Back on the straight and narrow...

Eager_Elephant

If your house is rented is there anything in the tenancy that precludes you going bankrupt, sometimes there can be but as long as your rent is up to date and you have been a good tenant then the landlord should let you stay. It would be best to notify him in advance as the l/l will be written to to confirm the tenancy.

How secure is your tenancy? Will you need to move any time soon (more rooms etc)? Bankruptcy obviously has a big impact on credit searches so you may be turned down for a new tenancy although sometimes this can be got round by providing a larger deposit.

I'm also wondering whether all your debt was run up prior to you meeting your partner, if it was not and you have run it up together would he be prepared to pay something towards your debts or cover an additional bill - not sure how you work out the household bills.

EE

SarahNeedle1872

After tossing and turning all night, and doing some sums this morning, I have decided to go for the DMP.... I thought it was for 12 yrs but when I checked my figures, it was actually for 18 1/2:eek: But I can't fuffed with selling my car etc, and I want to pay back all the money I owe...

So today I hit the 'proceed' button on my Debt Remedy, and the ball is now rolling

Just gotta sort out OH's now....

Thanks for all your input guys :A

Sx

Jo_R_2

Oh wow big decision. Having read your latest posts I did think you would in the end veer away from bankruptcy (sp?)

So when you say you got to sort out OH's, am I right in thinking he's going for the DMP definitely also but separately - is that it?

FWIW I think doing it separately is the right decision x

hypno06

I am glad you have reached a decision - at the end of the day, if in a few months time the DMP doesn't seem to be working for you in a productive way, you can always say "we tried, but....." and then go for the BR option if need be as a last resort.

So, a huge step forward for you. I wish you all the luck with it. I've never had to do a DMP so prob can't offer much in the way of specific support, but you know where we are for those things that we CAN help with (like virtual jaffa cakes which are obviously my speciality )

x

SarahNeedle1872

Jo_R wrote: »

Oh wow big decision. Having read your latest posts I did think you would in the end veer away from bankruptcy (sp?)

So when you say you got to sort out OH's, am I right in thinking he's going for the DMP definitely also but separately - is that it?

FWIW I think doing it separately is the right decision x

Yes Jo, I am keeping OHs and mine seperate... he has nearly £300 surplus after all his costs, so CCCS recommend a payment plan with each of his creditors. I am pleased about this because it means he actually needs to make contact with them, either by letter or on the phone

Sx

SarahNeedle1872

I did want to avoid bankruptcy where possible, but as Hypno said, its always there as an option if the DMP doesn't work out...

Feeling a lot better about things now

Sx

Eager_Elephant

SarahNeedle1872 wrote: »

After tossing and turning all night, and doing some sums this morning, I have decided to go for the DMP.... I thought it was for 12 yrs but when I checked my figures, it was actually for 18 1/2:eek: But I can't fuffed with selling my car etc, and I want to pay back all the money I owe...

So today I hit the 'proceed' button on my Debt Remedy, and the ball is now rolling

Just gotta sort out OH's now....

Thanks for all your input guys :A

Sx

Hi Sarah

Glad you have made a decision.

I wonder if we should support each other, although I am not in a DMP I am definitely in for the long haul. If I only pay the minimum on my debts my Barclaycard will take 143 years to clear :eek:

I am trying to make extra payments but it is not much, maybe £50 per month.

We will get there in the end!!

EE

SarahNeedle1872

Eager_Elephant wrote: »

Hi Sarah

Glad you have made a decision.

I wonder if we should support each other, although I am not in a DMP I am definitely in for the long haul. If I only pay the minimum on my debts my Barclaycard will take 143 years to clear :eek:

I am trying to make extra payments but it is not much, maybe £50 per month.

We will get there in the end!!

EE

That would be great E_E!


So today I have printed out all the latest statements, found my last payslip and filled inall the DMP paperwork. Just got to get an envelope from work big enough to take all the paper!!
My surplus is £99 and my debts are £22k, so its gonna be a loooooooooooonnnnnnnnngggggggg time to clear, but I am determined to make this work!!

OH still hasn't spoken to/written to his creditors, so I will take a look into what needs doing for that, and if need be, do it myself!!

Nowt else to tell really

Sx

Eager_Elephant

SarahNeedle1872 wrote: »

That would be great E_E!


So today I have printed out all the latest statements, found my last payslip and filled inall the DMP paperwork. Just got to get an envelope from work big enough to take all the paper!!
My surplus is £99 and my debts are £22k, so its gonna be a loooooooooooonnnnnnnnngggggggg time to clear, but I am determined to make this work!!

OH still hasn't spoken to/written to his creditors, so I will take a look into what needs doing for that, and if need be, do it myself!!

Nowt else to tell really

Sx

Well Sarah, you seem like you are making progress.

Does DH need guidance then or is he not that bothered - if you didn't do it would he eventually do it or would it get left so there are charges etc?

On my diary I have talked before about DH. We have seperated our finances and he is dealing with his own debts/finances as it was causing unbelievable arguments.

The only problem with this is that he earns double what I do but I have to put the same amount in for housekeeping each month :mad:
I thought it would have been better pro rata but he disagrees so to prevent arguments I have left it this way. If he had to pay more to the household he wouldn't be able to afford his minimum payments :eek:

Oh nearly forgot to say I am also trying to lose weight so if you want to as well (no offence intended I'm not even sure if you have any to lose!!), come and join in - we are on the PAD thread (but don't tell anyone!!)

EE

SarahNeedle1872

Sadly OH needs both guidance and isn't bothered! Either way I will end up doing the letters myself, but he will have to speak to his people as they obviously won't speak to me!

I caught up on your diary yesterday E_E, your OH sounds quite similar to mine in some ways! Mine is a compusive liar, he does it because he doesn't like to deal with things at the time (ostrich totally!) but, like your OH, can't seem to get his head round the fact that if he just told the truth in the first place, there would be soooooo much less hassle, and I would help him with things! He also suffers sporadically from depression (something I can't get my logical brain around!), and went through a bad patch through Nov/Dec which resulted in him losing his job, which started the demise of our financial situation (until then, all minimums were being paid, and I was making headway through PADing). I kept it going as long as I could, but as he earned approx £500 a month more than me, I couldn't go on for long. He also got three pay day loans whilst out of work, which he lied about, saying he hadn't, but the fact that he changed his bank details for the first time in 4 years so I couldn't access it told me all I needed to know!

So here we are, me entering into an 18 year DMP and him with £300+ 'spare' every month. I will take half the bills money, and he can sort his stuff out himself! - which reminds me, I need to get my head round the budgets again

I will be trying to mae a more regular appearance on PAD, so may well join in the weight loss - I have plenty of baby weight still to lose, and DS is 3 1/2:rotfl:

Sx