| T O P I C R E V I E W |
| kfd |
Posted - 22 September 2010 : 21:39:12
Hello there, i would appreciate any advice on what i am now about to ask. I have been on a dmp for years and after paying all i can the amount became unrealistic when i needed to start thinking about finding a home to rent( i was living with parents before)so i was advised by a local council debt advisor to stop paying my creditors to give me a chance to save up for a deposit for a rental property and enough to go bankrupt. I have now got the point i need to be at but 2 creditors and issuing me with ccjs and have told me that even if i go bankrupt they will not be erased and i will still have to pay them. They have asked me to make a token payment to stop them proceeding with this but i am unsure as to what to do as i know if i start paying one creditor, they'll all want paying. My debt advisor is on a long holiday now so i have no way of getting advice and am very worried! I would also like to know that if i go bakrupt before i start to rent a property how will i stand? I gather that no one will want to rent to me in that situation and i dont know what to do, thank you in advance for any help that you can give. |
| 13 L A T E S T R E P L I E S (Newest First) |
| kfd |
Posted - 28 September 2010 : 22:09:59
Thank you for your advice, the good news is we have been accepted to rent a property and we can even have our cat come too :) I was honest and told the estate agents of my situation and i passed the checks, i will be going bankrupt before i sign the tenancy agreement so there should be no issues at all. I'm really please my br wont affect my nan in anyway as i was so worried. and once again thank you so much for ur advice |
| Skippy |
Posted - 24 September 2010 : 15:48:42
As I said some of my debts were at my partner's address and he had no problems getting a new mortgage when we moved, and I was still BR at the time.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| Viki.W |
Posted - 24 September 2010 : 13:08:19
When my IVA went through, my Dad, who I live with and owns the property, didn't have a problem when he took out a new credit card.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| Richard P |
Posted - 24 September 2010 : 11:16:44
I can only write from experience this was 3 - 4 years ago
at this time i had a couple of rental properties, one of my tenants got into financial probs, i dont know the full extent of her situation but with discussion we got through it and she remained a tenant.
however when i went to obtain my next mortgage i was declined, the financial advisor who was helping me stated the only blemish he could find on my credit file at that time was the same property.
i filed a letter of disassociation with experian and equifax and the sitation did not arise again.
i think the overall thing was that i should have kept a closer look at my experian and equifax files, i could have then identified the problem earlier.
regards Richard |
| Niobe |
Posted - 23 September 2010 : 17:33:22
I disagree Richard - the credit check is on your name, not the address. My daughter lives with me and is able to get credit with no problem, even though hubby and I are both in an IVA.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
| Skippy |
Posted - 23 September 2010 : 17:23:51
When I went BR some of my debts were at my mum's address and some were at my partner's. Neither of them were affected by my BR and they have both been able to take out credit since.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| Richard P |
Posted - 23 September 2010 : 13:45:33
Hi Jan
Some of the credit companies do search on the address although unlikely.
ok may be different for nan under this circmstances but with landlords of properties it is worth checking, so that it does not effect someone and failing a credit check on property association.
It is better to have this looked at before having credit application for non bankrupt and someone not involved in IVA or BR process turned down
Richard |
| Niobe |
Posted - 23 September 2010 : 13:11:12
If the debts are totally in your name then your nan won't be affected at all. It's done on the name, not the address.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
| Richard P |
Posted - 23 September 2010 : 11:50:37
if you have taken out any debts registered at that her address then some of the credit files will show an association.
check Experian and equifax
That is easy to clear by your nan sending a letter of dissasociation to the above companies but in all seriousness at 82 I doubt that it will have effect on her applying for credit !
with the credit companies, you have to pass a security question for them to abuse you, why correctly answer the credit security question
Richard
|
| kfd |
Posted - 23 September 2010 : 11:34:29
Also another quick question please can u tell me if my nans property will get black listed as im living with her? Thank you |
| kfd |
Posted - 23 September 2010 : 11:26:35
Thank you so much for your advice, I feel so much better now. Next time they call and bully me i will hang up. They keep constantly phoning(i live with my nan and at 82 she gets very upset as they are very patronising to her) I have got to submit my application for the rental im after tomorrow and have put that i am going bankrupt although it should all be done by the time i have the date to move in(if im accepted) if so i will give the tennancy agreement to the OR, I will be moving out with my huband(long story lol) but he has not been bankrupt but has a bad credit rating but the rent will be paid via him, i dont know if this will make a difference but we can but try. Thank you once again |
| Richard P |
Posted - 23 September 2010 : 09:55:49
HI KFD
ref creditors and obtaining a CCJ, the person on the other end of the phone will do everything and insinuate anything to get you to pay. If you know that you have to go BR do not pay.
They will claim that a court hearing is imminent when in reality it is still a long way down the road, the only confirmation of court date will be a listing from the court. to give you a time frame from first missing a payment to going to court to get my first CCJ was about 14 months. (councils are quicker)
does your debt advisor have colleagues who can cover your questions and give you the support you require ? obviously the forum is here.
in relation to renting a property just be open and honest with your landlord or agent, some will want you as a tennant others will not.
good luck Richard |
| Bigal4787 |
Posted - 23 September 2010 : 00:10:37
KFD,
regarding CCJ's, they will be claimed in the bankruptcy, so they will be clear and your creditors cannot lawfully pursue the debt once bankrupt. Essentially, these creditors are trying it on, don't give in to their bullying and intimidation.
Having interviewed many people who had been made bankrupt, some arranged the tenancy prior to going bankrupt, and as long as you provide a copy of the tenancy agreement to the OR, they will not contact the landlord. The other option is if you know someone who is a landlord and is willing to rent to you.
Hope this helps
Big Al |
