My bankruptcy Journey

antarctica

Hello all.

My husband and I are hoping to petition for bankruptcy soon.

After years and years of desperately trying to pay back our creditors we have just had enough.

We owe in the region of 45k and are both unemployed presently due to the current climate. Also I am on anti depressants as the stress of being in and out of work and my failing health just got too much.

It's been a hard decision to come to, for us to decide to be BR. But it's realistically the only one.

We have an appt with the CCCS on monday afternoon and seeing as we only have 100.95 a week benefits coming in and serving our debts costs in the region of £600 a month just for minimum payments, it's all that they can recommend!

I wont lie, some of my spending in the past was not for necessary things (we ate quite a bit when I was just too exhausted to cook after a long day at work, but we never went to the Ivy or anywhere expensive! ) but the majority went on rent, bills and trying to stay afloat.

It's going to be such a relief to finally be debt free and start again with our lives. Never ever going to get credit again!

EVER

Antarctica
x

thatsyourlot

Sorry to hear of your circumstances (sp) I am going down the BR route at the moment... its a long scary ride but I just cant service my debts either (min repayments of approx £1590 per month)

I have found the people on this forum to be fab & I have been given loads of fantastic advice.

The word "credit" is certainly banned in our house too!!

Hope it all works out ok for you both, at least you will be able to start living again without all that debt hanging over you & I hope you both manage to find some work soon too.

All the best

antarctica

Yes it is a very scary ride. Unfortunately a necessary one, either that or have sleepless nights for the rest of our lives waiting for the bailiffs to turn up.

Thank you, I hope things go well for you too.

When are you going to be BR?

thatsyourlot

Well, I was hoping to get the appointment sorted this week but I have had to re-jig all my SOA.

I am self employed & have an online business (I make wedding jewellery) Up until this week, things had been looking very grim for me this tax year so far (my tax yr runs from 1st april) but for some unknown reason, I have had a load of orders come through, so now all my finances have to be re done to accommodate my earrning going up for the last 3 months.

I have to do an "average" over the 3 months of this tax yr.

Its good that I have all these orders in & its about time I started getting something back for the amount I have paid to advertise in a certain wedding magazine!!!

I only fessed upto my hubby last month & although he "blew his top" at first, he has been fab.

We dont have any financial ties what so ever (we rent our house) we have always kept our financial affairs separate ever since we got together over 10 yrs ago. In hindesight I am so glad of this because he has his own business & my blooming mess is not going to effect him in any way at all.

When I rang our local court to get the forms sent out to me, they told me there was a 6 wk waiting list at the time.. so Im not sure exactly when I will get my appointment

antarctica

Wow a 6 week waiting list eh.

Yes we also have separate finances. So we are both going BR!

Luckily we both know about each others debts, so thats one less stress on the relationship.

pmg19680

antarctica wrote: »

Wow a 6 week waiting list eh.

Yes we also have separate finances. So we are both going BR!

Luckily we both know about each others debts, so thats one less stress on the relationship.

Hi antartica,
Keep your chins up. you will be fine. My hubby and i went br in may due to the same sort of reasons as yourself.
It really isn't as bad as you might think and everyone on here will guide you with any support and advice you need so just ask away;)

antarctica

Thank you very much for your support, it really helps.

I only have the one chin though, unless you mean my husbands too

JIMMY

Hi I live in Scotland and was declared Bankrupt on 3/07/09 and did not have to appear at court or anything. I did not have to see any OR that everyone seems to have to see or telephone on the forum. Im on Basic benefits after loosing my job as a result of the recession. My bankruptcy was awarded under the LILA scheme. Why do so many people in this forum go to court, even the ones who are not working??

antarctica

Maybe it's cos you're in Scotland. Are the rules different?

thatsyourlot

I think we have a different system in England

antarctica

I have just spent a couple of hours going through all my paperwork and filling in my forms online. It was actually a lot easier than I thought it would be.

Roll on Tuesday or Wednesday when I get to bring them to the court.

Is it wrong to be actually kind of (nervously) excited?

This is at the prospect of being debt free