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[tigers_gonads]

oh well, after 18 years being self employed and spending the last 2 years slowly watching it all fall apart, it looks like i have no choice but to sign on the dole next week and then file for bankruptcy 

has anybody on here been bankrupt ?

any advise / tips greatfully accepted 

cheers  steve

[Del Boy]

Really sorry to hear mate 

[ScottieMV6]

Sorry to hear that Steve.

Not done it myself so can't offer advice. Is there no other way round it? IVA or something?  :-/

[Mr Skrunts]

Sad news matey.  I would certainly try other options rather then bankrupsy as I believe creditors can send in the bailiffs for your goods in some cases.

Total your debts up and create a list and have a chat with some of the debt management companies (The free ones)  There may be more than one option out there for you.

What ever direction you take, be thoughtfull and do your home work.  In most cases advice is free

One company a friend dealt with was CCCS (might be better emailing them as I heard the phone's are allways busy)

http://www.cccs.co.uk/

http://www.google.co.uk/search?hl=en&q=Free+Debt+Advice+&btnG=Search&meta=


All the best matey.

[Lizzie_Zoom]

Very sorry to hear that Steve

I very nearly went bankrupt a few years back, but managed to avoid it.

However, I recommend you go to your local Citizens Advice Bureau who helped me greatly when I was in some financial difficulties after my marriage break up, and in fact were very keen to recommend the bankruptcy route to me.  But, as I say I avoided that as a) it costs (£350 I think?) and b) it will affect your credit rating for a long time afterwards.

By avoiding bankruptcy and coming to "an arrangement" with your creditors has meant I am now fully credit worthy again! 8-) 8-) 8-) 8-) 8-)

[tigers_gonads]

Sad news matey.  I would certainly try other options rather then bankrupsy as I believe creditors can send in the bailiffs for your goods in some cases.

Total your debts up and create a list and have a chat with some of the debt management companies (The free ones)  There may be more than one option out there for you.

What ever direction you take, be thoughtfull and do your home work.  In most cases advice is free

One company a friend dealt with was CCCS (might be better emailing them as I heard the phone's are allways busy)

http://www.cccs.co.uk/

http://www.google.co.uk/search?hl=en&q=Free+Debt+Advice+&btnG=Search&meta=


All the best matey.

cheers lads,   

on the good side.

live in a council house and the house is in our lasses name not mine. 
cars worth 500 quid tops ( been told unless its valued over 1500 quid then the reciever wont be interested )
i've no property, or investments.
so i've got my tools ( which i'll need to work ) and my clothes. 

on the bad side.

i've not kept upto date with my stamp contributions so it looks like i won't get dole 

been told that our lass can claim tax credits in her name because the lads still only 13 
and i'm working on the idea that that the court can't take what i havent got !!

ok, 90% of the contents of the house was payed for by me ( in cash ) but seen the house is in her name and as far as the courts can tell, all the property is hers 

[tigers_gonads]

Very sorry to hear that Steve

I very nearly went bankrupt a few years back, but managed to avoid it.

However, I recommend you go to your local Citizens Advice Bureau who helped me greatly when I was in some financial difficulties after my marriage break up, and in fact were very keen to recommend the bankruptcy route to me.  But, as I say I avoided that as a) it costs (£350 I think?) and b) it will affect your credit rating for a long time afterwards.

By avoiding bankruptcy and coming to "an arrangement" with your creditors has meant I am now fully credit worthy again! 8-) 8-) 8-) 8-) 8-)

i type slowly 
cheers liz

[zirk]

oh well, after 18 years being self employed and spending the last 2 years slowly watching it all fall apart, it looks like i have no choice but to sign on the dole next week and then file for bankruptcy 

has anybody on here been bankrupt ?

any advise / tips greatfully accepted 

cheers  steve

Ive been there, back in 2000, its not funny. and it came back to haunt me a few years later when my Mother died (Assets).

I had no choice, was contracting to a large Telecoms Company who went into Administration overnight. The money they owed me was a lot for me and my livelyhood but was peanuts compared to Nokia and Motorola so I didn't get a look in.

I happen to know a bit abouts this Steve, if your intrested PM me and I'll give you my Mobile number if you want to have a chat about it. 

