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troubled008
Junior Member
121 Posts |
 Posted - 14 September 2008 : 18:28:10
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My accumulated debt is largely due to my own incompetance and indiscrimenant spending on nonessentials and luxuries, also using credit to pay credit. Under a year ago, I took out a secured loan to consolidate existing debts, then ran up my credit cards again! This has left me in this insolvent situation. I would imagine the OR would not look kindly on this as the debt is my fault. If a restriction order is placed on me, will this mean the salary attached payments will continue for the duration of the order and could I have committed a criminal offence?
Secured Debt (inc. mortgage) - £115000
Unsecured Debt - £22000
Income - £2200
Expense - £2800
Thank you for all your help.
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 14 September 2008 : 18:55:36
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Hi Troubled,
Im not sure how to answer your post, but i wanted to say hang on in there and someone who can will be long soon to help you out.
Take care and in the meantime try not too worry.
Jo x
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
For links to help with Bankruptcy, useful web pages and also a run down of my new debt free life, both before and after Bankruptcy, then please visit my blog:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 15 September 2008 : 05:06:45
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Hi Troubled,
Being in debt is not a criminal offence. As long as you took the credit with the intention of paying it back, you'll be fine. If you obtained credit and made no repayments whatsoever before going BR, it is possible the OR may consider that fraud which is a criminal offence.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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could I have committed a criminal offence?
