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Bankruptcy

Nellyk_84
3: Seeker

Hey people, I'm trying to find out what's likely to happen with my mobile, broadband and landlines contract if I were to go bankrupt. Unfortunately, Covid has hit me hard financially so this could be a very real option. My Voda account is completely up to date, so not something I need to include in a bankruptcy but not sure how Voda would proceed with me in these circumstances. 

 

Any advice?

Thanks

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5 REPLIES 5
BandOfBrothers
17: Community Champion

An awful situation to be in and I feel for.you and the many now finding themselves in this predicament in these unprecedented uncertain times.

One piece if good advice I was given years ago was to discuss my problems with someone and don't bottle it inside so i now pay forward this advice to you.

You would need to check the terms of your intended route @Nellyk_84 but my thoughts are Vodafone wouldn't need to get involved or treat you differently unless you handled your account poorly i.e not paid or paid late etc or was part of your intended route.

You could check with them if your at or near the end of your contract about a sim only etc to reduce your monthly tariff if that helps.

Just in case you need these …

What-should-I-do-if-I-can-t-pay-my-bill. 

and

Financial-difficulties 

There is Bankruptcy citizensadvice.org.uk/debt-and-money/debt-solutions/bankruptcy-2 you can consider or alternatively their is an IVA citizensadvice.org.uk/debt-and-money/debt-solutions/individual-voluntary-arrangements/individual-vol... 

There are also good free debt advice people that you can talk to.

Also try speaking with the companies you have debt outstanding.

Bankruptcy has it's Pro's and Con's but isn't always the best route.

Be aware this would probably have a negative impact on your Credit Rating too.

I wish you all the best with this. 

Current Phone > Samsung Note 20 Ultra 5G - SM9860 Snapdragon.

Samsung One Ui 3.0  / Android 11.

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AnnS
17: Community Champion

Hi @Nellyk_84 

 

Totally sympathise with you for a dreadful situation.

 

As an alternative to bankruptcy, an IVA might be worth considering here: Experian 

 

If bankrutcy is the only solution , it still needs to be reported to Vodafone, please see this link from Vodafone: How do I report bankruptcy 

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Nellyk_84
3: Seeker

Thank you so far. I've already been through all the options with 2 independent advisors and as I don't own my own home and I don't want to be paying into something for the next 5 years, bankruptcy is the best option for me. They both stay on your credit profile and IVAs were presominatly set up for people that owned their own homes/assets, as an alternative to bankruptcy. Its actually far less intrusive than an IVA so I'm good on that side. 

 

The only info I've found is that one that say to email the insolvency team on Vodafone help but that doesn't tell you whether you can keep your contract or anything, its vaguer than vague lol

 

Thanks

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AnnS
17: Community Champion

Yes @Nellyk_84  it is vague and doesn't give much information.

 

I would speak to the  Social Team throgh Twitter/Facebook channels here:  Contact Us They will be able to put you in contact with the Credit Team and they should be able to give you all the information you need.

 

Good luck with this.

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hrym
17: Community Champion

I think I'd be inclined to take independent advice first.  If you discuss it with anyone offering you credit, it's likely to go on your file and could potentially cause you problems in future even if you decided not to go down that route.

As I understand it with bankruptcy, you can't get credit, so I assume your mobile would have to go onto PAYG (make sure you can keep your number).   However, I'm not sure how it works with landline broadband.   As it's pretty much an essential service these days, I'd like to think there's a pre-pay option there as well.   Your situation isn't unique, so I'm sure there's plenty of precedent which somewhere like Citizens Advice would know about.

I wish you well in all this too.

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