Today after a few years of burying my head in the sand, I decided to face up to my debts that span back to 2002. I was horrified to find out I owed a few pounds short of £20K. I have spoken to someone at the nationaldebtline this morning who went through some questions and is sending me an information pack out. I have a meeting with CAB next week to discuss my finances. I am disabled now due to ill health and now wheelchair bound and my wife is 1 of my carers. So with only living on benefits and living in rented accomodation and no assets and only a few £`s left after paying for everything each month. Im now contemplating making myself bankrupt. I have always been to scared to face up to my debts and now I have, well the amount shook me up. And the prospect of Family and neighbours finding out Im going to be bankrupt through the papers terrifies me.
They don't publish names of BR people in the local papers any more so there is no need to worry about your neighbours finding out.
It sounds like you have made a good start by speaking to the National Debtline and having an appointment with the CAB so if you have any questions about BR post them here and we will help out.
Thank you for your reply, my wife seems to think our local paper does publish court cases including debters court as she calls it. I am not sure if I am doing the right thing for my wife and family by declaring myself BR. I know they can not take my car as its a motability car and the loans and credit cards are all unsecured debts. If I do decide to make myself BR does that affect my wifes bank account? we have seperate bank accounts.
The only reason your name would be published in the local paper now is if the OR (Official Received) didn't think you were being 100% honest about your creditors and you may owe some money to other people. All BRs used to be printed in the local paper but that has stopped since April 2009.
If you declare BR it will not affect your wife at all unless any of the debts are joint. If they are they the debt will defer to your wife and the creditors will chase her for the money.
If you have separate bank accounts then your wife's won't be affected but yours will more than likely be closed. As a BR you will only be allowed a basic account, which means no cheque book and no overdraft. You can either have your benefits paid into your wife's account or open a basic account such as the Co-op Cashminder.
Declaring BR only affects the person and not anyone they live with or the address that live at.
I have a basic bank account as it is and my benefits are paid into that. I have been told that i can as the OR to let me keep my account open for my benefits to go in there. All the debts are in just my name thankfully. When I say all its 3 companies 1 has a ccj against me and the others have been sending letters and phone calls on and off when I had missed payments.
Worried Sh1tless
Posted - 01 February 2010 : 18:37:09
