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mst
Junior Member
254 Posts |
 Posted - 16 June 2008 : 23:03:39
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Hello again everyone,
Not too long ago there was a topic posted on this forum entitled "Dazed and Confused" and without wanting to replicate that thread I wanted to say how confusing the horizon still looks.
Having investigated with Gregory Pennington, the CAB, this forum and it's experts I am still cynical when it comes to the issue of "free and impartial advice". I was certain this morning that I would be persuing a route into BR as soon as possible, I wanted to heed the advice of numerous postings on this forum and complete the process by being totally honest and that this honesty would result in a fair and reasonable settlement both in court and with the OR.
I am now once again confused to receive advice regarding the use of yet another service that would charge fees relating to setting up a BR plan? Maybe I am mistaken but many on this forum appear to be perfectly able to set up their own BR petitions, appear at court and inteviews with OR's on their own, fill in the required forms individually and cease to pay their creditors to save up their BR fees of £495. It seems that being in full time employment and earning a fairly decent wage and offering to pay your creditors a realistic amaount whilst still reserving some money for the BR fees (regardless of debt) always seems to end up in advice regarding a company that will "Do all the hard work for you" but for a fee.
Maybe I am being too cynical but is it a good idea to just simply jack my job in, plead poverty, claim benefit and let the creditors fight over who gets the lion's share of my £1700 2nd hand car?
A very cynical, tired, confused and dazed mst. |
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melanie_giles
Senior Member
1191 Posts |
Posted - 16 June 2008 : 23:06:00
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Applying for bankruptcy proceeings is very simple and most people do it without the need for any external advice. The forms are easily downloaded from the Insolvency Service's website and are not onerous to complete.
If you do decide to engage professionals to act on your behalf in this regard, you have to expect to pay them for their efforts.
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 |
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mst
Junior Member
254 Posts |
Posted - 16 June 2008 : 23:12:21
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I agree in so much as nothing is free, but at what point should you consider appointing people to act on your behalf. I personally believe that presenting yourself in court for BR alongside a firm that are charging fees does not look good when you are ultimately saying you cannot afford to pay your creditors?
I am possible over simplifying the issue but every time I seem to get it straight in my head what the future course should be someone else provides some contradictory advice that leaves me unsure and confused. I think the best thing for me to do is be totally honest in court and with the OR and deal with this myself and stop seeking confirmation.
I cannot be in any worse shape than I am right now. |
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melanie_giles
Senior Member
1191 Posts |
Posted - 16 June 2008 : 23:25:46
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The majority of people I discuss bankruptcy with actually manage perfectly well to fill the forms in and submit their application to Court directly without paid assistance. You will find the Court staff very helpful, and any queries you have can be raised on this forum where there are several "experts" who can provide guidance to you - really free of charge.
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 |
Edited by - melanie_giles on 16 June 2008 23:26:06 |
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abd
Junior Member
284 Posts |
Posted - 16 June 2008 : 23:33:31
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Hi mst
I totally agree with Melanie Giles, and myself is an example.I have been seeking confirmations and living in total confusion for months before my BR.
Just get the form start filing them and do it, then you will find out that how simple is that. Mst I know where your doubts come from,as I can remember there is a resemblance in our cases. I had the same fears, believe itis just in our heads, No harm is going to happen,but all good things and a debt free future.If you have decided to be honest,why do you need someone else to tell the court what you honestly put in paper? |
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mst
Junior Member
254 Posts |
Posted - 17 June 2008 : 08:30:13
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Many thanks Melanie and adb for your comments. I think yesterday evening I allowed myself to get slightly worked up regarding it all. It didn't help that I was dining new work colleagues and wasn't really able to discuss my circumstances/reservations with anyone.
I think I will await contact from the firm and explain my situation and how I am rather sceptical over using any debt firms which involve paying a fee. Whilst I understand that you would not expect the get this service for free it appears as though there are many others who cope perfectly well without having to acquire further debt.
I think there is so much bad press around about certain cowboy outfits that make a buck or two off people who are in serious financial difficulty that it clouds your reasoning when somebody genuine comes along with some advice that involves a "fee".
