Is Bankrupcy our savior?

Doomboy

Thankyou so much guys for your comforting comments!...its really helping me remain calm about our situation. At present we have zero savings...(well apart from the bankruptcy payment which is truly an effort not to break into),so its pretty impossible to move into rented accomodation at present.Even though we have not filed for BR yet, our credit rating is so poor I would think any deposit asked for, would be huge.
As stated before I am unemployed so we could have some of the deposit or bond (maybe all) payed for by the housing benefit people. And then theres the rent...I know housing benefit pay up to a max of something like £92 per week,but that would limit us to what and where we could rent...I really dont want to sound upperty, but I am scared we would have to live in a bad area.

blu_1974

Hi again doomboy im pretty sure that as your unemployed you and your partner that you would not need to pay for the BR but double check.I dont know much about your little lads condition etc but maybe you would come under a high priority on the waiting list with your council,have you been and explained to the housing what your up against.The money you have been saving i would use it for a deposit and rent or any think else you need for you or your children.Register with housing assocations check your local paper shops and free adds papers there are land lords out there that do not use letting agents,i would also put small adverts in paper shops accomidation needed etc with your number.I have 3 kids and im moving into a 2 bed room house which is pretty decent but still very small but as long as i have a roof over there head im happy plus now im not paying anythink and know where im going the kids are really looking forward to the move and my partner is far less stressed,im not unemployed like your self but if you decided what you want to do and go for it you will get through.Maybe look for another job somethink part time for some extra cash i know its not easy to find work at the moment but dont let this drag you down where theres a will theres always a way and there are always people on here which will offer you advise and support all the way....

tigerfeet2006

You may be able to get remission on the court fees of £150 but you will still have to pay the £345 OR's fees.

Court fee remission and forms.

• HMCS - Court fees do you have to pay them? (And guidance on completing the fee remission form). (pdf)
• HMCS - Form EX160 - Application for a fee remission (pdf)
• Example application for a fee remission based on gross annual income - EX160 (Thanks to NE Derbyshire CAB)
• Example application for a fee remission based on permitted benefits - EX160 (Thanks to NE Derbyshire CAB)
• Possible assistance with Bankruptcy costs / fees (Thanks to NE Derbyshire CAB)

From the Bankruptcy Help sticky

Doomboy

Cheers Blu your words are encouraging
Thanks for the links Tiger....the cab said we would not have to pay the fees

We have HP on our car and there is around 3k left to pay(we are also 2 months in arrears)....guess we would be saying bye bye to it....shame

Cab phoned us the other day to ask how we were getting on with the forms...I told them we were still trying to get our heads round the BR thing and that we have not as yet started....they have made us an appointment for a week fron now so we can go in and discuss it all further and look at what we have done on it so far.....so I guess we gotta get our heads down and make a start

Doomboy

oof just had a call from the bank of scotland who are my car loan people saying that i am 2 months in arrears and need to bring this up to date....I have already on a few occasions phoned them explaining my situation and one of the operators said i could pay a minimum payment till things are better....but this recent caller said they dont do that and that the arrears would be added to the existing monthly payment so it would be spread out over so many months but I would have to keep paying it...they are gonna send me some surrender forms for the car to fill in if I cant keep paying ...wow things are starting to get extremely worrying

fiveyearplan

Doomboy wrote: »

I realise that BR aint an easy get out....it TERRIFIES me and I would not even consider it if I didnt have to.

Most of us on here would have never thought we'd be in a position to be bankrupt however there is nothing to be afraid of and you will get your life back without all that crippling debt! You don't even realise now how much that debt is damaging your life - and you won't realise how much stress it is causing you and your family until it is gone.

Look how many people on here say it is the best thing they have ever done. We (most of us anyway) have all gone through bankruptcy and lived to tell the tale. I don't think there is one person who regrets doing it (they may regret getting into the situation in the first place but wouldn't regret taking back control of their lives).!!

ontheway_2

Hello Doomboy
I'm afraid I don't have practical advice to offer, but I recognise your situation so well. 3 years ago, I had the same gut-wrenching anxiety that you describe now. I got help from Payplan (a free debt management agency) and now feel that I've got some control back as I repay my total debt. Things are still tight, and there are times when I wish that I could spend the way I used to but my point is that you will go through a rotten time, but then start to come out the other end. There is good advice and fellow feeling on this site and you've taken a very important step in seeking help and opening up discussion of your situation.
Best wishes to you.

Doomboy

Thanks guys!....sorry to keep spilling out my worries but I think it seems to help me focus...you guys are great

philnicandamy

Keep posting...and no apologies!!! no matter how daft the questions seem to you

blu_1974

Hi again doomboy i agree with fiveyearplan its clear to see that these debts are starting to stress you and your family out and its only money m8 its really not worth the worry and stress on you and your family im handing my keys in next month its bricks and morter they can have the house,you and your family are most important now you need to take control and shut the debtors out and start looking forward have you been to your local housing council have you looked for landlords who want DSS tennents cause they are out there keep your chinn up m8...