Thinking of going Bankrupt

[pompeyfaith]

Re: Thinking of going Bunkrupt

Yes that is what I thought I have no CCJ on this debt as I entered a payment arrangement

[pompeyfaith]

Re: Thinking of going Bunkrupt

Does anyone know if councils still do buyback mortgage rescue? as that could release the equity

[TibetanMonk]

Re: Thinking of going Bunkrupt

Also; I was under the impression that an AOE can ONLY follow if you do not pay the CCJ.... Surely an AOE would be a last resort considering it would affect your wifes ability to work, thus forcing you into unemployment, which then would only cause more time inbetween you paying and the debt being settled..

[TibetanMonk]

Re: Thinking of going Bunkrupt

Can you not do a DRO? Sorry if you can't, I don't know much, but don't like to see other people stressing. Hope you get this sorted!

If you have a joint mortgage then the official receiver or insolvency practitioner will want your share of the equity.

[pompeyfaith]

Right this morning I have received an attachment of earnings letter from the local courts in favour of hillesden this was for a debt I had a payment arrangement on of £10 monthly.

This court letter has been sent to both me and my wife and we have to attend a hearing on the 2nd June 2014 now I want to fight this on the grounds that such an attachment could affect my wife part time job as she is customer facing in the co-op and thus handles money and could affect he job prospects and lead to the sack.

However now I am totally stressed out with this all and my other debts and can see now way out except bankruptcy as we are not eating properly as it is and thus not meeting my dietary requirements due to the SAH I had.

Now is bankrupcy an option bearing in mind I own my home and have about 60% equity? would the receivers force a sale and if so how would that affect my wife and mum in law who have a 3rd stake in the property.

My mum in law has Alzheimer's and we care for her as she is bed bound.

I Just want a way out now as had enough of the harrasment btw this debt does not have a CCJ so how can they get an AOE?

The reason the payment arrangement stopped is because over the last year we have taken a big dent in income with loss of tax credits my wife no longer gets working tax credits as she had to up here hours due to loss of child tax credits and in turn lost carers allowance as well plus DWP stopped my ESA which I am fighting but it all as you know takes time.

We now have just my wifes earnings of about £600 a month and my DLA middle rate of £212 that is it until I can get my ESA reinstated but do hold much hope of that as DWP are intent in breaking the law and thus is in the hands of a solicitor.

As you can see it is a right mess and really would like to force a creditor to bankrupt me.

Thank you any advice greatly received.