What shall I do????

NewbieMoneySaver**

I have been seperated from my wife now for a year and am currently going through the divorce. I have been lucky enough to own all the debt from our marriage and have had a debt plan set up since october.

My question is this. If I go bankrupt, how will it effect me? I have read all these posts but am really worried. How long is it before I get out of bankruptcy? Can I still rent a house?

What do they do about my pension because i'm in the forces.

Obviously i'm paying towards the debt now but it's going to take forever to clear it. I have three kids and I want them to have a good life.

When my divorce settlement is sorted there is no equity but the debt in my name. Will the courts take this into consideration when making any decisions? I'm currently paying the max amount of csa to her but she wont even let me see the kids or even talk to them.

Sounds like i'm going on but I have bottled all this up for so long now and just can't take this debt anymore.

Hope someone can advise me on this

IF

Hi NMS and welcome, First thing make a list of all your creditors, debts and assets.
Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial.
They will go through all your options with you and if they suggest bankruptcy then come back to this board and we will help you all we can. Also if your not ‘clicking’ with one of the Debt charities do try another.

Please don’t do anything rash take your time and weigh up your options and read everything you can x

Please click on Blue links below.

For ‘essential’ info this is Fermi’s sticky at top of the forum:-

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

These are the most used Debt charities:-

http://www.citizensadvice.org.uk/index/getadvice.htm

http://www.nationaldebtline.co.uk/

http://www.cccs.co.uk/

More Debt charities also on Fermi’s link:-

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

And do remember we’ve all been through this and anything you don’t understand don’t be afraid to ask.

Best wishes
If...x