newbie in desperate need of help!

OneHubbyOneSon4Debts

Hi all, I am desperate for a bit of advice about going bankrupt.

I have 2 credit cards and 2 loans (unsecured) totalling to just under 20k. The debts are in my name only, will that affect my hubby's credit?

We have seperate bank accounts, the gas, water, phone etc are paid by direct debit from my account, would it be worth swopping them over to hubby's bank, cos I've heard that once you go bankrupt they freeze your account.

We don't own our home we rent and have no car, we are on benefits including incapacity benefit and income support, they are paid into a post office account in my name, would this be frozen?

I had to 'top-up' on a loan I had out of desperation about 6 months ago, robbing Peter to pay Paul, would this affect a bankrupcy application.

I wasn't all together truthful when I took out the loans, saying I was working when I wasn't, I'm now absolutely petrified, but desperate times called for desperate measures...will this affect me? Ohh what a fool I've been!

So far I haven't actually missed any of my payments, only pay the minimum each month on my credit cards, but can't even afford that, I get money out of one credit card to pay the other card bill and vice versa sheer madness, its just all spiralling out of control!

How long does it take once you apply for a bankrupcy?

Sorry to bombared you with all these questions but really don't know where to turn, so thanks for any help/answers you might have for me.

indebtinsussex

Hi didn't want to read and run, but we have all been there and everyone on this board will help you. I'm not the best person to give advice but someone will come along and point you in the right direction x

lilibet1

Hi there

Im the same as above, someone with lots of help will be along soon, stick around.x

IF

Hi OSOH4D and Welcome, I know you have so many questions and it does feel like your head is nearly exploding right now! How long it takes to become BR depends on saving for the fees or waiting for a court appointment but 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

OneHubbyOneSon4Debts

Thank you so much for your reply, and for the links, feel like I am finally getting somewhere! Will check them out and then call one of the debt charities.

Will let you know how I get on, once again thank you xxxxxx

IF

OneHubbyOneSon4Debts wrote: »

Thank you so much for your reply, and for the links, feel like I am finally getting somewhere! Will check them out and then call one of the debt charities.

Will let you know how I get on, once again thank you xxxxxx

Your welcome and anytime you want a chat come back on your thread or pop into the Inn too lol x

wok_boy

ifwisheswerehorses... wrote: »

Your welcome and anytime you want a chat come back on your thread or pop into the Inn too lol x

Just watch out for the nutters that lurk within the Inn

curly04

wok_boy wrote: »

Just watch out for the nutters that lurk within the Inn

Yeah like that Wok Boy - scary person :D:D

IF

wok_boy wrote: »

Just watch out for the nutters that lurk within the Inn

Cheeky monkey!!;):rotfl:

OneHubbyOneSon4Debts

Hi, back again! so sorry to be a nusiance, but for one reason or another I can't phone the debt heplines till Monday.

I was wondering if anyone could give me a general answer to some of my questions, just as a guideline maybe.

Thanks

wok_boy

OneHubbyOneSon4Debts wrote: »

Hi, back again! so sorry to be a nusiance, but for one reason or another I can't phone the debt heplines till Monday.

I was wondering if anyone could give me a general answer to some of my questions, just as a guideline maybe.

Thanks

You could ask your questions in this thread:

https://forums.moneysavingexpert.com/discussion/1639589

They are answered by CCCS employees