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Angie
New Member
United Kingdom
81 Posts |
 Posted - 13 February 2009 : 22:16:16
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Thanks ever so for all your help. The reason I asked my original question was ...
Concerning the CREDIT CRUNCH someone I overheard at a bus stop was saying to their friends that banks and credit card companies can no longer afford to write off debts any more unlike the good old days because of the recession so the creditors are now refusing to agree to early discharge as they can no longer afford to and are insisting people wait the full year have you any further news on this .. which I am sure will have a huge impact on early discharge cases from 2009. In any event I do hope I can get work soon. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 13 February 2009 : 22:30:25
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Personally, I can't see what difference the date of discharge will make to your creditors.
If you are paying an IPA then you will be paying that for three years - long after you have been discharged.
The debts are basically written off as soon as you are declared bankrupt, they just might get some money back.
The glimmer gets brighter all the time
Jan
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Angie
New Member
United Kingdom
81 Posts |
Posted - 14 February 2009 : 10:02:18
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Hi there
Many thanks ... the situation is I have been unemployed since October 2008 and went B in November 2008, at 54 am finding it a struggle to get any work. So I am not paying anything to my creditors as I only have £60.50 weekly which is why they might (creditors) refuse me personally early discharge. Have no car, no assets and live in rented accommodation. |
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John
New Member
United Kingdom
73 Posts |
Posted - 14 February 2009 : 10:17:43
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Hi
I have to say I have not read or heard of creditors taking this stance in respect of early discharge as you describe.
The advantages, if this is the case, are obvious in that the longer discharge is delayed the more likely the bankrupt may be in receipt if increased income or some kind of windfall.
I doubt the Official Receiver's offices will take too kindly to this as they are usually quite keen to close case files as soon as the investigation is complete, hence ED.
timendi causa est nescire
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Edited by - John on 14 February 2009 10:18:15 |
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Angie
New Member
United Kingdom
81 Posts |
Posted - 14 February 2009 : 11:04:18
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| Thank you very much .. will seen what 2009 brings hope there is some light at the end of the tunnel re the job front which is very depressing especially when you are in your 50's! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 15 February 2009 : 14:23:29
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I haven't heard about creditors being less likely to agree to ED.
The only reason I can imagine they would is in the case of people who don't have an IPA - if they oppose ED there is longer for an IPA to be imposed.
However, even if you don't get ED, a year isn't that long when you consider that you are getting a fresh start. I didn't get ED and I survived the full year!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
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Thanks ever so for all your help.
