Bankruptcy threat

[vicky 11]

Hi all

I have been reading for a long time but this is my first post. This forum has been very helpful to me without needing to post, so thank you all for that.

I am quite scared about this letter that I have had today. It reads, it is our intention to issue stat demand under insolvency act 1986 (bankruptcy). I owe them 2K and have offered settlement of 25 per cent of the total owed. I dont understand as I have made them fully aware of my circumstances and reasons for non payment. They go on to say that they have not received valid reasons. They have asked me to contact them to arrange mutually convenient time and date for service. I have told them that I am unwilling to talk with them verbally. Since I tried to kill myself last year as I was so hounded by the creditors.

Since reading the forum I do undetstand that they do threaten and try to scare you. My Dad gave me some money to try to settle the 32K debt that I owe which I have tried to do since January. I have had fake telegrams etc but this letter is more scary. I am not sure if it is their intention to make me bankrupt. I am quite scared as I dont know what this means.

Please help

[Viki.W]

Hey vicky 11, welcome to the forum, glad that you decided to post. Are you trying to settle these debts on your own or using a professional company as it must be very hard on your own and you don't need this added upset, especially after what you have been through. Please post a few more details and the experts will try and help. Viki X

[MelanieGiles]

Hi Vicky and welcome to the forum

With £32k worth of debt you cannot afford to pay, the issues which happened to you last year, and the threat now of bankruptcy proceedings against you, you must seek professional advice as to your options as quickly as possible.

Please contact an insolvency practitioner who can review the situation with you and make suggestions as to how you might deal with your debts. I can promise you that you will feel tons better afterwards.

[vicky 11]

Thank you for your quick response.

I did contact the CCCS and they said to write to the creditors with the offers, which I did but only one of them settled straight away. I have also contacted an IP well three and they all said that I dont have enough to use an IVA. I am off long term sick because of the events last year. I was diagnosed with Epilepsy three years ago and lost my job etc. I then couldnt pay my creditors back. My hubby left a year or so before that so I live with my three children who are teenagers and in college. I have written to the creditos time and time again with offers of settlement. I have explained my situation to them also. Noone, apart from my Dad knows of my situation so its hard today, with it being Saturday and this letter. Do you think it is a threat or are they really going to make me bankrupt, given that I have really tried to offer them something. It always seems that I get a worrying letter on a Saturday and there is no one to talk to about it. I actually feel sick as I dont know what is going to happen.

[MelanieGiles]

How much disposable income do you have Vicky, and do you own any assets? If not, then I think that bankruptcy would be the very best thing for you, and if someone is going to pay for that it will also save you a £495 filing fee.

[chris.g]

Vicky, welcome to the forum.
Firstly can I say, there is a way out of this situation, please remember that.
Could you possibly seek advice from the CAB? I got help from them before we went bankrupt and found them a marvellous support and help. Face to face talking sometimes works wonders and they will contact your creditors on your behalf so you don't have to deal with the calls and letters yourself.
If these creditors force br on you, what can they gain? Do you have any assets? Own your home? These points need to be taken into account. However if you have little or no assets and br is your only option, look on the positive side, them forcing you into br will save you the £495 fees that it costs.

[vicky 11]

Hi again and thank you for your quick response.

Well I am on sick pay right now, so I have no real disposible income. I have no assets either, I am renting. I am quite scared of bankruptcy, I dont understand why the CCCS told me that I am doing the right thing to avoid Bankruptcy. They suggested this option earlier on. My Dad was really angry with me last year when I did what I did, I couldnt see a way out then, so I told him why and he offered this 7.5K to help me. I dont think he is going to be very happy with this, I have let everyone down so much. The creditors will get nothing if I go bankrupt, it makes no sense, I am offering them something. Are they just spiteful or stupid? I know I borrowed the money and its my fault.

What does it mean, please contact to arrange a mutually convenient time for service? I have refused to speak to them, I only write to them, I have changed my phone numbers so they cant phone all the time.

[Lisa2009]

Vicky, you havent let anybody down. You have tried to address your problems please remember that.
Bankruptcy wont be nearly as bad as you think. Have a read of some of the blogs written by skippy, scaredkez and others.
They take you through it step by step and everything is explained.
You really need to get some closure now and move on with your life.
Your children need you sane and well.

