| T O P I C R E V I E W |
| jane.m |
Posted - 29 June 2008 : 09:02:27
my and my husband currently owe about £78,000 and have an income of about £2470.00 per month. We ar currently on a debt management programme but are considering whether personal bankrupcy would be a better option for us. Please advice.
Many thanks
Jane
|
| 15 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 14 July 2008 : 11:43:35
Thanks for the insider information!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| melanie_giles |
Posted - 13 July 2008 : 23:30:56
SIVAs are expected to be available from April 2009 onwards - but most people in my profession say we will believe it when we see it!
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| jane.m |
Posted - 12 July 2008 : 20:50:20
Hi
Can you please tell me when the sivas are coming out as i have some difficult creditors one being mbna.
many thanks |
| jane.m |
Posted - 12 July 2008 : 20:48:59
quote:
Originally posted by JulianDonnelly
Best of luck!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
|
| JulianDonnelly |
Posted - 07 July 2008 : 13:19:52
Best of luck!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| Trolly-Dolly |
Posted - 06 July 2008 : 12:59:05
No it doesnt matter. It will all be done by telephone and by post.
I really think that an IVA would be your best option and not the DMP. I had a friend who was in a DMP, all was going well, then one day one of her creditors decided it wasnt for them anymore and wrote asking for a F&F!!! She had no protection. With an IVA you will be paying it for 5 years and will be entirely protected. I cannot recommend Melanie high enough. Before your first telephone talk get together all the names of your creditors/ account numbers and balances. Also try and make up a list of all your expenditures (car maintenance/petrol/pocket money/insurances etc etc). have it all to hand and it will go much smoother. You may also want to start gathering the following info: Account balances of any loans not settlement figures, but actual balances), your latest statements for cards etc, last 3 months of bank statements and wage slips, mortgage statement including any early redemption figures if tied into a fixed rate, 2 valuations of your home (get two local estate agents in and ask for valuation in writing, tell them you are thinking of moving), council tax statement, Life assurance policy, photo-copies of your passport, any original loan agreements (if not you can get copies from the creditor).
Thats all that I can think of for now. You wont need that for your telephone call, but will need it for IVA proposal (if thats right for you).
Good luck and keep posting x
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
| jane.m |
Posted - 06 July 2008 : 09:36:18
Hi
Thanks for your advice I have sent an enquiry for Melanie by email and I am just awaiting her advice. Does it matter that I live in the North West or do you have too live near .
Many thanks
Jane
|
| JulianDonnelly |
Posted - 04 July 2008 : 16:11:12
Hi Jane,
I am more than happy to recommend Melanie as she does fantastic work!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| Reviva UK |
Posted - 03 July 2008 : 23:18:32
You may also want to check out the sister site www.iva.co.uk which has a couple of great supporting Insolvency Practitioners on.
Incidentally melanie ( see above ) is regarded as somewhat of a hero by her clients and is extrmely highly recommended.
I understand that she offers a free telephone review of the liklihood of an IVA being accepted and this is all without obligation.
may I recommend you make a call when you have a moment
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| melanie_giles |
Posted - 03 July 2008 : 23:13:09
Hi Jane
I cannot recommend a company, as I am not allowed to promote my services on this site - but if you look on www.iva.com this will give you details of all insolvency firms and you can read their feedback good and bad. It might be better to try a couple of firms simply to see if the advice they give you is consistent.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| jane.m |
Posted - 03 July 2008 : 20:55:48
Hi
Can you please recommend a reputable iva company as I am unsure which one to use. Also if my creditors are accepting what they are getting at the moment would you advice carrying on with the dmp or trying to get on an iva.
Many thanks
Jane |
| melanie_giles |
Posted - 30 June 2008 : 21:19:56
Yes - under a DMP you have no legal protection, unlike a DMP - however it would be strange if a creditor were to petition if you had arranged a repayment scheme with them.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| jane.m |
Posted - 30 June 2008 : 18:20:45
Hi Julian
I have managed to have the majority of my interest frozen and am currently looking at paying it off in about 10 years time. Can creditors still make you bankrupt if you are on a dmp.
Regards
Jane |
| JulianDonnelly |
Posted - 30 June 2008 : 18:10:47
Hi Jane,
Given your level of debt, staying on a DMP would be unadvisable as you'll effectively be paying it off for the rest of your life.
Childrens toys will not be touched. The only assets the OR is really interested are cars worth more than £2500 and property with equity.
A BRO is a Bankruptcy Restriction Order (obtained by the OR though the court) and a BRU is a Bankruptcy Restriction Undertaking (which you voluntarily sign with the OR - if you refuse to do so, the OR will go to court for a BRO). Both hold you under the restrictions of BR even after your discharge at 12 months (can be anything up tp 15 years). However, you have to have been quite "naughty" to get these!
The OR will only interview the bankrupt. They will write to the employer to put them on a NT (no tax) tax code.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| jane.m |
Posted - 30 June 2008 : 17:34:08
Thank you for your advice on that I will look into an Iva if this is not accepted by the creditors would you recommend staying on the dmp. As i have very little equity in my property do you think there is much chance of the creditors trying to make me br. Also if I am made bankrupt do they takes children games consoles etc. Could you please also clear up for me the difference between a BRU and a BRO. Also I Have heard that they can interview your family or your employer in a bankkrupcy proceeding id this true and for what reason would something like this happen.
Many thanks
Jane |
