Head is just spinning!

Simpsona

Hi all, Ive posted a few questions but still my head is spinning and just cant seem to function as my mind is all over the place!

Here are my main concerns:

1. My business has been going 18 months but really quiet and I just dont have the resources to carry it through financially (and mentally) We havent signed the lease and we have recently told the landlord for the shop that we were going back to one unit (currently have to adjoining ones) He was kinda ok with that but that was before we realised that the slow trading was going to continue. The new lease for the one unit is now ready to sign and we know we cant as we are going to file for BR but dont know what to do where the landlord is concerned?? Do we tell him? Do we stall him?? He's not very reasonable and we know he's gona flip! I have to call him 2moro and just dont know what to say? Dont have the courage to tell him about the BR over the phone just had sooo many confrontational phonecalls recently I cant handle another one.

2. We currently have gas and electric key meters in and the meter takes £7 of each per week making £28 per week to each. Will this be classed as making preferential payments when other creditors are getting £1 per month? Dont see how we can stop them taking it from the payment cards?

3. Have 3 lease hire contracts for catering equipment, going to volunterily terminate these after looking at a link by Fermi;) but can I do the same with advertising contracts with BT and Yellow Pages? Will all this go in the BR and if so will it be worth trying to bring theses balances down on paper?

4. Hubby was a sole trader when he launched a prop developement company, he used his personal credit cards to help cash flow. The company then went Limited but he continued to use his cards for his work within the company. These cards are therefor a mix of personal business (and I mean a real mix, nay on impossible to work out!) Will this be frowned upon?

5. Middle of last year when we were still managing to make all our payments I purchased an expensive photo package of the children. Will they frown on this due to our high level of debt? Kids are my world and we lost baby number 3 at 20 weeks then went on to have another girl. My weak spot is pics of them and I know my head was over ruled by my heart on that one. Like I say tho we were making all payments at that time and my business was busiest in winter the year before so we planned to pay it off quickly, unfortunately credit crunch hit and the busy period we were ready for never happened!

6. you kinds have this vision of them coming into your home and looking to see whats of value, this would devastate the kids, is it all done over the phone and do they pretty much accept what you tell them? They mind find it hard to believe that with such high debts(over £100k, mostly due to business failure) that we really dont have any assets! House neg equity, car knackered! 50% of our possessions are toys!! Kids have more than us:o

Sorry for so many questions but prob still have more yet! Gona start doing the forms online this week, can I phone and make an appt for court before I've done the forms?

Many thanks for any of you that have took the time to read this long winded one!

skylight

Hello there!

All the debts you mentioned above will go into the BR's. As to the mixed spending on the cards - well, so what? Its happened and although they may be a bit miffed at trying to sort it, there is nothing you can do about it. You are not going to get a BRU/O over that.

"They" are not going to take the kids pictures, nor come into your home to check what you have got or take stuff. Most of the BR process is done on trust, but obviously if you have recent £2k purchases from Currys on your credit card statement you may be asked why! If asked, explain the purchase of the pictures as you have said above. Having debt does not mean you cannot add to it especially if you were making the payments at the time.

Simpsona

Thank you skylight! Dont worry there are no £2k purchases at curry's lol! Like I say we have very little, kids are ruined! A lot of the most recent card activity will be day to day living when things were getting tight, ie supermarket etc. We dont use any of them now tho once we couldnt meet payments.:rolleyes:

Simpsona

Shameful Bump, but please can anybody answer my questions at all?

Just so stressed with all this!

Thank you.

startagain_2

Simpsona - Welcome and hugs....

What you are doning at the moment is what most of us have done when we first face up to going BR, and that is stressing about the level of debt and how it was incurrred.

Skylight has told you that the debts will all go into the big BR pot and you won't get grilled or frowned upon for buying a photo package of the kids.
A home cinema system or £20k unaccounted for perhaps but you have done what we all do and that is to spend on plastic thinking that things will get better.... for a lot of us, it has just gone from bad to worse.

Please don't worry .... I can say this because it is what I was told a couple of months ago and it is true. You can't change what is done, just look forward to doing something about your debts and a better future.
We are all here to help..
Good Luck
SA

ps - Have you been in touch with one of the debt agencies?

Simpsona

Thank you! Just cant get any of it off my mind and just hearing others are getting thru helps! Probs stressing to much about the detail. Its just such a big step! x Thanks for the hugs!

Oh been in touch with CCCS but Im gonna ring them again. The have passed me to a telephone advice centre but they are difficult to get hold off at times.

startagain_2

Simpsona wrote: »

Thank you! Just cant get any of it off my mind and just hearing others are getting thru helps! Probs stressing to much about the detail. Its just such a big step! x Thanks for the hugs!

Oh been in touch with CCCS but Im gonna ring them again. The have passed me to a telephone advice centre but they are difficult to get hold off at times.

It is a huge step, I agree, and that is why the judge asks if you have had advice from one of the agencies. They are so busy at the moment but it really is worth persevering.
We all have different stories, backgrounds and circumstances but the stressing seems common to all of us. I stress about my OR interview in 3 weeks time and despite getting reassured on here all the time would rather it was behind me than in front of me!
You are in the right place here for help and support, but you have probably realised that already....
Best Wishes
SA