Helping my dad through bankrupty please help me!

Jamex_2

Hello all,

I am 17 and live with my dad, my dad is going through a very hard time im going to try and explain it to you as best as i can and i really hope you can help me with my questions.

First of all he went through a divorce with my mum and the house that they own has the mortgage to pay off still etc, anyway he settled for 40% of the house value (the house has being up for sale for a long time now) and my mum keeps trying to get more and more money out of him.

He went self employed before the divorce and basicly was left in a situation where he was getting in no income and had to retrain, He trained as a gas engineer borrowing money from his parents. Now we are renting at 500pounds a month + gas and electric which is about 60pounds (we dont use heating at all). Anyway he has lots of debts 5k+ and about 1.5k to the plumb center which he needs to work. And everyone is wanting money off him, he has made them smaller buy telling the people he owes that he cant pay that much.

We are in such a bad situation right now and he is very depressed, i was talking about bankruptcy being a option. But i really dont know all that much about it, only what i have read. (I told my dad to ring a helpline but he refuses because he is depressed and wont talk to anyone. Always telling me that he would be happier if he was dead and never woke up).

I really need some light on this, if he went bankrupt what would happen. We really dont own that many assests and we cant lose the van otherwise we would never be able to get to work.

I am also his apprentice but he doesnt pay me because we dont get any work.

PLEASE help me i am scared for him and i hope you can tell me the options!


James.

I thank you for taking the time to read this in advance.

HHH_2

Goodness I really feel for you, your dad should be very glad to have a son who is so caring and mature. there are several options for your Dad but I suspect his depression is getting in the way of doing anything about it. Do you have a Youth Enquiry Service (YES) in your area if so go and have a chat with them and they may be able to offer some support and practical help for you. If you are not earning any money I presume you will be entitled to some benefits. YES should be able to help you with this. A telephone call to CCCS or a visit to their website might help show your Dad that there is a way out of this. You are a remarkable young man to be dealing with all this on your own. keep posting and people will do what they can but you really do need someone you can talk to face to face to help you sort out your entitlements and in turn that may help your dad to sort out his. can you get your dad to go to the doctors because it sounds like his depression needs sorting out, ask him to do it for YOU. good luck and keep us posted

Kmac_Edin

I didnt want to read and run, James you are such a wonderful son to your father.

I dont have anything to add to what HHH has said, but certainly do you have anyone you can talk to about this? You'll be amazing at just how much better you'll feel.

Keep posting here because people are always willing to help and offer advice and guidance.

Do you go to school or work or anything? Is your dad still working? You will be entitled to some form of benefit, but I'm certainly not the benefit expert here, but check that out with your local county council or go to http://www.entitledto.co.uk/ to see if there is anything on there to help.

Kmac x

GeorgeUK

Hi James.

Well done for posting.
There are a few options that your father may be able to choose from before even bankruptcy - tell him to forget about dying; funerals are too expensive nowadays.

There are some free debt charities that you can contact that may be able to assist with advice and setting up a debt management plan. It sounds as though these reduced payments that your father has arranged are along the same lines, but the charities may be able to get the interest stopped if it isn't already.

This board is full of advice and support for those in debt - just take a look at my signature.

I would encourage you to discuss looking at this forum. He doesn't need to put up any details if he doesn't want to, but seeing how others are dealing with their debts may give him some ideas of how to deal with his.

First, he would need to do a statement of affairs so that he knows exactly where he stands with regards income, expenditure and debt. This calculator is a good help in doing that. If he wants, he can also post it up on the board for others to see if there are any areas in which savings can be made.
https://www.makesenseofcards.com/soacalc.html

These are the free debt charities that may be able to help. I would recommenf CCCS in the first instance - he or you can phone them for just a chat if you are unsure about using them.

Professional, free and impartial advice on debt problems can be obtained from several charitable and 'not for profit' organisations. They never make a penny from the advice they give, which means it will be given with only your best interests at heart. You can contact:

Your local CAB Office and ask to speak to a 'money advisor'
The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111
National Debtline - Tel: 0808 808 4000
Payplan - Tel: 0800 917 7823

RAS

James

Firstly, well done for coming here to try and sort things out.

it does not sound like things are easy for either of you at the moment. There are a number of ways to sort this out, one of which may be bankruptcy. Even if you cannot get him to call the telephone line, you can talk to them about your situation so you know all the options.

IF dad decided to go bankrupt, then the equity in the hosue would be an issue but the van would be safe. However, there are lots of ways of ealing with this.

The other thing you might find helpful is to contact someone like Childline who can put you in touch with people who can support you and help dad get the support he needs for his depression. I know you are not a child, but in law you are and their phone lines are free.

Jamex_2

Thank you for all the replys,

I have told him about the help lines but he says its wasteing time he hasnt got but eventually told me he would have to get all the information together first otherwise they would send him to get the information.

I will keep you updated on the situation and thankyou for making me smile with the funeral joke george

James.

Quincifer

Hi James,
Well done for coming on here, its probably the best place for you to get advice on what you can do.
I imagine it must be frustrating for you as you probably feel that you can't do much in this situation but you have to stay strong for your dad aswell as yourself.
The advice is pretty much the same from me, contact CCCS. They have helped out a lot of people on this forum and even if your dad isn't up to ringing them just yet then you should give them a call and see what help they can give you for the time being.
If you ever feel a bit trapped or worried then feel free to drop me a message, i'm only 23 myself and have been through a similar situation to yours with parents divorcing and then having to help my mum out of alot of debt problems. I'd be more than happy to talk to you about it all.

Good luck xxx

RAS

James

CCCS have a debt remedy on-line which your dad might find easier if he is one of those people who do not like phones (like me).

Remind your dad he is lucky to have such a great son as well.