advice plz

getfree

Bankruptcy is my only option, have opened a co op basic account, waiting for paperwork to come through, that was the easy bit, now really worried and advice needed, i wouldn't be in this mess, if it wasn;t for online gambling sites, (there i said it). also sold my caravan back in november, this was to meet minimum payments, but chose not to pay. (still got money from sale, how good am i), i am now saving up to pay for bankruptcy, then to hand over money from sale, is this the right thing to do, been a lurker since january, oh yes, income is benefits and dla. Thanks for taking time to read.

debtinfo

Well you are alowed to use the money if you have necessary reasonable expenditure, but other than that you should hand it over to the OR

getfree

what will happen to me, because the reason for bankruptcy is gambling, i'm so worried, although have now stopped all gambling for the last month, may not be long to you, but i am taking it each day as it comes, and i feel i am doing well, now looking to get life back in order, but what do i have to expect from or, will i get in trouble.

confused76

if you were to used some of the sale money for your bankruptcy fees i don't think the OR would have a problem with this either

getfree

reading other threads, i got a loan with my bank, thats comes out by dd, but am only making token payments to cc, this isn't good in the eyes of the or is it.

HateBanks

Have you sought help from one of the debt advice charities? National debtline, CCCS, Citizens Advice and so on?
You can use some of the money you have for BR/court fees, and living expenses, the OR will want any that is left. Most people, from what I can gather, stop making payments to their creditors as soon as the decision to go BR is made, usually to save up for the fees, but also because they simply cant make them any more, thats kind of the point... insolvent means you do not have the money to meet all of you financial commitments as well as your basic living expenses.
There is lots of great advice on here, do read as much as you can to make sure BR is you best option.

getfree

I have spoken to cccs and payplan, i was thinking of entering in to an iva, but have read some pretty grim stories on here of them failing and ending br anyway, the forum has made me open my eyes to my problems, and for me to share them, i feel better already, still worried how the or will look at my gambling, but even tho haven't in the last month, i've still not got enough money to pay minimum on cc, so still paying token payments.

out_of_cash

hi getfree,

are your debts visa car debt above 20k say,

i went br 2yrs back and had never gambled b 4 but tried foolishly to dig myself out of debt by playing virtual roulette i was honest with the OR and they didnt seem to give a hoot.maybe i was lucky in one way.

Flyright

The OR will want to know about your gambling. Are any of your debts down to gambling (such as obtaining credit to gamble)..? Depending on the amounts etc then you may well be looking at a BRO.

ton1

getfree wrote: »

I have spoken to cccs and payplan, i was thinking of entering in to an iva, but have read some pretty grim stories on here of them failing and ending br anyway, the forum has made me open my eyes to my problems, and for me to share them, i feel better already, still worried how the or will look at my gambling, but even tho haven't in the last month, i've still not got enough money to pay minimum on cc, so still paying token payments.

Hi getfree, Gambling unfortunately also played a large part in my debt but I was not penalised in any way & am now discharged. I had stopped for a period of seven months or so when I went BR & thankfully have not gone back to it. You are asked about the amount you have lost to gambling in the past two years, when you fill in the forms & the OR later wrote to me asking for my membership no. with the various bookies. All my gambling was done over the phone with a debit card.
Good luck!