[Mr Skrunts]

cheers lads,   

on the good side.

live in a council house and the house is in our lasses name not mine. 
cars worth 500 quid tops ( been told unless its valued over 1500 quid then the reciever wont be interested )
i've no property, or investments.
so i've got my tools ( which i'll need to work ) and my clothes. 

on the bad side.

i've not kept upto date with my stamp contributions so it looks like i won't get dole    Load of cobblers, they have to pay you something to live on, allthough if your partner s working that may make a difference.

been told that our lass can claim tax credits in her name because the lads still only 13 
and i'm working on the idea that that the court can't take what i havent got !!  Court wont take tools of your trade and I believe the baliffs if involved are not allowed to.

ok, 90% of the contents of the house was payed for by me ( in cash ) but seen the house is in her name and as far as the courts can tell, all the property is hers 

Have a nosey arround here, if the benefit is not listed it may well link you to a page that will help.

edit, adding the link helps    http://www.dwp.gov.uk/lifeevent/benefits/atoz.asp

[Entwood]

Under present rules it is MANDATORY to take specialist advice before filing for bankruptcy.

Citizens Advice have the relevant specialists, contact them ASAP.

Good luck .... :-/ :-/ :-/

[ScottieMV6]

You might also find these people helpful http://www.nationaldebtline.co.uk/

I don't trust my local CAB - never have. Just my opinion of my local CAB though!

[tigers_gonads]

thanks too you all for all the idea's / advise. 

i will look into all the advise over the next couple of days and will pm / ring some of you about this 

i've had my head up my arse for a good 6 months now over this 
spoke to the bank manager 2 weeks ago and asked about extending the overdraft .
he said "computer said no" ......... so i cancelled all my direct debits and asked him how am i supposed to pay my business loan ?
he looked me in the eye and said " from the banks point of view, if you go bankrupt then we claim on the loan insurance and recieve most of the outstanding amount back in one lump sum "   complete and utter wa*ker 

i walked out before i lost it and ended up in the cells 

thats lloyds tsb for you 

any chance of regular money coming in has gone because the work is just not there at the moment ( caravan / porta cabin / housing  industry has totally gone in the last year so the public round hear are teriffied to spend any money  so i think thats a court approved admin order out of the window 
the only work i have is off a landlord who is based in the midlands.  where its good money, it takes 2 - 3 months to get paid ( even though i can demand it in 30 days, once you do that, he never rings you again  )
sadly after the floods 2 years ago, alot of sparkys went self employed and made a bit of a killing on the insurance work 
12 months later ( this time last year ), the work has gone and they all went back to there old employers to ask for ther old jobs back to be told "p*ss off"  ( this was the start of the economic shit thats happening now) 

hence they must be 200 sparkys in this town begging for work 

[Bacon Butty Man]

bankruptsy can be sorted in 12 months if the debt is 15000 or under, over that it lasts 3 years (maybe 6), an IVA is a baaaad option, that can affect you for 12 years. there are new rules a better place for info is here,
http://www.consumeractiongroup.co.uk/forum/#black-consumer-forums-center

[tigers_gonads]

bankruptsy can be sorted in 12 months if the debt is 15000 or under, over that it lasts 3 years (maybe 6), an IVA is a baaaad option, that can affect you for 12 years. there are new rules a better place for info is here,
http://www.consumeractiongroup.co.uk/forum/#black-consumer-forums-center

yeh, thats what i was thinking 

just been told of a mate that if your on the dole, it costs you nothing nowdays 
if your working, it costs you 500 quid 

and the best bit .................. once the court has been satisfied and finished with you and providing you don't work for 6 months then the court will discharge you 


all this happened to him last year......... cheque bounced ............ bank called in his loan .......... and bobs your auntie ......... he pays 500 quid ( he's still working ).......going threw the procedure now 

he sold his 2 of his 3 cars to his daughter and brother

50 quid each 

morgage company said you have always payed your morgage and your house is well into negative equity so keep it 

tax man says yes you owe use money but if we stop you working then we will never get it 

he is looking to be discharged in about 1 year 

[amigov6]

Hi. Not too far from you. Being as you don't own your house & have no high value assets, if you're really up against the wall it might be the best way to go mate.
    Sorry to hear things have got so bad, all the best, Guy.