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Wendy.10
Starting Member
1 Posts |
 Posted - 25 April 2011 : 11:17:58
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| My husband has declared himself bankrupt, he has £50k + debts..through this I have also had to go into a debt management program.because joint bank account overdrafts etc Iam having to pay..just prior to his bankrupsy I lost my job, I have managed to get another, but my income has dropped from £45k to £20k, so the credit cards etc I have, are now a struggle we have 2 children one at college and one at school, my youngest is currently having councilling suggested by the school, because she is depressed. We have no money at all, none, My I cant give my kids pocket money like I used to they have out grown their clothes, their drama/dance classes have had to go..,and I am being absolutely honest with you WE HAVE NOTHING, we,ve been eating tins of soup for breakfast because seriously I cant afford a loaf of bread, my account has NOTHING in it. We are both on good incomes but we cannot live like this..It has got so bad I have asked my husband to leave, we own a property together and we have 2 investments which have all down valued, so we owe more than theyre worth..This is a nigtmare, Do I go bankrupt aswell??Even if we were on the dole we would be fed, what is the point in working? The marriage is finished, I want my husband out, were do we stand?? |
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RHB
Senior Member
1159 Posts |
Posted - 25 April 2011 : 12:31:22
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What a lot going on, no wonder you are all over the place!!
If you can't afford to buy food then you need to stop any debt payments, mortgage excluded if you want to stay in your home. If you are subsidising your BTL's at the expense of eating then let them go, stop paying the mortgages.
Best advise would be to ring up a couple of debt companies & see if bankruptcy, IVA or a debt management provides the best solution, but there will be one out there. |
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mistake09
Starting Member
49 Posts |
Posted - 25 April 2011 : 13:19:41
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| as a short term solution, have you tryed selling some things you own?? im not being daft and thinking this will pay off your debts but it would buy food for you and the kids |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 April 2011 : 13:34:17
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I agree with RHB, take advice from an expert asap. Your debt problems can be sorted, you just need to have all your options discussed with you. There will be a solution.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 25 April 2011 : 15:59:14
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I agree with Viki and RHB, you really need to take advice from an expert. There will be an answer for you, so I would do this sooner rather than later as you cannot carry on like this.
Good luck, and please keep posting x
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 25 April 2011 : 17:37:02
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I agree as well - please seek advice from an expert, it's free and impartial.
You cannot go on like this.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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glafy
forum expert
436 Posts |
Posted - 26 April 2011 : 14:43:56
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Hi Wendy.
I'm popping in here to agree with the others as well.
PLEASE contact one of the experts. There is a link on the left hand side of this page if you need it.
You must get yourself sorted. You will feel so much better when things have been explained and offered to you.
Good Luck & keep in touch.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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theguvnor
Junior Member
100 Posts |
Posted - 27 April 2011 : 07:11:57
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If you can't afford food then stop paying creditors, I was in a very similar situation to you but I realised it was not any good paying the sharks if we didn't have anything to eat - to ease my guilt I offered em all a pound a month till I sorted bankruptcy and I was able to at least put food on the table. I can assure u things will only get better for you as you are at rock bottom. Don't feel guilty about paying less to your debts - you and your kids must eat!
Keep your chin up it does get easier! |
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We have nothing I can't afford a loaf of bread
