In court on Wednesday....

Angiepange

Hi D+D,

Try not to worry too much, I think by just being honest and telling it 'like it is', is the right thing to do.

We put a long explanation of our reasons for BR and alot of our debt built up due to consolidating, re-mortgaging, balance transfers, bad financial advice etc. and our BR wasnt refused. We went BR because redundancy, illness and huge drop of income left us with no other choice. It is easy to look back and think why did i take that loan etc out, but you cant change the past and you did what you thought was the best at the time to cope with your debts and reduce the interest. It seems to me when you took out your loans etc you intended to pay them back, you would not have been thinking 'oh I might go BR next year so I'll do it anyway!!!'.

If I was you I would be as straightforward as you can be, if your reason was consolidation then say so. I think you will be in a much better position to explain to the OR if you are not thinking 'should I say that ' or 'shouldnt I.'

I hope it goes well for you Weds, we have our OR interviews then so all the best to you.

Angie x

MicheH

Wednesday is a rough day for some of us then. My OR interview also at 10am. Stay chilled friends.

Desperate+Depressed

Good luck to the both of you......update this site with how you got on please x

I'm going to sit and retype my reasons, then I'll post it back on here and would be VERY grateful if you would please scan over it and tell me what you think

x

Desperate+Depressed

Here goes with the 2nd version of my "causes". Would be grateful of any advice x

I took a £10,000 loan out in Aug. '07 to use to consolidate an HSBC loan of £6,969.88 and £2,500 owing to parents. The remainder was to put my a/c in the black

Unfortunately in Sept. '07 I had to leave work unexpectedly due to ill health and start to claim benefits of approx. £100pw. Due to the lack of income, I struggled with the loan repayments, but saw this as a short term problem. I started to use a credit card to tide me over and help pay the loan.

Feb. 2008 I returned back to full-time work. In April 2008, due to improved financial income, I took out a £7,000 loan with HSBC. £1,752.11 was used to pay towards credit card, £1,501.88 for a new sofa and the remainder for home improvements.

Oct. '08 to consolidate debt with a better interest rate and to lower my monthly re-payements, I took out a Tesco loan for £9,000. This paid HSBC balance of £6,516.60 and remainder for car repairs and home refurbishments.

It is with regret I now find myself in the position of petitioning for BR. I have over £27k debt, with little ability to pay my creditors as I am now in receipt of benefits. I have taken advice from CCCS, who have advised I petition for BR.


Have I waffled too much???????

fiveyearplan

Hi D+D, that looks fine. The OR will certainly be used to seeing consolidation loans. You can't go by a day without hearing it on television or radio or newspaper etc. It is another version of robbing peter to pay paul . Now you've written it and finished the forms try and relax. I can't stress enough how the lead up to BR is much more difficult than the actual court stuff and having the forms stamped. Really - stop worrying and enjoy the rest of the weekend!

Desperate+Depressed

Thank you FYP......I will do my best to stop worrying, but I think until the judge has stamped that form on Wednesday, I won't be able to rest!

Is it too early to pour myself a Baileys??? :rotfl:

fiveyearplan

I'd say its about that time!! I'll pour.

fiveyearplan

Don't know why half the glass is missing - but you get the point!

Desperate+Depressed

Thanks, I've drunk that one! :beer:

"Please Sir, can I have some more"????:rotfl:

x

fiveyearplan

Of course, but you'll have to refill that one above - I'm not that quick at posting images.

I will however post another one on Wednesday evening!