lied about job on loan form £27000 in debt

danconet

Hi, i know most of you will think i am scum, i don’t blame you.
But please understand I never thought it would come to this..

I have been out of work for almost ten years with mantel health problems and about a year ago i thought my health was good and believed i could start work soon, i planed to start my own roofing company and also wanted to start a website with a friend thinking i would make the money for the repayments i went out to borrow some money.
I was told that if i tell any one that i am not working they would not lend me any money. So yes I lied i said i was working and gave my mum and dads number and address saying i worked there and i took home a nice wage.
My first loan was from a supermarket in the high street, they gave me £10,000 unsecured loan. Then after that i got lots of offers for cards in the post, so i went for 2 and i got them for a total of £9,000 on the two cards, the cards were to cover the loan payments until I started to get my own money from work.

Now all of this and i am not working and on income support and have no way of paying them all back until i start work but i was ready!.
i started to get ready for work and to most of you that would mean getting dressed and start driving to work, but sadly for me after being out of work that long i had a lot to deal with, and still did not feel 100% well.
So as the weeks went on i sadly got a lot worse to a point were i was feeling as low and unwell as i were 10 years ago.
So now over the last year i have lived on the money paying peter to pay paul as they say. the cards paid the loan payments and bills got paid for some time, but now i have come to an end with no were to go.

i have been to see C.A.B and they told me to make small monthly token payments and that i should go bankrupt due to the stress and large lack of funds to ever pay these back. i have told them the truth of my lies to get money but they said its the banks fault but i know its mostly my fault, but what i need is help and advice.
What shall i do now? Please there are two things I need to know 1.can i or will i do time for these crimes 2.if i were to go bankrupt would these debt still be wiped.

Please any help would be so welcomed, i just want a second chance and to get back to work with out all this guilt and debt over my head. i have two fantastic kids and i love them i just want to get back to building my life but i can never do this with this much debt total off £27000 what would you do?

Thanks and sorry for the long post

nomoneytoday

Can you not still start the roofing business, whilst paying a token amount until it takes off?

duggie1982

As the OP said. They cant manage to start work due to health problems.

You should check out the other boards on this forum about bankruptcy and that will give you some advice.

YelloBellyGames

Having been in a similar space you have my sympathy....
Whatever you do, make sure that you follow the advice the CAB have given to you. Do NOT be tempted down the IVA route (as I did). Lenders are OK providing you speak to them and then make the effort to do something.

You say you're not ready to go back to work (I am assuming full tilt), can you go back say 3 days a week, or afternoons or something, just to get you back in the groove?

I am pretty sure that fraud may come into this, but there is also something called responsible lending, which is getting a little hotter in the UK currently so whilst it isn't to say it won't happen, as long as your health is verified I doubt there is a bank in the land that would want to progress!

Right now you need to focus on what is important to you, that’s your family, they need you to get back to where you were, so get back on the horse, stop feeling sorry for yourself and do something about this!

1. Contact your lenders; tell them that you have a circumstance change
2. Arrange a realistic payment plan with them
3. STICK TO THE PLAN(s)
4. Get yourself back in the market place and get a job (part time to start)
5. Join the debt free wannabe group on here
6. You have your goal, that’s your own roofing business, shoot for the stars!

Finally dont be frightend to ask for help, that was my problem, I felt I couldn't go anywhere (this here forum wasn't what it is now), I dived into an IVA, and now look I have paid my debts in full, and am now left with a huge blot, and can't get a car!

Good Luck!

danconet

the problem i have is that i am unable to do a full weeks work due to my health, but some days will be ok and some will not but thats life, when i start work they will try harder to get there money and i can't be shaw if i will be able to work and cope with the debts, it will be ok if they can work with me untill i earn more. but sadly i know if i went bankrupt i would have a clear mind and could try to turn my life around quicker. i am just building facts to see what raod i should take . thanks so much for your reply

danconet

just seen the last post thanks for your words you are right.

hopefulfooluk

danconet wrote: »

Please there are two things I need to know 1.can i or will i do time for these crimes 2.if i were to go bankrupt would these debt still be wiped.

1. No - you are not a criminal.
2. Yes these debts would be covered by a bankruptcy

Don't worry! Just call the CCCS and National Debt Line, explain the situation and they will help you find a way forward. If that way forward is bankruptcy, then pop over to the bankruptcy board and we'll help you through things. I have been in the situation, it is not pretty, but there is always light at the end of the tunnel.

Good luck

_Andy_

Danconet - you should post on the DebtFreeWannabe part of the forum (see the drop down menu), you'll get some good advice there.

Kimitatsu

hopefulfooluk wrote: »

1. No - you are not a criminal.
2. Yes these debts would be covered by a bankruptcy

Don't worry! Just call the CCCS and National Debt Line, explain the situation and they will help you find a way forward. If that way forward is bankruptcy, then pop over to the bankruptcy board and we'll help you through things. I have been in the situation, it is not pretty, but there is always light at the end of the tunnel.

Good luck

This is spot on advice. Yes you culd go down the tack of mental health and irresponsible lending BUT you also lied knowingly on the form, so to be honest I wouldn't even start that conversation.

As you are on IS then you will not have to pay any court fees but you will have to find the £360 for the bankruptcy petition. Given your fragile health, I would say that going bankrupt is your best option as it will take away the stress that it is putting you under.

Take care of yourself

_Andy_

hopefulfooluk wrote: »

1. No - you are not a criminal.

Technically the OP has committed fraud so I'd disagree with that.

~Brock~

_Andy_ wrote: »

Technically the OP has committed fraud so I'd disagree with that.

"Yes, but its only against a loan company so it doesn't matter"..............I think suitably sums up society's view of the matter.