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Dealing with Debt / Re: Help mobiles
« Last post by Lisa Thomas on Sep 19, 2017, 09:27:57 AM »
These creditors could cut off the supply and cancel/freeze the credit cards. 

They could apply to Court for a CCJ and send bailiffs in to recover goods to the value of the debt, plus costs and interest.

Or (unlikely) they could join together and make you Bankrupt (only a creditor/s owed £5k or more can apply for a bankruptcy petition).

You mention fraud - have you done anything fraudulent?
Bankruptcy / Bankruptcy Questions
« Last post by poppy9596 on Sep 16, 2017, 01:27:16 PM »

Hi All,

This is my first ever post because me and my husband are thinking about going down the bankruptcy route.

To start the credit cards are in my husband's name, the only thing I am named on is the joint account which will be removed if we go through bankruptcy. We have £40K of debt on different credit cards and have done balance transfers as you do when you think you can manage things. I was also temporarily unemployed for 3 years due to suffering with depression and anxiety so we did not have 2 wages coming through. Due to my anxiety and depression we overspent and lived beyond our means. We are looking to do UK bankruptcy from abroad in the USA as we are moving back to my home country to live with family temporarily until we get on our feet again. My questions are:

1. Would it be best if we filed bankruptcy before or after we move abroad and if we moved abroad would my husband's bankruptcy affect him getting any credit in the future in the united states? I was reading somewhere that the bankruptcy only affects him in the UK
2. Due to the reasons for going bankrupt would my husband be declined bankruptcy and since we are going abroad and he wont have employment what is the official receiver's stance on this?
3. Is bankruptcy straightforward in that it takes the 28 days for them to make a decision or would we need to keep in contact with the OR if circumstances change and provide them with evidence?
4. what would they class as unreasonably extravagant, I know we lived beyond our means but we didn't spend thousands all in one go and we have been making monthly payments every month on the credit card. by living beyond our means I mean not keeping a weekly food shopping budget, once in a while holidays, and due to my depression retail therapy. I am worried if my husband receives a bankruptcy order of 2 -15 years like it has mentioned on various websites.
5. Will I be affected my the bankruptcy since everything is in my husband's name, I know I wont be but just double checking. I will be opening my own bank account in my own name

Any advice would be greatly appreciated.
Dealing with Debt / Help mobiles
« Last post by prescotmunn on Sep 15, 2017, 03:38:37 PM »
Hello i owe around 5000 on cards and mobiles etc. The thing i am worried about is if the mobile companies can sue me or something? I have 3 contracts in different providers due to be cut off numerous times. The latest one i am paying all the bills as i really need a mobile. They can do me for fraud or anything?
Bankruptcy / Re: Bankruptcy
« Last post by Lee Lewis1973 on Sep 12, 2017, 12:32:22 PM »

I wasn't too clear on the 3 years.  Thanks for clarifying for others.

Bankruptcy / Re: Bankruptcy
« Last post by Lisa Thomas on Sep 11, 2017, 09:27:14 AM »
Thank you for sharing your journey.

Good to hear that it worked out for you.

Readers should note that the 3 years you refer to relate to contributions from your surplus income being paid into the Bankruptcy estate, if there are sufficient funds.

However please take advice before going Bankrupt to ensure it is the right option for you and understand your assets are at risk of being repossessed and sold through the Bankruptcy together with other ramifications so it might not be suitable for everyone.
Dealing with Debt / Re: Help
« Last post by Lisa Thomas on Sep 11, 2017, 09:24:34 AM »
Best of luck.
Bankruptcy / Bankruptcy
« Last post by Lee Lewis1973 on Sep 09, 2017, 12:18:37 PM »
I just wanted to crush some myths about Bankruptcy and it being the end of everything for the individual.

I went Bankrupt in 2015, owing £170,000 worth of debts.  This included my mortgage and a number of credit cards.  Within the space of two months, myself and my partner were made redundant. Neither of us could find work and we had no alternative but to go bankrupt.  Not a decision we took lightly but the pressure of being unemployed and having debt collectors knocking at the door, we had no choice.  Anyhow, for 6 months of my bankruptcy, I was unemployed, the OR didn't take a penny from me.  I then found work but the OR still didn't take anything from me.  On the anniversary of my first year, I still had not heard anything from the OR, so I phoned them and found out that I had been released from my bankruptcy. They won't always call you to tell you, so if you're in any doubt, call them.  It was over, only after a year!  I was amazed but also relieved.

The OR will only take from you what you can afford to pay, they will leave you enough to live on and they don't take control your bank account and yes, you can have a bank account.  There are plenty of online bank accounts and even high street banks will accept you.  Nationwide Bank is one of them.

It's true, you won't get anymore credit but would you really want to anyway?

My circumstances will not be the same as everyone but it is not as bad as it is made out to be.  If you have to ride out the full 3 years, then ride it out because it is worth it.

Dealing with Debt / Re: Help
« Last post by amilase99 on Sep 08, 2017, 04:21:43 PM »
I chatted to a Scottish guy at PRA he confirmed the debt was statue barred so I explained the debt was older than my 13 year old son and there has been no communication or payments for that 13 years ,I then said I will write to FCA about this and to that he said account would be closed today and hear no more from them.  ::)
Dealing with Debt / Re: Help
« Last post by Lisa Thomas on Sep 08, 2017, 04:12:35 PM »
If they have not chased you for more than 6 years then the debt would be classed as 'statute barred' however in your case it seems they have continued chasing, albeit it at the wrong address.

I'm afraid if this debt is valid I would recommend you take steps to negotiate a settlement or payment plan.
Dealing with Debt / Help
« Last post by amilase99 on Sep 08, 2017, 12:17:16 PM »

Hello ,had a letter today from PRA saying I owed £3,900 I telephoned them and asked what is this about ,and was told it was from a car finance debt from 2011 and not at the address I been living at for 13 years. I asked to see copies of credit agreement which the response was they did not have.
Anyway after the telephone call ended I remembered having finance for a car in 2004 and that was the only one I had.
Can they still chase me for that debt and why are they saying the debt is from 2011 ?
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