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Original poster

credit company wants to make me bankrupt HELP AND ADVICE PLEASE

33 replies

anom · 08/01/2007 16:55

just had a phone call from a debt recovery place and they have just told me on the 19th of jan they are putting in a petion to make me bankrupt, i dont know what to do we have no money at all and im pooing my self right now dp is on his way home and ive got to tell him.

OP posts:
Original poster
anom · 08/01/2007 17:01

anyone??

OP posts:
Imafairy · 08/01/2007 17:02

Can't help I'm afraid - but am bumping for you.....

wurlywurly · 08/01/2007 17:02

sorry cant help but bumping for you.

UCM · 08/01/2007 17:02

Ok, take a deep breath. How much is the petition for. They usually threaten but dont' always carry it out.

Have you been in regular contact with them?

UCM · 08/01/2007 17:04

First steps is to write a letter offering an amount you can afford to pay each month for definite.

The best advice I can offer is to make contact in writing at this stage. It will delay things and make them see that you are serious about paying the debt back. You need to ask them to do things like stopping interest at this point.

Original poster
anom · 08/01/2007 17:05

we allways offer to pay them but they allways wanted like £50 a week of us wich we could not afford £5 a week yes but they would never accept it.

we are in so much debt

OP posts:
wurlywurly · 08/01/2007 17:06

anom as awful as it sounds, if you are so much debt maybe its not a bad thing to agree to the bankruptcy(cant spell)

CocoLoco · 08/01/2007 17:07

Post on the Dealing with Debt board on the Motley Fool - www.fool.co.uk - lots of helpful advice and experts there.

amynnixmum · 08/01/2007 17:07

Have a look at moneysavingexpert.com here

Original poster
anom · 08/01/2007 17:07

would it cancel all the debts or just theirs though??

OP posts:
UCM · 08/01/2007 17:07

But have you written to them. Speaking on the phone doesn't do the job. You have to make an offer in writing. They know that the courts will not work in their favour if you have done everything possible to help yourself.

wurlywurly · 08/01/2007 17:09

what about CAB make an appointment there or even call the company the debt recovery people and discuss it with them, see if there is anything they can suggest.

Original poster
anom · 08/01/2007 17:09

dps on the phone to them now

OP posts:
wurlywurly · 08/01/2007 17:10

have a read of this

wurlywurly · 08/01/2007 17:13

this must be so scary for u anom.

CocoLoco · 08/01/2007 17:19

It's unlikely they're going for bankruptcy, are you sure it's not just a CCJ? If someone is trying to bankrupt you you need expert advice FAST - check out the site I said before www.fool.co.uk or go to CAB.

UCM · 08/01/2007 17:22

They should send you a statutory demand first, which you can reply with an amount that you can repay and tell them that you will apply to the court to have it set aside. This costs around 50.00 at your local court. This gives you the chance to respond in person at court and if you are cooperating the court may decide that your payment offer is the way to go.

If it's for a large amount this is a very good route to take.

Your local CAB will help you much more, but when you go in or make an appt. be sure to tell them it's for debt advice.

Judy1234 · 08/01/2007 17:25

You must try to communicate with them in writing. They threaten all kinds of things by phone. Say you want to hear from them in writing too. Perhaps even refuse to discuss by phone with them too.

Original poster
anom · 08/01/2007 17:29

dps just come off the phone from them, they want us to send them another income and expenditure form with a proposed payment offer to them.

Dp thinks they are trying the heavy on and dont mean it seeing as they have asked for an Income and expediture form.

really trying not to stress im 5 months pregnant.

OP posts:
Judy1234 · 08/01/2007 18:19

Can you also confirm everything in writing to them when you send the information too? Also do you definitely owe the money? Do you work?

Original poster
anom · 08/01/2007 18:29

yes we deffo owe the money.

the bloke dp spoke to gave us the company name and told us to email him the form to this email address, but when we have just searched the company name we cant find it any where??

OP posts:
Judy1234 · 08/01/2007 18:40

You need everything in writing in case it's not all valid or a scam or something. Do you know who they say you owe the money to? What is the company you cannot trace - the debt collection company or the conmpany you owe the money to?

DizzyBint · 08/01/2007 18:41

no no no!

someone wants you to email your personal income expenditure info and you don;t know who they are?! forget it. tell them you want it in writing, not a flippin email.

Judy1234 · 08/01/2007 18:44

These debt collectors are notoriously dreadful all over the country. DOn't be bullied by then. I always say say to them you won't speak on the phone and you will reply in writing to letters and you want it all in writing.

DizzyBint · 08/01/2007 18:46

what is the name of the company? did they say the people you owe money to have passed on the debt to them?