Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By bellarama
#212616 I'll try and be brief. Considering bankrupcy.

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?
By gardener
#212713 I don't know enough about CCJs to answer you. The people who know seem to hang out mostly on the Debt Questions board so maybe you should ask there. I would say based on my own experience that once the bailiffs are in they don't care what belongs to who and it is down to you to prove it so you don't want to let them in or, if this is too difficult, you move anything you care about somewhere out of their reach (and doing so is not illegal so don't let them tell you otherwise).

I have sent you a p.m.
By johnny 73
#212720 first off, county court bailiffs can ONLY be instructed to collect a debt if the debtors defaults on the court order.

bailiffs do NOT have the right to force entry into a property to remove goods, despite wht they may suggest in their calls and letters.

do NOT let a bailiff into your property as once you do, you increase the powers they have as they will then be able to return and force entry to your property and remove goods. thus never let them in, keep your doors and windows closed, and tell anyone in your house not to let them in either. that way you avoid the bulk of your queries

bailiffs may take a car if they know you have one, so consider that - try parking it away from the house.

so, keep payin the court order you already have and the one your about to receive from the redetermination. if its set at too high a rate you can request it be reduced. therefore, you might not get to the bailiff stage and you're panicking a bit too soon

have a good read around this forum and you'll pick up good info.

some of the questions you have might be better placed in the general debt forum
By bellarama
#212738 thanks... just got the redetermination through for £40 per month when i asked for nearer £1...oh well will have to try and pay somehow.

thanks for bailiff advice. I'm trying to get family to help with bankruptcy fee