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| T O P I C R E V I E W |
| Elly |
Posted - 17 March 2011 : 22:30:07
Hello. I'm currently on a debt management programme, paying £200 per month. My bank statements from my old bank show that my payments from my debt management company are only ever clearing the interest..... so in effect these debts can never be cleared?! I'm pregnant with a much longed for baby, and whilst I had initially intended to go back to work, child care costs will ammount to more than I earn! The cost of my debt management payments is going to be a real struggle when my wages drop to statutory maternity pay. The house I live in is owned by my partner and his father, I am not on the mortgage. I have no real luxury items apart from a couple of battered musical instruments - however, these could be a way to make a living from home after baby arrives as I could teach again. More and more I am thinking that bankruptcy would seem to be a solution for me, and may stop my stream of sleepless nights...... however - would I still have high payments monthly even though I had been declared bankrupt?? Would the courts be able to touch my partner's house?? Would I lose my instruments?? Ideally, I'd just like a clean slate and a new start. The frustrating thing is that my debts were incurred at the hands of a calculating ex!! I'm driving myself mad with worry, please help?? Thank you very much indeed for any advice. |
| 3 L A T E S T R E P L I E S (Newest First) |
| fattypatty |
Posted - 04 April 2011 : 16:12:34
hi elly hope you are well would love to know what you decided to do. if you do go for br couldnt you leave instruments at your parents or a good friends just for your piece of mind theres nothing to say this couldnt be done before .
good luck x |
| Melanie.n |
Posted - 18 March 2011 : 17:56:38
Hello Elly and a warm welcome to the forum
Great news on the baby, you must be over the moon ! (my boys are 18 & 20 and i'd love to have had more, but sadly wasn't to be!)The new arrival is going to make a lot of changes not just for you personally but financially too, as such your income is going to probably reduce and as such perhaps bankruptcy should be something you consider, you have no assets,(I doubt the instruments would have a realisable value) no property in your name, so really nothing to lose, and i am sure with the worry of your debts gone, you can concentrate on you bump!
If i can help you further in any way, please post away. Melanie
Melanie Nicholas
30 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
telephone 01792 899996
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| glafy |
Posted - 18 March 2011 : 09:19:06
Morning Elly & welcome to the forum.
I am bumping this back up for one of the experts to see & advise.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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