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screwed up yet again - words of advice needed

First of all, I have been a member of this great community for about 3 years now, I am not going to use my usual 'name' for fear of being recognised and disappointing so many people. I have created myself a new 'name' but won't be filling in my profile!! How dark and mysterious eh?

I am so annoyed and angry with myself;

I am returning to that deep dark hole where I have been before.

I am an discharged bankrupt who stayed on the straight and narrow for such a long time. I have recently being going through quite a difficult time both at home and at work. I was recently diagnosed as depressed and have returned to work after nearly 3 months off work and completing a course of treatment by way of therapy which was brilliant.

Unfortunately I have managed to get rather a lot of debt on stupid stupid credit cards. I use my card for work purposes but never seem to pay it off when my expenses are paid into my bank account.

My light bulb moment came last week and I was going to sort out all my finances over the weekend and sort out 0% balance transfer etc etc by sitting at my computer on this website all day!! Unfortunately I received a letter which sent my determination back, even though it should have made me more determined.

I left uni in 1996 with 3 student loans to pay. When my salary was big enough I started to pay these off, unfortunately, through many circumstances, not all my fault, I had no choice but to declare myself bankrupt in 2000 to be discharged during 2003.

I have had no correspondence from the Student Loan Company since 2001 when I explained by financial situation.

On Saturday, when visiting my Dad there was a letter waiting for me. They now say I am £2401.76 in arrears. This is a massive blow to my state of mind and confidence at the moment. My credit cards are well over £5,000 and I am so worried that my husband finds out about the cc. He is so understanding and such a lovely lovely man that I can't bear to hurt him again.

I am not in arrears with my cards, I pay every month. I am not in debt anywhere else and I can pay these but I am so worried that I have managed to get into this situation again.

I am scared to look at my bank account on line. I have had problems with paypal and am overdrawn with my little 'ebay account' but I have no confidence to call the bank and explain what has recently happened. Not just yet anyway.

I am not worried about the repayments, I have a decent job. I am more worried about my husband finding out and my state of mind which has enabled me to get like this.

Does anyone know how I should approach the Student Loan people? Has anyone else had this happen to them? It just seems weird that after so long they are now looking for repayment. In all honesty I thought it had been scrapped due to the time/bankruptcy situation after such a long time not contacting me.

Oh well. It's going to be a long hard road again. Always on edge in case I leave a credit card statement lying around.

Wish me luck, I need it.

Thanks, in advance!!



  • SmellyOldSock
    hi, just wanted to let you know you're not alone.

    I've been a bit silly too, and understand the worry of the hubbie finding out.

    Well done for posting on here, and you've not let anyone down. don't be so hard on yourself.

    best wishes
    Toughest form of moutain climbing is climbing out of a rut
    I WILL be debt free!
    I WILL be happy!
    red pen member 4
  • McKneff
    McKneff Posts: 38,834 Forumite
    Name Dropper First Anniversary First Post
    dont be so hard on yourself is right.

    One way of lightening the load is to pluck up the courage to tell hubby. I'm sure (maybe) after a few expletives he will give you the support you need.
    You cant concentrate of clearing your debts if half your concentration is on worrying about him and leaving statements etc lying around. In fact it will be one less thing to worry about. I promise it will make you feel better, and you will be able to move on a little at a time.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • Bargainfinder_3
    Good luck j-girl, I haven't any advice, but do wish you all the best now you've had your lbm... the road will be long and hard, but much more satisfying. Keep at it xx
    Personal challenge: Do without as much as possible to pay off £12k by 07/2009!!!:T
    Bluejeans Challenge: Spend less - Eat less! Need to lose [STRIKE]4 [/STRIKE] 2.5 stone (:eek:) then maintain until my concert in Dec!!
    Cady's jam jar challenge.. how much will be in the pot?!

    Budget: a mathematical confirmation of your suspicions.
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    Student loans are not wiped out by bankruptcy these days - they used to be, but people were abusing the system by deliberately going bankrupt as soon as they left university, swanning round the world for a year or two before coming home, getting discharged, and finding a job. Try not to panic about this, and I agree with those who suggest you tell your husband. I would want to know if my wife got into debt - I might have a bit of a rant, but it is something we could work out together. It's an old cliche: 'a problem shared is a problem halved', but it is true.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • Idiophreak
    Idiophreak Posts: 12,024 Forumite
    Combo Breaker First Post
    The first thing you've got to do is fess up to the OH...there's not really any space in relationships for secret keeping and the last thing you need at this point is to go screwing things up there.

    Being more financially open with him will also help him to help you stay on the DFW wagon in future...
  • fermi
    fermi Posts: 40,544 Forumite
    First Anniversary First Post Combo Breaker Intrepid Forum Explorer
    Purely on the student loans, it is only for bankruptcies made after 2004 (see below) that student loans are guaranteed to not included in a bankruptcy.

    This is from the Official Receivers technical guidance.
    40.24 Student loans

    Student loans have been made under several pieces of legislation and their status depends on the legislation under which they were made and the date of the bankruptcy. The current position is that in all bankruptcy cases where the order was made on or after 1 September 2004, all outstanding student loans are not provable debts and thus are not released on a bankrupt’s discharge from bankruptcy URL="http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch37-48/chapter40/part1/Notes/Notes.htm"]notes 23[/URL. Further, where the order was made on or after 1 July 2004, all student loans made under the Education (Student Loans) Act 1990 (often referred to as mortgage style loans) were also made non-provable in bankruptcy with the consequence that they were also not released on discharge (in cases from that earlier date) URL="http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch37-48/chapter40/part1/Notes/Notes.htm"]notes 24[/URL.

    Where bankruptcies occurred prior to these dates, student loans may be treated as provable debts and thus be included in the bankruptcy and released on discharge. The dates are 1 July 2004 for loans under the Education (Student Loans) Act 1990 and 1 September 2004 for loans made under the Teaching and Higher Education Act 1988 (often referred to as income contingent loans) .
    You should contact your former OR's office to check whether you are still liable for your loans.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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