All Forums  New Questions  Forum Questions  troubled student needs bankruptcy advice

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

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 raniston1984[/i] [br]Hello I really need some advice about bankruptcy and would really appreciate any help/advice :) I have been reading about bankruptcy and have been considering it for a while, but have a few questions. I owe about £63000 on credit cards/loans and have a mortgaged flat of £172000 which currently is in negative equity due to the drop in houseprices etc. I have been really struggling to make repayments for a long time, and have now started to take cash out of the credit cards to pay for payments coming out of my bank account which I know is really bad. the only way I have been managing to pay so far is by working as a dancer (which is cash in hand) and my student loan payments, which pay my existing loans. My questions are: 1. I have been reading that the OR will take assetts, will they take my laptop, clothes and i have a plasma tv that is worth £800. Will they take all of this? 2. I have been studying since september 2007, and am studying to become an optometrist and will graduate and be practising in 2011. Will they extend bankruptcy so when I graduate I will continue paying into the fund? and how much are the likely to take? will declaring bankrupt mean I cannot practise as an optician as I know it affects many jobs? 3. when filling out credit applications, I did exaggerate my income and had to remortgage in nov 2007, when i was a student, but I said i was working to do it (i finished work in september so just extended the dates). Is the OR liley to investigate this thoroughly to discover this? and I read this may mean that the BRO is extended? what is the likelihood of being prosecuted? I have more questions as my situation is complicated, but would relaly appreciate any ones views on this. All I want to do is finish my degree, and then I am quite happy to finish paying these debts off wehn I will have a good salary. But at the moment working as a dancer to pay the £1800 i have outgoing every month is exhausting me and at this rate I will fail my degree. Many thanks for reading :) [/quote]   Check here to include your profile signature. Check here to subscribe to this topic.