I have 4 debts in my name taotalling approx £20k with one on the sideline that may occur (financial investment product) to one of the creditors for another£6k. 2 debts have ccj's 1 at a very low amount (under £5) the other currently in dispute/redetermination at over £6k. The other 2 debts are cards and they are using DCA.
1.Joint account which is overdrawn , now shut negotiated by my wife to be converted to loan.(a/c now closed)
2.All bills now in wife's name except my mobile. Separate bank accounts-done.
3. I have an old car which i travel 12 miles a day to work in. (worth £1500 max if that)
4. We moved the newer car to her name years ago before all this happened as I didn't need it anymore.
5. Asset wise - there is no house, we rent. We have usual things like furniture(nice quality) Kids have PS3 out of their birthday money. A few electronic goods (a 32" flat TV , Amp , DVD player, CD player, 5yr old camcorder, camera etc)
2 old PC's. Guitar, old set of golf clubs, old tools like drill , sander, grinder, jigsaw- all at least 4 yrs old for diy. Some old bikes.
Surfboards bought on my wifes credit card last year (she is not going bankrupt)
have spoken to CCCS and they advise bankrupcy although I can't afford the £500 yet.
What is the situation regarding bailiffs and the assets if the ccj that is under review goes to bailiffs? Does the creditor have to go to high court for bailiffs and debts over £5k? Will they go for my assets listed above? Do you have to prove who owns the assets or are they seen as joint unless proven otherwise?
Sorry I know there are a lot of questions but it worries me if the judge determines i have to pay the whole lot when I clearly do not have the income after contributing to the household bills. I understand it will be the creditor who decides whether to use bailiffs?