The Bankruptcy Club & Supporters Club

GhostHunter_3

Hi

Please can I (we) join the club?

My husbands business has been struggling since it started 5 years ago and we have gone into debt and been threatened by the bank to pull the plug more times than I can remeber. Trouble is the bank is making so much money out of the business failing it wont actually do as it threatens!

My husband, although obviously aware of the struggle as we live hand to mouth day to day to try to make ends meet isnt exactly ignoring the fact we need serious help and guidance, but I think he is scared of what comes next. Plus emotionally upset, drained and mentally weary, frightened and weak.

I have contacted business debt agencies and got an advice pack but as the business is a 'partnership' with him and I the 'partners' I cant go ahead and get the help or go bankrupt without his permission.

The bank said I cant take my name off the business bank account until the overdraft is cleared which is unlikely to happen unless we win the lottery!

Can anyone offer advice, I need to make my husband understand its for the best and hes making the right decision, many others are going through the same thing etc etcwill help us now if we go bankrupt and although his feelings are hurt and hes acting like an ostrich deep down he knows its best but I need to coax him into agreeing without making him think im forcing the issue as this will cause arguments and divorse.



Great thread I know I am not alone now!


Thanks

monkeyy

Pobby wrote:

Monkeyy,bet you feel so much better!

Sure do like a giant weight off my shoulders, had a last minute panic when I came up £100 short of the fee but luckily my ex ex gf (a fair chunk of my debt was hers) stumped up.
Not denying I have not been stupid with my money in the past but I feel if it were not for halifax ringing me at all hours hounding me day and night I would have got over my depression a lot quicker,been back in work and it would never have come to this.



Biggest + is I am now 10 times wiser about my finances and im never going down this route again. From now on if I cant buy it with my savings I dont buy it.

bonbonlaRue

2 years tomorrow since my BR and I can promise you all that I'm still breathing, my children still love me and I haven't grown another head.

Of all the things in life to lose sleep over....this is NOT at the top of the list. If nothing else,it puts things into perspective and gives a true value to all those possessions we thought we could not live without.

BTW.. Nationwide Building Society will give a basic Flex account to us poor afflicted people....:rotfl:

Good luck.....tell 'em bonbon sent you....:D

monkeyy

GhostHunter wrote:

Hi

Please can I (we) join the club?

My husbands business has been struggling since it started 5 years ago and we have gone into debt and been threatened by the bank to pull the plug more times than I can remeber. Trouble is the bank is making so much money out of the business failing it wont actually do as it threatens!

My husband, although obviously aware of the struggle as we live hand to mouth day to day to try to make ends meet isnt exactly ignoring the fact we need serious help and guidance, but I think he is scared of what comes next. Plus emotionally upset, drained and mentally weary, frightened and weak.

I have contacted business debt agencies and got an advice pack but as the business is a 'partnership' with him and I the 'partners' I cant go ahead and get the help or go bankrupt without his permission.

The bank said I cant take my name off the business bank account until the overdraft is cleared which is unlikely to happen unless we win the lottery!

Can anyone offer advice, I need to make my husband understand its for the best and hes making the right decision, many others are going through the same thing etc etcwill help us now if we go bankrupt and although his feelings are hurt and hes acting like an ostrich deep down he knows its best but I need to coax him into agreeing without making him think im forcing the issue as this will cause arguments and divorse.








Great thread I know I am not alone now!


Thanks

Welcome, I think most people are here because they have buried their heads in the sand and ignore whats going on for too long. It looks like its going to be upto you to try and get him to see how big the problem really is not to mention the strain it must be putting on your relationship.
Im sure once he takes his head out of the sand and realise the full state of your financal problems he will come around to your way of thinking.


good luck, hope it works out for the best

Doushka

officially declared bankrupt at 2.15 this afternoon

the judge was lovely, said he hoped it gave me the opportunity to concentrate on my health now!

just like monkeyy said, thanks guys to everyone here for their support and advice, it would have been so much worse going it alone

I can finally move on now without that big weight strangling and suffocating

what made my experience even easier today was..... firstly I was having a lazy morning watching a typically naff sky movie when a friend who we've not seen in months popped round to deliver an invitation to his wife's surprise birthday party, he stopped for a coffee and we caught up. (Then the bad bit cos I then had to rush to shower and dress and make sure I remembered the money and form etcetc. ) Got there fine and the security guard was lovely, I was obviously looking nervous, so whilst waiting to be called in he chatted and joked with me - beyond the call of duty, but soooooo appreciated, and I told him so on my way out afterwards

thanks again guys

Doushka

gettingitsorted

Hey Doushka

glad you got through it all ok

sandralovescats

Well Done Doushka!!

