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nicholasg
Starting Member
15 Posts |
 Posted - 10 January 2009 : 21:09:52
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Assuming no assets (and renting) why not wait to see what your creditors do.
If you are not in a position to pay your debts why not just not pay them and see what your creditors do?. If they make you bankrupt you have saved the bankruptcy fee but they probably won't because you don't have any assets only a variable salary based on contract work. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 10 January 2009 : 21:46:19
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Hi Nicholas
I can see your point here but the main ones being that it is not to a creditors advantage to make you bankrupt but they can take you to court and impose a court order for payments, failure then not to pay could lead to a spell at HMP.
If you cant afford the debts then really BR is a viable option it leaves you with dignity and pride and can do it when you feel ready, it can stop all the fear and put you back in control.
But at the end of the day its a gamble and personal choice.
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 10 January 2009 : 22:19:47
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There are better reasons to deal with your situation rather than to wait and see what happens, such as:-
1. puts you in control
2. more dignity in deciding yourself
3. peace of mind because you have closure
4. less phone calls & letters
5. not worrying about bailiffs
6. you can draw a line and move on with your life.
Good value for £495 really
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 11 January 2009 : 09:35:09
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I agree with Jo & Paul
There is no way i could of handled all that stress of worrying, waiting to see if 'today is going to be the day', all the phone calls etc etc etc.....I was already taking things out on hubby and children and was soooo moody and tearful all the time.
Again, its personal choice but i feel i certainly got value for money !!
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
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pix1
Average Member
689 Posts |
Posted - 11 January 2009 : 09:51:33
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| If you go bankrupt you draw a line under it and the clock starts ticking: in 6 years there will be no reference to any pre-bankruptcy debts on your credit file. Only the Gazette newspaper will have continue to have a record of it. It beats just waiting for who knows what to happen. |
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s4pps
Junior Member
252 Posts |
Posted - 11 January 2009 : 10:26:25
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Everything that Paul said :)
Plus I had CCJ's which had involved bailiffs visting my business. If we hadn't pre-empted their plans in all likelihood we'd have had the bailiffs turning up during trading hours taking the stock.
We had control of what we did and when we did it. It's only been 3 weeks since BR for me, but each day I feel a bit more like my old self :)
Suzanne x
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 11 January 2009 : 10:29:03
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Here here Suzanne, Pix & Movin'on,
I do think as i said its much better to do it yourself.
I am so glad that i got there first, god knows what would have happened if Lloyds had followed through with their threats.
That was last year and the past time for me to move on to my better future, my debt free and happier future.
LOL
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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pix1
Average Member
689 Posts |
Posted - 11 January 2009 : 11:13:56
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Its strange but bankruptcy is like a sort of cleansing of the soul. Not all that religious, though!
Hey, Needafriend, I am hoping you might get your IPOQ by the end of February and your early discharge by sometime in May. Fingers crossed, only time will tell. |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 11 January 2009 : 11:35:00
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Hey Pix
Thanks, i spoke to my OR on friday re BI in the house, i asked how things were going and they said that the file was still open and not being sent to RTLU yet as they were still waiting on stuff to come in. Dont know what they are waiting for but that might be why so far we have not heard anything about an ED.
It would be nice to get to the 6 month mark and hear back but i am not holding out, its been over 5 months now and just under 7 to go, this has gone very quickly so if we have to go the whole year then thats fine with me. All i want to do now is get my BI in my home sorted out then my head will be much clearer and i feel then i can finally move on, as being a bankrupt has been the best thing i could have done i still feel that i am in limbo, esp where the house is concerned.
I have my Dad now willing to buy the BI for us to a reasonable amount so fingers crossed, i am kinda hoping that it is in neg then i wont have to ask him to continue with his offer but i spoke to him yesterday and he just wants us to sort it out and make sure the kids are settled, he does not want us to lose the house and is willing to help in any way he can, bless him. He did offer last year, but at the time equity was about 10k and i refused to let him loan me that amount, he is not getting any younger and i dont want him in any more debt, even though his house only has a 20k mortgage i dont want him to have to put his own at risk to help his daughter and grandkids. I love them too much to do that. :-)
I will let you know if i hear anything.
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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Edited by - Needafriend on 11 January 2009 11:36:02 |
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Assuming no assets (and renting)
