23 replies to this topic

[gemini17]

 

I've never been bankrupt and therefore have no knowledge of what happens, would I be wrong in thinking that you stay bankrupt till you have paid off all your debts?

 

If so then wouldn't claiming PPI then passing it on to the Official Receiver lessen your debt and get you free from bankruptcy sooner, or doesn't it work like that?

Hi

 

You stay in bankruptcy for approx 12months and then if you have stuck to the wishes of the court and not obtained debt above £500,you are then discharged.

Discharge stays on your file for 6 years.

In terms of claiming my PPI it would not have any impact on my previous debts-it just lines the pocket of the insolvency practice.

All the debts within the bankruptcy pretty much die the day you file for bankruptcy.

The only way they reignite is if you break a list of rules set out in your bankruptcy -eg you don't disclose income or capitol or you arrange finance above £500 without giving the bank or company prior knowledge of your bankruptcy.

It's a very straightforward process(well it was for me)

Would never have gone down that road if I had not become hooked on the dreaded slots!-But life's a lesson for learning.

I don't have overdrafts,credit cards etc now-I just have a basic bank account with no hassle attached and no debts to think about.

 

 

Jay

[I have finished]

Hi Chasnbons, thanks for your opinion, that's what I did, blocked their numbers. But this is not possible on a landline although we are already on the TPS which blocks unfriendly calls. To make you all laugh, me and my friend sarahheadinclouds70 who should still have an account on here came up with PPI standing for phone plugged in. It's a disease your iPhone gets when the battery's low! Oh no! My phone's got Phone Plugged In symptoms, battery 5 percent! Ha ha.

[chasnbons]

Hi

 

You stay in bankruptcy for approx 12months and then if you have stuck to the wishes of the court and not obtained debt above £500,you are then discharged.

Discharge stays on your file for 6 years.

In terms of claiming my PPI it would not have any impact on my previous debts-it just lines the pocket of the insolvency practice.

All the debts within the bankruptcy pretty much die the day you file for bankruptcy.

The only way they reignite is if you break a list of rules set out in your bankruptcy -eg you don't disclose income or capitol or you arrange finance above £500 without giving the bank or company prior knowledge of your bankruptcy.

It's a very straightforward process(well it was for me)

Would never have gone down that road if I had not become hooked on the dreaded slots!-But life's a lesson for learning.

I don't have overdrafts,credit cards etc now-I just have a basic bank account with no hassle attached and no debts to think about.

 

 

Jay

 

Thanks for the info (not that I intend going bankrupt lol)  I just wondered.

 

I have never done credit, if I can't afford something I either do without or try and save till I can afford it.

 

Failing that if I look REALLY sad, Steve might get me it lmao

[chasnbons]

Hi Chasnbons, thanks for your opinion, that's what I did, blocked their numbers. But this is not possible on a landline although we are already on the TPS which blocks unfriendly calls. To make you all laugh, me and my friend sarahheadinclouds70 who should still have an account on here came up with PPI standing for phone plugged in. It's a disease your iPhone gets when the battery's low! Oh no! My phone's got Phone Plugged In symptoms, battery 5 percent! Ha ha.

 

We can block numbers on out landline and it's not a fancy phone or anything, just a 3 handset Binatone one.

 

It lets you store up to 20 blocked numbers and if you go over it deletes the oldest one