can credit cardcompanies force you into bankruptcy

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joanne.12

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Post by joanne.12 » Wed Apr 02, 2008 10:19 pm
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please could you advise me as to whether credit card companys can force you into bankruptcy if you have a house with equity in it even if you have tried to re mortgage and have been unable to because of the economic climate ? many thanks Joanne
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Adam Davies

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Post by Adam Davies » Wed Apr 02, 2008 10:23 pm
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Hi
It is very unlikely,they would prefer some sort of informal repayment plan.
American Express and Diners club are not so accommodating and may go for a charging order or even bankruptcy
regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Wed Apr 02, 2008 10:38 pm
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Technically they can make you bankrupt, but as this is unlikely to produce much of a financial return for them they are probably going to pursue you using other methods - charging orders as already mentioned by Andy, attachment of earnings, CCJs etc.
Regards, Melanie Giles, Insolvency Practitioner
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size5

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Post by size5 » Wed Apr 02, 2008 10:41 pm
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Add Northern Rock to that list as well.
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23+ years in debt advice
I do not post for anyone other than myself

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