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sott1967
New Member
United Kingdom
67 Posts |
 Posted - 03 February 2009 : 15:03:50
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Ok heres my story,
i feel nothing but shame and worthlessness right now any advice/comments would be greatly appreciated.
I am pretty sure personal bankruptcy is my best option.
Basically my wife left me last oct (08) and is now living in our family home with her new partner and our 2 beautiful daughters. I signed over the house deeds to her and him last dec(08) there is NO EQUITY in the house,i have been living in rented since she told me of the affair. I have had a gambling issue for some time but since last oct it has got out of all proportion, however i do finally realise the damage it has caused and am noe attending GA, since last oct i have got 35k in debt about 80% due to gambling, four credit cards and one bank loan. Heres my main concerns all the credit cards were taken out with my old address (homeowner) and all around the time we split i have not informed them of my new rented address i also stated my self employed earnings as 40k when they are more like 10k. The bank loan did have my correct rented address when i applied last oct but i did inflate my earnings, i was self employed caterer but now am looking at unemployment as i cannot run a business from rented place. I also sold my van 8k recently and again lost this gambling. I have no assets and have been a complete fool please could anyone tell me what i may be faced with in bankruptcy or is it even more serious ie fraud. Nearly all of the money has been lost in the last few weeks.
this is my honest true sad story
Please help/advise if you can i am sick with worry .
Thanks
Scott |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 03 February 2009 : 15:16:32
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Hi Scot 1967 and may I congratulate you on getting your head out of the sane and realising you have a problem and want to fix it. Also well done on accepting the gambling problem, and seeking help via GA. With regard to your debts and current unemployment it may well be that bankruptcy is the best option for you. The basic principles of bankruptcy are to draw a line under a problem and give an individual a fresh clean start - from reading your story you really should consider yourself a prime candidate for taking that course of action.
As you have sought help it is likely that the OR will not be concerned with your previous gambling, but the very worst scenario (dependant on the amount of monies gambled) is you facing a Bankruptcy Restriction Order which ineffect means you will be bankrupt for a longer period than the basic bankruptcy order of 12 months. However, I cannot state how long that period would in effect be as this is for the OR to decide taking all the factors into consideration.
With regard to the house, this will have to be looked at by the OR to ensure that no asset was transferred under value, though it should not be too difficult for you to proove the non equity situation.
Make sure you list your previous address as well as your current address when completing the forms so that you can be 'traced' as a customer from a creditor perspective if most debts are at the previous address.
I hope this helps, and if you need any further assistance or answers to any queries please fire away.
Well done though in taking the hardest step in realising you have a problem
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
01446 711780 |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 15:34:23
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Melanie,
thanks so much for your speedy response.
I cannot sleep with the worry but are you saying having read my story i would not face fraud or prison, even though i lied/exagerated on credit applications and my debts nearly all due to gambling have happened so recently. 35k is the total. Is The sale of my van 8k recently a big problem as i stupidly lost that in the bookies shop to. My credit cards i used to withdraw cash (nearly 20k) again lost in the bookmakers shops. I know it would be really hard to say but could you guess at how long my bro would last and is my situation worse than most in bankruptcy from gambling.
Sorry if i am asking alot but as i have said the worry is huge.
What a fool i have been, not only have lost money but my wonderful family to and all down to damn gambling,
If anyone out there is about to place that last big bet please please think again.
PLEASE, all posts would be greatly appreciated to help me get a better angle on just how serius my situation is ??
Thanks
scott |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 February 2009 : 16:15:37
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Hi Scott and welcome from me as well.
You've made the first step to sorting things out by going to GA, and this will go in your favour with the OR. A big well done for facing up to your debts as well - that's the hardest part.
As Melanie says we can't tell you how long a restriction undertaking/order will last, all I can say is the last between 3 and 15 years, depending on how seriously the OR views things. Even if you get a BRU/O, you will be discharged from BR after 12 months, but subject to the restrictions for the length of the restriction order.
Good luck, and please keep posting as we are all here to help you x
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 16:17:27
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HELP, HELP, HELP,
i AM SAT HERE FRANTIC WITH WORRY. would be really helpful to hear other peoples views/experiences in relation to my situation.
ALL COMMENTS PLEASE GOOD OR BAD
Thanks
scott |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 17:09:40
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skippy13
thanks for your comments.
sorry i don't understand, if i get a bro is that different restrictions to my original 12 month bankruptcy better or worse? |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 February 2009 : 17:12:06
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It is the same restrictions - no credit over £500 without informing the creditor first, restrictions on certain jobs etc.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 17:20:05
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Skippy13
thanks.
give me an honest answer my friend what do you think i will get when you read through my story.just a guess will be fine you obviously have more knowledge than me.
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 17:51:52
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Help everyone,
I know you all have your own issues to deal with but i would really would appreciate some more comments on my story good or bad i am getting more worried by the lack of comments. Is it because lots of you think i really am in the sxxt.
PLEASE talk to me !!
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 03 February 2009 : 17:52:11
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Sorry Sott1967 it is impossible to give a timeframe other than it cannot be over 15 years (the max available - though in practise very rare and you are no where near the category of individual for whom that figure would be set)
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
01446 711780 |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 18:01:38
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Melanie
Thanks,
are you sure what i have done would not be classed as fraud in anyway, prison etc. i have stated everything (nothing still to come out closet) only good thing i have in my life are my wonderful children i dont want to bring my shame onto them.
Scott |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 February 2009 : 18:17:52
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Scott, I'm not going to try to reassure you as I'm not a professional expert, only someone who has been BR myself. One thing I will say to you though is that your children won't be ashamed of you - you're their dad and they love you. You will get through this.
One thing I will suggest is that you give Paul Johns a call. He posts as Reviva on the forum and his details are on the experts page, or any of his posts. He is a BR expert and he will be able to talk to you on a one to one basis. He's also a very nice man!
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
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harbourmaster
Junior Member
346 Posts |
Posted - 03 February 2009 : 18:26:38
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| Hi Scott, I cant reassure you as again like skippy I am no expert. The only thing I would like to say is that you have overcome th biggest hurdle in admitting and accepting your problems. From my experience it is good to get things off your chest and out in the open. Keep posting on here as there are many people who will help you through these difficult times and you will see th elight at the end of the tunnel soon...... |
Edited by - harbourmaster on 03 February 2009 18:27:05 |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 18:34:00
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Thanks
anyone else please
do any of you know of someone with similar circumstances to me ?
if so what happened to them ?
Thanks
Scott |
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sott1967
New Member
United Kingdom
67 Posts |
Posted - 03 February 2009 : 19:56:54
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Come on guys give me your opinions i can deal with it honest, does everyones silence mean i really am in the sxxt
Thanks |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 February 2009 : 20:19:46
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No, it doesn't. However it's difficult for us to give specific advice as none of us know what the OR will be thinking. I do think you need to take professional advice, by either contacting an IP, Reviva, the CAB or the CCCS.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
20 IPA payments made, 16 to go - on the home straight! |
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what a mess please help ?
