What is the worst thing that can happen?

weemiss

Hi everyone, im in quite abit of trouble and looking for advice please.

To cut a long story short i am in serious debt and was using a debt management company to pay small amounts to my creditors and was managing alright, but it would have taken about 13 years to pay everything off! Anyway i have recently changed job and am working less hours which obviously means less money.

Basically i could not cope with my job any longer as it was stressful and really long hours, i had been job hunting for a year and my new job was the only one i could get (due to my sickness record). i felt on the verge of tears the night before every shift.

My husband and i felt that i should worry about my health and happiness first and then money commitments.

So i have been advised to go bankrupt (citizens advice and CCCS) and although it sounds very scary i understand that its my only option. im just very worried that im going to be punished for walking away from a job that allowed me to pay small amounts to my debt.

What is the worst thing that can happen?

IF

Hello WM and welcome, First may I say you can't buy your health back.
If you have been recommended to go bankrupt by two of the debt charities, it shows this is your only option. I would listen to your husband, get well then proceed looking for a part time job,get your confidence back in yourself.
And if we can we'll all help you through your bankrupcy.

Take care
Ifwishes...x

weemiss

Thank you, just reading the advice on here is helping me sleep better!
Would a judge punish me for leaving my job though?

Citizens advice have said that bankruptcy will have "severe consequences" but havent exactly said what these are. i understand that my credit rating will be damaged for many years but i never wish to get any credit again in my life - i have learned my lesson, its not worth it!

xxx

IF

Hi, No I don't think the judge would, he is more concerned that you have taken advice beforehand, and you have with the debt charitiies. Have you a nice doctor to talk too?

weemiss

I am much happier now that i have another job, i really enjoy it. just a real shame i dont earn as much as i used to!

all thats worrying me now are the consequences of bankruptcy but i guess i just have to face up to it! as long as they dont lock me up it cant be that bad! haha!

philnicandamy

Evening weemiss.....whats the one consequence thats worrying you ?? bankruptcy is a strange scary thing & most of the time you'll wonder why you wound yourself up soooo much about things...I decided on bankruptcy after being retired from the NHS just over 3yrs ago but must have swapped changed my mind & backed out so many times...one things for certain it's the BEST decicion I ever made

IF

weemiss wrote: »

I am much happier now that i have another job, i really enjoy it. just a real shame i dont earn as much as i used to!

all thats worrying me now are the consequences of bankruptcy but i guess i just have to face up to it! as long as they dont lock me up it cant be that bad! haha!

Hi, that's brilliant that you enjoy it! No locking up required x

click on here to find our more about bankruptcy

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

weemiss

Well to be honest im probably making mountains out of mole hills. i have a tendency to over-react! haha

the halifax told me that baliffs will come into my home and sell my things if i go through with the bankruptcy (citizens advice have said this is in no way true!)
i have no assets to lose and live in a nice council property. it may sound childish but im afraid i might end up in court infront of a scary judge who will go through all my spending habits and humiliate me.

i dont think i have been very reckless - no gambling or anything- but there were times when i have spent money that i should have used to pay debt.

philnicandamy

As IWWH said IF and its IF you see a judge (sometimes you dont) they are only interested in asking if you have received professional advice & are aware of the implications of BR Halifax however are talking out of their rear ends as usual....(and your not alone...I worry about not worrying about things!)

angiebhfx

I had a similar experience to you hated working where I was and it made me extremely unhappy but i stuck at it because i had to pay my debts. Despite the fact that I worked really really hard they decided they didn't want me any more and offered me redundancy. I s41t myself at first and then I thought I don't need this anymore. I took a settlement, 10 weeks and I wasn't entitled to anything (I think they where worried I may have a case for unfair dismissal (and I would have)).

Anyway long story short. I didn't (haven't) found another job and without my income we have had to give up our house move and declare ourselves BR. Now apart from our conversation with the Examiner on 08/04 I am not to worried. I can honestly say that for the first time in years I have never been so content and happy. I see this as a new opportunity to learn new skills re-train maybe.

All I can say is good luck and yes your health does come before any amount of money.

Take care and use this forum lots cos the people on here are great. Wouldn't have been able to do it without the support of the guys on here, CCCS & Shelter.

weemiss

Thanks everyone, i feel alot better now. i have an appointment on tuesday with citizens advice to get the ball rolling on this thing, will look forward to the day when i dont owe anyone a penny!
my poor wee hubby will be relieved to! haha!