Going bankrupt at 23.. :(

DEBT_23

im in a very big mess
all started when i was 18.. the banks gave me
£7500 personal loan
£3000 credit cards x2
£4000 personal loan
defaulted on them at 20
i have a mortgage that keeps rising and at 23 i have also got a--
£10,000 welcome secured loan. ( dont ask !!)
£1000 credit card
plus what i owed from 18 .
nearly £30,000 in total.
im struggling to live at the moment skint 3 days after pay day each month) with all the payments i have to make
i struggle to sell and i wont even walk away with any of my deposit.
Im in a terraced house and paying nearly £500 mortgage.
im also in a career to which i could lose due to going bankrupt ( its a no no in my prefession)
i just want to go bankrupt and walk away and start a freah as hard as it will be being bankcrupt. i could rent a room at freinds or rent cheap if i do go bankcrupt !
to top it all off i could be pregnant tho its very early days ( awaiting results)
and i dont want a baby in all this mess.
i cannot afford a IVA and a DMP will take me forever on the unsecured loan.
im also in mortgage arrears tho im in a arrangement with them.
please advise me. i have no family and my friends dont know the mess i am in.
the are a few ppl at work i know have been bankcrupt tho they are a lower rank than me. i persume worse case would be i get demoted..which its stil a wage !!
I have had a mortgage from 18 and tho i dont want to leave my house i cannot carry on living like this . id rather rent and have a good sleep and life than carry on like i am doing.

Purplekylie22

Im 22! and owe 21K I dont even have a house to blame some of it on, no expenses e.t.c just me and a council flat!

Your defo not the worst! :-)

you need to get a flat to rent and move make sure you stop paying all your bills and save for your bankcrupcy fee. Your first move thought should be one of the debt helplines!

DEBT_23

Im due to ring one this afternoon who do you recommemed CCCS, CAB? ?

k2nga

I would give CCCS a call but to me it looks like you need to go BR to start again. Depending on your job i am guessing you may well not find it to hard to find another unless of course you are pregnant but you can only ask your employer on that.

With BR you do get a fresh start there is no doubt about that. See what CCCS say and let us know.

Purplekylie22

I actually went to Trading standards, they were a huge help to me and put me in touch with a professional for fee! but CAB should be pretty good. you might have more luck speaking to someone at CCCS though as CAB are usually busy.

Try not to worry about the possability of being pregnant - put that to the back of your mind for a week or two at least so you can concentrate on this, once you see a light at the end of the tunnel you might feel more posative about pregnancy.

G-G_4

I went bankrupt last year, aged 24 with about 50k debt.. :eek:

There is life after bankruptcy though i've never been happier to have a basic bank account and no credit cards

It's not all bad, you get rid of the debt, lose the house, go into rented etc etc.. you will find a way stay strong.. x

DEBT_23

thanks all. i am looking forward to start afresh. if i lose my career i will have to get a new career. either going back to education or gettin a job etc. i wont lose sleep over losing my career i have had enough with it anyhow. its just harder finding a job while bankrupt isnt it?
would i have to tell my work place about going bankrupt? or would they be contacted by someone else? id rather not have to tell them if i cud help it

Purplekylie22

DEBT_23 wrote: »

thanks all. i am looking forward to start afresh. if i lose my career i will have to get a career.
would i have to tell my work place about going bankrupt? or would they be contacted by someone else?

Im wondering this myself...

k2nga

I cant see any reason why your employer should need to know as long as you dont hold a senior position. If you are concerned the OR will give you guidance on this but i dont think there are many restrictions

dalip

Morn and welcome to the forum. There are a couple of numbers you can ring in my signature or you can do a debt thingy on line at NDL website which also gives you a ref number for when you ring them. You may have to wait for a appointment with CAB as they are inundated with calls.

Whilst you are waiting to ring a debt helpline, you could also ring your local court to see what sort of bc system they operate,some are just drop in others appointments. Again some are booked for wks in advance.So may be a good idea to ring and get yourself some idea of a time scale.Also ask how many copies of the SOA(statement of affairs) they require as this varies too. The fee is £495 to declare yourself bc so bear that in mind when thinking about a date. Good luck with the call and lets us know what they reccomend.

Once a charity has recc bc for you personally, we can help all you want/need.D

DEBT_23

Thanks all.
i will update once i have called them.
So there is no reason why a OR or someone dealing with my bankruptcy will contact my work? im worried they have to know.