Hi, I have filled out my forms online and rang the court to find I cannot get an appointment until 25th Sept. The position is that I have managed to keep up payments to the credit cards but the savings will run out before Sept 25th. What is my best course of action. Should I stop paying everyone (and no doubt get phone calls galore), should I pay some that I can afford or pay just a small amount . Is the day that I go to court the day I become BR and if I get calls do I tell them this date. Just could do with some expert advice on this one. I wasnt expecting such a long wait. I get paid again in two weeks.
What ever you do either pay in full, token or not at all, it is important you treat all your creditors the same if you don't pay one don't pay any of them. That way you are not preferring any of your creditors You are not expected to fund the costs of bankruptcy and meet your commitments in any given month so I would cease payments. To be honest token payments at this stage as you have an appointment date are a complete waste of time
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Sorry forgot to add - tell any creditors who contact you, the date of the hearing and court name at which you are filing - ie I am going bankrupt on....at.......and then as if by magic - they back off!
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Ok thank you for that. Would it actually be an idea for me to write to them and give them that information so that they dont even need to ring, now that I have a definite date.
Writing to these companies is a waste of time as they are only interested in getting their full amount each month and if they don't get it they will call you.
Also, from my experience and contrary to Melanie's advice, if you tell creditors that you are declaring BR they will not stop calling you. They realise that they have no chance of getting their money once you are BR so increase pressure. This might not be the case with all creditors but it is certainly true with some.
Whether you decide to pay them until your savings run out is up to you. As Melanie says you will need to make sure that you pay each creditor on a pro-rata basis to ensure there isn't any creditor favouritism. If you decide not to pay them then the OR would take any savings you have and distribute this amount amongst them anyway so it isn't as if you could keep the savings. Just make sure you have enough for your BR fee.
Hi, I have filled out my forms online
Posted - 28 August 2009 : 04:21:59
