Does anyone regret going BR?

inked

Nope.
I regret getting myself into over £40k of debt by the age of 23 (I'm now 31) and having nothing to show for it.
I regret being talked into taking out a bad consolidation loan with the bank and then still using the credit cards to live on.
I regret sticking my head in the sand for nearly a year with the debt getting worse.
I regret listening to the CAB worker who wasn't interested in giving me useful advice but looked down his nose at me instead.
I regret not telling my parents about my ever deepening debt problems.
I regret that by letting it get to the point that Bankruptcy was the only option it meant the I also lost my bonus from work for 3 years (we don't pay out to bankrupts as it goes straight to the OR)

But I DO NOT regret going bankrupt, I believe that everything happens for a reason, and I wouldn't be where I am or the person I am unless I had lived the life that I have.
I now only have debts that are manageable (not all debt is bad debt!!) I have a beautiful wife and a nice house and car.

There is definitely a life after Bankruptcy, although it can be very hard to see at the time! The answer is to not give up, take one day at a time and things will get better.

rog2

Rupert_Bear wrote: »

Personally speaking if I went BR I would make me feel really ashamed that companys and people who trusted me I had let them down.

I was about to reply to your post, but decided, first, to look at your personal profile to read some of your other posts. I'm glad I did, because you have the hallmarks of a Troll.

FACEDUPTOITATLAST

I did everything I possibly could to not go bankrupt - A creditor petitioned for my bankruptcy - I fought it every step of the way, but they still made me Bankrupt. To be honest, it was the best thing that could have ever happened. AD on tuesday

rog2

FACEDUPTOITATLAST wrote: »

I did everything I possibly could to not go bankrupt - A creditor petitioned for my bankruptcy - I fought it every step of the way, but they still made me Bankrupt.

Same for me - in my case HMRC petitioned for my bankruptcy, just as I was beginning to think I was getting somewhere over a disputed 'assessment'. After the 'initial' shock, and taking advice from the 'bankruptcy and supporters' thread, that has since evolved into this forum, I went to the High Court, where I was 'offered' a six week adjournment to 'allow' me to pay over £80k which I did not owe. I declined their offer.

headoutofsand

rog2 wrote: »

I was about to reply to your post, but decided, first, to look at your personal profile to read some of your other posts. I'm glad I did, because you have the hallmarks of a Troll.

OOPs. Missed that one didn't I, ah well. See what you mean Rog2;)

boltonangel

wxmlad wrote: »

sometimes, i miss my nice car and having credit cards for a feeling of security ,. but none of these things were mine. But owing so much money i couldnt pay back, the endless phone calls and letters, thinking constantly about ways around money problems like paying one card more one month so i could use it to to buy some shoes for work, constant arguments at home, the feeling i was working for nothing and the depression that came with that feeling it was never ending. Im still suffering slightly now , its only been a few months from BR. But i feel as if I've been let out of prison, before i felt trapped and doomed to 80 years in a DMP! now i may have nothing, but i have a learnt some much. and things will get better.

People say ' ooo you wont get credit for 6 years and then it will be hard' ermmmm i couldnt get credit before anyway, and who was going to give credit to me when i couldnt only afford £3 per creditor on a DMP till i was 80!

Couldn't agree more.

I've been BR for 2months and at first I felt guilty about it - but now I just wonder why I didn't do it earlier (I sold my house and paid all the equity to credit cards etc. a few years ago.)

I worked in banking and can't ever return into it due to having to declare BR status even after 6 years have passed, but there are other jobs out there and at least I will be working for ME and not my creditors.

out_of_cash

hi all,

only my opinion but i do think rupert bear is from another galaxy.



Banks lent way 2 much,they were extra greedy adding huge charges onto peoples accounts,not willing to negotiate fairly"ie" i am unemployed sorry sir we can help you we will shove your interest rate up from 4.9% to 34.9% i had 3 accounts with a major bank and they all done this to me in one way or another,it comes down to peoples circumstances can and do change .All the banks need to wake up smell the coffee and start earning their living when they underwrite loans because they are all to late and i for one wouldnt cry a single tear for any they are now getting a good kicking rightfully deserved.


only thing i regret is i didnt do it 5 yrs back, its 8mths into my br and still kind of toys with my mind have the extra stress of splitting with my partner of 16yrs and the sale of the house yet to come.I will really miss where i live,its just a 3 bed end of teraced house shared ownership obviously bought to live in and not a get rich quick scheme,just a home.Will walkaway with a bundle full of great memories and much sadness.

There is a cost in bankruptcy and i dont mean to the creditors its the emotional fallout that sometimes can come with this

Regards to all

out of cash.

out_of_cash

Well said headoutofsand

Better to be poor than a slave to wealth :beer:

out_of_cash

hi
FACEDUPTOITATLAST

did you own your own house and if so was there loads of equity in it?

if not they were just being bloody minded:mad: and i really sympathise with you about having to sell and pay all the equity to the credit card companies i was sick to my back teeth of using my lifes savings every few yrs a job came to an end to pay those creds their days are over,no more interest on interst on interst for them

least not from me:p

good luck to you

out of cash

FACEDUPTOITATLAST wrote: »

I did everything I possibly could to not go bankrupt - A creditor petitioned for my bankruptcy - I fought it every step of the way, but they still made me Bankrupt. To be honest, it was the best thing that could have ever happened. AD on tuesday

Lost2

wxmlad wrote: »

nah these companies kick you when you were down - lost jobs, family brake ups etc , they pile on the interest and excessive charges instead of helping you. leaving you no option but to go BR. I dont think there is anyone on here whos life goal was to go BR and i dont think when they took out credit it was their intention to go BR

Well said wxmlad,