Bankruptcy threat

[Soulgrowth]

Great news Vicky ... and glad to see that we have Dad on side now ... he sounds like a force to be reckoned with!

Good idea about your brother possibly holding Dad's money for the time being.

Keep posting ...

Debbie

[Skippy]

I'm glad you've managed to speak to your dad Vicky. I remember telling my mum that I was in debt and going BR and I was terrified. It makes such a difference having your family onside.

BR isn't as scary as I thought it was going to be, and you will get through it. Your health is so much more important than your creditors.

[vicky 11]

Thank you all.

I am not too sure what will happen, Dad said just to keep the money where it is for now. He is quite scary when he looks up over his glasses, Debbie, but when he smiles at you, it kind of lights up your whole day.

Skippy, thank you for that, I have read a lot of your posts and I can see that you were very scared also. I dont know why we worry so much. What will be will be if we worry about it or not.

Yesterday I was so sick with worry, I really felt beaten, but today I feel I have my old life back. Something I thought I had lost forever.
My brother does not know about my financial situation, he knows about what happened last year. I want to tell him face to face and I feel I can do that now.

I dont feel so ashamed about the debt anymore, now that I have found this site. I have read somewhere about Debbie and someone else feeling that they are better people for going through this and appreciating life after debt.

I hope I can find this mistake a learning experience also. It seems to me that there are many here who have been through such a lot and survived. Now I know that I really will survive it all too.

Thank you all so much for your replies.

Vicky

[Lisa2009]

Oh Vicky, i'm so glad you told your dad. It must be a huge weight lifted from your mind. Im sure you will now get stronger and stronger knowing you can talk to him about it and that he will be there to help you.
When you said his smile lights up your day.....well im sure your smile lights up your childrens day so keep smiling and remember you WILL get through this with all the help and support you could ever have hoped for.

Good luck xxxx

[drowning-mummy]

Well done Vicky, feels much better doesnt it? You now have the task of learning what goes on in BR so there are no hidden 'surprises'. Once again, I cant recommend our sister site enough. You can find the link on page two of this thread. Hope to see you over there.

[vicky 11]

Thanks again.

My children dont actually know either, I have tried to keep this from them. I have two 19 year old boys and a 17 year old daughter, the twins are not identical but they look so much alike everyone thinks they are. They are going to university this September. They are not leaving home though, my daughter is going on to HND for teaching. They have coped really well with everything and have been very supportive and helpful. They are great kids, I couldnt ask for more, really. I would really like to enjoy this summer with them, if the sun would only join us. It would be nice to get this debt thing sorted soon. I will think about that on another day though. I feel I have achieved quite a lot today, with your help.

Thanks again

Vicky.

[vicky 11]

Hi again

I have to admit to being quite scared again. I have just phoned the company and they are going to proceed with the stat bankruptcy. The man I spoke to was horrible, he said, well you have 32K debt, and offering 25 per cent, its never going to happen is it? We would only ever consider 75 per cent, which I do not have. He spoke to me like I was a piece of something he had just trodden in. So it looks like I am going to go bankrupt. I have tried so hard to sort it out. I really cant do anymore than that. I am so scared, shaking now. I hope its all going to be OK.

[chris.g]

Things will be ok Vicky. Try not to let it bother you the way this ar*ehole has spoke to you, some of them are less than pond life.
Try to get in touch with a br expert like Paul from Reviva, they will be able to advice you on how best to follow this up. The £8k would have been better than what they face getting now, nothing!!!
Give your brother the money to hold for your father and take pride in the fact you have tried to sort this out.
Try not to worry, xx

[kallis3]

Well I would say that he will probably get way less than 75% if you go br.

At least it won't cost you if they are going to do this, as they will have to pay the fees.

I hope that it all works out for you Vicky.

[suzanne100268]

I can't understand why this creditor would want to proceed with bankruptcy. You are not working and have no assets - so what are they going to get out of making your bankrupt? NOTHING....I think they are bluffing!!

[vicky 11]

Hi again.

I cant understand why they are taking this attitude. The debt has been sold on and they now own it. I am sure I read somewhere they bought it for 10p or so in the pound, in this stuff from the CCCS. I am sure they said, when I spoke to them that it would cost the creditor thousands of pounds to make me bankrupt. I was offering them more than double what they bought the debt for. I have just spoken to someone at CCCS and they said that perhaps the creditors think I have something else to offer. I dont, we sold our house in negative equity, they was around 2.7K we borrowed to finish it all. My Mom and Dad gave me the money for the deposit on the my rental. I cant contact my Dad today, he is at his girlfriends house until thursday, I dont want her looking down her nose, like she did last year. I am sure she thinks I only did it to piss her off.

Anyway, after my initial shock I am all for it now, they can bring it on, they can also pay for it. I think Dad was thinking of giving me more money to pay this company off. I will tell him no way, let them bear the loss. I really have tried my best, so I have nothing else to lose really. Just a few things I need to find out about, like will it affect the kids? I mean they have all applied for student support and loans etc. I have just sat them down and explained that I am going to go bankrupt. Bless them, they listened and my daughter said, I will come with you. The other thing is my car, its ten years old, I have to pay a really high insurance policy due to the epilepsy. I was banned for two years, I have never had an accident. So its really not worth that much, I feel I do need it though.

The rental on this house also is bothering me a little, I rent from a chap who owns all the houses in this street, he is very nice, should I ask him or should I leave it. Thats my main worry, I dont want to move or up root the kids. I am on half pay at the moment it runs out in October, I did mention to him about being on benefits and he said he doesnt usually accept people on benefits but since he knows me as long as the rent is paid, it would be OK, but I should be back in work by then, I hope.

I am getting ahead again, yes, I know, one day at a time.

[Lisa2009]

If your car is worth less that £2000, the OR will probably have no interest in it and especialy as you need it for your disablilty.

Have a word with the landlord as im sure if you have kept up with your rent and can continue to do so, he will be fine with allowing you to stay there.

Good to see you getting stronger. Let the company do as they will. You will be rid of them then and able to get on with your life without all the stress.

[chris.g]

I echo Mrs Skint's advice. Our landlord was fine, when we went to view the house I told him we were filing for br and he was great. It sounds like your landlord will be fair, as long as the rent it paid at the end of the day!
It's great your kids know, they will be able to support you through the br.
As you say, let them push AND pay for your br, every penny counts now and it may as well be in your pocket than theirs.
Keep your chin up hun, xxxx

[vicky 11]

Another thing I need to ask is since I am being made bankrupt, does that mean it will just happen and all my money will be just taken without a warning. What happens about the bank account I have? I dont owe anything to my bank, do I need to open another account? Sorry to be a pest. Is being made bankrupt that much different to doing it yourself?

Thanks again for your help
Vicky

[vicky 11]

Another thing that I am thinking is this money I have from my Dad, I want to take some of it out and just put it aside for the rent. Perhaps just pay something in advance of my losing this half pay. I know in October I will lose this pay. The main thing is having somewhere to live I really dont want the stress of moving, if I pay say six months rent in advance in the interim period of losing my pay and finding suitable work, it would give me a lot of peace of mind.

What do you think?

My house is a tip today, I have done nothing but speak on the phone and read stuff. I still feel Ok though, its kind of liberating. My mom used to say everything happens for the best.