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Damsel_in_Distress
Junior Member
174 Posts |
 Posted - 01 September 2008 : 13:55:48
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Hiya,
First of all I am thankful to have found this forum and I have been lurking around reading posts for sometime now and finally built up the courage to post my own dillema.
I am from the far east and currently living here in the UK and awaiting Naturalisation and married. I have been living here for 4 years now and through those four years I managed to accumulate debt of around 10,000 solely on my name and my husband doesnt know anything about it (well he knows that there is a debt in my name but he doesnt know how much). My debt includes a loan of £6000 taken out in September 2006 (initially it was around £8500 but I have never missed a monthly repayment) and the other £4000 is mainly credit card purchases which has accumulated over the years. To be honest with you, I cant remember what it was spent on but after some thought, I gathered that this are the following reasons:
1. The £6000 that I took out was spent on a. I paid the loan which was on my husbands name which was spent on us going back to my home country. b. Paid of some of the cards but not the full balance. c. paid the store cards which was on my husbands name.
2. The £4000 -- > this the hard bit which I cant really remember where it went... but mainly it is expenses like clothes, travels, shopping, visa fees, etc.
I put my hands up that it is me to blame for getting into so much debt... if you are wondering where all these money was spent... For the past few years that I have been living here in the UK, I always missed home and was always seeking a spot to fit in. I am always homesick... missing the closeness in family and friends who I have known practically all my life... I have been going back and forth my country for the past few years and I must admit that this is the root of my debt.
It was my intention to pay all the debt when I start to work full time as the moment I only work part time due to my little one... But last week I had the shock of my life... My husband has been made redundant and there is no chance we can afford the monthly repayments anymore. I only earn £500 a month and our monthly expenditure is £1800.
Can you please advice me of the best way forward? Am just so scared. Whats the chances of me going to prison? My head is just ready to burst right now... Also, yesterday I was rushed to A&E and doctor was thinking it could be torn ligament which means I wont be able to work as well... Any advice please.. Am just desperate and feel alone. Sorry for the long post.
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 01 September 2008 : 14:19:39
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Hi DinD,
Welcome, your not alone on here.
I feel for you i really do but it is so similar to the many on here.
Whilst i cant comment on if BR is the right route for you, it may be better to call the above number and leave a message for John and ask him to speak to you verbally, he will be able to offer better advice to you. The call is free and if you leave a message he will get back to you.
Good luck
Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 01 September 2008 : 15:14:15
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Hi Damsel in Distress and welcome to the forum.
£10k does seem a little low to consider BR. It strikes me that what you need most is time to get back on your feet. I think a debt management plan (payments based on affordability) will give you this time with the minimum impact on your credit rating (compared to BR or an IVA).
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Advice needed please
