bailiffs

[goldheart]

Is it true that you do not have to identify yourself to anyone other than a court official or police officer?

This is with regards to getting bailiffs/creditors at the door... and until they can positively identify you there is nothing you can do? What are their legal rights?

Also, can anyone tell me what the downside to being listed as bankrupt is - a few people tell me it is quite a good option to take if you are seriously in debt and this can be cleared after a year.

Thanks!

[Oneeyedvic]

Whilst you will be out of bankruptcy in one year (which means you cannot have any credit and depends on certain things) under the Enterprise Act, it will remain in your credit file for 6 years. It will be almost impossible for you to get credit from any 'sensible' source.

Not sure about the identity thing though - strikes me that if you are being difficult you are only postponing the inevitable!

[goldheart]

Thanks oneeyediv, helpful and honest answers.

Am struggling very much with all the bills each month with one income, not a bad income but by the time rent, council tax, food, electric, water  etc are paid there is hardling anything left for creditors and cannot save a penny - no room for having babies either!! Bailiffs letters, red letters, court letters, you name it - tried paying them each month but have got so behind, have bad credit and wont be able to clear it for years and years... not just looking for an easy way out, but for the best way out and wondered about bankruptcy. It will be on my file for 6 years, but at this rate my bad credit is just getting worse (or seems to be) and that too will be on account for 6 years!

Also, I have been registered as default etc with experian/equifax for not regularly paying a credit card �3k - I used to pay regularly but have fallen behind. however, how long do they show me in their records? What I mean is, do they renew/update the records - therefore after 6 years my file will still be showing them as a bad debt or it will be as long as I dont pay them? I have default shown on my credit file with them from 3 years ago - so in 3 years time will this be wiped because the 6 years is up? Confused so all help (and yes, sarcastic answers) will be read, but not necessarily appreciated!!

[Miss Zippy]

Sorry to hear you're in a bit of financial muddle. Have you thought about seeing a debt counsellor?  It will cost you nothing to see one and they will be able to look at your situation objectively and help you manage your debt and explore all your options with you. It�s not just a one off visit either, they will be around to help you for as long as you need them, either for face to face visits or at the end of the �phone.  Your local Citizens Advice Bureau will be able to put you in touch with someone. Good luck.

[Oneeyedvic]

Honest answer - go to your local CAB (or similar organisation) and see a debt councellor. They will be able to help. Take your pay slips and bank statements with you. Be open and honest. Take all the bills that you know of that are in default (make sure you have up to date copies of your credit reports too).

It is good that you recognise that you have a problem but by being benkrupt will mean you will find it difficult to get things like a landline phone or even electricity without a prepayment card if you move.

Take advantage of any free services like above. Do NOT go to a credit repair agency, and Do NOT go to a loan shark or similar.

I am afraid it is a case of get rid of all your luxury items including cigarettes if you smoke and alcohol if you drink.

I think that Experian and Equifax will keep it on their records for 6 years from date of default (but will be marked satisfied if paid).

Please don't get me wrong, I have been in terrible debt before and have two (satisfied) defaults from 4 years ago on my searches. It is not easy but you have to be positive and give up a lot of luxuries too

[Oneeyedvic]

Double posting - thanks Miss Zippy - great minds think alike!

[goldheart]

Thanks guys... need to see a counsellor I think.

I still have my platinum bank account with lloyds, although in debt I didnt really go overdrawn with them, maybe just �100 or so overdrawn a few times but nothing to cause my account to be degraded.  I still get my salary etc paid and in their eyes my account is ok I suppose!

The electric is paid on the key anyway so always fill this up when I get paid and pay the phone bill first so not in trouble with them. I am used to not having any credit so I think bankkruptcy may not affect me for a while if I got it because I have what I need?? Like as you say, just maybe in years to come it could haunt me?

Anyway, thanks again!

[Miss Zippy]

That they do Oneeyedvic :o) Goldheart, bankruptcy will have many repercussions and will mean that you will only be able to borrow money (e.g. loan, mortgage) in the 6 years following your bankruptcy  from �sub prime� lenders (companies who specialise in lending to higher risk borrowers); they much much more than average high street lenders and usually come down on you much tougher at the merest hint of default. It could even affect your job prospects if you are in a line of work where you have an element of financial responsibility or work in a regulated sector (e.g. financial services). I think you will find a debt counsellor will help you see the wood for the trees (or whatever that saying is).

[Miss Zippy]

Sub prime lenders *charge* more.