need to get it off my chest!!

GemmaLewis

a little bit about myself:
i am 24yrs with a 2 yr old child, i live with my partner and we recieve jsa as a family, we live in a housing assosation house and we have the rent payed for us.

i managed to pluck up the courage last night and add up how much i owe, to my horror it was around £25,000. i cant believe i have been so stupid over the years; taking over credit cards and loans wiv a stupid amount of INTREST, back then i honeslty thought i was only going to pay back wot i actually borrowed!!

i pay £1.00 a month through spectrum to 5 of the credtiors andf pay them £25.00 to do this!! cant believe i set up to do this, i'm sure they never explained this charge every month, or maybe i'm just really navie!
the rest of the ppl i owe money to, i just ignore. (natwest cards and loans, barcley card, vanquis card, tesco card, hailfax loan, 02, to name a few)

my partner is at college part time and i have just been accepted to uni this sept. none of my family know that i owe money apart from my partner who thnks i owe about £10,00!

any advice would be nice!
i'm thinking bankrupt, but can i actually afford to do that???
thanx for listening my rant,

Rafter

Gemma,

It does sound like bankruptcy is the best option for you given that you have no assets. All those companies have frankly been irresponsible lending someone on benefits so much money.

You should take advice though - talk to CCCS and citizens advice. It maybe you can even get a charity to pay your bankruptcy fee for you.

You should also be honest with your partner about this and your family.

R.

maxmycardagain

pull the rug, save the fees, does OH owe anything?

your situation can only benefit from BR

hope your chests better now

dalip

Yes gemma i agree with rafter you need to talk to cab,NDL or CCCS all of whom are free. Couple of those numbers are in my sig. You also need to be able to tell the judge you have taken proper legal advice on the day of bc,if that ends up being your choosen route,so well worth a call. They are vey busy at the moment so it may take a day or two of continually redialing to get through:D .

I would also reccomend you have a chat to your partner,better he finds out now from YOU,than someone else. Plus he can then help you as much as you want him to, without you hiding anything.Dx

Ps any questions that come to mind just ask,thats what this forum is all about.Dxx

Lost2

I went to the CAB and they really did help

GemmaLewis

thank you all very much for your advice, i will contact my local CAB and hopefully they can help me, i just want to be debt free, i will never ever ever take out another credit card/loan again!

tigerfeet2006

Once you have spoken to someone if they suggest BR then come back to us and we can help and support you through the process.

If you have anymore questions don't hesitate to ask. Have a read of the Bankruptcy Help sticky and some of the threads on here and ask what ever you need.