Bankruptcy...

[Frodo69]

I'm beginning to think this is a viable option to me unless I can get a loan of £3000 in the next week. What exactly happens, all I know is your credit rating gets an absolute battering but short of going abroad forever I think it's my only option.

[thehawk]

It's probably not worth going bankrupt for £3000. Some more details?

[Eric Mc]

Getting loans to repay borrowings always seems like a slightly warped way of going about things.

[Frodo69]

I owe my landlord and a couple of friends just over £1000 and owe just over £4000 on a loan from Natwest. If I had £3000 I could sort it all out and put my sensible hat on but its a case of come up with the money on Monday or your homeless

[Graham]

surely you just need 1k to cover the landlord and mates, plus maybe the current payment on the 4k loan?

or have you defaulted on the 4k loan as well? if so your never going to get a loan..

got a credit card ?

[Road Pest]

Maybe stop buying expensive watches?

[Frodo69]

Indeed you are right Road Pest, I defaulted on the last payment and I wasn't paid at the end of last month which is why I'm currently in discussion with Barcalona HQ. Its all going very wrong any helpful suggestions ? My friends and family are a no go so aside from that please...

[Frodo69]

...and I don't have a credit card but I couldn't get one in 2 days...

[Road Pest]

Why weren't you paid?

[Eric Mc]

Who are Barcalona HQ?

[SS HSV]

IRC you need to be in debt over £20k before you can file for bancruptcy.

[tubbystu]

Road Pest said:

Maybe stop buying expensive watches?

Pawn shop if you have anything they value.......... it is what they are there for.

[Frodo69]

I was told as I switched to a temp (to reduce notice period as I was thinking of jumping ship) I wasn't entitled to commission I'd already earned. They told me to call the HQ of my work which is in Barcalona

[beanbag]

Frodo69 said:

...and I don't have a credit card but I couldn't get one in 2 days...

Erm......that is an extremely bad idea. CC's have the highest rates of interest and you'll just dig yourself a deeper pit if you throw your debt on that....not a good idea.

Surely there must be a way to sell off some of your assets on eBay, pawn shops, etc????

If you do indeed buy expensive watches, you should be able to flog a few of those quickly in a jeweller. Sure you'll get a bad price but then it's either that or bankruptcy. I know which my preference would be.

[chr15b]

Eric Mc said:

Who are Barcalona HQ?

think he's being careful not to name

think which financial institution has a hq in barcelona??

[Eric Mc]

I can guess who he means - although spelling it correctly might have been helpful.

[Chocolate Teapot]

May I direct the op to this thread: http://www.pistonheads.co.uk/gassing/topic.asp?h=0...

Edited by Chocolate Teapot on Saturday 8th November 14:34

[siscar]

Going bankrupt isn't going to make any difference to whether you are evicted.

[thehawk]

Well lets be pragmatic and assume that you have explored sensible options like talking to your landlord nicely.

Your landlord will have to potentially wait months before he can have you legally removed, it will cost him a great deal and he will have to find tenants. It's in his interests to be understanding, if he isn't just ignore him and call the police if he harasses you.

If you are going bankrupt I think it is potentially illegal to pay him anyway.

[Frodo69]

I'm a private tenant, I pay a friends father my rent.