Help! Im making myself bankrupt!

romy22

I'm making myself bankrupt next week and I'm panicking like crazy. To cut a long story short I entered into a DMP in 2004 and since I've kinda hidden pay rises from them so I could pay less and last year my husband left me whilst I was pregnant so I have taken more credit out and in the last 7 months I've got £5000 more of debt and part of that is a 50" plasma TV. I'm worried that I will be in trouble as that is not exactly a necessity and I shouldn't have taken any more credit out but I couldn't live on the money I had and I naively thought that I would be able to pay the money back. I know I've been really stupid and I'm doing everything I can 2 save money. I also would like 2 save to buy my own car as at the minute as I'm borrowing my ex husbands car n he could take it off me whenever he wants but would the OR let me save for a car when I already have the use of 1? I'm terrified of meeting with the OR cos I'm going 2 have 2 explain where all my money has gone n I don't even know. It just seems 2 have disappeared. If anyone has any advice I would really appreciate it. Thanks in advance.

tigerfeet2006

The first thing you need to do is make sure you have taken advice on BR with one of the debt charities in my signature. You must do this as the judge could pospone the your petition untill you do.

Have you had any help filling out your forms?

The only thing you can do with the OR is to be open and honest but don't offer any information unless asked.

All the best with it all and keep asking questions and also welcome to the board.

So_Sad_Angel

Hi Romy22

Welcome to the board Honey.

Really...whats happened..has happened & you can`t change the past.

I think you should speak to the debt charities CCCS , Nat Debtline and/or CAB to get a grip on your current position. It is all confidential but well worth having that conversation.

Please let us know what happens. The numbers are at the top of the page.

Take care Hun, Angiexx

So_Sad_Angel

As ever TF beats me to it!!!

Note to Angel....learn to type quicker!!!!

romy22

I went to CAB and they told me their debt specialist would get back to me in 1 - 2 weeks, its now 9 weeks later and I've not heard a thing from them despite ringing and laving messages. I was getting desperate so I rang National debtline and they told me to make my appointment with the court myself so I have done and I've filled the forms out on my own and when I got stuck I rang the number on the insolvency website. Do you think that will be enough?

romy22

Is there any1 I can go to to check through my forms except citizens advice

peachyprice

As long as you've filled in all the section you should be fine, when you get to the court the clerk checks them and makes any changes if necessary.

Can you post your income and expenditure bit on here so we have make sure you're allowing for everything.

fermi

romy22 wrote: »

Is there any1 I can go to to check through my forms except citizens advice

Might be worth seeing if CAP have any advisors in your area. In MSE's Non-profit Debt Counsellors' List article Martin says regarding CAB and the other advice agencies being busy:

Unfortunately they can be oversubscribed. If it takes time to get an appointment with them, use the info on their websites to start to plan. There may also be a local debt councillor in your area, such as Christians Against Poverty (not about religion even if it sounds like it) but ensure it is a non profit/Charity.

Their site says:

4. INSOLVENCY / BANKRUPTCY
If you are in severe debt then we can walk you through insolvency, like petitioning for bankruptcy. We can help you to fill out the forms and even attend court with you.

There have been a few people on this forum who have used them and found them to be quite good.

Otherwise, if there are particular parts of the form that you are unsure about then you can try asking us. We've been there and done them.

romy22

There isn't a CAP in my area. thanks anyway.

My income and expenditures are-

Wages £409
Benefits £817
Child Maintenance £195

total £1421

Outgoings
Debts £475

Rent £450
Gas £85
Water £26
electric £40
phone £60
Council Tax £58
Petrol £60
Clothing £30
tv license £12
Car insurance £43
Home insurance £14
Car Tax £18
Repairs/Servicing £20
Sky £19
Food £270

total £1679


Thing I havnt included are playgroup, haircuts, newspapers/magazines, postage/stationary. Is there anything I've missed out? Should I include these? Also I need more money for clothes but I dont know if they will let me use more than £30. I've lost 3 1/2 stone since having my daughter so none of my old clothes fit and my daughter seems to be getting through loads of clothes.

DEBT_23

if your going BR STOP payin your debt.if you havnt already.
One of the more professionals will be along shortly to help you.. im still a newbie

shadowdragon

romy22 wrote: »

There isn't a CAP in my area. thanks anyway.

My income and expenditures are-

Wages £409
Benefits £817
Child Maintenance £195

total £1421

Outgoings
Debts £475

Rent £450
Gas £85
Water £26
electric £40
phone £60 This is high IMO is it combined with Web Access and a contract phone?
Council Tax £58
Petrol £60
Clothing £30
tv license £12
Car insurance £43
Home insurance £14
Car Tax £18
Repairs/Servicing £20
Sky £19 This is not allowed on your BC SOA
Food £270

Add hairdressing at 10 per adult and 5 per child
Dentist/optition 12 per month.
Perscription 10 pm (unless you get them free)


total £1679


Thing I havnt included are playgroup, haircuts, newspapers/magazines, postage/stationary. Is there anything I've missed out? Should I include these? Also I need more money for clothes but I dont know if they will let me use more than £30. I've lost 3 1/2 stone since having my daughter so none of my old clothes fit and my daughter seems to be getting through loads of clothes.

You cant put stuff like newspapers/magazines on your BC forms things liek that come from your surplus.

Take the Loans off your SOA for your bankruptcy forms as you wont be paying them when your BC, and will give a true reflection of your Income and Expenditure.