec up until your bankruptcy. The only exclusions are student loans and fines from court. I've just been accepted for a bank account with the co-op, I get a visa debit card, facilities for direct debits. I've kept my mobile contract etc. I feel 10 ft tall now. Uncrippled by massive interest rates and charges. fkrs. I swear over the yrs they have all had most of their money back but I still owed them - u know what I mean!!

 

Go for it - ONLY if you feel that its the right thing for YOU to do. Phone up your local county court and book an appointment - they will send you out the forms to fill in. When your date in court arrives, first off you will see someone who checks your paperwork, take your money, it costs £510 if you are working or £360 if you are claiming benefits etc. Then you go see a judge - I was in for 3 mins - then you are declared bankrupt. You can take someone with you. Then as I said b4 you will get a call from the OR - should be within 2 days but mine took 2 wks - they are so busy right now - hundreds of people a day are going bankrupt! The interview took about an hour, she was really nice. The whole process has been liberating. A complete eye opener.

 

Get some advice from your local CAB or community legal advice on 0845 456 6960. Talk it over with them. The judge will want you to have had proper legal advice.

Edited March 10, 2010 by angel007

[Ginas1401]

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

[wingers1982]

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