any help or pointers??

Jacks_xxx

Hey Alan,

I know many happy bankrupts and it's definitely an option to look at it, but as with all directions you could go in take the time to research all about it and think hard about what it'll mean for you and your family. The only concern I would have first off the bat is where are you going to live?


You know how some women (Oh god I'm probably offending people here !) can't see past "The Wedding Day" to the marriage that comes afterwards?

Well when you've been in desperate debt it's hard to see past "The Solution" (whatever it may be) to what comes afterwards so it's important to see bankruptcy as a beginning of something - not just an end.

(I hope that doesn't sound patronising)

I would definitely have a good read on the Bankruptcy board and ask them all your questions. They're a really lovely, supportive, friendly and helpful bunch. I had a good lurk around there when we were considering bankruptcy as an option.

http://forums.moneysavingexpert.com/forumdisplay.html?f=136

Also I keep forgetting to ask after your missus. Is she feeling any more optimistic about all this yet?

Love Jacks xxx

tealady

Hi confused. I know you have had a lot to take in but there is a lot of help out there. I would back Jacks up on her suggestion, the BR forum have some lovely peeps who have been through the process and have survived. However as CCCS have given you various options you need to think carefully about the pros and cons. In the meantime have you had a look at the Up your Income thread, there might be some ideas there you can use.

deedee_3

Don't know if anyine has posted Martin's excellent article on IVA's yet, so just in case here it is.
http://www.moneysavingexpert.com/loans/pdf-iva-guide.pdf

Come and have a chat with us on the bankruptcy board, we don't bite and will answer any questions you might have.

If after doing your research you think a DMP or IVA will be more viable then make sure you do it through CCCS rather than a corparate IVA factory.

confusedone

once again, i have to say thanks to all here!! so glad i found this place.

anyway, i may be better posting this on the br forum, but as there is so much here about our situation already i thought i would try it here. so please what do you think??

If we do consider the br route, what do people think? cccs suggested that if we are want to get out of debt AND are not bothered about our house, then br is a very realistic option. one idea for actually getting the money together for rent and deposit, and of course the br application charges, was to just not pay any loans. cancel direct debits, and not pay the mortgage or secured debts, as we are not concerned about keeping the house either. sounds very strange to us, always worried about paying on time, to just NOT pay???

so if we were to take this erm option, should we not string it out for say 2 months pay, but KEEP the money, and when we went to court we explain that we still have all the money for the debts but could part of this be kept for the 1200 needed for rent and bond?? if they take into account 'reasonable living', would this be appropriate??

very scary stuff. alanx

deedee_3

Alan there are several people who have been in your situation with the house on the bankruptcy board, please post this question over there with maybe a link to this thread.

Meanwhile I will just find a couple of links for you from the board of people that have done this. BRB.
http://forums.moneysavingexpert.com/showthread.html?t=596237&highlight=diary

http://forums.moneysavingexpert.com/showthread.html?t=620013&page=5&highlight=diary

http://forums.moneysavingexpert.com/showthread.html?t=887297&page=45

confusedone

HI all again, ok one quick question.
this card i posted a few weeks ago, is it the basis i should be going on even if it is just me that is applying for BR, i mean all the debt is in my name alone, as is the house but we are walking away from that anyway in the next couple of weeks.
i've asked a similar question on as a seperate thread, but thought id ask again here as my card is actually on this one. im aware that the OR will take into account my wifes income, but is this right if she is not actually applying for BR? this would definately affect how much the OR decides I should be paying back???
many thanks with any help or advice!

moo2moo

Confused. There are many many ways of cheering your wife up without spending money. Take your son for a toddle and pick her some flowers, doesn't matter if they are dasies or dandelions, as a mum theres nothing nicer than a small happy muddy child presenting you with a bunch of crushed half dead weeds that they've collected themselves. Its most definately the thought that counts.

For all you feel that youu are in a truly awful place you do still have more money coming in than going out and with £300 for groceries each month the thread "how to feed a family of 4 on £20 for a month" http://forums.moneysavingexpert.com/showthread.html?t=1129333 will be a bit of an eyeopener.

We have a combined debt of £38,500. We both work, have 2 children and my boss was understanding enough when I explained the pickle we were in that instead of paying £500 a month in childcare I now take the DDs to work with me. Fortunately I'm in the sort of place thats safe for them to be. There is always a solution its just sometimes hard to know what it is.

The bigger question is how did you get into debt in the first place and what will stop this happening again if you do go for BR?