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Going bankrupt...
safeashouses
Posts: 124 Forumite
Is this a better idea than trying to pay off debts? We jsut seem to spiral out of control. Every time we remortgage or sort our debts out we get charges from something else that we cannot honour. I am beside myself. I know we would lose the house etc but wonder if it might be a good idea? We have 4 small children and I cannot go on like this....
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Just above your post is a banner with recommended debt help agencies. These are charities and will not charge you for helping. Please ring one of them now for a chat.
I am not an expert, but can send you a <<<hug>>>. You are not alone, there is so much help and support on this forum.It is never too late to become what you were always intended to be0 -
you should read the leaflets on https://www.insolvency.gov.uk, especially 'guide to bankruptcy' amd 'what will happen to my home'0
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I dont think bankruptcy will help you if you have consolidated a few times before as it sounds you need to tackle the problem of over spending not go bankrupt.
Post a list of your in commings / outgoings debts + interest rates and there may be another way out but expect it to involve a lot of work.If it doesnt pay rent sell it.
Mortgage - £2,000
Updated - November 20120 -
roswell wrote:I dont think bankruptcy will help you if you have consolidated a few times before as it sounds you need to tackle the problem of over spending not go bankrupt.
Post a list of your in commings / outgoings debts + interest rates and there may be another way out but expect it to involve a lot of work.
Thankyou - the problem is that we have more outgoings than we can manage, mainly beacuse my husband has changed jobs and is now on less money. We had committments - car loan etc that had to be continued which we cannot really afford. Will post my list of outgoings etc later but I cannot see a solution
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