PLEASE can somone read my statement

mr_xmas

I need a little help please , can you have a look over my statement and advise if anythng i should change / word differently etc

I am trying to get ready for my big day , and this is the last thing i end to sort before i go 'BR' it is having me over , more than anything else.
[FONT=&quot]I am ashamed of the fact I have got myself into this situation, I feel as if I have let my whole family down by making major wrong decisions. I am guilty of trying to pay a debit by a debit, not confiding with my wife (I feared she would crack up again and go into a state of mass depression; this would mean she would not be able to function, and I was thinking of the kids & the famliy). [/FONT]

[FONT=&quot]After seeking advice from the CCCS- They advised that I have two choices, either a debit management plan of sorts or to declare myself bankrupt. The debt management plan would take possibly 20 odd years to pay. As I am of bad health, I have a rare thyroid condition which makes me over active one minute and then over active the next, you may note I am standing here before you with no hair what so ever on my body. However at the age of 47 it is trying to grow and come though again, my body does what it wants when it wants. This condition will be with me for the rest of my life and I am on medication as well for life. I have also been fitted with a hearing aid as I went deaf in my right ear in 2008.[/FONT]
[FONT=&quot]I decided that the bankrupt route was the only route I could consider as I can not tell you how, or what my heath state will be in years to come. I would be in my 60’s and still paying the plan off. I cannot see how I would been able to at a pensionable age to meet a payments order.[/FONT]

[FONT=&quot]I have spent money on holidays, day to day living costs, the car, the general costs of living, and setting up our home with basic things. I have been working fulltime throughout but was using credit cards a little more; at this point it was a manageable debt. My wife took up a part-time job in 1999 which was really all about getting her back into the working environment, as child care costs took the majority of that money. In October 2000 our second child was born and my wife had to stop work again. I had change my job 2 times to try and bring home more money which it did do, meanwhile I was getting sucked in by relying on the cards more and more.[/FONT][FONT=&quot] [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]My wife returned to work March 2001 again part time. In 2002 I took out a HP loan for a newer car. Was paying around £200 per month, I had changed my job again and was earning around 21K. In my mind which was affordable and still thinking along the 5yr plan for re-payments and I guess I did not say to myself what ‘IF’ things go up and no pay rises.[/FONT]
[FONT=&quot]In Jan 2007 I took out a loan from NatWest 13k, I did this with the thought that I would be clearing the Bank overdraft and would help to reduce the re- payments on cards, again I was thinking I was earning enough to cover the minimum amount, not really thinking of the day to day living costs going up with no pay rises, I suppose this was the start of my major troubles money wise. [/FONT][FONT=&quot] [/FONT]
[FONT=&quot]The general cost of living has risen through the roof (I did not allow for this in my line of thoughts at the time).[/FONT]
[FONT=&quot] I did not sit down and think of the consequences by doing this, as now I see all I was doing was making matters worse, the interest was getting bigger, my payments onto the cards were getting higher and higher and I am not getting anywhere and still having to use the cards time to time.[/FONT]
[FONT=&quot]I have not had a pay rise for approx 3 years which has not helped.[/FONT]
[FONT=&quot]Just after Christmas 2009 I got a part time job which was helping me make payments for the last 3mths at £200per mouth approx. BUT I was not making any inroads to me paying off debts.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I have come to the conclusions that I can not carry on in this way and have to declare myself bankrupt. I cannot continue in this present manner, it is not right or fair on my family.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I am so ashamed that I allowed myself to get in this state & mess and regret all the decisions I made over the years.[/FONT]
[FONT=&quot]I have been living with my head in bucket, I have been irresponsible. At the times I saw it as trying to do the best for my family and I am full of guilt and remorse to everyone[/FONT]

dottydora

I am no expert but from other posts on here I am guessing the experts will say that you have provided too much information and maybe will say that you could trim it down by not being quite so emotive all the way through. They will probably say keep it reasonably brief and to the point. However, I understand why you have written it as you have, because you want the OR to understand how you feel! I'm sure someone will be along with some editing if they think it is appropriate. I think you just need to put when your troubles started and why and how you never intended not to pay and that the debt was managable at the time and that you regret the situation you find yourself in. And a little about your health but brief and that you took professional advice. They will ask you more details during the interview. Good luck anyway.

mr_xmas

dottydora wrote: »

I am no expert but from other posts on here I am guessing the experts will say that you have provided too much information and maybe will say that you could trim it down by not being quite so emotive all the way through. They will probably say keep it reasonably brief and to the point. However, I understand why you have written it as you have, because you want the OR to understand how you feel! I'm sure someone will be along with some editing if they think it is appropriate. I think you just need to put when your troubles started and why and how you never intended not to pay and that the debt was managable at the time and that you regret the situation you find yourself in. And a little about your health but brief and that you took professional advice. They will ask you more details during the interview. Good luck anyway.

