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helen_w5
New Member
79 Posts |
 Posted - 06 August 2009 : 15:54:34
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| Hello - can anyone help with this? I went on my DMP in 2006 and never touched anymore credit from that point onwards, I just made my payments on time every month for the next couple of years and all was fine. Then in 2008 when I went to uni to enrol on year two of my degree I was told that I could not return to uni because my fees for 2007 had not been paid - I was under the impression that my government were paying them due to my low income. Anyway it turned out that I was not entitled to government funding for that year due to previous study and therefore I had to pay those fees. This was £3150 and obviously I didnt have that money so I had no option but to take a loan out for this to pay these fees. Well I paid the loan for ten months on time every month, and picked up more (maternity cover) hours at work to ensure I could. Now the lady on maternity has retuned and I am returning to uni and so my wages have taken a huge drop - I have therefore made myself bankrupt. My only concern is that will I get into trouble for taking that loan whilst on a DMP? Scared of BRO |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 06 August 2009 : 19:06:19
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Hi
there is a possibility that you may get a bru even though you have maintained the repayments to the loan for 10 months.
The OR may view it that you were technically insolvent at the time you took out the loan and therefore you have added to the debt.
I would suggest that you sit quietly and wait and see what they come up with.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 06 August 2009 : 19:33:39
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Hi Helen
Was this a student Loan, or a career development loan or was it a loan from a bank
Did the loan form part of the DMP
You had a legitimate reason for taking this loan out and if questioned defend it.
What % of the loan is of your total debt
Stu J Byron |
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helen_w5
New Member
79 Posts |
Posted - 06 August 2009 : 19:40:54
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It was a loan from welcome finance. It is about one fifth of the total debt
Very scared now!! |
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helen_w5
New Member
79 Posts |
Posted - 06 August 2009 : 19:42:36
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| The other thing for me to add was that at the time i took the loan i was living at home and then two months later i moved out for my own reasons and so when i took the loan i was earning and living at home so repayments were not an issue, but then i needed to rent somewhere which is when i struggled |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 06 August 2009 : 19:53:37
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If its 1/5 of the total debt and therefore is only a small amount of the total outstandinng the OR may not notice or may not put a BRO but verbally warn you. I took out Orange Broadband and Mobile phone when I was in an IVA and then went BR, They canceled contract and placed £3500 to my estate, the OR verbaly warned me that I shouldnt of took out more credit just prior to a BR and even in Insolvency she said that if it was any higher then she would of considered a BRU/O but she didnt, my total debts excluding orange where £44500 and then with orange shot to 48k
Best of luck and dont worry until the OR mentions it.
Stu J Byron |
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helen_w5
New Member
79 Posts |
Posted - 06 August 2009 : 20:01:15
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| He will ask when i started having debt issues and i will have to say in 2005 when i went on DMP but then he will go mad cos of the loan in 2008 - i spoke with payplan and harrington brooks who both said i will be ok, but im terrified - |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 06 August 2009 : 20:27:12
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Are you currently using a bankruptcy advice Service or did Harrington Brooks deal with your DMP
Stu J Byron |
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helen_w5
New Member
79 Posts |
Posted - 06 August 2009 : 20:28:53
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| Harrington Brooks dealt with my BK |
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helen_w5
New Member
79 Posts |
Posted - 06 August 2009 : 21:50:38
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| Please can someone help me with some more advice? OR interview in morning at 9am |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 06 August 2009 : 22:01:40
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I can't really add anything to Paul's earlier advice. Unfortunately it's a case of wait and see what the OR's take is.
Good luck for tomorrow, and let us know how you get on x
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/
25 IPA payments made, 11 to go - on the home straight! |
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Karen Jane
Starting Member
United Kingdom
42 Posts |
Posted - 06 August 2009 : 22:05:46
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Good Luck for tomorrow Helen, hope everything goes ok for you.
Karen x |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 06 August 2009 : 22:08:54
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Good luck for tomorrow too,
if it is brought up explain the reason why, in the end of the day you were forced down the road of a loan to pay your fees its the governments fault that they suddenly took it from you. Defend it that way aand that you felt that you were able to maintain a DMP and with obtaining a degree the reutrn would of increased considerably.
You can challange the OR and it goes back to the judge.
Have you got your bank account sorted, are you with Harrington Brookes - extra direct account or your own.
Best of luck again for tomorrow pleasse let us know how you get on.
Stu J Byron |
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sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 06 August 2009 : 22:14:04
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I went on a DMP in 2004, and got more credit card debt and catalogue debts upto my IVA in 2005 and then also had a wage overpayment between my second IVA
My OR never questioned this
Stu J Byron |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 06 August 2009 : 22:20:00
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Helen
Lots of luck - everything will be fine...
Remember: "There are no problems, only solutions"
Love, Richard (My wife is out of the study!!) |
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frosie90
Junior Member
285 Posts |
Posted - 06 August 2009 : 22:20:25
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Hi Helen,
Good luck for tomorrow, will be thinking of you. I am sure if won't be as bad as you are imagining. I was petrified before mine and the man was really kind. Even when I could not account for things he was understanding. He offered me time for a break etc. especially when I think he knew I was upset. Do let us all know how it goes. Good luck!
Rosie
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Topic |
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Hello - can anyone help with this?
