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paddyuk
Junior Member
United Kingdom
210 Posts |
 Posted - 24 November 2008 : 16:33:25
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| Im bit scared that I may go to prisons or something, because ive changed address so many times and got payments and stuff out of my ears all my finances are messed up. I want to declare bankruptcy but im really petrified that they will charge me for fraud or something. |
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John
New Member
United Kingdom
73 Posts |
Posted - 24 November 2008 : 16:49:11
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Hi
the fact that your finances are in a mess and that you have debt that you cannot repay is not a criminal offence in itself.
If you have taken out credit recently and made no attempt to make any repayments and / or were never in a position to repay money that you have previously borrowed this could, repeat could, constitute fraud.
Otherwise your debt is most likely a civil matter and prison is not on the radar.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Almost there
Junior Member
United Kingdom
288 Posts |
Posted - 24 November 2008 : 17:02:10
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Sorry to jump in on this thread, but does that mean 'new credit' or existing credit cards? I am having to use my credit cards to live even though I will be declaring BR in the New Year.
Thanks
Sandie |
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joella68
Junior Member
United Kingdom
280 Posts |
Posted - 24 November 2008 : 17:11:53
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yeah me too sandie, i stopped all direct debits last week to ALL creditors but had to use my credit card yesterday to do food shopping, im scared too !
jo |
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John
New Member
United Kingdom
73 Posts |
Posted - 24 November 2008 : 17:12:49
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Hi
new credit immediately prior to bankruptcy is a definite no no.
To use existing credit is not favoured either but if it can be evidenced by virtue of statements that the card use was for essential expenditure, food etc, then that should be accepted.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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dazed and confused
Junior Member
United Kingdom
475 Posts |
Posted - 24 November 2008 : 17:18:22
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Hi!
Sorry to jump in too...
What about a Balance Transfer onto an existing Credit Card a month or two before stopping paying the Creditors?
All my stupid mistakes are coming back to haunt me now... |
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John
New Member
United Kingdom
73 Posts |
Posted - 24 November 2008 : 17:26:21
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Hi
whilst you are not increasing your debt by doing this, which would be the major issue, you are transferring debt from one creditor to another thereby reducing your debt to one at the expense, ultimately and at the time you declare BR, of another.
Not ideal but not necessarily fraudulent particulary as you have maintained a DMP which suggests BR is not already your chosen route at this point. (Even if it is if you get my meaning).
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Integrity
Junior Member
United Kingdom
201 Posts |
Posted - 24 November 2008 : 18:20:17
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I agree with John on this. Care must be taken if you are going to go bankrupt and you take out additional credit. If you look on the insolvency web site (www.insolvency.gov.uk)and look at the BRO bankruptcy restriction orders (this is where mis-conduct has been proven) and the individuals bankruptcy has been extended (up to 15 years).
A lot of the BROs relate to obtaining credit without the intention or ability to pay it back.
Moving around is not a crime. You must declare all your creditors. As an aid to your memory you could get a consumer credit report from experian.co.uk or equifax.co.uk this will list the creditors.
Hope this helps :-) |
Edited by - Integrity on 24 November 2008 18:22:17 |
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dazed and confused
Junior Member
United Kingdom
475 Posts |
Posted - 24 November 2008 : 22:08:38
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Hi John and Integrity!
Thanks for your replies!
Yes at the time when I transferred it, BR was not an my mind at all - I still thought I was 'in control' of my finances at that point!
Looking at the IS website about BRU / BRO cases is kind of reassuring in some ways as it puts things in perspective!
Thanks again. |
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im scared that ill go to prison or something
