Can anyone advise? I am thinking of going BR. I recently took out another CC to balance transfer from another card and have made 2 minimum payments. After reading some threads on the forum people advise to make at least 3 payments on a new credit agreement before declaring BR. Also i have read that you should not use any credit immediately before going bankrupt. What should i do for cash/paying bills etc, I am a self employed joiner and my work is virtually none exsisitant. I owe £19,000 Should i stop paying my creditors? should i tell them i can't pay? How long after not paying should i apply for BR?
I am very confused as to the best way to go about it and it seeems like a minefield.
You dont seem to have used that card, its more of a balance transfer - am i right ?
It sounds like you are in a position where you are NEEDING to use the cards rather than wanting to - this is what alot of people need to do before they declare br.
Most people stop paying their credtors to save for the br fees. It is up to you if you want to tell them, however some poeple prefer no contact with creditors are they are too stressed, which im sure you are.
I would suggest you give the helpline a call and talk through your situation. They can advise based on your individual circumstances. You could always try and call one of the experts Paul Johns at Reviva is highly recommended and well regarded on the site (he wont charge you for that initial call either)
One thing to remember is not to rush.
Good luck and keep posting
Jenny xx
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
You dont seem to have used that card, its more of a balance transfer - am i right ?
It sounds like you are in a position where you are NEEDING to use the cards rather than wanting to - this is what alot of people need to do before they declare br.
Most people stop paying their credtors to save for the br fees. It is up to you if you want to tell them, however some poeple prefer no contact with creditors are they are too stressed, which im sure you are.
I would suggest you give the helpline a call and talk through your situation. They can advise based on your individual circumstances. You could always try and call one of the experts Paul Johns at Reviva is highly recommended and well regarded on the site (he wont charge you for that initial call either)
One thing to remember is not to rush.
Good luck and keep posting
Jenny xx
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
Can anyone advise? I am thinking of going BR.
Posted - 20 January 2009 : 21:05:06
