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adogillo
Starting Member
United Kingdom
25 Posts |
 Posted - 04 October 2010 : 12:27:23
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Just had my 1st call from a secured creditor about why I had cancelled my direct debit for them at my bank and that I was now in arrears for the payment.
I said we were going BR, this is where I panicked, she started asking questions about if i'd taken advice from anyone, who they where, what I was doing with my/our money, I just froze and said I'd been speaking to people in general about BR.
I didn't know what to say especially when she said if we were going BR and were giving the house up then they would start legal proceeding,if we weren't giving up on the house and we wanted to keep it we needed to speak to National Debt Helpline.
Where in truth we've got a BR court date already for the end of Oct and intend to give up the house as we can't afford the mortgage and secured payments.
She said she would ring back on Wednesday after we have spoken to NDH.
Not sure what to say on Wednesday when they ring back, how long will it take, for arrears to apear on credit ratings as we still haven't found anywhere to rent yet?
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 04 October 2010 : 12:47:42
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There is absolutely nothing wrong in informing them (and any other creditor) of your actual hearing date for filing for bankruptcy. Whatever you do though do not sign anything from either the mortgagee or the secured lender with regard to the property and the future of the property /debt. It is best to leave everything to the OR once you have filed, and use this time to secure suitable alternative accommodation. Make sure you cease the payments on all your debts (don't pay one and not the other) and use the money you would have been paying to the mortgage and secured loan to fund your bond and rent on new accommodation
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
telephone 01792 899996
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adogillo
Starting Member
United Kingdom
25 Posts |
Posted - 04 October 2010 : 14:00:12
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Thanks Melanie, have already cancelled all direct debits for secured and unsecured debts, just paying utilities at the moment.
It was just a bit scarey receiving our first call from creditors. |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 05 October 2010 : 08:13:30
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I can totally appreciate that the whole process is very scary for you and everyone else going through the same process, no one makes the decision to go bankrupt lightly, what i can promise you though is once done, you will feel an imenses feeling of relief, once the burdon of debt is removed from your shoulders, many people tell me that following their day in court having the order made they have the best nights sleep in ages!
Hope you can obtain suitable alternative accommodation soon, at least when that is done you have one less worry!
All the best, Melanie
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
telephone 01792 899996
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I Just Panicked
