New Year Still Broke

suzzybabe

Well Its 2010 I have decided to get myself sorted out

I am in a load of debt (£67.000) and am going to go BR

My friend said I should max out my CCs and overdraft before doing this as it all goes into the same pot probably another £23.000 on top of what I already owe.

She said I would be mad not to as all the Insolvency service can do is give me a BRU whatever that is

Is this true?

curly04

NO DONT DO THAT

I've heard that people might not be discharged at 12 months etc and my OR said my is 15 years is the longest that can still be applied

max them to get the fee's £510.00

good luck in what you do
Curly

debtinfo

The worst they can do is prosecute you which can lead to a prison sentence, so probably not a good idea, once you realise that you are inslvent you should not use anymore credit

Darnit_2

Don't do that Suzzybabe, they will crucify you for a long time. The receiver will go through your accounts over the last five years to see if you have been reckless, and this course of action certainly would be. The only thing you can get away with is an increase of about the cost of the fees by jiggling things around. Not only that, it is a very poor attitude to money and this is what makes some people angry about bancrupts. It isn't an easy option, you really need to do more research before you make any decisions. Don't listen to anyone who tells you things like that, find out from this forum and get proper advice. It may be the best course of action for you, but it isn't a decision to be taken lightly.

staffie1

It would also be totally irresponsible.

dojoman

As the others have said, DO NOT DO IT, BR is not something to take lightly, it should be the last resort. Have you had any professional advice? If you do what your "friend" says you could be in a lot of trouble. If you need any advice then just ask away on here, the advice you will be given is invaluable. Do not listen to anyone who tells you to be so reckless, it is just not worth it.

suzzybabe

I knew she was wrong in my heart of hearts

Am going to cut all my cards and draw a line Should I open a new acct for my wages so I can save for the fees?

BTW Thanx everyone for swift replies

curly04

if you ae not in debt with the Co Op they have an cash minder account , which has internet banking, and you can withdraw and pay in at the local post office

or there is barclays but no internet access

debtinfo

yes opening a new account is a good idea to totally seperate your old finances from your new one. THe Co-op and barclays do basic accounts that could carry on being used if you do go bankrupt.

We always recomend that you seek advice from either the CAB, CCCS or National debtline (details are in the stickys at the top of the threads page) as these give free impartial advice

suzzybabe

dojoman wrote: »

As the others have said, DO NOT DO IT, BR is not something to take lightly, it should be the last resort. Have you had any professional advice?

I did the CCCS Debt Remedy and it recommended?? BR was best solution

I did not know you could be prosecuted for debt!

Does anyone know the link so I can write down my SOA

If I post it here will anyone give me some pointers??

I owe money to co op So it will need to be Barclays which is bad because I like internet banking

confused76

http://www.makesenseofcards.co.uk/soacalc.html

have a go at completing this, once completed format for MSE and paste here, we'll all have a look for you.

can only repeat what others have said, please don't rack up debt when you have decided to go bankrupt...it will cause you no end of grief and just isn't worth it...