Please help!

sharp_2

After a lot of discussion and sums my bf has decided to opt for bankruptcey. As he's ignored the debt for some time i'm sure that by now there will be ccj's etc against his name. How will this affect bankrupcey application? he's just run from this for so long and now he's facing up to it i just want to help in any way i can, Any1 out there got any advice please?

us,thecat&thedebt

hi there

how much does he owe and to whom...

does he have any assests

what sort of job / career does he have / intend to have

have you tried to come to payment arrangements...

las77

Hi, can you post your SOA to let people on the forum see if there are any ways of reducing the expenses to free up money to throw at the debt. Southernscouser posted this useful thread to help people with this (this thread ).

Correct me if I’m wrong, but have you been trying to sort things out on your own ? He could also contact CCS or PayPlan :

The websites are https://www.payplan.co.uk and https://www.cccs.co.uk.

Please don’t go down the bankruptcy route until you have explored all other avenues. Please post your SOA first.

kenshaz

keep sending reports in and every -one will help

crystal_clear

Original posts from Sharpe can be found here if my link works
http://forums.moneysavingexpert.com/showthread.html?p=1486556#post1486556

Hope that helps someone
Crystal

bank_of_slate

Hi Sharp and welcome to MSE!!

Has he come to this conclusion himself or with professional advice?
bankruptcy is not a decision to be taken lightly and yes it may be the right decision for him but it needs to be an INFORMED decision.

Can you encourage him to post on here himself for support and advice?
We're here to help and support, not to judge!
...Linda xx

sharp_2

His accountant has advised the bankrupcy route. I've got as much info as i can for him - all the links fom this site -but he is terrified of his situation and i can't get him to phone for advice. I'm finding it frustating cos i'm very much a right here's the problem lets sort the solution person. I tell him of all the support on this site but i don't think he's ready to post anything himself. I think his real fear is that he's ignored it for so long he doesn't really know what he's dealing with. I mean surely if he's not paid anything to his creditors ( 4 in total i think) then they must have taken some sort of legal action. He's decided on bankrupcy cos the bulk of the debt is due to non payment by another party with no hope of retrieval. I know his incomings and outgoings and there really isn't much spare what is is currently being saved to pay for bankrupcy application. Sorry it sounds so vague but i don't feel i can put all details without his permission. he's admitted the problem but is so worried about anyone else finding out ehich i can understand to an extent. I'm just being there for him as he tries to work through it in his head tho it's hard not to step in and say look if you do this now the end of it will be closer.Any tips gratefully received!

bank_of_slate

he's lucky to have you!

Be supportive but don't get drawn into sorting out this situation for him.
He needs to go through this and come out the other side having learnt from it.

If the whole thing is 'taken care of' without much of his involvement then the same thing is likely to happen in the future. Also you could well end up resenting him for you having to sort it out.
Let him know that you are there for support but he's got to sort the situation out.
I wish you loads of luck, keep posting for advice, there are many others on here who have been through the same situation
...linda xx

sharp_2

Thanks. That really is the hard part right now. He does genuinely want to sort this. I am there for him 100%. Cos of his work i'm used to sorting things for him and i want him to be able to make a completely informed choice cos whatever he chooses we know its its gonna be tough. I know i can't sort his head or feelings about it all for him but i can retrive information and try to show him that he's not the only 1 in this position. I've gotten a load of support and hope from reading postings on this site, jsut wish i coild bottle it up and give it to him!!

bank_of_slate

Try to get him on here! We'll give him a shot of support straight into the vein, (bottling it loses some of the potency)
He may not wish to discuss it in depth with you as he could be very embarrassed or disappointed in himself, especially as you seem so level headed!
...Linda xx

sharp_2

I'll certainly try my best!