[vicky 11]

Thank you Mrs Skint and Chris

You are very kind, I have read this forum for six or so months now and I have really learned a lot.

I know I have been a bit stupid and putting my Dad and my kids through attempted suicide. I have never done anything like that before so it was a massive shock to them. After a very nasty divorce and moving into rented accomodation, I thought I would be OK, then I had this fit thing and was diagnosed with epilepsy. The doctors thought it was brought on by stress. I had all kinds of scans and tests but there was nothing to explain the sudden onset of epilepsy apart from there being other sufferers in the family. My job in wages involves staring at a computer screen all day which made the epilepsy much worse. It is now well under control,with medication. I am only able to claim another six months on half pay so in October I am to see a disability person at the job centre to look for another career. I am waiting to hear about getting Disability living allowance. I am 45 now so I dont have much hope in the work sense.

I do feel much better for finally plucking up the courage to post. It actually says at the bottom of this letter that if I do not contact them they will issue a service, so may be if I do contact them they wont go ahead with this. I will write a letter and send it recorded delivery. I still have the 6.5K in the bank that my Dad gave me. (I actually lied to him about the amount that I really owed). I could even give this company some of this money to get rid of them but the CCCS say that I must treat them all equally.

I am so grateful for your support, its been such a horrible time.

I have read Skippy 13's blog. The only fear I really have is it all being in the paper etc, my Dad would be horrified. I want to do the right thing. I do not want to leave my kids. ~Sometimes I wish they would stop Saturday post so that they couldnt cause this worry at the weekend. I am really scared but if Bankruptcy will end it all, perhaps it would be the best thing.... I just have to deal with my Dad, not something I would ever choose to do.

[Lisa2009]

Why dont you sit your dad down and be honest with him? He will understand i'm sure. No matter how old you are, you are still his little girl and he would hate the thought of you going through all this on your own.

[Viki.W]

Vicky, as Mrs Skint says, sit him down and tell him what's going on and how you're feeling. Your Dad would rather have a bankrupt daughter than no daughter at all. You need his support and you need a fresh start. Please keep posting, we're all here for you. Viki X

[facingittogether]

vicky - as others have said please tell your dad the full extent of your problems, he really would not want you carrying this burden alone!

you are more important to your dad and children than any debts, there will be a way for this to be sorted, please keep posting we are all here to support you!

love barb x

[vicky 11]

Thank you all so much, I am moved to tears by your caring attitude. I love my Dad very much but he isnt the touchy, feelie type at all. He is very practical, he is very honest too. I guess I should be honest with him. I feel sick at the thought of it though.

I have nothing to show for all the money I have borrowed, dont even know how I got this much in debt, it was just a couple of cards and consolidating.

I will write to this company and see what happens, if its out of my control my Dad will just have to accept that. As you say, my children still need me and I want to stay with them. Its just on occaison I think what if I just died because I am a bit sick of living with worry. I wouldnt do it though, I couldnt do that to them all again.

At first I couldnt live with this epilepsy thing but now I cope really well. I just need to find another job that I can do. I am very fit and healthy apart from this and suffering from depression. My Dad thinks that I am on deaths door all the time but I am not.

[chris.g]

Vicky, try to talk to your dad, once he knows the full facts his reaction may not be as bad as you are expecting.
Bankruptcy is a great relief when you are where you are, believe me, I have been through it. It's scary because you do not know what you expect. Please believe me, it is not 1% as bad as you think it will be. I hope the other br's on the site will back me up on that one.
My hubby is epileptic, has been from him being 16 and he's just turned 36. It can develope at any time of life and have no obvious reason why it starts. Your condition is now well managed through medication so try not to worry about it too much.
You must get some advice as you really do need to try to stop worrying and get some plan into action. Once, as they say on the forum, you get all your ducks in a row, you will be able to think a bit more straight and things may not seem as frightening.

[Adam Davies]

Hi Vicky
You really need the help from one of the professionals on this forum.
Strange advice from the CCCS,many creditors will not settle directly with a debtor,mainly because the letter never gets to a decision maker.
Speak to another IP,Melanie would be a good start and if she can't help directly then I am sure that she will point you in the direction of Paul Johns,REVIVA.
What is clear is that with no disposible income you need to do something now,as the debts will just increase.
You have made a big step today,posting and looking for a solution.
Regards