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lynne.i
Starting Member
9 Posts |
 Posted - 23 February 2009 : 14:22:46
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My partner and I have yet another appointment in cab tomorrow hoping this time that it won’t be a waste of time. Last time we attended they said they couldn’t help us as we had business debts. Business debt line that I had talked to previously have told us to go back again as we are no longer trading and am a partnership and they are now classed as personal debts. What I am asking is what can they do for me what should I be asking? It’s making us both ill with worry we just want it to end. We had a really nasty phone call from a man from something called progress financial recovery who has taken the debt we owe to tourist information services. We have had no previous letter from him just a very nasty phone call that was very upsetting saying that we were like all the other people that didn’t pay their bills and that if we thought anything of our children we wouldn’t of got into this state. He also threatened us with bailiffs coming round. I’m not worried about them taking anything I haven’t got anything to take not of any value anyway. Just scared of the experience. I am so sorry for waffling on.
My husband and I have been running a retail business for the last 12 years. We owe the bank over 10,000 on overdraft and 13,000 on a loan. We also owe another bank over 4,000. In all we owe around 32,000 I think with no way of paying now we have closed our shop after the takings had practically just stopped. We have no income now apart from child tax credit, child benefit and my husband has just signed on for job seekers allowance but has heard nothing yet. We can’t see no way out apart from going bankrupt which is what cab and business debt line told us to do previously. But we have no money to go bankrupt and don’t know what is going to happen to us.
We literally have no money for food at the moment and are finding it all so overwhelming. Hope somebody can help us with advice so sorry for the waffling
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 23 February 2009 : 15:08:51
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Hi there, so sorry to read your post and to hear of the difficulties you and your husband are facing. If you cannot afford your monthly commitments you are insolvent and probably the best course of action is bankruptcy. The fees for this are £495 per person which i appreciate is rather a lot of money given your position, but unless a creditor is proposing to make you bankrupt the fee has to be paid to fund the bankruptcy petition. If you are no longer working and in receipt of benefits you can get a reduction of the court fee (£150)details of the relevant qualifying benefits are stated in one of the forms which accompanies the bankruptcy pack from the Court. Many utility providers will also help towards the cost but only the CAB can check whether you qualify for this help and provide the relevant voucher, although you do have to ask they do not routinely give out this information.
With regard to the bailiff situation, they can only call around for unsecured debts if they have taken you to court and obtained judgement for the debt. It appears from the info you have provided that this creditor who has been stating this on the phone is basically threatening/bullying you into payment. You do not have to just take this sort of abuse, if it happens again state that you are going to report their behaviour to the local Trading Standards Office - you do not have to follow through with the action but it can sometimes help!
Do you own your home? If so, is there any equity? as this will depend on whether the route of banktuptcy is the correct way forward for you. Perhaps you would be better off seeking the advice of an IP (look on iva.com for a review of IP's or indeed on the sister site iva.co.uk who have a number of well regarded IP's who would help you look at your full situation and give you the appropriate advice for your circumstances taking into account the whole scenario, which is difficult to do on the forum with limited informtion)
Please feel free to come back to me with the situation regarding your home, and i will try to help in anyway I can
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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lynne.i
Starting Member
9 Posts |
Posted - 23 February 2009 : 15:16:05
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Hi Melanie, thank you for your response it feels good to know that somebody is listening. No we dont own our own house we are private tennants with no assets at all. Our car is also on lease finance and we have defaulted on this as well as another lease finance for office equipment.
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 23 February 2009 : 15:31:16
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Hello again,
The lease agreements onthe vehicle usually have a bankruptcy clause which would mean you would lose them if you filed for bankruptcy.
When you are at the CAB tomorrow ask them whether or not your utility providers are signed up the the voucher scheme and perhaps you will be able to get help that way, other than that you will have to wait while you scrape together the fees, awful predicament I know, but you cannot file for bankruptcy without paying over the required fee.
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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lynne.i
Starting Member
9 Posts |
Posted - 23 February 2009 : 15:58:50
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thanks for reply Melanie. Would we both have to pay the £495 fee as we are a couple and debts are in joint names. Would we be allowed to borrow the money from a member of our family?
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 23 February 2009 : 16:21:43
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Unfortunately it is £495 each though £150 court fee part of this would be waived if you are in receipt of certain benefits (check from from court to see if you receive qualifying benefit plus ask CAB re utilities voucher)
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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My partner and I have yet another appointment
