its now or never!!!

chunkyu

I've reviewed what to put in the reason/cause of bankruptcy box, was just hoping someone would have a look and see if its ok.

Not understanding my limits and living outside my means.
My debts slowly grew due to consolidating loans and reduced income. Think it was about 9/10 years ago i took out a loan with my then girlfriend except that I had it in just my name, at the time I got the loan it was for improvement to the house and for driving lessons and a car. Then a few months later we split up an I was left to pay the debt on my own. I was doing agency work which wasn't regular hours by then and started to struggle. I then applied for a couple of credit cards and got them intially to help me. I ended up relying on them more and more.
then I lost my job.
So again I was struggling even further I applied for yet another loan to try to sort the debts I had already accured but even with my good intentions work wasn't giving me the hours and I was relying more and more on the loan for my day to day needs.
I started to panic when I started getting the letters and phone calls threatening legal action against me. I admitally started burying my head and running away from it thinking that it would all go away.
Eventually I faced up to it and contacted the companys and offered a small amount which some accepted, some didn't. I continued along that path for a while then went into a debt management programme where I was paying £100 a month by then I was back in regular work then just as I thought things were getting better I was told that I needed to find other accommodation, and had to move into some where more expensive, so I had to stop paying into the debt management programme.
I didnt know what to do or where to turn people were telling me it was my fault and I had to sort it myself.
I was then at a very low point in my life i'm not sure of all the debts I have run up.
In 2004 I started a new relationship and got into another dmp where I was paying £150 per month, I was in a steady job everything was fine, but in november 2006 I was dianogsed with depression had a bit of time off then my relationship ended in early 2007, I lost my job, and pretty much everything, I was living in boston lincs at the time and had to move to peterborough to live with my sister, I left with nothing, no job, no money, so had no cash coming in. I couldnt pay into the dmp again. I had to sign on for job seekers allowance and find somewhere to live as my sister could only put me up for a couple of weeks. I eventually found somewhere but the rent was high and with no job I was already in arrears with the land lord though thankfully he was understanding. I managed to get a job but was only able to get a few hours a week enough to cover my rent and food and travel costs.
I got in touch with the citzens advice beareu about what I should do and they advise me with the amount of debt I have and with my level of income that I should go bankrupt, I also called payplan and they also advised the same.
This is not a decision I have come to lightly but feel that it is only the only way I can have a fresh start, I have made mistakes. and I hope I have learnt from them, I will not make the same mistakes again. this is why i've decided to go bankrupt

thanks in advance for anyones help

chunkyu

could someone look over my last post, as i want to finalise my br forms and print them, just need to know if i need to change my reason for br.

tigerfeet2006

I would say get dates and figures in. What date was that first loan, roughly? How much was it for?

So_Sad_Angel

Hi Tiger....you beat me to it !! was going to suggest adding more of a timeline with approx dates in the early part of the post.

Hi Chunkyu....you could try & pm Bethankim if she is about... she is an absolute whizz with the `reasons why` section.

Angiexx

tigerfeet2006

Good thinking Batman!!!!! Bethankim is a whizz at them.

Bethankim

Hi all, sorry been a tad quiet having a lot of life to deal with at the minute, i keep hoping the rotten luck fairy will go and annoy someone else..anyway thanks ladies for yanking me back


Chunky I have had a go at reworking your reasons, you will need to try and put in amounts and dates. Basically thats what the OR is looking for along with a few whys. Feel free to keep all or some of what ive written. you will need to proof read and amend spelling mistakes, Im not good at that sort of thing hope thats helped


It is with regret I find myself filing for bankruptcy, until 1999 I successfully managed my finances within my means.

In 1999 I applied for a loan (please insert approx how much loan was for and who with) to carry out home improvements with my then partner. We agreed to pay the loan together, we separated in late 1999 and I was left with the debt as I had taken the loan in my sole name. M ex partner refused to honor her commitment. I was able to make the payments until my work for an agency began to be erratic.

In 1999 and 2000 I applied for (please insert what cards and how much) Due to the erratic nature of my work, I found I relied on my credit cars for essential living expenses.

In 2001 I took the decision to consolidate my existing loan and credit cards with (Please insert who with and approx how much ) On reflection I realise this made my money problems worse but I was convinced I could manage the loan and begin to take control of my finances again.

In early 2002 I was made redundant due to and end of contract, I was unable to meet my loan repayments, I found this time very hard and instead of facing up to my problem I did nothing when I began to default on my loan and credit card payments. I faced up to my problems in 2003 and entered into a voluntary Debt management Plan. I agreed to pay £100 per month. I met all payments on my DMP until I was evicted from my home. I had no alternative but to find more expensive accommodation which stretched my finances again. My DMP failed in 2003. I was unaware of help at that time and my mental health began to suffer from the stress.

In 2004 I was able to enter into a new DMP I was in a settled relationship at that time, I agreed to pay £150 per month. I had a new job and I was able to meet all my financial commitments on time each moth.

In late 2006 I was diagnosed with severe depression, my relationship and work had begun to suffer again. My relationship ended in 2007. Due to my illness my work suffered and I lost my job. I was forced to relocate 100 miles, to live with family for a few weeks; I was in receipt of Job seekers allowance. My DMP failed due to my lack of income.

Although I work part-time ,I only earn enough to cover my essential living expenses. I have not paid into my DMP since 2007 due to my low income.

I have now sought advice from the citizens advice bureau and pay plan, after reviewing my options I have come to this decision. It is not one I have taken lightly, I realise I have made mistakes and have learnt my lesson. I now live within my small means, and realise I have no option but to file for bankruptcy as advised due to the level of debt and my limited income.

So_Sad_Angel

Bethankim wrote: »

Hi all, sorry been a tad quiet having a lot of life to deal with at the minute, i keep hoping the rotten luck fairy will go and annoy someone else..anyway thanks ladies for yanking me back


.

Hi Beth Honey :hello:that was quick !....your ears must have been burning !!!:D

Sorry to hear you having a tough time....but I know that even though `sh*t happens` you will be smiling through it as always :A

Angiexx

Bethankim

Thanks Angie, they were but who am i to ignore a plea for my help.

shall pm you and we can sort a coffee out for next week.

Beth
x

tigerfeet2006

Beth, you are a star :A

chunkyu

are you able to printed off sections of the br form, as i would like to change the reason for br, but not the whole form