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dlm35
Junior Member
171 Posts |
 Posted - 16 April 2008 : 18:28:59
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hi im on income support and mobilaty for myself and two children i have gone through a very bad patch with my nerves due to a hysterectomy 2 years ago . i turned to shopping , and spending money on items i couldnt afford getting deeper into debt . my bank offered me a personnel loan wich i took out for a car , i tried to pay my overdrafts off , my catalouges ect but ended up in more debt , i have debt for furniture . then the people who took the fiance through dfs rang me and offered yet another loan which i took ..its really awfull. i know why i do it i feel comforted when i buy stuff or receive goods.i dont buy anything good or of value , ive givin most of it to charity shops.
i realise i have an emotional problem which the doc keeps putting me on hrt . the banks,catalouges creditcards,finance companys all know i dont work .through ill health.. i must owe over 30000 which i just cannot afford. i rent my house from local council and have no assetts .. im so frightened i might go to prison . my only option is bankruptcy what should i do ?
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 16 April 2008 : 20:32:28
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Hi,
Welcome to the forum,
first of all you will not go to prison for getting into debt.
From the sounds of it Bankruptcy would appear to be your best option.
May i suggest you contact one of the experts or the helpline number for some advice on your options.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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dlm35
Junior Member
171 Posts |
Posted - 17 April 2008 : 10:43:39
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hi if i go bankrupt do i have to close all my bank accounts i have two accounts with tsb which i owe money to . the other is with the halifax which i never use think this has about 5 pounds in ?.also i have had a saving plan with axa for when my son is at the age of 21 would this be affected ? also my daughter has savings of 3000 wich she is only allowed to receive when she is 21 , can they take this ?
my income support is paid directly into my tsb accounts along with my mobility and wondered do i continue getting payments put in there or should i change ? if i can .. will anyone require receipts or proof of what i have spent money on, i have borrowed in the past as i cant really account for alot of stuff . theres all my statements from bank and statements from catalouges and fianance ect but when ive looked theres alot of goods ive bought and not got receipts..will i have to go to court through all this ?
how long does it take to go bankrupt ? if i do go through with this ,which under my circumstances i will have to will all my creditors leave me alone ? does someone tell them im bankrupt officially ? thankyou
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melanie_giles
Senior Member
1191 Posts |
Posted - 17 April 2008 : 22:13:10
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Hi there
Firstly - the bank accounts. Your accounts will all be frozen on the day of the bankruptcy hearing, but can be made operational through discussion with the OR and your bank. I would draw all of the money out prior to the hearing, so you have enough to meet your most immediate bills.
It might be a good idea to check up on the policy of your banks allowing accounts to bankrupts, as some banks do not like this and you may be forced to open a new account elsewhere.
The Official Receiver will want to have an understanding of the reasons that have led to your bankruptcy, and this will involve a brief examination of your creditor statements.
With regard to timing, this will depend upon this listing of your individual Court. If you can tell us the town in which you live, we can check up for you as to the anticipated timescale. Once a bankruptcy order is made, the OR will deal with all creditor related matters.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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im so frightened i might go to prison
