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Bankrupsy or not?

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Just looking for advice as I've got in a bit of a mess running up huge debts expecting to clear them when I sell my latest reno project but prices have dropped and I won't now get enough even if I do get a sale to clear the debts and the mortgage. I can't keep paying the cards, doubt I'd get a loan as my wife has lost her job, would I be better off going BR?

Comments

  • DON79
    DON79 Posts: 3,842 Forumite
    I think the first thing to do is to talk everything through with one of the debt charities who can go through it all with you and tell you what your options are. Bankruptcy needs a lot of thought, floor pacing and nerves and thats before you even decide if you will do it or not or if it is the right thing to do.

    The numbers are in the sticky at the top of the forum.

    When you say project in reno - do you mean a house abroad I take it? :o Doh! Renovations - just realised!!!

    Donna

    p.s. can you tell us anymore about your situation i.e. are you working, homeowners, on debt management plans already etc?
    BSC #215/No.1 Jan 09 Club
  • Lensman_2
    Lensman_2 Posts: 1,506 Forumite
    Part of the Furniture Combo Breaker
    Reno = renovation. I think...
  • DON79
    DON79 Posts: 3,842 Forumite
    doh! yeah renovations - gosh how dumb do I look! :o:o:o House in Reno! :doh: :doh: :doh:

    this post does not make me worthy of my fourth medal either! lol! :o:o:o
    BSC #215/No.1 Jan 09 Club
  • Lensman_2
    Lensman_2 Posts: 1,506 Forumite
    Part of the Furniture Combo Breaker
    DON79 wrote: »
    doh! yeah renovations - gosh how dumb do I look! :o:o:o House in Reno! :doh: :doh: :doh:

    this post does not make me worthy of my fourth medal either! lol! :o:o:o
    Err - WRONG.

    (S)He who never made a mistake while posting advice - has never actually posted advice.

    Confucious never said that BTW, but if he was a member here he would have...
  • *MF*
    *MF* Posts: 3,113 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Apologies (sincere) in advance if I am wrong ... but if you refer to the link below - I think there may be some doubt about the authenticity of the OP:

    Go here:

    http://forums.moneysavingexpert.com/showthread.html?t=1586579


    PS: I hope I am wrong - because if I am right - I am far from sure the OP is in order with the post.
    If many little people, in many little places, do many little things,
    they can change the face of the world.

    - African proverb -
  • DON79
    DON79 Posts: 3,842 Forumite
    Hmm! doesn't look good, probably waste of time then.

    ah well, proper people to help, things to do etc etc
    BSC #215/No.1 Jan 09 Club
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