INSOLVENCY ACT 1986, SOMEONE PLEASE HELP

[markus]

i'm a single taxi driver with no home. i rent a car that i do not own, i'm being forced in to a bankrupcy by a big leagal company who wont let me pay off one off my debts at a rate i can afford, i cant even afford somewhere to live as i'm paying so much off, i live in my taxi. i dont know what to do, some one please help, i'm really lost at the moment. what makes it worse is my ex is having my baby, i dont want anything to happen to her or the baby because of this, someone please help.

[MelanieGiles]

Hi Markus and welcome to the forum

Have you considered whether bankruptcy proceedings would be a better option for you? It is unlikley that this would affect your ability to earn a living, and it does not seem that you would have any disposable income to offer to creditors. You would need to check whether this would affect your ability to rent your taxi. Have a look at the Insolvency Service website, which gives lots of useful information on this procedure, or speak to Gill Hankey at the Bankruptcy Advisory Service.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[markus]

bankruptcy proceedings? i thought thats what they were doing. for the past few years i've been paying off lots of debt but this company won't be flexable, i'm skint every week. everything i own is in a bag in the boot of my car, as for renting the car its a private deal, cash in hand thing, technicly i'm self employed but not yet regestered. all i want to do is clear my debts but i'm being forced in to something i don.t want to do. i dont want this to affect my ex or our baby.

[MelanieGiles]

Which is why I wonder if this is the very best thing for you! And do rememner that there is no thing as being technially self-employed - you either are or you aren't and if you are earning money from self-employment you must register with HMRC for tax purposes.

If you do not have the money available to clear your debts, then you cannot do this - and I would have thought that your new baby is more important than all of this, as you will be required to pay child maintenance presumably.

Read the blogs on this site from others who have gone bankrupt, to make you realise it is probably not as bad as you think.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[markus]

ok i am self employed in a sense. i dont have a business but i do pay my own tax etc, fortunatly my ex is a nice person, she's already promised to be fair to me and not make things difficult, all i want to do is do the right thing for the baby, i want to clear my debts myself, i've never aggreed with bankrupcy or anything like that. i want to pay off my debts at an amount i can afford. the legal company just won't let me. i owed them £300 origionally but they've put nearly £800 of fee's on there. after reading the b,a,s website by gill hankey i now know why they done it. you cant be made bankrupt by a company for less than £750 hence the high fee's and the threats. over the past 6 years or so i've cleared nearly £22000 of debt. i've got £16000 of debt left, i just want to be able to keep up with everything and not be bullyed in to something i don't want. just want to sort this out.

[MelanieGiles]

Is this your only creditor? If so, I am afraid that your destiny lies in their hands, and if they want you to be bankrupt they do not have to accept payments by instalment.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp