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| T O P I C R E V I E W |
| pink-a-boo |
Posted - 10 October 2008 : 12:34:36
After reading various posts on here, i am worried sick about how severe br really is and what could happen to me, in regards to how the or will look into how the debt has accrued and my conduct. what concerns me the most is that i was using my credit cards and store cards in feb/mar this year buying things such as clothes, even though i was off work sick. but whilst i was spending i didnt realise i would be going br and also had every intention of returning to work full time - of which i have been unable to do due to my health. so subsequently i was never able to pay back anything from that time. and i was suffering stress and depression and i know myself my spending was uncalled for, but i couldnt help it as it was the only thing that made me feel good. im just scared now that i will get into serious trouble, because i didnt even make token payments, i just hid from it, and it was only when i spoke to cccs last week they said br is going to be the best option for me. until feb/mar time i had always paid everything, but my storecards had a nil balance at that time then i ran it up as had paid them off when got a refinance loan last year. but i have always had a shopping problem of which is one of the reasons i am in a financial mess now. but before i have always been in denial about it due to always being able to meet repayments. i am now being referred to see a counsellor about this problem, but am just so scared that when i do go bankrupt i will get into serious trouble off or. can anyone help??? |
| 13 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 11 October 2008 : 16:23:57
Hi VW
Take things one step at a time and cross that bridge when and if you come to it, there is no good worrying about things that may not be.
LOL
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| Almost there |
Posted - 11 October 2008 : 15:09:19
Thanks Jo, I think so many of us have fallen into the same trap, I know I definetly have and my only worry is being had for fraud, as I have had to replace so many items in the house this year, even doing it all on a budget has still made the debts swell and I am so scared that the OR will question this, but like you say, what is done is done. We just have to go forward. Don't want to land in jail though, my son is getting married next year and I can't miss that!!! |
| Needafriend |
Posted - 11 October 2008 : 09:04:00
Hi Veryworried and Peek a Boo
I too know that i never want credit again, but i can sympathise on where you two have come from with your own debt worries.
I hope that no matter what that you get through this with ease and that you like me have learned a very hard yet valuble lesson.
We all have our reasons and honesty is the best policy when it comes to the OR interview and filling in the SoA.
Whats done is done you cant turn back the clock, you can only move forward and that is what we all have to do.
My debts racked up as i wanted a better home for us and a better car, but now i have NO car, and our home is not technically ours anymore so what we did may come back and bite us hard, but i know that material things mean nothing, my family mean everything to me and that is what im working towards now a better life for me and my family but this time "DEBTFREE".
Best of luck both of you.
LOL
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| Almost there |
Posted - 11 October 2008 : 08:22:49
I know exactly what you mean. I had a consolidation loan in July, am making the 1st payment in Nov, (I have to make 3 payments before going bankrupt), silly thing to do, but I paid off a credit card with it after which they increased my credit limit by another £2000. After I make myself BR I never want anything to do with credit again. Keep posting, it has certainly helped me since I found this site. x |
| Almost there |
Posted - 10 October 2008 : 18:17:04
I can really relate to this one pink-a-boo, (love the name)! I ran up my cards a couple of years ago on clothes etc. etc. the labels were left on some of them for ages, it happened after my partner died. I felt so bad and like you, shopping was a comfort and made me feel better, so I understand where you are coming from. It is good that you are getting some help, maybe I should do the same. My debts have built up due to many things going wrong in the house like gas fires, cookers, that sort of thing, most of which has happened this year, if I hadn't spent all that money on clothes and frivolous things a couple of years ago I probably would have been OK as I have had to add bigger purchases to them this year, still hindsight is a wonderful thing as they say. It is good to know that other people are in the same boat and that you are not alone. I plan on going BR in Jan. Good luck with yours. Have you stopped spending on the cards now? Sandie
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| pix1 |
Posted - 10 October 2008 : 14:24:36
Hello,
try not to worry too much. it is likely trhings will work out ok. of course, there are risks in Br but, like others have said, we all have to run them.
the car? put down the retail rpice of the car. a rough figure will do. you can own a car up to £2500 before the OR will try to sell it. you may need to show you need it, though, even if it is less than £2500.
other spending? resolve not to spend anything on anything other than essential items (see insolvency service website for list of essentail and non essential expenditures) in this period leading up to BR.
yes, you could get a restrictions order for £2-3000 of spending or you might not get one for £50000 of spending. it is all hit and miss. i believe that only 2% of bankrupts are receiving bro/bru's on latest figures, so that may be some comfort.
just be upfront, apologetic and cooperative and this will get you a long way with the OR.
of course, you need to check isseus such as house/mortgage or assets (incl. car) before going ahead. |
| Needafriend |
Posted - 10 October 2008 : 13:48:36
Hi PAB
I dont know which she would look at but i wouls say the lower which is prob the best to put.
Hope that helps
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| pink-a-boo |
Posted - 10 October 2008 : 13:45:42
thanks jo - have just looked on value my car and just wanted to ask you if you know which value the or classes as the value of your car, is it the trade value or retail?? |
| Needafriend |
Posted - 10 October 2008 : 13:32:43
Hi PAB
I would have a look at my blog there is a piece on valuing your car and they are free.
As i said before its better for one of the other experts to advise really as i cant see it being that bad but i am just learning.
Good luck
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| pink-a-boo |
Posted - 10 October 2008 : 13:30:25
well in total with interest and all the charges they have put on altogether i owe about £50k!!! all unsecured debt. i have no assets apart from a car, which is prob worth about £3k (or maybe less if they go off auction value - do u know how i find out?) my car is needed as i am also now carer for my mum who is disabled so i have to be able to get to her house frequently. but the debt that was run up in feb/mar time on cards is about £3k altogether i think - but i also had a catalogue, of which i ordered things on a buy now pay later, payments not due until next feb - but when i ordered i had every intention of being able to pay back next year, but wont be able to now, due to not being able to return to working full time. |
| Needafriend |
Posted - 10 October 2008 : 13:21:15
Hi i dont think it will be classed as fraud, as like me i had things on my catalogues added in feb.
If the OR queries it then i think the worst case would be a BRU/BRO.
How much are we talking about and also you said you made no payments at all back since adding them on.
Maybe John or one of the others can give there prof view on it i worry when i answer some questions as i put how i see it but im not a prof like them and they def know there stuff.
I dont want to give wrong info.
LOL
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| pink-a-boo |
Posted - 10 October 2008 : 13:17:30
i was just so worried they would class that as fraud - but it wasnt a new account, they were cards i have had for years, but i had paid them off then ran them up again, and have just not paid them since. i am just so worried and scared that i could end up in prison. |
| Needafriend |
Posted - 10 October 2008 : 13:02:47
Hi Peekaboo
Just be honest with the OR you have done nothing really any different to the many on here including myself.
The ORs are not ogres and they are they to clrify info and put your case together, dont be scared even if they did give you a BRU its not the end of the world, think if it like a slapped wrist.
You knew you wanted to go back to work but could not and you had to live.
Try not to worry its not as bad as you think.
Well i don think it is :-)
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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