Admitting BR to your children

Feelingfoolish_3

Hi
Some of the posts today have made me smile, thank you. My court has a drop in service and I'm planning to 'drop in' in the middle of August.

There is just me and my 16 yr old at home and although I have the support of my family, albeit it Im very embarrassed, they are great. Im always honest with my son and need to tell him what the score is. Now I can explain bankruptcy to clients day in day out no problem however its taken me a long time to explain br to myself, Im just wondering if anyone has any tips on telling their children.......

thanks once again

Holes_in_my_pocket

I thinking it would be a good idea to explain why and hopefully teach the down falls of credit

money_penny_26

hi there an dont feel foolish.i feel for you to tell your son,we have a 23 year old an it is awfull,but i have to say if you dont tell your son he may wonder why you are bound to be ..a bit more bad tempered than usual,snappy or whatever is constrewed to be not being his NORMAL DAD.TELL

money_penny_26

sorry pressed wrong button..to continue tell your son it will let him be aware that its a tough world out there.it will also hopefully keep him away from debt in his future.to also know that his dad can make mistakes.we are all with you i am sure on this one. regards col

Feelingfoolish_3

Thanks for your replies - Im his mum LOL but yes I will tell him, but probably after I have 'dropped into court' for a cuppa and a BR order

fiveyearplan

Also explain that it is nothing to be ashamed of and that there is also nothing for him to worry about.

Holes_in_my_pocket

wonder if alan sugar and peter jones told there kids

Merry_Gentry

I told my two eldest girls. I explained about why we lost the family home, no credit, all of it. They were absolutely amazing - aged 14 and 11 - asked sensible questions, and are very budget conscious. Not obsessed, just conscious. They know if they want something expensive, we save for it because we don't have credit (even though I'm now discharged). They know that treats are just that and are grateful, and they have been incredibly supportive.

It has been a tough journey - I split with their stepdad, losing their home, moving house twice - but we are doing pretty good, and have never been closer.

Feelingfoolish_3

Hi Merry Gentry
Thank you for replying, sounds like a wonderful relationship you have and thats great. I have a great relationship with my son and im sure he will understand but he is also a worrier so i have to be really clear that it isnt his fault etc, we may need to move house and ive tested the water with that and he 'doesnt want to move' but we went through that years ago when i got divorced and its wouldnt be such a big move this time. Thanks again, your girls sound lovely x

oops guess i got the pm wrong then...............

headoutofsand

Feelingfoolish wrote: »

Hi Merry Gentry
Thank you for replying, sounds like a wonderful relationship you have and thats great. I have a great relationship with my son and im sure he will understand but he is also a worrier so i have to be really clear that it isnt his fault etc, we may need to move house and ive tested the water with that and he 'doesnt want to move' but we went through that years ago when i got divorced and its wouldnt be such a big move this time. Thanks again, your girls sound lovely x

When mine found out, before the s hit the fan, one informed me that two of her friends dads had gone BR and one had lost millions. My other daughter explained how her mates at Uni had also gone BR, to get out of paying the Uni fees ( Before the crack down). Then the bloke up the road, who had seen my name in the paper told me he would do the same, before I knew it I was surrounded with BR's crawling out of the woodwork.

So don't make it out as a big deal, after all just look at who has gone before you. Just for you and the new arrivals
Check this out
http://forums.moneysavingexpert.com/showthread.html?t=1492635&highlight=famous+bankrupts

Feelingfoolish_3

List printed!! There is hope for us all...................

cheers :-)