defeated - the only option

crumbling

HappyMJ wrote: »

Yes, A dmp at that rate would take 38 years to clear. A bankruptcy would be off your credit record in 6 years.

i know i shouldn't laugh (it was a rather embarrassed guffaw:o) - but thanks for putting that in writing for me! i needed to see it to believe it if you know what i mean?

have printed bankruptcy forms off and phoned court - some days they see you immediately but some days they turn you away. think i'll try make a definite appointment for as soon as i've sorted the forms.

now i'm going to write to barclaycard with a token payment as both of those bills are due early next week. best cancel the dd set up for one of them asap (am i doing things right? trying to make sense of it all right now....)

HappyMJ

Close. No need to send any payment. It's a waste of money. The only way technically to save the money for the BR fees is not making a few months payments so just leave it.

RAS

Do you have any credit left on the credit cards?

crumbling

RAS wrote: »

Do you have any credit left on the credit cards?

yes i do (one of them was increased recently too as until my accident i had a perfect credit record).

if i just don't pay or write tho, what will happen in the interim period before br?

crumbling

HappyMJ wrote: »

Close. No need to send any payment. It's a waste of money. The only way technically to save the money for the BR fees is not making a few months payments so just leave it.

i got some spare overdraft.........:o

RAS

OK

If you want to go BR, it is generally considered OK to put the fees on a credit card. Do check over on the br forum but this was true a few months ago.

HappyMJ

crumbling wrote: »

i got some spare overdraft.........:o

Yep that's fine just withdraw the money well in advance. If you don't pay the CC's they'll send letters....scary letters...;) If you dont want them you could use the credit available on your CC to make the payments to the other cards.

Broken_hearted

HappyMJ wrote: »

Yes, A dmp at that rate would take 38 years to clear. A bankruptcy would be off your credit record in 6 years.

At first it may look like it will take a long time. In reality £15k took me 4 years. My credit rating is back to normal and never having to admit going BR or having it sat there permanently is great. We were in a worse situation than the OP as we had a mortgage to pay on top of the debts.

crumbling

Broken_hearted wrote: »

At first it may look like it will take a long time. In reality £15k took me 4 years. My credit rating is back to normal and never having to admit going BR or having it sat there permanently is great. We were in a worse situation than the OP as we had a mortgage to pay on top of the debts.

out of curiosity, were you able to work? i really thought that by now i would be working again but it wasn't meant to be, hence the drastic drop in income.

crumbling

HappyMJ wrote: »

Yep that's fine just withdraw the money well in advance. If you don't pay the CC's they'll send letters....scary letters...;) If you dont want them you could use the credit available on your CC to make the payments to the other cards.

how scary:eek: i've never missed paying anything (apart from one barclaycard bill in 2005 but they let me off the late payment as i was actually having brain surgery when it was due.....).