Well I posted on here several months ago about doing a full and final as took a drop in wages. Well they rejected twice so its BR here I come. All seems such a waste after all the pain, wish now id bit the bullet back then and went the BR route, aww well
Sorry to read this - be interested to see the reasons why creditors turned down the F&F. I would certainly want to understand this and would want to work with my IP to see if anything can be suggested - bankruptcy maybe the route you land up taking, but at least you will know that you have made every attempt possible to pay your creditors back.
Best wishes.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
That is disappointing to read toolbox - I agree with the others - find out exactly why it was rejected as if your payments had to decrease due to a change in income then a full and final sounds like it could have been a better offer. Sometimes it is how these things are proposed now the content of them but I am sure your company did the best they could for you.
If your disposable income now is more than £20 you will need to make a monthly payment to your bankruptcy of whatever it is for a period of 3 years and the bankruptcy will be on your credit file for 6 years from when it starts. It would be a shame for you to be set back like this. Explore all your options, even seeing if another company can get a better result for you as that is sometimes possible, but only when you have tried everything you can with your current company.
Keep us posted
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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The votes went 60% for and 40% against. Because the house which I voluntarily repossessed was not included (they hadn't given a final figure after several months for inclusion) the voters were from the original creditors. Would have preferred not to have gone the BR route but such is life