Once again this website has allayed my fears on this. |
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sueann
Junior Member
United Kingdom
300 Posts |
Posted - 17 June 2008 : 09:03:50
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mst - study the form, that's what I did and figured I could do it myself like most people here. I got stung badly on paying upfront fees over the past two months, when I was originally thinking IVA I approached what I thought was professional advice when I DECIDED BR was the best option for me in the end I did not get over £500 worth of fee's back, the money would have been best spent on my BR fees which I now have to wait until 5th Aug until I can afford to go BR.
The form is not as bad as you think, believe me if I can do it anyone can although it looks alot I found quite a lot of it was just N/A didn't apply to me.
I have found this forum the best source for information amazing what you pick up on other peoples experience's it has been invaluble and enabled me to persue BR on my own.
If I have needed any advice or help I have posted here and had the best advice in responses and it has been TOTALLY FREE. |
Edited by - sueann on 17 June 2008 09:06:41 |
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mst
Junior Member
254 Posts |
Posted - 17 June 2008 : 10:02:25
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Many thanks for the advice.
I have set aside this weekend to start filling in the forms. Just a quick question, do you only contact the court to get a date for a BR hearing once the forms are filled in? I have just sent letters to creditors indicating that I cannot any longer pay them at their current rates. I have therefore decreased my monthly payments down from £1000 to £600. This should enable me to save the required BR fees without borrowing more money from creditors.
I have not actually used any credit cards since my 30th Birthday on 01/12/07 and really do not want to resort to using them for BR fees as I think this says something for my conduct prior to BR. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 17 June 2008 : 10:05:49
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Hi Mst,
I can appreciate that it all looks a bit daunting at the moment. As Melanie says, most people can do a BR themselves without having to pay anyone a fee. However, if there are assets that need protecting (ie spouse's interest in a property), the services of fee-charging companies can be invaluable. In addition, some poeple just can't face it themselves and gladly pay a fee for someone to hold their hand through the process. The key is that if a company offers a free consultation, you have nothing to lose by talking to them.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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sueann
Junior Member
United Kingdom
300 Posts |
Posted - 17 June 2008 : 10:09:16
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| My local court Milton Keynes requires an appointment for BR you can't just turn up, they advised me they only hear 2 a day. I am saving up my fee's hence my appointment is not until 5th August, I sent letters out to all my creditors last week advising them of the date and the court my BR was being heard in so they stop bugging me. I have had to stop all payments to my creditors due to the silly IVA fees I have had to pay for the last 2 months and now having to save the BR fee. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 17 June 2008 : 10:11:06
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Hi Sueann,
Just ensure that when you turn up at court, you have a letter and/or certificate of failure from your IP regarding your IVA. Without this, some courts have been know to turn people away.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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sueann
Junior Member
United Kingdom
300 Posts |
Posted - 17 June 2008 : 10:14:38
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| Julian, my IVA didn't fail I decided not to proceed as BR was the better option for me. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 17 June 2008 : 10:16:11
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Apologies ... please ignore my previous post then :)
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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sueann
Junior Member
United Kingdom
300 Posts |
Posted - 17 June 2008 : 10:18:22
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quote:
Originally posted by JulianDonnelly
Apologies ... please ignore my previous post then :)
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Ignored ;-) no apologies necessary |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
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mst
Junior Member
254 Posts |
Posted - 17 June 2008 : 11:00:30
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I will discuss my concerns with the BR firm that contacts me. I do have quite a high disposable income but do not wish to enter an IVA as to cope with the demans of a tight budget for 5 years coupled with the risk of it failing and just never going down has lead me to seek the BR route.
I am sure there are others on here who feel that the stress and confusuion associated with debt problems eventually leads you to favour the line of least resistance. Therefore I am just going to go BR, pay the money, deal with whatever IPO I am hit with but know that if I meet that payment for 3 years I will once again have my life back. If I get made redundant within my 3 year IPO so be it, they must surely allow me moeny to live/pay my rent whilst seeking a new job. I have never been out of work since I turned 18. |
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Still confused
