need some advice about bankruptcy

jane130

I really need some advise , we are being threatened with bankruptcy by one of our creditors, how and why we are in debt is a whole other story that will take too long to type , can i just say we were stupid and didn't take it seriously enough at the begining and now i don't know what to do.

we have about £20,000 of unsecured debt I have made arangement after arangement with the companies but as soon as its due for review they call my husband and he ups the payment putting it all into disaray again .

at this moment in time we are being threatened with eveiction from our council house, imprisonment for council tax and bancruptcy - i don't think it can get any worse !! and i don't know how much longer i can cope with the stress its causing.

I am not worried about bancruptcy too much there are just a few questions I have becuase our finances are comlicated so please bear with me.

my husband is a self employeed taxi driver , we currently pay £288 per month for a car which my step mum got on finance for us. would we be allowed to continue paying this ? the last thing i want is to cause her financial hardship.

would my husband be able to continue working for himself as he is self employed?

we currently have huge council tax debts( we are paying them slowly)and he payments are due to increase to £290 from january. do council tax debts get included in the bankruptcy or would we have to continue to pay these at the rate we are doing?

those are the main worries I have right now ( i mean apart from the whole up to our eyeballs in debt thing) if you can offer any advice please feel free to do so .

thanks in advance
jane

[Deleted User]

Please get yourself down to your local CAB. You need urgent advice and they can help fend off the creditors and take the heat off you.

Debt needs to be prioritised. As you have learned, you can go to jail for non payment of council tax - but not for your unsecured loans.

Keeping the roof over your head would be your joint next priority - with unsecured loans way down the list.

Bankrupcy may not be an option for you. You debt is not that high - although you would be eligible.

Ignore threats from the creditors to make you bankrupt - doing this is likely to ensure they get nothing at all - whereas constant rescheduling of payments ensures they get a steady income.

Gather all your paperwork regarding all your income and outgoings and get some specialist advice ASAP.