BR stories, good/bad

oliviarosejackson

Hi everyone,

Was wondering if there were any people out there who would mind sharing their life before and after BR. If they are glad that they did it?? Regret their decision?? How thier lives have been affected since becoming BR. Has it work out for the better/worse.

People on here are going to get sick of me asking soooooo many questions about the subject. But I would like to get as many different views on BR as possible.

Thanks for reading and enjoy reading peoples posts :beer:

skylight

TBH, there are too many stories to post on one thread! Its more a case of slogging through the mass of posts, diaries etc

Although I don't recall coming across anyone who regretted their decision!


And ask away. Thats why the board is here!

oliviarosejackson

Thank you for the reply skylight.

Main thing that is worrying me is regretting it later on in life, when it comes back on me. If ever I come to want a mortgage for a house and I am constantly refused, or have to pay a huge interest rate because of the BR.....

skylight

Well, your BR is on file for 6 years. Mortgages are open to all and although in the first few years interest rates are higher than usual, they will settle down. And when you are ready, you go to a financial advisor - they can search thousands of mortgage deals and will know who not to approach etc.

At present, (but not discharged) I am personally not regretting one minute. If I can afford a mortgage in the future (with my current circumstances, will be a long way off!) then I will deal with any issues then. But life is for living now, planning about the future etc is one thing, but to worry about it is another.

oliviarosejackson

Thank you again skylight.

It will be a very long time before I will be able to get a mortgage. Its just something that I hope I will be able to do in the future and was worried that BR would affect it.

You have a very good outlook on life and that outlook keeps popping up in my head more and more at the moment. I am restricted to what I can do, etc and worry about every penny, where it is all going to come from, etc.... And I keep thinking that life shouldnt be like this.

So I keep thinking do I want to be tied down to my IVA for another 4 yrs with the terrible company that I am with now... Or just bite the bullet and go BR and start afresh. Give my daughter the life she deserves, instead of not being able to give her anything because I have no money.

deedee_3

I have started a sealed tin whch I have been putting all my spare change i+n. I nave opened my 3rd tin now and have a tidy chunk in my 3rd Co-op account. If there is money left in the housekeeping account (no.2 account) at the end of the month be fore payday, even if it is pennies it is transfered over to no. 3. At the end of the financial year if there is any pennies left in the bills account (no.1) then this will be transfered.

As soon as I am discharged I will open a savings account/ISA and it will all be put in there. This will be my mortgage deposit account. I will be saving even more hopefully once discharged,.then when the bankruptcy falls off my credit reference file I am hoping to have a lovely fat deposit for a house.

fiveyearplan

oliviarosejackson wrote: »

Thank you for the reply skylight.

Main thing that is worrying me is regretting it later on in life, when it comes back on me. If ever I come to want a mortgage for a house and I am constantly refused, or have to pay a huge interest rate because of the BR.....

I suppose you just have to weigh up the pros and cons and for most people on here unburdening themselves of the debt and endless phone calls, letters and threats outweighed and bad points of BR.