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| joella68 |
Posted - 18 November 2008 : 22:48:36
ok at the moment we have not defaulted with any of our creditors, so no missed payments ..... after reading some posts im a little worried now, before we go BR should we of tried to come to some arrangement with our creditors, saying that we are struggling, and need to reduce the amount we pay them, or is it ok just to go for the big BR, we have been borrowing money from family and not buying food etc just to make sure the bills have been paid.
jo |
| 2 L A T E S T R E P L I E S (Newest First) |
| debtrider |
Posted - 19 November 2008 : 10:01:31
Hello Joella68
If you are going bankrupt in the next 3 months then just stop paying your creditors now. You will have to put up with telephone calls and letters but just tell them that you are have financial difficulties at the moment and cannot afford to pay anything. It is important to try and pay your utility bills and your mortgage. In saying that you could miss 2 months on your mortgage without much hassle from your lender.
It is more important to buy food and keep yourself warm rather than paying your creditors if you are having financial problems.
I did not pay my unsecured creditors for nearly 5 months before going bankrupt in October of this year.
Debtrider
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| Needafriend |
Posted - 19 November 2008 : 06:54:22
Hi Jo
If your intentions are to go BR then you dont have to contact your creditors with an offer of a reduced payment plan, you can simply just stop paying the creditors and save that money for another home to move into and obviously the fees for the BR too.
I know what you mean by making sure the debts are paid i did the same for so long, but once i made the decsion to go BR then i saved that money to help towards other things, i did make sure that all my utilities were paid.
I would def give the helpline a call, they can go through your options and then get you on the right track. You need to know which way to go about things and a telephone call will help you put things into a better perspective.
If you stop paying the creditors then you will get letters etc but you must stick to your guns and pay no one unless its essentials and also your mortgage if you intend to stay.
Take care
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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