Declaring yourself bankrupt

billicus

We are really struggling. We are already with the cccs but they are threating to terminate things as we just simply cannot afford the payments. I am going to speak to them tomorrow but I cannot see a way out of this.
I have worked through our debts again and with income decreasing (my partners dropped by 10%) and household bills increasing we are living over our means again. (I dont mean in the spending we just dont have enought o live) because of this we cant decrease how much we give to creditors because theres just not enough.
I am looking into bankruptcy but I am really worried about loosing my home. I dont care about the car etc I WANT them to go. Our house isnt even worth what were paying for it as we have a mortgage for 140,000 over 40 years and the house is now only worth 120,000 if that.
Under what circumstances do they allow you to keep the house?
Also I read you cannot become management of a company is that correct? I am workig my way up to become management so this is a problem.
Where can I go for a face to face talk to comeone who can help?

I really cant take anymore of living like this and I am becoming very depressed to the point of thinking not very good things about my life. I am desperate for help.

di3004

billicus wrote: »

We are really struggling. We are already with the cccs but they are threating to terminate things as we just simply cannot afford the payments. I am going to speak to them tomorrow but I cannot see a way out of this.
I have worked through our debts again and with income decreasing (my partners dropped by 10%) and household bills increasing we are living over our means again. (I dont mean in the spending we just dont have enought o live) because of this we cant decrease how much we give to creditors because theres just not enough.
I am looking into bankruptcy but I am really worried about loosing my home. I dont care about the car etc I WANT them to go. Our house isnt even worth what were paying for it as we have a mortgage for 140,000 over 40 years and the house is now only worth 120,000 if that.
Under what circumstances do they allow you to keep the house?
Also I read you cannot become management of a company is that correct? I am workig my way up to become management so this is a problem.
Where can I go for a face to face talk to comeone who can help?

I really cant take anymore of living like this and I am becoming very depressed to the point of thinking not very good things about my life. I am desperate for help.

Hi there

Sorry to hear of this and hope things work out for you.

I thought I would bump this up for you as I do not know much about how this bankruptcy method works, good luck.;)

I'm sure someone will be along soon to give you some advice.

deepintrouble

You might be better asking this over on the bankruptcy board. I was considering this earlier this year and they gave me loads of good advice. They are completely non judgemental and a really nice bunch of people who have been through the process and come out the other side.