Mike_St_Helens

Doushka wrote:

officially declared bankrupt at 2.15 this afternoon

the judge was lovely, said he hoped it gave me the opportunity to concentrate on my health now!

just like monkeyy said, thanks guys to everyone here for their support and advice, it would have been so much worse going it alone

I can finally move on now without that big weight strangling and suffocating

what made my experience even easier today was..... firstly I was having a lazy morning watching a typically naff sky movie when a friend who we've not seen in months popped round to deliver an invitation to his wife's surprise birthday party, he stopped for a coffee and we caught up. (Then the bad bit cos I then had to rush to shower and dress and make sure I remembered the money and form etcetc. ) Got there fine and the security guard was lovely, I was obviously looking nervous, so whilst waiting to be called in he chatted and joked with me - beyond the call of duty, but soooooo appreciated, and I told him so on my way out afterwards

thanks again guys

Doushka

Well done !!!! Welcome to the rest o your new life !

Whoops_Apololypse

Hi

We would very much like advice on how to deal with the MBNA/RMA hound dogs but first can we give you some background to our situation? My husband and I are really relieved to find this website and after reading this thread over a couple of days have now decided to pluck up the courage to deal with our situation. So this is the first time we've done this and it hasn't started well - we missed spelt 'Apocalypse' which kind of shows you were we're at right now!

We've been sinking further into debt over the last year - robbing Peter to pay Paul etc and now we can't pay our credit card minimal payments. Before we cancelled our cc dd's we took advice over the phone from Debt Free direct who advised us to go bankrupt. It's slowly sinking in that this is our only option. Does anyone recommend that we go to the CAB or seek other advice from elsewhere or can we do this ourselves?

Anyway - we're desparately trying to make it through to the New Year before we put all our efforts into going Bankrupt. We've missed 2 or 3 payments on each of our credit cards (7 cards in total). At this stage all cc providers except MBNA are just sending polite reminder letters or trying to ring (which we are not answering). After the first missed payment MBNA instructed RMA to recover the missed payment. We have successfully dodged RMA's calls todate. However, yesterday we received a post card from RMA saying that a collector will be visiting our home on Friday (we have now missed 2 payments). I rang RMA and expressed my displeasure at their bully tactics and they said that 2 previous letters had been sent to us - neither of which we have received? From what I've read on this thread this seems very premature of RMA or is this normal? What rights do we have if RMA do come knocking on our door? Any help and advice would be very much appreciated.

This is the start of our journey and look forward to sharing it with you.

Thanks

Worried Whoops Apocalypse

Mike_St_Helens

Whoops_Apololypse wrote:

Hi

We would very much like advice on how to deal with the MBNA/RMA hound dogs but first can we give you some background to our situation? My husband and I are really relieved to find this website and after reading this thread over a couple of days have now decided to pluck up the courage to deal with our situation. So this is the first time we've done this and it hasn't started well - we missed spelt 'Apocalypse' which kind of shows you were we're at right now!

We've been sinking further into debt over the last year - robbing Peter to pay Paul etc and now we can't pay our credit card minimal payments. Before we cancelled our cc dd's we took advice over the phone from Debt Free direct who advised us to go bankrupt. It's slowly sinking in that this is our only option. Does anyone recommend that we go to the CAB or seek other advice from elsewhere or can we do this ourselves?

Anyway - we're desparately trying to make it through to the New Year before we put all our efforts into going Bankrupt. We've missed 2 or 3 payments on each of our credit cards (7 cards in total). At this stage all cc providers except MBNA are just sending polite reminder letters or trying to ring (which we are not answering). After the first missed payment MBNA instructed RMA to recover the missed payment. We have successfully dodged RMA's calls todate. However, yesterday we received a post card from RMA saying that a collector will be visiting our home on Friday (we have now missed 2 payments). I rang RMA and expressed my displeasure at their bully tactics and they said that 2 previous letters had been sent to us - neither of which we have received? From what I've read on this thread this seems very premature of RMA or is this normal? What rights do we have if RMA do come knocking on our door? Any help and advice would be very much appreciated.

This is the start of our journey and look forward to sharing it with you.

Thanks

Worried Whoops Apocalypse

Hi & Welcome ! :grouphug:

Ok, You have faced the issue 1st of all and confronted it. You spoke with DFD.. which isnt the wisest thing, but you have dob=ne it and saught professional advice. ( I wouldnt bother with CAB...)

Cool... I and most of us on this thread have been to hell and back, enough tears to fill a lake. I think you know what you want to do, purley by the fact that you have posted on this thread. It sounds like its for the best. Listen, 1st of all DONT worry about the payments to your CC's, I was well over 15 months in not making any payments at all.. poss think of changing your phone number.

Bankruptcy isnt that bad, True it is for people who need it, but its quite a different experience and the feeling that you get once its over is out of this world.

WE are al here for you and I can guarentee that one of us will have experienced what you are gouing through....

Mike x