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johns
Junior Member
United Kingdom
269 Posts |
 Posted - 27 July 2008 : 19:22:03
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Thanks ann and you know an old banger that you own is better than a new one on credit.
Regrds
John |
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BankruptC
Senior Member
1030 Posts |
Posted - 27 July 2008 : 20:46:09
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Hi Drowning Mummy!
Welcome to the buddy club!  I've seen your posts on here and was hoping you'd join us!
Hope you're bearing up today with your poorly little one and all. A huge cyberhug's on its way to you! ((((((Drowning Mummy))))))
We were also looking to go BR around August 20th, but now we're thinking about handing the keys back to our property so we'll need to do that first before we can go ahead with BR.
Hope to hear from you again soon!
John - Thanks for the offer for ian. Chin up about the car. You're absolutely right about material possessions meaning nothing. I keep looking at our little one and thinking how lucky we really are-it puts everything into perspective. 
Ann - I'm the same with the sites, reading both this one and the other one obsessively! Ian says I'll know more about BR than the OR does at this rate! 
Well we're at the point of having to make a fial decision about the house now. We're pretty sure we want to hand the keys back and rent, but just need to speak to a couple of people tomorrow to double-check our position with that and that we're not likely to be turfed out of our rented property when/if the landlord finds out about our BR. I've had quite an 'up' day today, and I think the lovely weather definitely helps! Hubby and I have been out playing in the garden with our little one in the paddling pool, with empty bottles for pouring water, lots of grass and soggy cheese sandwiches! THESE things are what life's all about isn't it, NOT money or material things.
Keep your chins up and keep posting!
CG. x
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johns
Junior Member
United Kingdom
269 Posts |
Posted - 27 July 2008 : 20:58:30
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Remember every time we take credit some fat cat gets a bonus, their bosses get a bonus and the head achieves a target.
When we default the head is down on target he kicks the boss and the one at the bottom loses their job who then takes credit on cards to pay the bills and then the boss gets made redundant and the big boss gets ulcers because someone in amrica is constantly on about bad debt, if they stopped credit the shops would have to reduce cost and the country would not be crippled so no blame on us just blame on the card companies who must get the customers in debt for us to fund the interest to fund their big salaries and remember all debts can be written off against the tax at the year end and the companies all budget for bad debt.
Just watching an old video of evertons glory days but like us they are getting through the bad times by restricting their debt.
regards
John |
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BankruptC
Senior Member
1030 Posts |
Posted - 27 July 2008 : 21:08:46
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I know what you mean about the card companies etc John, but I personally can't help but feel REALLY guilty that I've borrowed money and can't pay it back. I think it's just the way I was brought up, to pay my way and not to owe anything to anybody (didn't listen to that one then!  ). I would have much preferred to be able to do an IVA so I could at least feel we were paying somethig decent(ish!) to the creditors, but unfortunately we just couldn't afford to make the repayments. 
Love the footie analogy by the way! Made me smile!
CG. x
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johns
Junior Member
United Kingdom
269 Posts |
Posted - 27 July 2008 : 21:14:14
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Please do not feel guilt you have admitted the wrong and i saw a qualified insolvency practitioner the other day and i feel ashamed and she told me i have done nothing wrong ditch the guilt and move on and being an everton fan really bbrings me down to earth we are nearly tjere then someone comes in and spends 32 million on tevez that relly hits home
Regards
John |
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Sharon53
Junior Member
194 Posts |
Posted - 27 July 2008 : 21:47:24
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Hi
I can sympathize with your situation - my son is in the same crisis at the moment, that is, a failed IVA and impending bankruptcy. It is just as hard for Mums to cope with the worry, I,ve had the sleepless nights and the depression and anxiety, and now I am terrified that some "heavies" will turn up on their doorstep.
He and his partner have a lovely little girl who is just a year old and life is a great struggle at the moment as I am sure it is for all of you. I do all I can to help but at the end of the day it will be my son who has to face the court and the OR.
It is a comfort to read all the comments and to realize that we are not alone, there are lots of others in the same situation.
Sharon
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johns
Junior Member
United Kingdom
269 Posts |
Posted - 27 July 2008 : 21:50:31
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| Hi sharon i think the iva situation will hit its peak soon and we should start getting like america no shame in br and the enterprise act is going to help your son and start a new debt free life |
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BankruptC
Senior Member
1030 Posts |
Posted - 27 July 2008 : 22:49:33
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Hi Sharon,
Thanks for the message, and for the one about renting. We've spoken to the lettings agents and have been assured we wouldn't be evicted if we were to go BR during a tenancy, so that's a huge relief. I know just how your son and his wife feel. We too have a very little one and it is such a worry wondering what will happen in the next few months. You sound like such a supportive mum and I'm sure your son appreciates everything you're doing for him . I know it's much easier said than done, but do try not to worry too much for them. They'll get through this, we all will. AND we'll be stronger for it, and we'll have learnt such great lessons to pass on to our little ones!
CG. x
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BankruptC
Senior Member
1030 Posts |
Posted - 27 July 2008 : 22:57:36
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Hi Jo, (we were posting at the same time! ),
Thanks for sharing your experiences so far. It really is so stressful and it's great that your BR date has almost arrived and before you know it you'll be starting your debt-free life! I know there are lots of uncertainties after that, and I really hope you are given enough time in your home for your son to finish his exams without suffering the upheaval of a house move. My fingers are well and truly crossed for you.
