How I got here!

chinupchuck

Hello All!
Well I thought it about time I introduced myself and thanked all you lovely folk for all the threads you put up. I've only been coming on here a few days after my sister told me about it and it's helped me so much already.
Here's me: 25 female, separated with husband Xmas 07. He had some previous bad debts which meant that all credit was put in my name while we were together. He didn't have a bank account and his wages (about a third of what I earned) went into my account each month. About 6 months before we split up we bought a second home with a view to renting out the one we were living in at the time and living in the new one. I should've know that this wouldn't fix the problems in our relationship but thought it was worth a go anyway. I'd done quite well out of the property market before and didn't ever predict the massive downturn in the economy or the loss of values on properties.
So at 23 I had a great job which paid me very well, two mortgages, two credit cards, two loans and a car finance agreement. I never used my overdrafts and rarely needed to touch my cards.
After we split he refused to live in either house and also refused to contribute to any bills or mortgages etc. At the same time I had to take a 10% drop in pay and had to start paying for my own fuel (i lived 30miles away from work and my car was very thirsty!). It was about this time that I started using my credit cards to pay for the mortgages and fuel and food and virtually anything I needed. Then I had to start using the overdrafts to pay for the credit cards.
Then on the advice of friends and family I moved back into the "first" house. It was closer to them and work, cheaper to maintain and better for my dogs as the garden was enclosed.
I paid the mortgage on the other house for another two months using my credit cards and overdraft but that had to stop as I was getting in deeper and deeper. I stopped paying the motgage on the second house in May 08. The bank reposessed it in September. I went to the court and spoke to the banks representative and she said if I wasn't living there I could hand them the keys that day so I did. I spoke to the judge who asked if I was ok with giving the house back that day and I said yes.
The bank didn't reposess the house until December. Somewhere along the way, the keys were lost, my permission to enter was lost, my eviction notice was passed between four different departments before being sent to the right address.
The house was sold in March 09 for £40K less than what I bought it for originally. and I now have a £44K bill to pay for arrears, court fees, solicitors costs and the shortfall in value.
Since being back in the first house things have been easier, but the creditors keep ringing, and my wage has been cut again, this time by 25%.
Smile/Co-op who I've banked with since I was 15 have dropped me right in it. They cancelled all my DDs, standing orders, cards, chequebooks everything and refused to give me the full balance of my account (I'd just been paid so had money in it) until I agreed to give them £400 of it to use towards arrears on my other accounts (CC, loan, overdraft). Since then I've had to have my wage in cash and as I'm not driving (can't afford car payments, insurance, tax, MOT) I find it near impossible to get to a post office to pay my bills while they're open as I work 9-6 monday to saturday.
I've no way of paying off the debts I've got and the only way I can see forward is to declare myself bankrupt. I went to see an Insolvency Practitioner a few weeks ago and he looked over my paperwork and said an IVA wouldn't be suitable and BR was the only realistic option and sadly he couldn't deal with it and said I'd have to get myself through the process. He did offer to help me with the forms though free of charge!
My boyfriend decided to take me away for a week camping to take my mind off things at the beginning of July. Off we went. I asked my mum to check on the house and the post on our second day away. My heart sank when she said I had a letter saying the bailiffs were coming in 6 days to respossess the house. We only had four days away before having to come back and pack the house up. I hired a van which my mum paid for and moved everything out. I have bits of stuff stored at friends, relatives, parents, even work. I'm staying with my Mum until I can rent somewhere (it's not practical to stay there long term as there's not enough space). I haven't been paid for June and had only half my wage in May. I know the company I work for is really struggling, but I'm holding out hope that they'll make it through the recession and I'll have a job at the end of all this.
So now I'm stuck in Limbo. I can rent somewhere until I get paid. I can't go BR until I have a place otherwise I'll have no chance of getting one until after discharge.
Any advice anyone?

antarctica

Hi and welcome.

I don't have any advice but good luck, a brilliant bunch of people on here and they give great advice

A
x

chinupchuck

Thank you! Hope I get a few more replies! Feeling a bit lonely! lol

fatou256

first and foremost take some advise from National debtline they are impartial, neutral, non judgemental and very good.... .

if you have no asset , then i think Br is your option but this is my opinion and by what your tsaid you went to see an insolvency pratictioner who told you the same.

the BR will wipe off all of your debt apart from fines, debt from fraud and CSA arrears .

i am sorry to hear your problem it must be difficult for you with al this stress have you got some support from friend and/or family ?

