Declarying bankcruptcy - I think it's the most sensible thing for me to do

Ryan.Maloney

What is "SOA"?

Warriorsith

If I'm right it shows the Breakdown of all your debt, which some people include as their signiture under their posts.

I think you should quit uni for the moment and concentrate on getting an income to start reducing your debt. £20k debt seems to be the amount most students are in these days and they seem to cope, does the uni not provide you help in discussing debt and how to work and go to uni at the same time like millions of other students?

Bankurptcy will leave you with a mark against your name for years to come. You need to listern to people trying to help you here who have been in similar or worst situations then yourself in regards to amounts of debt.

missk_ensington

Okay, you're not studying dentistry, or law. But the other option was medicine?

I'm going to be blunt now.. no offence intended..

This is all a crock of !!!!!!, my degree isn't a 'mickey mouse degree' either, but I still manage to work 16 hours a week and raise a baby by myself. You live in london? there's no reason why you cannot get a job, be it everning work in a nightclub/wine bar. I would do it myself but by the time I'd paid a babysitter, I'd probably only earn a fiver all night. You don't have that concern.

You suffer from mental health problems? Well apply for DLA if its as serious as you ake out, it it affects your day to day living then you can claim. I've seen claims for autism, depression, skitzophrenia, bi-polar.... That would bring you 20-50 a week if you're eligible.

I'm inclined to query your future job prospects in the medical profession if you've got mental health problems. It may be against employment rules to discriminate, but it doesn't stop people doing it and putting a different reason on why you dont get the job. Im mildly disabled, I have a heart condition and a pacemaker, and on interviews when Ive declared it, Ive not been 'suitable' for the job, when I haven't declared it, Ive got the job. Co-incidence? Maybe.

I don't think you want to pay this money back, its easier to have it wiped clean than scrimp yourself for years and years. I know it all too well cos my ex-partner did it.

You can do your degree part-time, ir intercalate. Its usually 3 years fully time or 5/6 years part time. It's not ideal, but then neither is your situation. If you have no family down there, you could also move to somewhere up North where living costs are about £60 a week including your bills and everything!

lynzpower

Lots of good advice there Miss_K, although I do agree with you that he doesnt want to pay the money back. Even if he is doing some "mickey mouse" course ( ooooh that really did pi55 me off too) at the end of the day, whats the point if you cannot live.

ryan, id love to have you prove me wrong. Have a look at the post "first time posters" and read all that Southern scouser has written. there you will learn all you need to know about SOAs and a bit about snowballing.

Good luck.

missk_ensington

I'm not entirely sure what constitutes as a 'Mickey Mouse degree', perhaps the OP thinks all degree's that aren't law/medicine/dentistry are mickey mouse? Don't quote me on this, but last I checked 'vocational' and 'Mickey Mouse' were synonymous, I always associated 'vocational' with on-the-job, NVQ type degree's (I work for a Vocational Awards organsation which accredits schemes/degree courses).

Ryan people would like to help you more if you didn't appear to be such a stuck up Hoorah Henry (my current visual image involves a side parting...) You are coming across as a bullsh1tt1ing conservative pig, hence the information drought. People are advising you but you're hell bent on doing what you wanna do anyway, so why ask for advice?

We're more than happy to help people, but only people who want to be helped

Bloke_with_a_simple_life

Ryan.Maloney wrote:

What is "SOA"?

SOA = "Statement of Affairs": Some links:

1. Start off by reading the stuff here: "Where to Start with Problem Debts" http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1094132767,59163,

2. Example of SOA layout can be found on the spreadsheet tools or online planner links at the "Budget PLanner" page http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1089226742,17582,

Use these templates to drive an initial SOA out and post it up here.

THen you will be able to get some really good advice from people on:
1. reorganising your spending;
2. managing the debts you have;
3. reprioritising the important things;
4. hopefully avoiding more unpleasant things such as bankruptcy.

Good luck!

bingo_kitty

Hi,

Ryan, if you decide that bankruptcy is the best option for you all I can say is you should be honest.

If the OR suspects that you have obtained credit fraudulently or misrepresented yourself on an application or even obtained credit [by telling the truth] but knowing you had no hope of repaying then you are liable to be subject to a bankruptcy restriction order which can last up to 15 years. Also you probably know that details of the bankruptcy are published in the London Gazatte and local newspapers as well as on the Insolvency Service website. Even if you try to hide some of your creditors they tend to come out in the end.

I'd think very carefully about my choices if I were you and try really really hard to make a debt management program work - like CCCS or Payplan.

I hope things work out for you