Reason for Bankrupty

vicks11

Firstly thank-you to all the advice I have been given and read on this site.

I’ve nearly finished the form but I’m now left with the most difficult section of explaining how I got into this mess.

I’m really struggling with this, which is probably why I’ve left it till the last minute, but I just don’t know what to put.

When I look back on other people asking this question they all have valid reasons for how things have spiralled out of control, but I’m struggling to put anything down in writing.

When I got my first credit card (1997), I was in a well paid job and living with my ex, I was in a position where I could pay off my monthly statements with ease and never really worried about it.

However in 1999 I was made redundant followed by a break-up with my ex. I moved back in with my parents and managed to pay off a little over the minimum amounts each month.

In 2000 I got my present job and moved into a flat to be nearer work. It was a struggle but I was just making ends meet, however after a couple of years I moved back with my parents due to personal circumstances.

In 2007 I moved into a house with a friend to keep costs down, during this time I took out a loan to consolidate my credit cards, however I could not get a loan for the total amount so still had debt on my credit cards. I basically survived by transferring balances and could just about sustain the minimum payments, during this time my friend moved out and I could not move back in with my parents so moved into a flat alone, I found myself unable to keep up with the payments and the increasing interest so sought advice from the CAB and CSSC (2008).

I’m not sure what to put down in that section as I’ve got nothing to show where I spent the money on, in fact when I have used my credit card it’s been on daily living expenses such as petrol.

I guess that question just made me think about how I got into this mess. I’m worrying a little now as my court date is this Friday and I feel a bit of a failure.

Thanks for reading and sorry for the long post.

Tinytim

Vicks11, What you have put above seems to me to be reasons, perhaps just expand on them a little. My "reasons" started in 1999 on my form and the judge didn't say anything about it in court.

Feeling a bit of a failure is par for the course, and you are not alone Thinking seriously about how you got into the mess, and resolving to do things different in future is one of the plus points of BR