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stevie1958
Starting Member
United Kingdom
4 Posts |
 Posted - 28 December 2008 : 21:15:03
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| I have just came across this forum and i am so glad,well basically i have more dept than i can cope with,i will never be able to sort it out this hasa been going on for a few years now,i am fed up with threatning letters and hassle on the phone,the only way i can see forward is bancruptcy,i work full time my wife works part time between us we bring in about 1100 a month we have 3 teenage boys,we live in a councill house the rent and councill tax is 500 per month,the thing is i can't even afford the fees so i was thinking of taking one of those payday loans to pay for the bancruptcy but i feel i may get in to trouble if i do this,any advice would be greatfull. |
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digman
Junior Member
United Kingdom
319 Posts |
Posted - 29 December 2008 : 00:54:32
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Hi ,
I would advise caution in regards to getting a 'payday loan' to cover the bankruptcy fees as this would be seen as 'taking on credit with no intention of repaying it' .
The OR would most definately frown upon this and i think i am correct in saying that it could also be deemed as fraudulent , therefore criminal .
Good luck with what you decide to do ,
Andy
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ste.s
Junior Member
206 Posts |
Posted - 29 December 2008 : 01:17:48
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| i was going to post the same,be carefull as example if you sell the family home pre bankruptcy the OR will have you,i have heard that if you are unemployed them the fees are cheaper or let the creditor make you bankrupt you dont own your own home so no assets,good luck no point getting into further debt an trouble been there lost a house,family falling apart,the one good piece of advise is be hounest with the family and yourself,payday loans to many questions plus the APR,good luck m8 i wont say happy new year but all the best |
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RHB
Senior Member
1159 Posts |
Posted - 29 December 2008 : 07:35:35
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| Are you claiming working tax credits because with 3 children & both you and your wife working you should have more income than that. Also, check your council tax because 500 is an awful lot a month or is it your rent & council tax combined???? |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 29 December 2008 : 08:38:32
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Hi Stevie
Welcome. I would have to agree with these guys about the payday loan, if you can avoid it dont do it.
You should be able to claim WTC and/or CTC to help top up your wages, i would give them a call and see.
As for the fees your on a low income so the court may allow you the full reduction of £150 bringing it down to £345 but you would need to contact them to find out how you go about applying to get it and also what there criteria is, i also have some info on that in my blog.
Is there a family member that you can ask to help with the fees. I know you have to pay your rent so cant say miss a payment but there has to be a way round it. I take it you have stopped paying your creditors, if you have you can save up the money using that but again thats if you can live still while your saving the money.
I do hope that you get it sorted.
Jo
x
Wishing you all a Happy Debt & Worry Free 2009
21 Weeks down
31 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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stevie1958
Starting Member
United Kingdom
4 Posts |
Posted - 29 December 2008 : 16:35:49
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| Hi, thanks to every one for th replies,well i think i will go without the loan,i am not entitled to working tax credits as the 3 teenage boys have left school,( twins 18) and 1 is 19,though they dont work,we are also paying bailifs 68.00 per month,as we got floode quite badly about 18 months ago we had to move house and it cost us a fortune to replace everything,so we got in to dept with the councill tax along with other things,we pay 500 per month for rent and councill tax combined,i had 3 operations in the last 18 months so a lot of expense their too,as i was not able to work overtime etc,i had 92 days off work this year,i still have a medical problem and although i am back at work i am not able to do my normal job,i would normally get about 350.00 per month in overtime now i can only get my basic hours,( but i am lucky to still have a job)and i am due to have another operation in may,but i am sure i will find some way round it, |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 29 December 2008 : 16:54:37
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Hi Steve
I am sorry to hear about the problems that have caused the debts i do understand where your coming from and there must be a way round it.
I have twins although only 9 and a 15 yo so i do know what you mean by the kids etc.
I hope that you can find someone to help you with the fees as i do think that this may be the best option for you and would certainly ease some of the pressure on you right now, which you dont need.
You take care and do keep posting.
Jo
x
Wishing you all a Happy Debt & Worry Free 2009
21 Weeks down
31 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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Bancruptcy
