CathnPaul

with bankruptcy you have creditors meetings so it is 'all in' in the first place. Therefore, there is no need to chase anyone for debt because it has all been dealt with. The impact with Bankruptcy would only be when you come back to the uk. As a bankrupt all assets are assessed at the creditors meeting and therefore if you had the funds to pay back creditors through equity etc then that would have be taken prior to the order grant and if repaid through equity etc then the bankruptcy order would have been discharged.

If you have 'some' equity then you need to continue to provide the adequate funds to continue to pay creditors as agreed in the creditors meetings...but a variation order can be applied for through the courts.

However, if I am understanding 'now' what i think you mean...that when you are a bankrupt and the creditors meetings have happened and payments started to be made would they still chase you if you didnt pay them. A percentage of people are 'chased' but not all. It is a gamble of whether you stop paying. A bankruptcy order can be held/frozen against a person if they abscond too, that is a small percentage too.

Have I hit it yet for you dougggy??

CathnPaul

Good angle directing to CAB...if people are in debt though try not to promote CAB too much for helping people to deal with debt (not that you were but its mainly for those on here who need a little help -see below)...there are other free companies who do not charge for helping people in financial difficulties.

Plus to update you....not all Bankruptcys are cleared after 12 months...again there are exeptions to the rule. Whilst you have given a base reply there are other 'exceptions' you havent gone into detail about and therefore gives more of a 'satisfactory' answer to the OP rather than a true accurate picture.I did like your response though...i hope I have filled in the gaps.

With regards to 'debts being closed'...unfortunately they can be reactivated (again it can happen and isnt a sure thing of them being closed) I cant go into the criteria unfortunately but it depends on a lot of things.

If anyone is in financial difficulties and they feel they should really go bankrupt speak to the consumer credit counselling service or payplan first to try and avoid it...they are high profile organisations that dont charge to give you advice on financial matters.They can set up payment agreements with debt management plans and take an awful lot of pressure off and they can do it quick. They are more accessable the the citizens advice bureau for this particular matter and offer freephone telephone numbers.

Again I will say if anyone wants any further information regarding debt then please PM me and I will help point you in the right direction.

spalen

You clearly know a lot about it - I was just quoting from memory of helping someone through it. I think the most important line in my reply was not to get advice from a forum ;-)

CathnPaul

Morning Spalen... good memory you have...forums arent the right place...again I agree..thats why keep promoting my PM. Hopefully OP will have the answer they require now hopefully anyway.

the sun is shining

Hi Guys,
I am the lady left huge debt by my ex husband me being very silly and marrying at a very early age 17, during my marriage to my first husband everything went in my name dont ask me why but i think he had a motive .

My daughter was in hospital ill at great ormand street my husband worked full time with the stress of my daughters illness him at work all the time and the bills mounting up due to me not being able to work as i lived mostly at the hospital, we ended up splitting up.

I went to cab and they said the only way out is to declare myself bankrupt which i did we rented our house so had no fear of that being taken, however cars jewellery and any other assets that might be of value they take.

I was lucky as car i needed for hospital so i kept that and as for jewellery hey was cheap crap, what you do is you have to name every debt you have no matter how small it is and they contact them all on your behalf i went to court i was declared bankrupt and that was that.

I never had anyone knock on my door after that and the weight was lifted of my shoulders, i would never recommend declaring bankrupt however when i do see some ppl struggling if they have been left it and they then carry on for years struggling where as if they decided to go bankrupt under debts of 20,000 pound it is of your record after 2 years.

Then you have to get your certificate from the court to say its over and you still in some circumstances have to show this to i.e banks if you open a new one and for buying a house but i have done both of these since and i have never had to show it.