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| T O P I C R E V I E W |
| leighj12 |
Posted - 28 October 2008 : 16:17:02
hi all. on monday i have my court date for br...i owe about £51,000 2 credit cards,car,hp...i'm told thats a low figure!! if i ask a straight question,can some1 try to answer please. i have suffered from depresion 4 over 10yrs now..its not nice and you try and deal with it the best you can...2005 went thru a divorce..kept the house but had 2 remorgage it..but in a way gave up on life..2007 met a new partner,sold the house to move in together..in a nut shell she played me and my money..have built up a lot of debts..tried to run my own business and raise 2 kids..i now know i've failed..big time!
i have kept very little records for the business and worry wot the tax man will do to me...yep, i've made my bed...last week my mum offered 2 help,rang all my creditors 2 offer them 50% of what i owe..they all declined....no job,live in rented,no business records..suicide sounds like a tempting way out right now...wots the worst that could happen? |
| 11 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 28 October 2008 : 22:25:37
Hi leigh
I hope that things start to sort themselves out and soon for you.
We are all here no matter what, please just keep posting and we will be there for you :-)
Take care
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| leighj12 |
Posted - 28 October 2008 : 21:54:08
thanx paul. |
| Reviva UK |
Posted - 28 October 2008 : 21:46:46
It is at difficult times that you start to know who your friends are.
You need to sort yourself out first so that you can then move on with the rest of your life.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK
www.revivauk.com |
| leighj12 |
Posted - 28 October 2008 : 21:37:59
oh...just so all you nice people know( not being sarcastic) it does get worse....my fiance has just left me...cos i cant pay for her dream wedding...oh well,think kazy1 woz rite...only way is up |
| Reviva UK |
Posted - 28 October 2008 : 21:00:05
Hi leigh
I know you have had some help from your mom re the debts but if you are extremely keen not to go Br then an expert may well have a very different outcome if 50% were offered.
recently i was approached by a gentleman with £122,000 of debt and after a short while we managed to achieve debt freedom for £45,000.
Just a thought as there are usually several options for every situation.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK
www.revivauk.com |
| John |
Posted - 28 October 2008 : 20:52:26
Hi
re the tax scenario
If you declare bankruptcy any tax falling due prior to that date will be written off.
However, you will most likely be given a BRU due to not keeping proper business accounts.
A BRU is nothing to fear, it just means that certain restrictions of bankruptcy will stay with you for longer than the normal 12 months. I couldn't estimate how long for but it would be some years. This means you cannot be a director of a limited company, an MP, a barrister, a solicitor with your own practise, an estate agent with your own agency or a church warden.
You also cannot attempt to borrow more than £500 without disclosing to the prospective lender that you are bankrupt or under restriction of bankruptcy.
As for the car, if someone else is financing it then it belongs to them. If they allow you to use it there's nothing the powers that be can do about it.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
| Needafriend |
Posted - 28 October 2008 : 20:27:06
Hi Leigh
I dont think there would be a limit as such but and i stress this the car must remain in the other persons name until discharge.
They should really insure it and you must not take it on offically till the discharge is done.
Also you say they are buying it then after discharge it would be a gift to you, but a little logic to know that a cat say £1500 may be ok anything too much higher you may get anyway with as long as your not taking on any agreements in someone elses name.
Hope that helps.
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
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| leighj12 |
Posted - 28 October 2008 : 18:59:44
can any1 answer this question...when bancrupt, if my parents or friends offered to buy a car for me..can they?...and is there a limit on what they can spend even if the car remains in their name?? |
| leighj12 |
Posted - 28 October 2008 : 18:31:56
thanxs Nat & kazy1....i no i'm facing a hard time..i no some of its my fault..long for the day when this is over..not the 1st wont be the last!!
its strange, ure rite its only money, but it seems to bring such heartache in life....think i'd rather be poor and happy rite now.
Think alot of the worry is about the 'unknown'.. maybe its best not to no wots around the corner...
sorry to all, i rite like i text!! |
| kazy1 |
Posted - 28 October 2008 : 16:38:06
Hi Leighj12
and welcome if you think about it what is the worst that can happen now!! You have started the Br process and from where you are now the only way is UP. It takes time but you will get through this and be reasured that what ever your needs you can always talk to one of us we have all been where you are and understand where your coming from. this is the begining NOT the end of were you want to be take each day as it comes it life will challenge you but wouldn't it be boring if everything went ok I also had business,house and owed 296,511.10 (Mmmmmmmmmm).
I have 6 wonderful kids (anotherMmmmmmmmmmmm) life can be hard but your never alone here hopefully "needafriend" (Jo) will be along shortly.
Take care we have all sat were you are and we are still here have faith in yourself you have not done anything wrong
Kazy1 |
| Nat |
Posted - 28 October 2008 : 16:31:16
Hello Leighj
Sounds like you've had a pretty rough ride of things. I think that you should really call the helpline and speak to someone asap. I can't comment on your business records but i guess if they are not there, there's not a lot you can do about that. Get yourself some advice from the helpline they are really good and you wouldn't be judged at all.
We have all felt really low at times but you need to get through this you have 2 children who need their dad too. And believe me they still love you whether you are skint or not. It sounds as though you have a really supportive mum too, you have a lot to live for. It is only money, i know easy to say but it is true. You could look at having a fresh start you just have a few hurdles to get over and we are all here to help in anyway that we can.
Don't give up and take care
Nat
x
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