How to avoid Bankruptcy???

Jenna3

PLEASE HELP !!!

Hello I am in a bit of a dilemma, I am in debt for £22,000 I have tried the debt management plan which i was paying £250 a month but wasn't getting anywhere with that as the credited was still charging me interests so what I was paying off was not even clearing the interested charges. I did ask for then to freeze the interested but wouldn't. I then started IVA which I was playing £270 to start with put was struggling to live on what I had left so asked to drop the payments down to £170.00. I then fell pregnant I contacted pay plan which was dealing with my IVA and informed them and to ask for there advice on what to do once I go on maternity pay I would only be getting £124.00 a week and no way would I be able to live on £326 a month plus buy stuff for
the baby so I asked if they could drop the payments down to £100.00 a month which they said they couldn't do. So I asked what should I do then cause they
wasn't prepared to take a lower payment, I asked should I stop all payments
altogether and look into bankruptcy, which they agreed I should do that. So I
looked into it but they cost too much and I havnt got that sort of money I
even went to citizen advise and they could help me. Then I was hit with a
£700.00 after my baby was born for working tax credit which wasn't my fault it was there's as they read the paperwork wrong and I don't know where I stand with that.

I just don't know what to do anymore as my maternity pay has now stopped so I have no income coming in apart from child benefits and child tax credit which is £58.00 in total a week.

I have also written to all my crediters asking them to write off my debt or if I could pay £1.00 a month as a contributions which I would be paying off for the rest of my life. But some of the creditors havnt even got back to me so I don't know what that means.

I know its my fault getting myself in this situation and I have tried so much to clear it but I can't do nothing now with no income I just feel down about the who thing and I don't want to be in debt anymore. I have tried everything I have had companies saying they can help me but then hit me with a massive fee to do so wch I havnt got. I work in Kent and had problems with my car which I couldn't afford to get fixed so had to get rid of my car so have no way to get to work after my maternity is finished with. So I am in a BIG dilemma and feel helpless.

Please help anyone

mandyl

sorry i dont have any advice, but big hugs xx

silvercar

I just don't know what to do anymore as my maternity pay has now stopped so I have no income coming in apart from child benefits and child tax credit which is £58.00 in total a week.

Can't you claim income support?

Jenna3

silvercar wrote: »

Can't you claim income support?

I dont really know what you can claim i have never done this i have worked since the day i could really, i hate being in this situation and not having my own money coming in but I will look into that. Thank you

Angiepange

Hi Jenna and welcome to the forum.

You said in your post you went to the CAB, did you get help from them? I may have read the wording wrongly? If they havent you can try the other free debt charities that are always recommended on here, the CCCS and National Debtline, links below. Both very good and you can ring up today and get advice.

Main recommended sources of help:

• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

Also have a look at this link and put your income details into the calculator, it could you give you some ideas of what you may be entitled to
http://www.turn2us.org.uk/benefits_search.aspx

Hun, you will get this sorted out, its just going to take a little time speaking to the correct advice agencies, there is no need to pay for advice.

Good luck x

Jenna3

Angiepange wrote: »

Hi Jenna and welcome to the forum.

You said in your post you went to the CAB, did you get help from them? I may have read the wording wrongly? If they havent you can try the other free debt charities that are always recommended on here, the CCCS and National Debtline, links below. Both very good and you can ring up today and get advice.

Hi thanks for your advice I went to the ccb and they said they couldn't helpnme at all and I called the national debtline and they were the ones that passed my details to pay plan and I set up the deft management and IVA with them plus they took fees outbox what I was paying for themselves so I did getvto pay back as much.

I just feel like I am going around in circles cause the companies alway pass me to someone else that wants a fee or takes money out of what you pay.

I don't what to be in debt no more and I don't want to bring my child up around it. :-(

I will look into the other links too but I don't think they could help.

Jenna3

I am sorry if I should negative butbi have been trying to sort this out for about 3 years and still havnt got any where.

This is all because my ex couldnt get credit so I put it all in my name and then when we split he decided that it was my problem. I know it's not all his fault it's mine too for being so stupid.

How I have got my own family and got a bit of my past over me too. :-(

NeverAgain_2

Jenna,

You have debts of £22,000 and no prospect of any significant income in the near future.

You are sick of being in a mess, and want to get out of debt.

Bankruptcy sounds like a good option.

Raising the fees is not easy, but were I in your position, that is what I would concentrate on.

Jenna3

It looks like this is the only way out but it's gonna take some time to get the money. Where do you start? I read up that it will cost about £400-£500 pounds to do, is this correct?

Thank you for your advise

silvercar

You need to sort your income. I suspect you will be entitled to some income support. Check here:

http://www.turn2us.org.uk/benefits_search.aspx

Are you getting any financial support from the baby's father?

Once you know what your income will be now and when (/if) you return to work, you can plan going forward.

Angiepange

Jenna it costs £700 to go BR now, but there is a concession if you are on certain benefits, can't remember how much though?

Have a look at this info from the North East Derbyshire CAB, in case you are eligible for assistance with any of the charities etc:

Possible assistance with Bankruptcy costs / fees

For those who have taken proper advice and decided on bankruptcy as the long term option for dealing with their debts, it is often difficult to raise the necessary fees. It is our experience that any delays in raising the fees for bankruptcy can often prolong the stress and suffering for those with overwhelming debts.


For anyone in this position, there are a number of charities and organisations that may help with Bankruptcy costs and fees depending on eligibility. Examples below.

• Severn Trent Trust Fund and other water trusts
• EDF Energy Trust
• Royal British Legion
• Some Trade Unions
  • Trades Union Congress
  • Union Finder from Worksmart
• Turn2Us enables you to search for charities

Please note you will usually need the assistance of a recognised Debt and Money Advice Worker in completing applications relating to the above.

Also, please be aware that any applications to the above may take a number of weeks and are not guaranteed to be sucessful, however we know of many successful applications so it may be worth a try.

Wishing you luck, NEDCAB.

I am sorry you don't seem to have had much help sorting things out so far!