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bankruptcy postbag for july

Finance Companies and Banks

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[quote][i]Originally posted by Needafriend[/i]
[br][purple][size=5][b][font=Georgia][size=3][size=2][size=2][font=Georgia]My car is under finance and they have agreed to take it back due to the fact it is under SORN and not insured and devaluing every day.
They are due to collect on the 14th July but i wanted to know should I let them take it prior to bk or wait as i dont want to get into trouble with the OR. 
It was easier to inform the company that we did not have the funds and that is was ready to go when they were ready.
Please advise where we stand, as im really worried that we have done the wrong thing and all i wanted was to get the damn thing out of the way and stop a reposession order on it.
What should we do. I can put them off if need be but I need to know what the state of play is.

Also LLoyds TSB are really hassling us by constant calls, letters and really getting us down, we have written to them on numerous occasions and advised situation:
on the 16th June I wrote to all compaines and advised that we dont have any available income now to pay them unlike before where we had agreed a payment and kept to that because there had been a big change in our income
then on the 1st July to ask that they refrain from any action until 1st sept so that we could get advice on the situation and we would keep them informed, this letter was to help us get the BK up and running and try and keep them off of our backs. 
What should I do, should I write and tell them that I am waiting to go to BK and also tell them on the phone, what will they do if i tell them. I dont want bailiffs on my door trying to get goods etc before the BK is in place.
Please help its driving me round the bend.[/font=Georgia][/size=2][/size=2][/size=3][/font=Georgia][/b][/size=5][/purple]
[/quote]

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T O P I C R E V I E W
Needafriend	Posted - 07 July 2008 : 08:39:27 My car is under finance and they have agreed to take it back due to the fact it is under SORN and not insured and devaluing every day. They are due to collect on the 14th July but i wanted to know should I let them take it prior to bk or wait as i dont want to get into trouble with the OR. It was easier to inform the company that we did not have the funds and that is was ready to go when they were ready. Please advise where we stand, as im really worried that we have done the wrong thing and all i wanted was to get the damn thing out of the way and stop a reposession order on it. What should we do. I can put them off if need be but I need to know what the state of play is. Also LLoyds TSB are really hassling us by constant calls, letters and really getting us down, we have written to them on numerous occasions and advised situation: on the 16th June I wrote to all compaines and advised that we dont have any available income now to pay them unlike before where we had agreed a payment and kept to that because there had been a big change in our income then on the 1st July to ask that they refrain from any action until 1st sept so that we could get advice on the situation and we would keep them informed, this letter was to help us get the BK up and running and try and keep them off of our backs. What should I do, should I write and tell them that I am waiting to go to BK and also tell them on the phone, what will they do if i tell them. I dont want bailiffs on my door trying to get goods etc before the BK is in place. Please help its driving me round the bend.
3 L A T E S T R E P L I E S (Newest First)
JulianDonnelly	Posted - 07 July 2008 : 12:53:42 Great advice Suzanne. Regards Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk
Needafriend	Posted - 07 July 2008 : 09:37:16 quote: Originally posted by Suzanne Hi Don't worry about the car, at least you are being proactive and getting things sorted, and it won't make any difference to the bankruptcy whether the car goes before or after. You have no obligation to contact your creditors, and you don't need to worry about bailiffs, just remember they have no right of entry, and can only enter your premises at your invitation. Suzanne Stocker Bankruptcy Manager Jones Giles Ltd www.jonesgiles.co.uk Hi Suzanne Thanks for that I was worried that because there will be a shortfall in what we will owe back that the OR will say that we should not have done it as it is favouring one company over the others but I just wanted it gone and another thing hopefully out of the way.
Suzanne	Posted - 07 July 2008 : 09:20:36 Hi Don't worry about the car, at least you are being proactive and getting things sorted, and it won't make any difference to the bankruptcy whether the car goes before or after. You have no obligation to contact your creditors, and you don't need to worry about bailiffs, just remember they have no right of entry, and can only enter your premises at your invitation. Suzanne Stocker Bankruptcy Manager Jones Giles Ltd www.jonesgiles.co.uk

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