Please keep on posting and let us know how you get on with everything!
CG. x |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 28 July 2008 : 09:08:41
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Hi all - I haven't been able to get online recently and it was truly heartwarming to read through this thread this morning.
I went through BR in April of this year and know exactly how you are feeling.
BR has been a new start for me and, once the reality of being debt free sinks in, it is life changing. After years of debt worry and stress you will find this period of hassle is soon in the past and you can start to plan a future without debt.
You already know you will get lots of support from the forum!!!
Vicki x |
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Gt4
Junior Member
171 Posts |
Posted - 28 July 2008 : 12:11:31
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| Hi my husband went bankrupt five years ago and we are still going through it. At the moment they are trying to sell our house. Also, i never bothered to put my name on the mortgage, but i did pay the bills and maintain the house. We have two children and moved in together. Now, they are saying that i am not entitled to anything from the house regarding equity because i was not on the mortgage. How long can this go on for and am i entitled? |
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BankruptC
Senior Member
1030 Posts |
Posted - 28 July 2008 : 13:49:36
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Hi Gt4,
Your situation sounds really tricky. As most of us who post on this thread aren't at your stage yet, maybe it would be an idea for you to post your question again as a new topic, to maximise your chances of an expert reading it and being able to advise you.
I hope you get it sorted for you and your family.
Let us know how you get on!
CG. x |
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ann.s
Junior Member
238 Posts |
Posted - 28 July 2008 : 15:43:15
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Hi all, just taking a few mins out at work, I am fumming Barclay Card rang me this morning at 8.45, I explained the usual can't take calls at work etc, then demanded that they remove my works no. he said he would do it, but let see!! He then asked for my mobile no ehh NO!! do they think we are daft? Dreading going home to see how many calls I have missed.
Take Care,
Ann |
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Sharon53
Junior Member
194 Posts |
Posted - 28 July 2008 : 21:48:37
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Hi Ian
Thanks for your message of support, to be honest I just wish it was all over. It seems to have been dragging on for so long now,it was last October when my son finally admitted to me that he had an IVA, overdraft and a loan with his new car as security. It was an awful shock at the time to find out the amount of debt he had, I had known that he had a fairly large loan but never thought he could get himself into such a situation. The car was the first thing to go of course.
It was OK when he was single and living at home, he could afford the repayments then, the problems came when he had to have a home of his own with all the expenses of rent and bills, he couldn't afford to pay the IVA anymore. Then of course the little one came along and their income went down more.
I feel we are missing out on what should be a special time in her little life because of all the worry, but hopefully he will have sorted out his BR by the end of this year and we can put it behind us.
The financial institutions have a lot to answer for, I think. Money is just too easy to come by, they push it at you all the time, offering loans and increasing credit card limits, it's no wonder so many people get into trouble. I'll always remember what my son said when I asked how he could possibly get so much debt, he said "Mum, it's just too easy, the click of a mouse and the money is in your account, even though you already owe thousands."
Hope you find somewhere to rent if that's what you decide to do, although that is awfully expensive too, as I said before there are referencing fees, a month and a half rent as holding deposit, and a months rent up front when they move in. I am off in the morning to pay the deposit with him - can't wait for the move then he can go ahead with the BR.
Sorry to ramble on but as I said it makes you feel not so isolated to see all the other comments and questions.
Sharon
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BankruptC
Senior Member
1030 Posts |
Posted - 29 July 2008 : 09:01:13
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Hi again Sharon,
Feel free to ramble away-we're all in the same boat and chatting about it really does help.
You're right about it being very easy to get credit these days and the thing we find most annoying, looking back, is the way the credit card companies would automatically increase the credit limit on an account wich already had a massive limit . At the time, we were relieved-we could use it to pay the creditors we were struggling to pay, but now it just seems ludicrous and hugely irresponsible on their part (as well of ours of course!).
The good thing about your situation (and ours) is that the little one is so little, she really won't be affected by this. She'll have her Mummy and Daddy and her grandma who love her and at this little age, that's all she needs. The way we look at it is that by the time our little one is old enough to be aware of things, we'll be sorted. Ian always used to worry about not beig able to afford to send our little one on school trips and the like when the time came, but by taking this action now, he will have the life he deserves-a comfortable one, where he learns the value of money and that you need to save for what you want in life.
We're still really undecided about the house. We just think it would be stupid to get off the property ladder by surrendering the house if there is the slightest chance we can keep it and that it could be profitable for us in the future. We are in negative equity, so we'd be relying on a turn in the housing market over the next 5 years or so for things to go our way. On the other hand, we could rent, and save save save, but could we save enough for a deposit, especially if house prices do increase at all over the next 5 years. And even then, would anyone give us a mortgage at a decent rate?? There are just so many ifs and buts that we can't make up our mind what to do. We've paid £200 to hold a rental property for a month, but now don't know if we want it! Aaaargh! 
Hope you've got the deposit for your son's house sorted now and you can feel things are starting to move. As you said, the sooner things start to happen, the sooner this will all be over and you can all concentrate on enjoyig that precious little one!
Take care and keep us posted!
CG. x |
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BR buddy for a worried wife and mummy?!
