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What to do next?

I_can_see_trouble_ahead
Posts: 7 Forumite
Hi All,
Just need some advice from people who have lived through the same problems I have now.
Bankruptcy looks imminent I have just offered my biggest creditor £4k to clear the debt and advised if they do not accept we will have absolutly no option but to go bankrupt and they will get nothing due to the money we are offering being loaned from a relative. We have no assets (well we have a car worth about £2300) and are living with relatives to try and pay back some of the smaller debts from our benifits ( and we have even started to fall behind on them).:eek:
Has anyone else had any similar dealings with full and final offers being accepted / rejected. We owe around £19k to this creditor and after losing my job due to illness in October I will never be able to meet the repayments as I will never be able to earn that sort of money again after my illness as the job is too stressful especially with my 19 month old daughter on the scene now.
Never thought I would ever be considering bankruptcy as worked since I left school in 1991 and have never claimed benifits until now. I have spoken to the CCCS and they tell me to go bankrupt every time I call them but I just cant bring myself to do it as it dosent seem right and who knows what will happen in ten years time I may want to set up a business and I wont be allowed.
Any advice on any of the above points will be mucho apreciated
:wall:
Just need some advice from people who have lived through the same problems I have now.
Bankruptcy looks imminent I have just offered my biggest creditor £4k to clear the debt and advised if they do not accept we will have absolutly no option but to go bankrupt and they will get nothing due to the money we are offering being loaned from a relative. We have no assets (well we have a car worth about £2300) and are living with relatives to try and pay back some of the smaller debts from our benifits ( and we have even started to fall behind on them).:eek:
Has anyone else had any similar dealings with full and final offers being accepted / rejected. We owe around £19k to this creditor and after losing my job due to illness in October I will never be able to meet the repayments as I will never be able to earn that sort of money again after my illness as the job is too stressful especially with my 19 month old daughter on the scene now.
Never thought I would ever be considering bankruptcy as worked since I left school in 1991 and have never claimed benifits until now. I have spoken to the CCCS and they tell me to go bankrupt every time I call them but I just cant bring myself to do it as it dosent seem right and who knows what will happen in ten years time I may want to set up a business and I wont be allowed.
Any advice on any of the above points will be mucho apreciated
:wall:
0
Comments
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To be honest, if the CCCS is advising you to go down the bankruptcy route then it is your best option because they don't do that lightly. Bankruptcy isn't the black hole it may seem. It happened to me 2 years ago and I thought it was the end of the world, but for me I got my life back. 2 years on I still can't get credit but then I don't want it. After the 1st year you will be discharged from bankruptcy, then after 5 years, (in total), bankruptcy has to be removed for credit reference agencies, so there is life after bankruptcy. I can't tell you whats best for you, all I know is that the situation I was in was destroying everything including my relationship so when I look back I know it was right for me. I hope this helps, good luck0
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I_can_see_trouble_ahead wrote: »Hi All,
Just need some advice from people who have lived through the same problems I have now.
Bankruptcy looks imminent I have just offered my biggest creditor £4k to clear the debt and advised if they do not accept we will have absolutly no option but to go bankrupt and they will get nothing due to the money we are offering being loaned from a relative. We have no assets (well we have a car worth about £2300) and are living with relatives to try and pay back some of the smaller debts from our benifits ( and we have even started to fall behind on them).:eek:
Has anyone else had any similar dealings with full and final offers being accepted / rejected. We owe around £19k to this creditor and after losing my job due to illness in October I will never be able to meet the repayments as I will never be able to earn that sort of money again after my illness as the job is too stressful especially with my 19 month old daughter on the scene now.
Never thought I would ever be considering bankruptcy as worked since I left school in 1991 and have never claimed benifits until now. I have spoken to the CCCS and they tell me to go bankrupt every time I call them but I just cant bring myself to do it as it dosent seem right and who knows what will happen in ten years time I may want to set up a business and I wont be allowed.
Any advice on any of the above points will be mucho apreciated
:wall:
Hello and Welcome ICSTA, As greenant has said cccs is helping you and you are doing the right thing, do as they say... things don't suddenly become right over night!
I too never claimed any benefit before becoming ill.
Can't help with offering creditor's money to clear the debts, as this wasn't an option for me. Someone may have experienced this on here.
Take care and keep chatting on here, it's good to get it all out!!!
Ifwishes...x"If wishes were horses, then beggars would ride"
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If you have been advised to go down the BR route then this may be your best option! If you don`t ask you don`t get but you will find your creditors unbelievably blinkered, but as you are offering just over 21p to the pound you may be lucky, heres hoping that they will accept it.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0
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