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deleted
170 Posts |
 Posted - 16 February 2007 : 10:51:52
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I need so advise as I have so much debt that i feel like it's killing me...
A year ago my partner left me and left me to deal with all the debt that we had accumulated over the period that we were together the debt was all in my name, that didn't help me as when she left i didn't have a income to help me out. I owe around £40,000 and i rent my home so maybe banruptcy could be a option but i would like to know if there is something better but i am struggling to live. i work all hours i can but my health is suffering as i work so much... i need a solution and would be grateful if someone could give me a helping hand and let me know my what my options are. |
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BankruptcyHelpline
Junior Member
United Kingdom
195 Posts |
Posted - 17 February 2007 : 16:40:10
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Hi Maxwell, it sounds to me like you need to gather your friends around you and offload some of the worries you are carrying, feel free to offload here!
From the basic information you have given, bankruptcy may be a viable solution.
Can you post a basic income and expenditure on here so we can have a look at your situation, the sooner you do this the good feelings will start to return to your life.
Life's a bunch of blips, some bigger than others!
Chin up.
Regards, Dennis,
www.BankruptcyHelpline.Org
02086269366 |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 24 February 2007 : 14:39:17
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Hi Maxwell, sorry to hear you have been having such a bad time of it. I can't offer you any advice as I know very little about bankruptcy (although I think that will change very soon!), but I just wanted to say you're not alone and to wish you luck with whatever route you follow.
Where there's life there's hope! |
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freelili
Junior Member
United Kingdom
171 Posts |
Posted - 24 February 2007 : 19:37:52
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Hello maxwell
Like skippy has said you are not alone.
I was going BR in January, things changed (dont ask)
If you have no assets to worry about or a rolls royce it may be your best option. I know it sounds scary (I had visions of men waltzing my TV/video and the unit it was standing on out the front door) Unless you have a 32 inch plasma TV or antiques worth thousands of pounds.
The other concern is your job/profession bankruptcy can affect this so you would need to check out this on your COE or HR dept.
You can fill the forms out online, book a court date and with around 475 pounds youre there.
You may have to pay into an arrangement for 3 years, (around 50 per cent of your disposable income) Discharge is usually a year later, unless you have gambling debts and thats that.
There are also only 3 banks that accept undischarged bankrupts (Nationwide BS Barclays and the Co-op. You accounts are frozen on the day so I would advise withdrawl of funds just before it happens.
I know its really daunting, I was really scared of it, but it only takes a rubber stamp to take all of this stress away.
I hope that this helps, you are not alone and I wish you the best of luck.
lily |
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scaredkez
Junior Member
United Kingdom
194 Posts |
Posted - 24 February 2007 : 22:52:47
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hi maxwell sorry to hear of your struggles, i am facing Br due to a rejected IVA and not so good ip i am afraid, i have 93k of debts and rising now, i have temporary started a DMP in the hope of a new more attractive salary which i haven;t got, anyway i have assets which i will lose mainly my home and car, to be honest after the past 7 months of struggling and trying to do my best to meet the creditors demands BR is the only way out, of course i am scared, i don't know where i will end up but if it puts and end to this misery and the life i am currently living i don't care, what matters most is i have my hubby and the family that i care about most around me, although they may not agree with my actions of BR i have no other choice, you owe money and not your life, my health has not been good and this week after talking to a dear friend lily who you will all see hear as freelili brought a few home truths to me and reality, don't get me wrong i have never met this person or knew her from adam until i posted on iva.co.uk and she has been an absolute rock to me whilst going through her own problems, and i have realised material things dont matter, a house is a house a car is a car, but your life and dear family can never be replaced, i haven't yet gone Br, i am saving the fees, but you will not be able to do anything if you make yourself ill, go for it and please understand we are all here for you no matter what time of day we are all going through the same thing and will help each other through
kerri |
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I have so much debt i feel like it's killing me
