Back from honeymoon made redundant..help

chamb7914

Dear all

I got back from honeymoon on Monday and was told today im being made redundant and will be home by the end of the week for good ...jobless.

I am currently in a debt management plan which if out of work i will be unable to afford to honour. I took responsibility for my debts as no-one accrued them other than me but know deep down that i will not be able to continue paying them. The questions i have are:

1. How do i go bankrupt
2. How much does it cost
3. Will it effect me and employability in the future
4. Will it effect my new wife as i dont want to ruin her life before ours has properly started.
5. Will the Army pension i was awarded after 12 years service payable when im 60 be effected
6. Anyone please please help me as i don know what to do debts debts debts, new wife four kids and rent to pay...feels like my life is over

hope i have not been to forward but time is of the essence and i fell empty and lost

Graham

miss_spooky

chamb7914 wrote: »

Dear all

I got back from honeymoon on Monday and was told today im being made redundant and will be home by the end of the week for good ...jobless.

I am currently in a debt management plan which if out of work i will be unable to afford to honour. I took responsibility for my debts as no-one accrued them other than me but know deep down that i will not be able to continue paying them. The questions i have are:

1. How do i go bankrupt - download form, fill them out, find out which is your local BR court & find out their procedures, Some do drop in, some do by appt.
2. How much does it cost - £510.00
3. Will it effect me and employability in the future - depends on what you do, some financial jobs not sure of others.
4. Will it effect my new wife as i dont want to ruin her life before ours has properly started. Only if you have any joint debts. If she is not going br then she WILL have to pay for the joint debts.
5. Will the Army pension i was awarded after 12 years service payable when im 60 be effected - Don't know about this, sos.
6. Anyone please please help me as i don know what to do debts debts debts, new wife four kids and rent to pay...feels like my life is over. May feel like it at the mo, but your life is not over, you have a new wife, 4 kids and will be debt free soon! What more could you ask for...:j

hope i have not been to forward but time is of the essence and i fell empty and lost

Graham

Chamb7914,

Congrats on your marriage. So sorry to hear your bad news on your return from your honeymoon. You will find some great people on here who have been through simular situations who will offer great advise.

The first thing you will need to do is to get advise from one of the free charities like CAB who do a drop in first then will make an appt for see money advisor, National Debtline who will go thru everything when you rings, you may have to hold for a while. Or CCCS who will go through things then make a tele appt to go thru it all thoroughly. You will ahve to do thuis as you will be asked by the judge if you have taken advise to make sure you understand everything fully.

You will need to put together a Statement Of Affairs (SOA) use this link, when completed after pressing calculate button, click the MSE format button it will open a notepad screen, copy & paste it onto this thread.
http://www.makesenseofcards.com/soacalc.html

That's enough to be getting on with. Post up your SAO when you've done it as we can take a look. Also let us know what debts are joint, are you renting privatly or is it related to the army?

Good luck and have a welcome drink:beer:

philnicandamy

and a fair bit of reading here for you as well

http://forums.moneysavingexpert.com/showthread.html?t=1056083

fiveyearplan

Congratulations on your marriage - at least you gout the honeymoon in and didn't get the news beforehand - it would have put a dampener on the holiday!

So_Sad_Angel

Hi Graham

Congratulations on your marriage. Instead of seeing this as a negative....please look at it as sorting out your past life. If BR is the way to go(last resort) then get it done, move on, leave your past life behind.

Get advice Honey from the debt charites....see what your options are....look forward not back.

Keep posting as your situation will help others.

Angiexx

chamb7914

Also let us know what debts are joint NO JOINT DEBTS, are you renting privatly PRIVATELY or is it related to the army?

Good luck and have a welcome drink:beer:[/QUOTE] AM DOING NOW LOL:beer:

kew63

Army pension will be ok - hubbie just gone BR and his OR just written to say army pension isnt affected :-)

Definately get to see or talk to CAB, CCCS National Debtline. When going BR they do ask at court that you have taken advice.

Welcome aboard, great people on hear with loads of advice so, get the ball rolling and you'll soon feel a lot better.

Congrats on wedding BTW, our return from honeymoon last year wasnt brilliant either, and 1st year of marriage has been errrr different, but still think my hubbie is the bees-knees and hopefully luck will start to change, for you as well :-)