Can someone check my causes of bankruptcy statement

nicky_s_2

" I realised in July 08 that I was not able to pay back my debts. I had been stupidly borrowing off credit cards to pay for everyday living expenses,and doing balance transfers for the following reasons:-
1. Following a car accident in Dec 06, I left my job due to injuries received. When I was fully recovered, I could not find a comparable job to fit in with my family.
2. Last year my mother was seriously ill in hospital. She does not live nearby, and I used my credit card for travel.
3 I had a cancer scare last year. A doctor recommended private tests for speed, and these were put on credit.

At no time did I consider that I would not be able to pay off my debts, however, with the increased costs in living, and the fact that a couple of creditors were not willing to reduce interest to help, I could not see a way to pay back my debts within the next 20 years.

I have taken advice from CCCS & payplan, both who have recommended bankruptcy.

I fully understand the effects and implications of bankruptcy, and sincerely regret the situation I am in."


Is this acceptable do you think?

Merry_Gentry

It sounds more than reasonable to me - it gives a timeline, explains how you got into the position you're in, what you did to rectify it, and advice taken.

fiveyearplan

nicky_s wrote: »

" I realised in July 08 that I was not able to pay back my debts. I had been stupidly (I would take out that word) borrowing off credit cards to pay for everyday living expenses,and doing balance transfers for the following reasons:-
1. Following a car accident in Dec 06, I left my job due to injuries received. When I was fully recovered, I could not find a comparable job to fit in with my family.
2. Last year my mother was seriously ill in hospital. She does not live nearby, and I used my credit card for travel.
3 I had a cancer scare last year. A doctor recommended private tests for speed, and these were put on credit.

At no time did I consider that I would not be able to pay off my debts, however, with the increased costs in living, my inability to find work comparable to my old job and rate of pay and the fact that a couple of creditors were not willing to reduce interest to help, I could not see a way to pay back my debts within the next 20 years.

I have taken advice from CCCS & payplan, both who have recommended bankruptcy.

I fully understand the effects and implications of bankruptcy, and sincerely regret the situation I am in."


Is this acceptable do you think?

I would make those couple of adjustments if it was my statement.