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I want to cry, advice needed from anyone who's gone through bankruptcy

(45 Posts)
missyhols Sun 29-Jul-07 18:12:09

Long story short dh and i have alot of debt and are moving out of home this thurs and handing keys back to mortgage company. We have had lots of professional advice and our court day for bankruptcy is the 9th.

Anyhow a debt collector for barclaycard just rang me, i told him i can't pay him anything and that we are going bankrupt and he turned around and told me that we prob won't get it and its hard to do etc. So i put phone down in tears. I'm now terrified we won't even though only asset is3 grand car

bran Sun 29-Jul-07 18:16:14

Don't listen to anything a debt collector tells you. I'm sure there are honest ones out there, but from what I've heard they will say or do anything to trick you into paying them when you are not obliged to, so that they collect their fee.

I have not experience of bankruptcy, but if you are following professional advice then a debt collector is very unlikely to know something that a professional legal/financial advisor doesn't.

I hope it goes well in the future for you.

missyhols Sun 29-Jul-07 18:19:09

Thanks bran. X

missyhols Sun 29-Jul-07 18:24:36

Don't know why i answered. I know thats what they're like. But now i feel really down when i was starting to feel bit more positive etc. Can't wait for this to be sorted my dd2 is due in 8 weeks and i still have to pack up my home

peanutbear Sun 29-Jul-07 18:31:38

I second what bran says my friend went bankcrupt it ws the best thing

I even had a natwest employee tell me they would take me to court and I didnt have the right to defend myself!!! I am sure they get paid commission

missyhols Sun 29-Jul-07 18:34:59

God thats awful. This is our last resort and what if judge does say no. I never thought i'd be praying to be made bankrupt

missyhols Sun 29-Jul-07 19:51:05

Has anyone been refused bankruptcy?

missyhols Sun 29-Jul-07 20:12:25

?

Peachy Sun 29-Jul-07 20:16:39

I haven't been bankrupt, but we did lose our home to debt a few years ago (had we not sold the house and moved into rented would have been bankrupt- ds3 was 5 months when we moved). All I can say to you is that things got hugely better gfor us after we made that decision and went fo it, we're now debt free life is less stressful too. Its taken awhile, but it was a good decision in retrosepct. XX

missyhols Sun 29-Jul-07 20:40:59

Thanks peaches we're in negative equity by about 15 grand. As we have our mortgage and sec loan on it we then also have about 19 grand debt with cards and overdrafts. So we have no choice but to lose home.

However we have tiny 2 bed flat and we're going to be renting a 3 bed with garden so we will be living more comfortably at least

expatinscotland Sun 29-Jul-07 20:42:00

he's talking out his arse trying to scare you.

hang up on them next time.

it's up to a court to decide.

whomovedmychocolate Sun 29-Jul-07 20:44:02

Missyhols - what a load of bollocks - he's lying. Don't believe him and don't be threatened by him either. Get his details and tell him you will make a formal complaint about his threats. Tell him you are recording the call. If that doesn't put him off just refuse to speak to him and tell him to put it in writing.

He can't do a thing and he knows it, he's just being a tosser!

Not long now and it'll all be over

You take care of that little baby of yours and focus on that instead!

missyhols Sun 29-Jul-07 20:46:23

I put phone down on him and told him i have nothing more to say. What's annoyed me most is now i'm thinking we won't get it and I'll end up in jail! Sounds stupid i know

missyhols Sun 29-Jul-07 20:50:00

Thanks WMC glad to see you about! We are all set to move thurs. Just thought I'll need to call secured loan people won't i to tell them that abbey will have keys to flat etc?

missyhols Sun 29-Jul-07 21:18:22

Bump

3Ddonut Sun 29-Jul-07 21:23:32

Not a lot of helpful advice to offer just some support, we are in an IVA at the mo (one step before bankrupcy) and those people on the phones are on a power trip we've had some very nasty comments (people like us who don't want to pay what they owe back etc) they won't send you to jail they won't benefit anything from it. It will be over soon, wishing you love and happiness.

Carbonel Sun 29-Jul-07 21:27:35

Do not worry - I have never known the court refuse to make a bankruptcy order on a debtors petition. I am an Insolvency Practioner and have been in the business for nearly 20 years.

There is no way you will end up in jail for debt, just relax and concentrate on packing up and looking after yourself and the baby.

Do NOT answer the phone - maybe set your mobile up with different ring tones for friends and family and a signal for your land line (eg three rings, ring off, ring again) and have a different number for your new house.

Also once you are bankrupt do not be conned by anyone that tells you their debts are not covered and still need to be paid, there are very few of these, mainly fines etc

Good luck and roll on 9th Aug!

Carbonel Sun 29-Jul-07 21:29:07

PS do not worry about the secured loan people, Abbey will tell them. The less you do the less hassle you have ...

missyhols Sun 29-Jul-07 21:32:14

Thanks so much thats put my mind at ease. I'll be able to sleep tonight x

swanseadaddy Mon 30-Jul-07 07:33:18

hi missyhols

when you go for the bankruptcy the judge(i think its a judge)will ask you how you got into deb and what steps you have taken to try to clear it

missyhols Mon 30-Jul-07 07:50:12

Thats ok. We have taken many steps to try and sort it. Our biggest mistake was taking out our secured loan to try and clear things. However our overdrafts got so huge we were using cards to pay for food etc. Payments then got massive and we realised just how bad it all was. Got help through cccs but with no disposable income and deficit of 500 each month we have run out of options. Cccs asked us to think of bankruptcy at the begining but we were trying to avoid it

swanseadaddy Mon 30-Jul-07 19:47:28

judge will be fine about it and give you a case number, if anyone calls you either in person or on phone/letter just quote number and tell them they are not allowed to talk to you anymore, they must get in touch with receiver.

i would tell anyone calling now that you have already gone bankrupt and quote a number like 376/07. by the time they realise the number is wrong you will have the new number.

my mate was discharged after 6 months and has now got normal bank account and has put it all behind him

whomovedmychocolate Mon 30-Jul-07 21:51:53

Missy - you don't have to tell anyone anything - don't worry about it. Your issues are: (1) moving on Thursday, (2) Going to court and getting the ruling so you can move on; (3) starting again (and once again looking after your babies).

Hang in there, you are nearly at the end of this. Just think by the weekend you will be in the home your will start again in.

missyhols Mon 30-Jul-07 23:16:54

Thanks girls. Can you believe the same company as yesterday rang me 3 times today. I told then all to bog off. Promise i won't answer now. Been told to expect someone at my door in 48 hours hoping I'll be gone by then.

whomovedmychocolate Tue 31-Jul-07 09:56:21

Missy - that must be megastressful. Why don't you go to the park or the library and enjoy some quiet time?

Anything to get yourself away from the situation. Even a cup of tea in your local cafe can make things seem better.

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