end of the line?

paul10mm

Hi all
Im new here but have read a lot of your threads and its all good!
Anyway to cut a very long story short i have just saved up the money to go bankrupt both my wife and i,we have debts of £120,000.00 all on credit cards and one unsecured loan the fast bulk of it is mine just over £20,000 is my wifes All been my fault and she had no idea of the problem till a couple of months ago when i spoke to the CCCS obviousley not happy but at least the truth is out.
We sold our house 18months ago and moved in to a rented house she thought because we could not get a big enough mortgage thats was true but i spent the £40,000 we had from sale of house paying back credit card companys some i paid of in full others it hardley dented I know no i should have just payed her debts of and just made myself bankrupt but i was to scard or stupid to ask for help!
Anyway to my question we live in a rented house and have 2 kids we both work and take home £2338 i was paying £5700 a month with all the debts now just a token £1 a month most companys are ok but Mbna are making me ill there rude,threatning even spoke to one of my workmates about me now every one were i work knows about it what can i do???
im on prozac cos of the stress and im always ill i have to go to work because i dont get sick pay have been in the same job 23 years and only know reliase that my wages have only gone up £4000. in that time!!
What will happen with the reciver?i need my car for work its 8years old and worth about £800 my wife needs hers for work and to take my daughter to school its worth about £2500 will they take them?
Our outgoings are as follows
850 rent 15phone
122 council tak 16 internet
90 electricty 15 sky
45gas 36 life policy
400 food 98 insurance/car tax/tv licence
280 petrol 120 school travel(son)school diners
Total 2087 and thats not everything!
Mbna have said its totaly unaceptble but know one else has???
I am doing the bankruptcy forms on line at the momment i know its tunbridge wells court i have to go to But im filled with Dread will i cost my kids ther home???Sorry to go on but took a lot for me to do this!

Thefunkygibbons

Chin up

The court is not going to throw you out of a rented house

You are where you are, and you go forward from here

Sounds like MBNA are haressing you, which they are not allowed to do

Keep a diary and someone will provide a link so that you can report them

Well done for posting

bluezone

Before I get your back up with my reply I am only trying to help as I am not in a too good situation myself but you have to be harsh to be kind

Well a bit of a help would be to:
ditch sky and have freeview - sky is a luxury which you cant afford.
cut down on the grocery bill - look on the money saving old style boards for tips etc.
maybe do a packed lunch for the children rather than paying for school lunches?
find somewhere a bit cheaper to rent for the time being

You said you bring home £2338
You have only listed your outgoings at £2087 which leaves £251 but you said you have not listed everything - what else needs to go on the list?

paul10mm

thanks for comments
Cant get freeview were i live in Tonbridge kent and normal tv is rubbish picture unwatchable,we find it difficult to mange on 400 a month for food there are 4 of us and the 2 children are under 12 sons school does not allow packed lunches there one of these healty meal schools only,
We have spent six months trying to find somewere cheaper to live but this is still the cheapist we have found we dont care what type of property we have as long as kids dont suffer because of me.
Other money goes on pet food and at the momment another 56 to creditors rest on clothes for kids and at the momment i have a lot of dental problems even though its nhs its 9.0 a time in the last two weeks i have had to be put under for a tooth removal and this week i had to have a root canal,Sky do a thing called freesat i have to pay £20 for a card i will do that thanks!!!Kids use internet a lot for school work etc will i have to cancel that as well??
Are the kids still aloud to have pocket money??And most of all what happens when you go to court do you have to see a judge?Im not sure how my wife will handle it thinks are very stranded because of me

bluezone

well the freesat thing sounds a good idea. things with the wife will be strained as they have been with me and my other half.
is there a cheaper isp you ould use for the internet and perhaps put a limit on to how much the kids can be online. maybe one that is 1p a minute or something - not all that sure how these things work,
I also understand about pets having 2 cats myself and someone on here suggested getting rid of them!!!!!!!!!!!!!!!!! No way, never!!!!

I wish you good luck with this and stay in touch with how you are getting on

JAMIEDODGER

if you need to find a way to reduce the grocery bill, pop along to the old style board...there are tons of suggestions on there and challenges too! (cant you tell im addicted lol)

smcaul

Exactly how did MBNA let a work colleague know of your situation? They are not allowed to discuss your account with anyone except you due to the DPA, I would be having a hissy fit at them if I were you, and report them if they have breached the DPA, I did to Cabot Financial when they were causing me problems.

paul10mm

We have switched to tiscali its 14.99 a month both kids have home made pcs will they lose those or one ?son also has a tv and a playstaion will those bbe taken i Really have no idea what the offical reciver will let us keep?? wh have tv,dvd recorder and hifi too all quite old i won most of them in promotions from work! i Understand beds/sofs/washer etc are ok and we dont have any jewlery i dont even own a watch!

xmaslolly76

Your groucery bill could be cut i feed a family of 4 on £200 a month and we all have treats and we never go hungry. Ive even started having my groceries delivered, not because im lazy (although i must say it lovely not having to drag two kids around a supermarket) but because i can use all the discount vouchers off here. I also shop alot of the local market for fresh produce it normally keeps longer is better quality and is cheaper.

Just a suggestion hope it helps

frosty

Have you spoken to the school about not allowing packed lunches,if it saved a large sum of money I would tell them your children are having healthy packed lunches whether they like it or not,they should not be dictating to you.Maybe if you look on the money saving oldstyle thread you will find lots of ideas for meals that your children would enjoy.Since joining this site my food bills gone down from well over £100 a week to just £50 (5 adults,3 dogs,cat),just by making these changes you would be saving a few hundred pounds.When I started to cut back on the shopping I decided to cut out all the grazing everyone was doing,maybe if your children are used to having crisp,sweets ect everyday,why not change this to a saturday night when they are allowed to have sweetie night,its amazing what you will you in a week.we all realise how difficult things must be for you but at least you are trying to get your life and finances sorted,I think you need to look at how you can cut back so that when you are sorted you dont end up back where you are now.Good luck.

paul10mm

many thanks for all you help and comments!
How and were do i find the discount vouchers?the kids dont get sweets during the week or fizzy so id be more than happy to learn how to shop cheaper and smarter and help would be most welcome???Again many thanks has anyone any experince of what the offical reciver is like?and regarding mbna they called me at work and as im the manager i work on shop floor they called me 4 times on the trot fith time i refused to speak to them and they phoned back and asked to speak to my MD its fear tactics and i was driving me to sucide to be honest if it was not for my wife and kids i dont think i would have got through it the strain and guilt is grippling but i do belive there is light at the end of the tunnel!!I know no that money is not important your own life and family are!!!