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Falling Apart
Starting Member
United Kingdom
15 Posts |
 Posted - 26 October 2009 : 20:56:54
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Hello
Just got another question that's been worrying me all day at work, whilst trying to decide between doing a temporary DMP or going straight BR.
I've been thinking that in the past 3 years of renting, I didn't change my addresses with creditors. I left it as my Dad's house (where I moved back for 2 years), simply because the communal post box here is not very secure (outside the flats!) and is always overflowing with uncollected mail.
However, I realise now that this may not look good if the address on the BR form is different from creditor's records? Should I change these over to straighten things up now or is it too late?
I'm really worried that it may be a problem as I've been continuing to use credit all this time without changing my address. I'm in such a mess, that I only got round to changing my electoral role address last year too. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 27 October 2009 : 09:42:51
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| Having a different address won't be an issue for you declaring BR or starting a DMP. If you have already decided to enter into a DMP or declare BR then I would probably leave the address as it is. By changing it over it would only mean that you would receive letters from creditors chasing their money. |
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Falling Apart
Starting Member
United Kingdom
15 Posts |
Posted - 27 October 2009 : 20:47:19
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Thanks for the feedback gettingoutofdebt, that's very helpful.
More worryingly, I've been thinking back over the past few years and remembered that there was one small loan I applied for using my Dad's address when I was actually renting (so not really living with parents). Is this kind of detail picked up during the BR process and is it something I should be concerned about?
My contact at PayPlan is calling me tomorrow night to make a decision about either going ahead with a DMP or going BR. Just hoping I can get actually some sleep tonight so that I'll be able to decide tomorrow. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 28 October 2009 : 07:14:24
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quote:
More worryingly, I've been thinking back over the past few years and remembered that there was one small loan I applied for using my Dad's address when I was actually renting (so not really living with parents). Is this kind of detail picked up during the BR process and is it something I should be concerned about?
My loans and credit cards were taken at 3 or 4 different addresses and (I think) 2 of those were at a time when I was staying with my parents so I wouldn't worry. The OR never asked whether the debts were taken at different addresses and was only interested in the loan/cc details, what the credit was used for and the monthly repayment amount.
If you decide BR is the way to go then you will be asked by the BR Clerk if all of your debts were taken at your current address. If you say 'no', then he will ask for the other address details and this address will also appear on your BR certificate, the Insolvency Register and the London Gazette.
Mentioning your Dad's address will not affect him or his credit rating in any way so my advice is to be honest throughout the BR process and say that you applied for a loan at your Dad's address.
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 28 October 2009 : 08:49:14
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Some of my debts were at my mum's address and it was never even mentioned. I listed them on the forms and that was it.
Gettingoutofdebt is right, your dad won't be affected. I was living with my partner when I went BR and since then he has got a mortgage and credit cards with no problems.
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/
27 IPA payments made, 9 to go - in single figures! |
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Falling Apart
Starting Member
United Kingdom
15 Posts |
Posted - 30 October 2009 : 09:29:16
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Thanks to you both for the information, it sounds like I've been stressing out over a minor point on applying for a loan with a former address. It's also reassuring to know that going BR won't affect my Dad's address.
Spoke to PayPlan again and was advised that the only reason for considering a DMP would be if my situation was likely to improve enough to consider an IVA. As this looks very unlikely to happen, she advised that BR would be my best option or else do a DMP for the next 30 years at least. She also said that a DMP managed by PayPlan wouldn't stop the creditors from calling me, so I'd be under as much stress as if I stopped paying and went BR.
I'm going to remove my work number from my online accounts, but have a feeling they will still keep it on their database and will have the pressure of fielding these calls in a small open plan office, which is worrying me sick. I'm just hoping that for the first month they just write letters or call my mobile, as I'm really worried about what my colleagues will think.
So my next step is to stop panicking, cancel the DDs, call the court, open a Cashminder account and work on the forms! |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 30 October 2009 : 10:18:42
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| Glad we could help Falling Apart. From what you have said BR seems the best option for you and you have a good plan to ensure that the process goes smoothly. Let us know if you have any problems completing the forms. |
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