All Forums  archive  Forum Questions  Hello. I'm probably having to go bankrupt

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by monkey[/i] [br]Hello. I'm probably having to go bankrupt and wanted to ask about the timing of any possible charging orders that may be placed on my property if I start missing payments before going bankrupt. I've read one reply on your forum which suggests the whole charging order process could take 3 months and provided I could successfully go bankrupt before then, it would avoid the charging order being applied. Failing that, the charging order WILL be applied, and will remain even after bankruptcy. Is this right? And if so, my questions are: 1) To 'successfully' go bankrupt. Does that mean the whole bankruptcy process would have to be complete by the time of the charging order hearing to avoid the charging order being applied? Or would I just have to START the bankruptcy procedure? How long does the process take? 2) I haven't yet missed any repayments on my debts and would prefer a couple of months breathing space before starting bankruptcy, just to think, breathe, and finally weigh up any options. However, next month I won't be able to meet my debt repayments so will either have to start missing them or doing token payments. I'm just after some kind of feel for how eagerly lenders jump straight to a charging order. If they get any whiff of my trouble (i.e. by me giving token payments) are they likely to go out straightaway and begin applying for a charging order, or in general, if I've not missed anything yet and give a plausible reason (e.g. cash flow) for not having the money, "and I hope to resolve this shortly blah blah...", are they likely to give me a couple of months on token payments before thinking about a charging order? I'm sure this is very dependent on lenders, but I just want some kind of idea. (Most of my lenders are ordinary high street ones, although I do also have a loan with Welcome Finance). Thanks very much. [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.