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kramsenrab
Junior Member
United Kingdom
199 Posts |
 Posted - 05 July 2008 : 23:28:09
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we are planning to go BR, but now need to save for the fees. I do not intend to default on mortgage/secured loan payments, so this might take some time. I have a couple of questions:
As I am sure that I will lose the car(s) could I sell mine now, use a little for the fees, then keep the rest to give to the OR? I would be upfront with him/her what I had done...
What do I tell the rest of the creditors now? I cannot pay them so should I send them a letter just to show that I am not totally ignoring them?
Thanks  |
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melanie_giles
Senior Member
1191 Posts |
Posted - 06 July 2008 : 00:23:15
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It is fine to sell your car now, so long as you ensure that you get market value for it. Just tell the creditors that you are in the process of declaring yourself bankrupt, and that you can no longer afford to pay them anything.
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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kramsenrab
Junior Member
United Kingdom
199 Posts |
Posted - 06 July 2008 : 08:34:48
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Oh thx Melanie, I am so relieved to hear that. I think what I am finding very hard to deal with is the potential lack of control I will have once the OR gets involved. I really want to try to keep on top of things now, particularly as I have let things slide for so long.
Ok I will advertise car, and draft letters for the creditors. Does anyone know of any template letters available? |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 08 July 2008 : 15:46:48
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Hi Kramsenrab,
How long before you go BR? It can take some creditors a remarkably long time to process letters, so they may not get round to dealing with yours in time anyway!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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kramsenrab
Junior Member
United Kingdom
199 Posts |
Posted - 08 July 2008 : 18:29:33
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Thx Julian,
I am in the process of selling the car, so as soon as I have the money, we will be able to afford the fees. I really want to do it as soon as possible.
I think we are being called by 2 creditors at the moment, but have genuinely been unable to answer their calls, and I cant afford to call them back!
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 09 July 2008 : 18:26:18
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Hi Kramsenrab,
Just grin and bear it for a little longer then ... it's almost over :)
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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kramsenrab
Junior Member
United Kingdom
199 Posts |
Posted - 09 July 2008 : 18:28:53
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Thx Julian,
We are getting fantastic help from Paul in proceeding, so I feel a lot happier now we have spoken to him. I will continue posting with my progress... |
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what to tell creditors?