Thank you for your advice.

Holes_in_my_pocket

i would say thats fine ,mine similar wife kids loans cards health and divorce..The judge will see reasons for bankrutcy the OR may not be interested in your emotional side but thats not his job.
( i could just put reason as ex wifes shoes but thought better of it)

mike1966_2

hi mr xmas this is mine, what i wrote with help from others here.

We first started to experience trouble in 1995 after my wife had our first baby, she could not return to work as there was no one to look after the child.

In 1998 we had our house repossessed, and with the benefit of hind sight that was probably the point where we started to lose control of our finances, given the debt that was incurred as a result of the repossession.

We moved in to council accommodation, I was on a low wage and wife was still not back in work.

We took out a number of small loans from various door to door credit company’s, and the debts just gradually got bigger and bigger due to the huge interest rates they charge.

The final straw came after 3 years of being self employed, when a dispute with a client resulted in me suffering a loss of £1600 for a kitchen I supplied and fitted, although the dispute was not actually over the kitchen.

I was then sued by the supplier, and ultimately had high court enforcement at the door, which made my wife physically ill.

Being in the home maintenance industry work has been slow to come in, and while explaining this to my bank, they still have continued to pile on the charges to my business account.

The combination of dwindling income and rising financial costs has left me in a position where I can no longer meet the commitment to my creditors and bankruptcy is the only remedy left open to me.

jellygirl_2

Far too much detailed information here - you dont need to tell the OR about your health issues unless it may affect your previous, current or future income and therefore ability to pay your debts.
Your post sounds confusing - it may be helpful if you try to narrow it down into 3 stages eg; 1) how you came into debt (the debt that has led to your BR); 2) What you have done to rectify the situation (even if its taking our more credit) 3) Your situation NOW - conclude that BR is your only option and why.

Dont put so much about feeling ashamed - the OR's job is to assess whether you are insolvent, how you came to be insolvent, and whether you are to blame for it. And whether you are in a financial position to pay anything back to your creditors. Simple.

My advice is to simplify what you have written - remove a lot of the emotional element and replace with factual information. Dont admit fault in your statement - but be honest in reply to what the OR asks you in your interview.

Hope this helps you - I know its a very emotional time for you - Ive been there, I know what its like, but the best of luck to you

sniggings

mare i hate to tell you but i wrote a ONE line statment which was,

Q, why did you go BR
A, because I lived above my means


I wasnt trying to be clever but thats the top and bottom of it and the OR didn't seem to have a problem with it,she said the reason that question is there is because when they write to your creditors they need to tell them why they will not be getting their money,so that was ok

fiveyearplan

There are two schools of thought regarding the statement - short and sweet or more detailed. If you give enough information and your BR is straightforward you may not have to have an OR interview. On the other hand do not offer any information that could be questioned later!

When you have your OR interview just answer the questions and don't waffle.

Lensman_2

mr_xmas wrote: »

It is with regret and shame that I prepare this statement. My sense of duty to my family has lead to this situation. A vicious circle of paying debt with credit was brought about partly to protect my vulnerable wife and further motivated by responsibility to the rest of my family.

[FONT=&quot]After seeking advice from the CCCS- They advised bankruptcy. This is partly due to my own poor health which has been made worse by the stress of trying to manage my debt.
[/FONT]
[FONT=&quot]Untill 1999, my expenses were met by wages and the use of some credit, but they were sustainable. My wife at that point returned to part time work afer a period of caring full time for our child. Child care was a significant expense.

In October 2000 my wife left employment to care for our second child, I was successful in finding better payed employment to try to maintain our finances, however I was increasingly reliant on credit to make ends meet.

[/FONT][FONT=&quot]My wife returned to work March 2001 again part time.

In 2002 I took out a HP loan for a newer car, fully believing I could meet the repayments.

[/FONT][FONT=&quot]In Jan 2007 I took out a consoldation loan from NatWest for
13k, in order to reduce our monthly outgoings.

[/FONT] [FONT=&quot]While my intentions were good, my income did not keep pace with the cost of living so I continued to rely on credit to make ends meet. This led to a vicious circle of higher repayments reducing our available income for living. Despite obtaining a part time job, I was unable to resolve this situation.

I am therefore convinced that Bankruptcy is the only option for me and my family.

I will reiterate the shame that I feel at my situation. While I tried to do the best for my family, I feel only guilt and remorse at being unable to do so.

[/FONT]

I am sorry if I have been a bit harsh here, but my suggestion is in blue.

All The Best.

LM

mr_xmas

Lensman wrote: »

I am sorry if I have been a bit harsh here, but my suggestion is in blue.

All The Best.

LM

Thank you ever so much, you was not beeing harsh & you got what i would of loved to say in my mind, i just got such a head spin on this part of the form.
once again i thank you. ( who know's what santa may bring you this year, but i will tell you it will not cost alot- lol)