chinupchuck

Thanks fatou. My Mum, Sister and Boyfriend have been fantastic, they've all given me a shake and woken me up from my head-in-sand state. Staying with my Mum at the moment until I get paid then hopefully I'll be able to get myself a place to rent.
I've spoken to estate agents who've said that while adverse credit will not stop me getting a tenancy, a BR will so unfortunately I'm going to have to get a place sorted before I can get the BR through. ARRRGH!! it's so frustrating not being paid!!

tigerfeet2006

Definatly sounds like it will be your only option. But get some more professional advice. Also read the Bankruptcy Help sticky and as many threads as you can, get yourself knowledgeble about everything you can, knowledge is power. Ask questions about things you don't understand and read some more.

tigerfeet2006

chinupchuck wrote: »

Thanks fatou. My Mum, Sister and Boyfriend have been fantastic, they've all given me a shake and woken me up from my head-in-sand state. Staying with my Mum at the moment until I get paid then hopefully I'll be able to get myself a place to rent.
I've spoken to estate agents who've said that while adverse credit will not stop me getting a tenancy, a BR will so unfortunately I'm going to have to get a place sorted before I can get the BR through. ARRRGH!! it's so frustrating not being paid!!

Renting after BR is not impossible, there are several posters who have done it. It just takes time and effort and an LL who realises as a BR you are a good risk because you have no debts.

Is it time to be looking for other employment if you are not getting paid? It's all very well being loyal but how long can your present employer hold out in the present climate.

Check out https://www.entitledto.co.uk to make sure you are getting the right tax credits etc.

Xaviera

chinupchuck wrote: »

Thanks fatou. My Mum, Sister and Boyfriend have been fantastic, they've all given me a shake and woken me up from my head-in-sand state. Staying with my Mum at the moment until I get paid then hopefully I'll be able to get myself a place to rent.
I've spoken to estate agents who've said that while adverse credit will not stop me getting a tenancy, a BR will so unfortunately I'm going to have to get a place sorted before I can get the BR through. ARRRGH!! it's so frustrating not being paid!!

I would also contact your local authority and explain the situation re; housing. (say you can't stay at your Mum's long term ) and I'd also contact Shelter about housing options.

best of luck, at least you tried ey?

chinupchuck

Bit of an update and some questions..
I've now been told that the company I work for will be going into liquidation at the end of August/Early September. There's no money in the company to pay my wages for June, July or August. I'm looking for jobs every day and have been sending CVs off and applications for just about anything, even things I know I'm not really qualified to do!!
I've got myself on the housing register with my local authority and they've said I'll be a High housing need case which is slightly lower than Priority, but I've a good chance of being housed by the end of August apparently and I've got "bids" in on just about every place I'm eligible for that's not a complete dump. Yes I know, beggars can't be choosers and I'll need to accept whatever they offer me at this stage.
So questions..
1. The house I was living in that had a resposession order on it for the 8th of July is still vacant. We've been popping in and checking the post every few days (can't do mail redirection until I've got a new place sorted really) and nothing has come from the court or the lender with the repo order to say they've got a warrant to enter or that they're even going to be coming.
If a bailiff has come to enter or a warrant has been made when will I find out?
Also, we've left curtains/blinds open so it's clear there's no one living there, if the bailiffs have been why haven't they entered and changed locks?
How long do these companies usually take to do this? When I spoke to them on the phone about a month ago, they said that a warrant would be sought on the 8th July and it's usually two weeks after that they enter the property and then begin marketing it.
Because it's the secured loan company who've sought the repo would the mortgage company try to block them from doing this as they have a greater amount owing to them? Are they informed of a repo order? There's also a charging order on the property from my divorce solicitor who I owe just over £1000. what kind of implications would this have on the reposession?
SORRY! So many questions!!!
2. I want to make some token payments to my creditors but since Smile cancelled all my cards, cheque books, online money sending facilities and rendered my bank accounts useless, I've not been able to get myself a bank account. How would I send them the token payments? This one's a bit theorhetical as I've no money to send them at present and will have to wait until my benefits start coming through in September after my redundancy is formal. And would it be worth me getting a Barclays account (the one for BRs) now to have my benefits paid into? Would the OR take this from me when I go BR? Would I be able to get another account again after BR if it's been frozen? I've read on here that co-op are unlikely to let me have a cashminder account because I owe them money and will be putting them in as a creditor in the BR.

If you've got this far down the thread, THANK YOU!

chinupchuck

mustbedebtfree

Hi There

I don't have advice for you, but just wanted to offer support!

I'm going the BR route at the moment and it is very difficult, but there are so many people here for support

MBDF :j

iolanthe07

the BR will wipe off all of your debt apart from fines, debt from fraud and CSA arrears .

And student loans.