Decision after long and hard struggle - Hippy has decided to go bankrupt

[Happyhippy1959]

Hi great folks

 

For the past 16 months after a matrimonial breakdown, I find myself with £39,000 of unsecured debt. I have, with the help of the CAB been paying £1.00 token payments for that time. Many of my debts are with CC and have been passed from one DCA to another.

 

Most of my CC bills were racked up in the late 90's and early 2000's, I have considered bankruptcy, but at present I am sitting in my former matrimonial home struggling to pay the mortgage and secured loan. My lovely ex moved out to rented accommodation and has left me to pay both. In fairness she has forgone her child support, but by the CSA calculator that would only be £260.00 a month, where the mortgage and secure loan comes to £925.00.

 

I do not wish to avoid my obligations, but recently some of the DCA's are using the strong arm tactics of court threats, charges on the property, attachment of earnings all the usual stuff. Only once had a door step agent from Scot-Call turn up, but thanks to the knowledge obtained here, I read him the riot act and then sent off a letter to his company refusing doorstep calls.

 

My house is either just in negative equity or a grand above what I owe. This month due to unforeseen circumstances I could not meet the secured loan payment, though I am selling my motor-bike so should be able to bring that back up square.

 

What I want to know is, as some of these cards and debts are very old, had great credit rating and was running my own small business which when I think of it, a lot of expenditure from the cards went on the business, is it worth requesting a copy of my original agreement. I only want this as a way to stop any wide-boys taking me to court. AS if it is found not to meet the regulations, I could try and use this to stop them taking me to court.

 

To all you new people out there the first two months are the worst. Non stop phone calls both at work and home and on mobile.

Well work was an easy one to stop, I work on a busy acute medical ward and told them in no uncertain terms never to phone on this line as it is for emergencies only. Also my health trust legal department said to record who phoned and they would deal with them and take legal action against them for harassment of there employee's.

 

As for home and mobile, Just change your number. It puts a stop to those bad-boys. Also and I know its hard at first, you are in command of the situation not the DCA or OC. Remember, you owe them money and you can only pay what you can afford. Go to CAB, there brilliant, once there involved life becomes so much easier. Refer all letters to them. My case worker is a Saint and as a former financial Investigator myself in a previous life, I hope one day to offer to work for them and give something back for all the help they have given me. As my case worker said, I know more on consumer law than she does, its just that with there letter heading it shows you have sought advice.

 

I really want to start requesting some of these agreements but inside I feel morally wrong in doing so. I took the debt, I am responsible. One area I am unsure on, is what are we looking for in the agreement, what constitutes a wrong CCA. I would only use this to stop those bully-boys from taking draconian measures such as charging orders, though my property is jointly mortgaged with the ex. As for the threat of a SD, had one of them at the start, gave me great satisfaction when I rang the solicitors and told them, be my guest, save me £600.00 and as I did not have two pennies to rub together and a house in negative equity they would be better off taking the token payment till my circumstances improved. As I am 52, bankruptcy holds no fears for me. I have a job where it does not matter one jot and I will never enter the financial sector again, I would rather work cleaning toilets, ( I have and no disrespect to cleaners it was my business for 12 years).

 

I sleep so well at night now because I know that many thousands of people are becoming empowered because of sites like these and that most of us did not intentionally go into debt. Did we see the chairmen of the mighty banking institutions being chased and hounded day and night when they racked up trillions of pounds of losses, No, they went cap in hand to our spineless government and we gave them our money to continue to live the life they should not be living now. THEY FAILED AND FAILED MISERABLY: They should in my view be made to pay it back out of there own money and let some of our well know DCA's chase them day and night. Oh what fun that would be, I would become a DCA myself just to track them bad boys.

 

The only fear I have is that there are still millions of poor people out there being threaten and not knowing there rights. So everyone I know who is in financial difficulty, I say go on these sites and read and learn your rights.

 

KEEP THE GREAT WORK UP.

[dx100uk]

obj there is no real point in a cca request, even if the cca' were un-en the debt still exists.

 

i'd seroiusly look at unlawful charges & mis-sold ppi

 

let have a basic list of your debt and whom you 'might' be paying and go from there.

 

dx

[Tingy]

Agree with dx, but make sure you know who owns the debts.

[Happyhippy1959]

Ok guy's just a very brief thought. I know I owe and am willing to pay but will check the ownership issue, I have just accepted any DCA that writes.

[dx100uk]

urmm...

 

thats what i was thinking......ruddy fleecers.

 

dx

[Happyhippy1959]

Ok

 

After two years of heart ache, worry and sleepless nights the Hippy has decided to go bankrupt. Not a light decision. I have approx £40,000 of unsecured debt. ouch don't know what it went on had most of my cards since the late 90's and early 00's.

 

Need advice. CAB lady is going to make an appointment for me, she has been trying for two years to get me to go BR she thinks this is the sensible option. House is 20k in neg equity wife ran off the usual story.

 

Have me £600.00 thanks to default on mortgage, they were very nice are going to allow me to pay it back at £25.00 extra per month that will hurt.

 

I want to get the ball rolling so what is my first move.. Do I pick up the papers from my local county court and then wait for appointment with CAB.????

 

Any advice would be gratefully accepted. Not looking forward to this but It is now my only recourse.

[Happyhippy1959]

Want to get the papers and start filling them out as I'm off for a week. IS IT THE COUNTY COURT I GO TO?????

[Dodgy Geezer]

Hi.

 

I wish you well on your decision.

 

There is some good reading >>>>>HERE

 

The specific forms you require can be dowloaded >>>>>HERE

 

Having said that, if your debt is unsecured, would you not be better off by simply not paying, and letting them take you to court, where you can offer a token amount of £1 PCM.

[Happyhippy1959]

Dodgy that is what I have been doing for the last two years, the hassle of it is not worth it. They hound you every three months and at the moment no charging order has been put on the house but I can envisage some skulduggery from some. I want a clean start. The house is now in negative equity and I think this is the best option, I am 52 years old, don't want credit ever again and certainly could not afford to buy another house.

 

I thought you could not use the online forms anymore?????????????????????

[barbara1950]

Youre reply to the last paragraph. I have unsecured loans and sim[;y did not pay after marriage breakdown and lack of funds hoping they would take me to court, so I could pay something off as agreed by the court, but they have just sent me a Statutory Demand, and Ive not been to court. in fact the court has not been involved with either the original debt or the DCA who bought the debt. Any advice?