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Dustyfox
Starting Member
3 Posts |
 Posted - 20 November 2011 : 19:25:05
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Hello
My wife and I will shortly be going bankrupt with joint debts of >£400K. We've been told that the local Court (Cardiff) will be unable to handle the case owing to the amount of debt and that we'll have to travel to the High Court in London. Does this sound right to you? |
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debtinfo
forum expert
2826 Posts |
Posted - 20 November 2011 : 19:28:50
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| who told you that? |
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Dustyfox
Starting Member
3 Posts |
Posted - 20 November 2011 : 20:14:58
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| Thanks for responding. We were advised of this by Debt Release Direct - a firm that we have been put in touch with following four years in a DMP with a different firm. Please forive my ignorance, but is it ok to "name names" on this forum? |
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debtinfo
forum expert
2826 Posts |
Posted - 20 November 2011 : 20:28:23
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yes it is ok to name companies,
that doesent sound right to me, but it is a question i have not been asked before, i would give your local court a ring tomorrow as they can give you a definite answer |
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Dustyfox
Starting Member
3 Posts |
Posted - 20 November 2011 : 20:34:15
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| Ok. I can do that. The more I consider this, the better off I think I'll be conducting the BR process myself. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 November 2011 : 20:58:09
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I think this is a total load of rubbish - this company want to rip you off to 'assist' you to go banrkupt. I can see no reason why your local court cannot deal with you.
Please phone up your court and possibly make an appointment (if they don't do walk in, as some do) The forum can assist with the forms if you need any assistance.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
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debtinfo
forum expert
2826 Posts |
Posted - 20 November 2011 : 21:00:47
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You may be right, in fact most people do, it much depends on how complicated your case is and how confident you are yourself.
If I mat ask given the level of debt, did it involve a business |
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Dusty
Starting Member
United Kingdom
1 Posts |
Posted - 20 November 2011 : 21:21:20
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| Thanks again for the responses - in answer to the question, it has involved a buy-to-let business. The lenders themselves are insolvent institutions, Lloyds TSB and Bradford and Bingley, both of whom benefitted from a taxpayer funded bailout. Sadly they have not passed on the reduction in interest rates to us. I suppose that when we do agree a payment to them via the receiver, we'll be paying them twice -as debtors and taxpayers! Please excuse the slight rant, but I had to get it off my chest! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 November 2011 : 21:21:41
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Having checked them out, they are actually affiliated with a reputable debt company. Even so, if you can do it yourself it will save you a lot of money.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 21 November 2011 : 17:07:44
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I had heard that the Rose court building was going to be used for all perceived high value London Bankruptcy self Petitions and LPA's. (still just off the Strand in effect at the back of the main court).
trying to relocate the HM court circular I was sent confirming the details.. no luck so far
At the same time more of the "normal" bankruptcy petitions were going to be moved out to the surrounding courts
Dusty please post back with what your local court say. I also had a large portfolio which caused me to press the buttons. It was far too complex for me to handle on my own I am glad I used the proffessional services of a company that specialises in BTL./ landlord bankruptcy
Good Luck Richard,
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Edited by - Richard P on 21 November 2011 17:08:45 |
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Hello My wife and I will shortly be going bankrupt
