martinvebber's articles tagged "Financeblog" - martinvebber

Bailiffs and the Law

A bailiff is a person who is authorised to collect a debt to the organisation/court/person to who the debt is owed. There are different types of bailiffs and some have more powers than others.

There are different kinds of bailiff -
- civilian enforcement officers (CEOs)(employed by the magistrates courts to enforce magistrates's courts orders such as fines)
- county court bailiffs (employed by Her Majesty court service to enforce county court judgments)
- certificated bailiffs (employed by organisations such as local authorities to levy distress for rent, council tax and road traffic debts)
- non-certificated bailiff (can recover money for a variety of debts but not council tax, road traffic debt, county court orders or levy distress for rent)
- enforcement officers (employed by the High court to enforce High court orders)

A bailiff must have some legal authority before he/she can collect the debt from you.That authority will be in the form of a warrant, warrant for execution, distress warrant, liability order.Before speaking to a bailiff ask for identification and proof of the authority.If the paperwork the bailiffs have does not relate to you or anyone living in the house then you should give the bailiffs proof of your identity (through the letterbox if you do not want to open the door).

Bailiffs, Bailiffs help, Bailiffs guide, Bailiffs and law, Law of Bailiff, creditor, county court, Bankruptcy-insolvency, Financeblog

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#Posted on Sunday, 23 December 2012 at 10:43 PM

Advantages of Bankruptcy

Bankruptcy is a formal court procedure which you can start or which one or more of your creditors owed at least £750 can start. Your assets (with certain exceptions) are sold to help pay your creditors. However, you can usually keep your personal belongings, the contents of your home and your tools of trade (which may include your car) unless they have a high value. I search financial blog for advice and read on - Pros and Cons of an IVA.

If you have surplus income after meeting your essential household and personal expenses, you will have to make payments out of your income for up to 3 years.

Your assets and income are dealt with by a licensed and regulated insolvency practitioner or by a government official called the official receiver. Bankruptcy usually lasts for 1 year, and once you have been freed (discharged) from your bankruptcy, you are released from your debts (with certain exceptions).

• Debts are written off, with certain exceptions applying
• Creditors can't take further action unless the debts are secured on your home or other property.
• It allows you to make a fresh start after only a year.
• You may be able to avoid having to sell your home if your spouse, partner or a relative can buy your share of its value after debts secured on it have been paid.

Advantages, Bankruptcy, Finance, Insolvency, Pros & cons, IVA, debt, debt value, Bankruptcy Advantages, Money Advice Direct, Bankruptcy-Insolvency, Financeblog

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#Posted on Saturday, 22 December 2012 at 12:54 AM

Bankruptcy in UK

What is Bankruptcy?
Bankruptcy is one way of dealing with debts that you cannot pay. Bankruptcy proceedings eventually free you from overwhelming debts, however any assets that you have may be sold and the proceeds shared amongst your creditors. Bankruptcy lasts for twelve months, after which time you can make a fresh start.

Bankruptcy in UK

What are the effects of Bankruptcy?
- You will have to report to the Official Receiver and provide him with details of your financial affairs
- The Official Receiver will effectively own all your assets and look to realise their value for the benefit of creditors
- You will usually have to close your bank account
- You are unable to obtain credit exceeding £500 without disclosing your bankruptcy
- The Bankruptcy Order is registered with credit reference agencies for at least six years
- Your employment may be affected depending upon what job you do
- You cannot be a company director or hold public office

What are the alternatives to Bankruptcy?

- Individual Voluntary Arrangements
- Debt Management Plans Final Settlements

Financeblog, Bankruptcy, Bankruptcy-insolvency, Money Advice Direct, IVA, Benefits of creditor

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#Posted on Thursday, 20 December 2012 at 1:14 AM

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Bailiffs and the Law

Comment Don't forget that insults, racism, etc. are forbidden by Skyrock's 'General Terms of Use' and that you can be identified by your IP address (54.224.44.168) if someone makes a complaint.

Advantages of Bankruptcy

Comment Don't forget that insults, racism, etc. are forbidden by Skyrock's 'General Terms of Use' and that you can be identified by your IP address (54.224.44.168) if someone makes a complaint.

Bankruptcy in UK

Comment Don't forget that insults, racism, etc. are forbidden by Skyrock's 'General Terms of Use' and that you can be identified by your IP address (54.224.44.168) if someone makes a complaint.

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