Help and support desperately needed for bankrupty

singlemammy

I've only joined here tonight but after half an hour it's given me so much info, however I need some brains to pick!

I'm in debt for about 50k this is down to a failed pub business i leased, i sold my house and put 50K into the business and 18 months later I was forced by my business manager to abandon or be removed by the bailiffs.

I have a son who is 22 months so i abandoned. My partner was sick so he's now living with his family not in england so it's just me and my son on benefits in a rented house with not one asset left as I stupidly put in everything I'd ever worked for. I'm thinking that bankrupty is the only way to free myself of all his debt but unsure and also I want to know what will happen if i go back to work part time, how mush money will they want and does it matter when I go back to work?

I've grieved so much for all that I lost and my sleepless nights are still frequent, how do I escape this mess?

philnicandamy

first thing you need to do is contact any of the free helplines in my sig below...you wouldnt be punished if you decided on going back to work the official receiver would only take a % of what you had left over £99 a month and thats after you have paid your day to day expenses...if you dont have a surplus of cash every month then they wont take..anything else just ask & we'll happily do our best to help & support you...glad you found us & welcome

HTH

Phil

tigerfeet2006

Hi and welcome to the board. You will get a lot of support and help here so don't panic.

The first thing you must do is ring one of the debt agencies tomorrow morning, start with Business Debtline. You must do this as the judge will ask if you have taken professional advice and can postpone your petition untill you have. Numbers and links in my signature.

Ask anything you want and we will try to help as much as we can.

EDIT: Phil got there faster

tight_jock

Hi Mammy
As Phil says, you need to get free professional advice from one of the agencies in my sig.

It is possible to work and still not pay anything to the OR from your wages as long as you do not show a surplus. Trust me, you will be surprised how much you can account for in your I & E sheet with a little help from those on here.
Lastly, you must do what is right for you and the little one. If you carry on with a mountain of debt it will impact on your wee bairn. Think of them when you make your decision ( after speaking to an agency)
I wish you well with your journey.
you have taken the first tentative steps by coming on here.
You will get the best support available from the good bods on here.

:beer:
TJ x

philnicandamy

EDIT: Phil got there faster

Hmm bit of a late edit 6mins later than I posted :rolleyes:

betterlatethannever

Hi SM,
you've had some great advice already so i won't repeat it.
You tried your best and gave it all you had. Now its time to concentrate on you and the little un.

It will get better and you will sleep better at night.

Keep posting any questions you may have and someone will answer then and help and support you along the way.

Good luck..

singlemammy

Tonight was going to be a sleepless one, but thanks to your advice and taking the time to read and help me out I feel better, I'll get cracking tomorrow, Thanks so much, I'm sure I'll have more questions to come.

:T

susieh_2

Welcome,

Just wanted to say you're not alone in this, myself & oh went B/R in June 2004 after running a pub for 3 years and had to leave with absolutley nothing & still living with the consequences (though things do get easier in time even if you don't feel it at the mo), more recently there was a thread from "forestpottsy", (sorry don't know how to add links) who has just gone through exactly the same.

If you need to ask anything specific, please ask & will answer if I can,

Best of luck

Susieh

Dez-Titute

Hi Susie,

I think this is the link you are looking for

http://forums.moneysavingexpert.com/showthread.html?t=838399&highlight=forestpottsy

The following link shows there last whereabouts

http://www.youtube.com/watch?v=7q7K1bBhjkY

susieh_2

Thanks for help with the link, perhaps you should also view the following.... again sorry can't post link, its on the housing forum, get your tissues ready, I certainly needed them, & perhaps I don't need new wardrobes after all!!.... message of hope for all, scousebird

Susieh

singlemammy

Thanks again for all the advice, I feel so much better again, I think once i got over the shame of it all in my own head mostly by the support on here I'm ready to face it. They can't take anymore than i've lost as there's nothing left!

singlemammy x