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Finally going to do it!
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Waspeze
Posts: 2,479 Forumite
Hi, i've been browsing this forum for a while now and its been so reassuring seeing how people have gone through this process and survived intact 
A little run down on my situation:
Over the last 10 years or so my finances have gone from bad to worse, I can't say a lot of it isn't self inflicted but unfortunately when I realised things were bad it was too late.
A couple of years ago I lost my job and starting temping with an irregular salary. Due to my existing credit card and loan debt I was really struggling to stay on top (i'd always paid everything on time and had a really good credit history) so I went to HSBC (my bank at the time) and asked if they could help.. they said I was pre approved for a £25k loan, despite only temping with my salary a lot less than it had been, I ended up taking one for £21k though it didn't quite pay off everything, one thing led to another and struggled with the high payments and cards went upto their limit. I phoned cccs and they advised me to go bankrupt which I was all set to do when I landed a new permanent job on much better pay, I figured I could make it work so held off by now I was dealing with DCA's and had arrangements for some of my debts though a couple hadn't got hold of me.
Then a few months ago my landlord decided she wanted the house back (i had been sharing with some friends and their baby) this meant I had to get my own place so now my rent has doubled and obviously bills etc are now on my own. I've struggled to meet payments and all bills and DCA's are in arrears and I now have a judgment that I was supposed to start paying 1st March (no idea how they worked out the amount as there is no way i can afford it). Phoned CCCS again and they were very helpful and said that bankruptcy is still my only viable option as it would take me well over 10 years to get things paid off.
So here I am, looking to do it on the 17th March, phoned up the court to book it but they said they only took bookings a week in advance so have to phone next week.
I'm not really asking any questions at the moment but i'm sure I will once the forms arrive
A little run down on my situation:
Over the last 10 years or so my finances have gone from bad to worse, I can't say a lot of it isn't self inflicted but unfortunately when I realised things were bad it was too late.
A couple of years ago I lost my job and starting temping with an irregular salary. Due to my existing credit card and loan debt I was really struggling to stay on top (i'd always paid everything on time and had a really good credit history) so I went to HSBC (my bank at the time) and asked if they could help.. they said I was pre approved for a £25k loan, despite only temping with my salary a lot less than it had been, I ended up taking one for £21k though it didn't quite pay off everything, one thing led to another and struggled with the high payments and cards went upto their limit. I phoned cccs and they advised me to go bankrupt which I was all set to do when I landed a new permanent job on much better pay, I figured I could make it work so held off by now I was dealing with DCA's and had arrangements for some of my debts though a couple hadn't got hold of me.
Then a few months ago my landlord decided she wanted the house back (i had been sharing with some friends and their baby) this meant I had to get my own place so now my rent has doubled and obviously bills etc are now on my own. I've struggled to meet payments and all bills and DCA's are in arrears and I now have a judgment that I was supposed to start paying 1st March (no idea how they worked out the amount as there is no way i can afford it). Phoned CCCS again and they were very helpful and said that bankruptcy is still my only viable option as it would take me well over 10 years to get things paid off.
So here I am, looking to do it on the 17th March, phoned up the court to book it but they said they only took bookings a week in advance so have to phone next week.
I'm not really asking any questions at the moment but i'm sure I will once the forms arrive
:hello:
Save a little money each month and at the end of the year you’ll be surprised at how little you have.
An eye for an eye only ends up making the whole world blind
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Comments
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Hi and welcome to the board. Well done on taking the steps you need to, to get your life back under control.
Ther eis plenty of experiance here if you need help with anything.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
Thanks Tigerfeet, it was reading all the other threads and seeing how friendly and helpful everyone was that made me decide to join and write something.
I'll post my Income and exp when I receive my forms as will need to go through everything in detail!
One quick question though, i'm sure I have debts that i'm not aware of e.g utilities from old flats, would these show up on an experian report? i'm planning to get one before I fill the forms out as worried i'll miss something!:hello:Save a little money each month and at the end of the year you’ll be surprised at how little you have.An eye for an eye only ends up making the whole world blind0 -
Any debts you have even if you don't put them on your forms are included in your BR, with a few exceptions like student loans. This is why your BR is recorded on the London Gazette and in the local paper, this gives creditors time to come forward and register an interest in your estate.
So if a creditor comes out of the woodwork sometime down the line with a before BR debt you can give them your BR details and tell 'em to BOGOF!!:DBSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
Ahhh I didn't realise that. I'll still do the experian report as it'd be good to know just how bad things are but it's a bit of a relief knowing that nothing will come out of the woodwork at a later date!
Thanks!:hello:Save a little money each month and at the end of the year you’ll be surprised at how little you have.An eye for an eye only ends up making the whole world blind0 -
No problem Waspeze. If you are checking Experian it might be worth checking the other 2 as well.BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0
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Will do :hello:Save a little money each month and at the end of the year you’ll be surprised at how little you have.An eye for an eye only ends up making the whole world blind0
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Got my forms in the post today so going to spend a fun weekend with them
Have a question though before I start regarding smoking, I know it's not included as an "expense" but I was wondering if NRT's could be used as i'm seriously considering trying to pack it in? (patches, gum etc). Ive twice been advised to quit (punctured lung and acute bronchitus (sp.) a couple of years ago) and have (stupidly) ignored the advice and carried on.. bit of a catch 22, i smoke because i'm stressed, i'm stressed because of my money stituation and I could help a bit with my money situation if I didn't smoke!
It's just a thought and I think I know what the answer is already, just a shame if they could be used it could ultimately reduce my expenditure by quite a lot but I'm guessing the OR wouldn't see it like that? :hello:Save a little money each month and at the end of the year you’ll be surprised at how little you have.An eye for an eye only ends up making the whole world blind0 -
If you get your Dr to prescribe them for you then you can claim for your prescriptions if you don't get them free
. BSCno.87The only stupid question is an unasked oneLoving life as a Kernow Hippy0 -
Good call, hadn't thought of that :beer:
I'm sure i'll have some more questions over the weekend as the form looks pretty daunting!:hello:Save a little money each month and at the end of the year you’ll be surprised at how little you have.An eye for an eye only ends up making the whole world blind0 -
One thing i've realised by going through my statements is that every month i tend to pay a fair bit to my friends to pay off money they've lent me, this shows as a relatively large cash withdrawal every month, I know from reading other threads that the OR doesn't like this as it appears that i'm prioritising who i'm paying off (which I am doing to be honest as have had money lent to me in good faith by friends and don't want to let them down). By looking at the amounts I don't think i can just say the withdrawals were for normal living expense, has anyone else been in this situation?
Just wondered how the OR would react to this!:hello:Save a little money each month and at the end of the year you’ll be surprised at how little you have.An eye for an eye only ends up making the whole world blind0
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