I have outstanding unsecured debts of approx £42K from years ago. Have been on a DMP with CCCS paying each creditor £5/month until now. Been advised to stop payments to them and pay more towards my mortgage arrears since attending a repossession hearing on my house in court in Aug. House was due to be repossessed on 7/10/08 but the mortgage co. has just given me 2 months extra time to sell my house (I have been trying to sell it for 1 year since I knew I was going to have trouble making my mortgage payments due to a change in my circumstances i.e.baby born April 2008). I have just received my best offer yet (Other than the offer that fell through in Feb '08 which would have cleared all my debts) but that is still £10K below my break-even amount (Will be approx £12K by the time the sale completes). I am seriously considering Bankruptcy after my house has sold or is repossessed as I have no other assets and am fed up being hounded by creditors. Am I better off to sell my house at this price and accept a £12K negative equity or let it go to repossession for an even greater negative equity. Would it help my bankruptcy case if I sold the house myself rather than let it be repossessed and sold at auction for a much lower amount? I am at my wits end as to what to do and my health is suffering. I am worried sick and despite gaining as much advice as I can, cannot help but worry. I am 33, a single mum and have a beautiful 6 month old baby boy, who is the only thing that is stopping me from ending it all by suicide. Am going to call the mortgage co. and see what they suggest but I am worried they will insist I continue trying to sell it for a higher price. I really cannot face keeping my house immaculate every day for viewers who put in stupidly low offers that I cannot accept, especially now that 1/2 my house is in cardboard boxes as I thought I had to be out by the 7th Oct. Any advice you could give me would be much appreciated.
I am no expert as i am only going Br on 13 october, however i was feeling exactly the same as you 2 weeks ago - this site will give you so much information an you are amongs friends who care about you and how you are feeling. Please dont feel you are on your own.
As i say im no expert but really wanted to leave you a message. Please take care.
Jenny
Xx
The weights are coming off my shoulders very slowly, but making such a big diference !!
I am sorry to hear about your troubles and its not one that i and everyone else on here have not heard before.
Hope all ok with the new baby. Anyhow i am not sure what your best course of action would be i would call the free helpline and get advice verbally from them, they always call you back and i think that would be a good way forward, giving you all the options open to you.
Keep posting and reading and remember your never alone with this site. :-)
Jo x Mother Hen
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
I am at my wits end
Posted - 03 October 2008 : 20:39:28
