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Anna04
Starting Member
19 Posts |
 Posted - 13 February 2010 : 22:16:49
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I have to go bankrupt, but I don't have the money to pay for it or any way to save. 3 kids and min income.
What is the fastest way to get the creditors to declare me bankrupt? |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 13 February 2010 : 22:25:17
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You need to have a debt for £750 for a creditor BR - not many will do it though. The following will:
Americal Express
HMRC
Local council (tax side)
Others may threaten but generally not do it.
Others try it and make a hash of it 
DO act as soon as you receive a statutory demand as it starts a fast clock ticking - 18 days - within a 21 day timeframe
I suggest you speak to an expert here if that happens DO NOT ignore it as they generally mean business.
Others can seek a charge against your property if there is equity in particular - again, watch them - they need swift action to beat the bas***ds!!
Use this form - we have all the skills we need to assist you! 
Good luck my friend, Richard
quote:
Originally posted by Anna04
I have to go bankrupt, but I don't have the money to pay for it or any way to save. 3 kids and min income.
What is the fastest way to get the creditors to declare me bankrupt?
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
Edited by - Housing on 13 February 2010 22:28:22 |
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Anna04
Starting Member
19 Posts |
Posted - 14 February 2010 : 06:01:27
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Thanks
My abusive ex husband has left me with 60000 worth of debt once the house is repossessed and sold.
There is no equity at all.
Will try and talk to someone on Monday.
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David F
New Member
United Kingdom
58 Posts |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 14 February 2010 : 11:15:36
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You do need to talk to an insolvency expert as soon as possible.
It may be there are ways of saving the house - is it in joint ownership? Are there any second charges? Are there any arrears?
What is the valuation position - how much neg equity?
I can assist with the "housing" matters", now need to speak to an inspolvency expert to knit it all together
Come back as necessary, Richard
quote:
Originally posted by Anna04
Thanks
My abusive ex husband has left me with 60000 worth of debt once the house is repossessed and sold.
There is no equity at all.
Will try and talk to someone on Monday.
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
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Anna04
Starting Member
19 Posts |
Posted - 14 February 2010 : 11:37:07
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He was in the house but he abandonned it with 4 months arrears now. I can't afford the mortgage at all. Just can't earn enough with 3 small boys and child care costs.
Ths house is in negative equity. Mortgage is £164,500 and value is around 160,000 for a quick sale. But it also has 14000 worth of unsecured debt attached to it. It is all in joint names.
I moved into rented 12 months ago with the boys so I could help with housing.
Added to that about 31,000 unsecure debt he has left me. Pleasant leaving present it think!
I can see bankruptcy as my only option.
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 14 February 2010 : 18:48:39
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Hi again,
I am being a bit slow today.
What is the position with your house that has a mortgage and a second charge - is it handed back or is someone still living in it?
I seem to be a bit lost with your situation. Are you now in rented accommodation?
Is your ex partner in the former matrimonial home? Is anyone paying the mortgage and has the lender been to court or served papers to say they are doing so?
If we have a clear picture between us, we can offer advice to you.
Richard
quote:
Originally posted by Anna04
He was in the house but he abandonned it with 4 months arrears now. I can't afford the mortgage at all. Just can't earn enough with 3 small boys and child care costs.
Ths house is in negative equity. Mortgage is £164,500 and value is around 160,000 for a quick sale. But it also has 14000 worth of unsecured debt attached to it. It is all in joint names.
I moved into rented 12 months ago with the boys so I could help with housing.
Added to that about 31,000 unsecure debt he has left me. Pleasant leaving present it think!
I can see bankruptcy as my only option.
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
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Anna04
Starting Member
19 Posts |
Posted - 14 February 2010 : 19:02:00
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Sorry!
My ex and his wife were in the house until new year, but he left it unoccupied on 28 December to move into rented. He has not paid the mortgage since November 2009 so now 4 months in arrears.
Mortgage is in joint between me and him.
I had to move out because I could afford the mortgage after he left. He then moved in immediately with the GF but has now left cos she was pregnant, not working and coudn't afford/ wouldn't pay the mortgage.
He won't talk to the mortgage company who are sending out an agent. He has refused to talk to anyone at all. I have been in weekly contact with them to let them know what is happening.
He declared bankruptcy on 3rd Feb which menas I am left with joint debts and mortgage company said once they repossess and sell I will we left with short fall.
Does that make more sense?
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 14 February 2010 : 19:12:19
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Is the unsecured debt in your name, his name or joint names?
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Anna04
Starting Member
19 Posts |
Posted - 14 February 2010 : 19:16:11
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Some joint and some in mine.
I have been making token payments to everything for the last year since he left.
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 14 February 2010 : 19:36:07
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Hi again,
I think you will be best placed to speak to one of the insolvency experts on this forum. They are amongst the best in the UK.
You will find them on the left side of the screen - I may be able to come up with some ideas about the property - but first try Paul from Reviva or Melanie from Jones Giles.
Then come back as necessary, Richard
quote:
Originally posted by Anna04
Some joint and some in mine.
I have been making token payments to everything for the last year since he left.
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
Edited by - Housing on 14 February 2010 19:36:38 |
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Anna04
Starting Member
19 Posts |
Posted - 15 February 2010 : 12:43:55
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Hi
I have spoken to Paul, briefly (car broken down, sons 2nd birthday and 3 kids running aournd screaming!). Only option in bankruptcy.
So I will have to find the money from somewhere.
Paul mentioned the co-op cashminder account. Do I open it now before I go bankrupt or do I have to wait until afterwards?
Have contacted the court for the paperwork so will start process in the next couple of weeks.
Trying to see it as a new start and an end to a year of hell.
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David F
New Member
United Kingdom
58 Posts |
Posted - 15 February 2010 : 14:01:47
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Hi Anna,
Glad you spoke with Paul as he helped me a lot and really knows his stuff.
As for the Co-op account I opened mine before the BR but told the Co-op what I was planning and they were fine. I would also recommend NOT putting the co-op account on the BR SOA forms but mentioning that you have opened one and give the OR the details for this account at your meeting with him/her.
This will ensure that the account will not be frozen . Get all of your DD/SO set up on your Co-OP account before you file for BR and everything should be fine.
Good luck,
David |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 15 February 2010 : 18:59:23
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Good luck with your plans
Call Paul again - he and his colleagues are very good.
Post back here too - lots of people can assist and make suggestions for you to think about.
Regards, Richard
quote:
Originally posted by Anna04
Hi
I have spoken to Paul, briefly (car broken down, sons 2nd birthday and 3 kids running aournd screaming!). Only option in bankruptcy.
So I will have to find the money from somewhere.
Paul mentioned the co-op cashminder account. Do I open it now before I go bankrupt or do I have to wait until afterwards?
Have contacted the court for the paperwork so will start process in the next couple of weeks.
Trying to see it as a new start and an end to a year of hell.
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
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Topic |
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I have to go bankrupt, but I don't have the money
