All Forums  archive  bankruptcy postbag for august  What do you think of this?

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by Trolly-Dolly[/i] [br]Just going over our SOAs (again) and this is what I have put for our reasons of getting into debt: "My debts are a combination of personal circumstances changing and not budgeting correctly to reflect our income. Since June 2005 we have had 2 babies which has resulted to two lots of maternity leave at £100pw. I was not comfortable with returning to work too early as I work as a long-haul air-hostess and did not want to be away from babies 3 nights at a time. My husbands work has been temperamental. He works as a labourer in the construction industry and on the train tracks and many companies he has worked for have folded with little or no warning. Despite this we continued to borrow just so that we could cope with day to day living expenses, in the hope that when I return to work things will get better and we will be able to pay. It was only when our credit ran out (not the catalogues, the credit cards) and when the 0% interest deals ended, that we realised we had a problem. We had very little money to live on let alone pay our creditors. Our plan was always to remortgage should we hit difficulties; however we could not remortgage as there was no equity and we tried to take out 3 secured loans, but failed. We then looked at an IVA, but one month in it was clear that we could not afford one. This was when (with the advice and help of Melanie Giles, IP) that we realised that we were now technically insolvent even with my return to work. A combination of being first time buyers in Dec 2005 and starting a family at the same time. had caused us to enter a debt spiral that for the first time we were unable to fix. Ironically we have very little to show for our debt as the borrowing was for living expenses (food, petrol, baby items) and not for extravagant holidays or purchases." Any bits I should change? You can read my blog here; http://drowningmummy.blogs.iva.co.uk/ [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.