First steps make me feel sick.

paulcornwall

ok, thanks for the ideas, support worker asked us if we were ok for christmas food as theres a food bank near us, i regrettably declined saying we were ok (we do have food in the cupboards), was wondering if we had a shop from them we could save enough for presents, does this seem wrong!!

Ineedaname

How old are your children? Are they youngsters who will grow out of or discard or even break presents before next year? If so, where's the value in being so desperate to buy them as much as possible?

Growing up, I knew my parents didn't have much money, it never stopped me having a good Christmas every year. We made our own decorations, helped with the cooking and chose very carefully with what money we did have. OK, every year my Christmas present list started with "A Pony", but we all have dreams. It wasn't just about the presents but far more about spending time with the family, playing games, watching some good films together and just enjoying some time out from life.

If your kids learn the value of money now it will stand them in good stead for the future. If they're old enough to write, try getting them to make a present list of just 10 items they would like and explain you will choose from that list if you can afford it. Get them to be realistic about prices, give them a budget for their presents even, but let them choose. They might surprise you with their choices once you set the rules...

Use this as a start to your new life of living within budget, start to question whether you truly need your intended purchases. Same for the kids, if they realise how hard come by all their possessions are they'll likely look after everything better.

tigerfeet2006

Also please get over to the Oldstyle Moneysaving board for help with your food budget etc. They are a fantastic bunch over there.

paulcornwall

Had letters today for informing us of full and final settlements of 2 accounts, do i forward these to CAB. Had a phone call from a debt collection agency on behalf of lloyds, I told them the situation and they said they would need a case number from cab which i don't have. Will have to contact CAB tomorrow to found out. Partner has appointment with CAB in a few weeks, looks like DRO for her. During these hard times I'm going to swallow my pride and accept any help I can get.

rufess1

Hi, I went bankrupt nearly 12 months ago now, believe me I know what you are going through, I felt sick, couldnt sleep, generally made myself ill just at the thought of going bankrupt. I was dreading doing it. I was £75,000 in debt, same sort of circumstances as yourself got loans out to pay off other loans and it got way out of controll. How you are feeling now will go as soon as you have had your interview with your official reciever (its not that bad either), I was expecting a grilling about my debts but didnt get one, well it wasnt half as bad as I had imagined it was gonna be. I was given some good advice before hand for the interview with the official reciver off my insolvancy practitioner, he said to only answer the questions they ask and dont go into too much detail, dont tell them things they havent asked you!! My interview was done over the telephone. They ask you questions like what have you spent the money on, you dont have to give them a breakdown on exactly what you have bought or spent, I just said things like "to help me live" and "household stuff", they will also probably ask you how you got into the situation, so you will have to explain how you got into debt, so you could say you had a business that failed etc. But dont go into too much detail unless they ask you dont tell them!!!
You do get a reduction on the fee if you are claiming benefits im sure it was £350.00 not £500.00 but im not 100% sure.
As soon as I put that phone down my life changed for the better, It was like a weight had been lifted and I havent looked back since. I dont ever want another credit card, loan or any form of credit again.
In another 6 months you will look back and wonder why you didnt do it ages ago, I know I did!! My banrupcy was for 1 year but I cant inherit / have any money of any significance for a further 2 years. My 12 months is up in a few weeks.

rufess1

paulcornwall wrote: »

Cards have been stopped now due to defaults so there out the question. Kids have little present apart from those from the poundshop etc, my catalogue is still running with a considerable amount remaining its tempting seeming its christmas. Also do benefits still send cheques out instead of paying into Bank accounts? (which are starting to swallow my money).

Yes you can still get a cheque sent out to you. Stop using your bank account asap if its draining your money, open another one up with a different bank, you will probably have to do this eventually anyway, I went with Thinkbanking, they charge for the account but personally i think its worth every penny, they accept bankrupcy and they will even manage your money for you. You dont get charged anything ever for a bounced direct debit, so it never drains your money. When your money goes into your saleries account, they keep enough money to pay your direct debits and put whatever is left onto your debit card account, so your bills always get paid and whatever money is on your debit card is yours to spend and it wont let you overdraw.
Its helped me get control of my finances again. They charge a monthly fee but atleast ya never get any charges unlike other banks.
Hope ive helped

tigerfeet2006

Rufess, I am afraid you Are way out of date with the fee now. It is £525 for the OR fee and £700 with court and OR fee.

The OP has already opened a Co-op account so won't need to have apay monthly account. Both Co-op and Barclays offer a free basic bank account to BR's.

paulcornwall

Another letter arrived today from Moorcroft, apparently i owe virgin £59 from last year, do i have to pay this, what do i do? Many thanks for you replies so far, your all being a great help.

kepar

rufess1 wrote: »

Hi, I went bankrupt nearly 12 months ago now, believe me I know what you are going through, I felt sick, couldnt sleep, generally made myself ill just at the thought of going bankrupt. I was dreading doing it. I was £75,000 in debt, same sort of circumstances as yourself got loans out to pay off other loans and it got way out of controll. How you are feeling now will go as soon as you have had your interview with your official reciever (its not that bad either), I was expecting a grilling about my debts but didnt get one, well it wasnt half as bad as I had imagined it was gonna be. I was given some good advice before hand for the interview with the official reciver off my insolvancy practitioner, he said to only answer the questions they ask and dont go into too much detail, dont tell them things they havent asked you!! My interview was done over the telephone. They ask you questions like what have you spent the money on, you dont have to give them a breakdown on exactly what you have bought or spent, I just said things like "to help me live" and "household stuff", they will also probably ask you how you got into the situation, so you will have to explain how you got into debt, so you could say you had a business that failed etc. But dont go into too much detail unless they ask you dont tell them!!!
You do get a reduction on the fee if you are claiming benefits im sure it was £350.00 not £500.00 but im not 100% sure.
As soon as I put that phone down my life changed for the better, It was like a weight had been lifted and I havent looked back since. I dont ever want another credit card, loan or any form of credit again.
In another 6 months you will look back and wonder why you didnt do it ages ago, I know I did!! My banrupcy was for 1 year but I cant inherit / have any money of any significance for a further 2 years. My 12 months is up in a few weeks.

Can you please tell me where that information came from.

kepar

t was like a weight had been lifted and I havent looked back since. I dont ever want another credit card, loan or any form of credit again.

I will give you six months after discharge and you will be cleaning your credit files, Why? because you will want the ability to have credit.

Most posters on here claim that they will never take credit on again, but then go on to say that they want a mortgage in the future.

Be honest after bankruptcy most of us want to be seen as normal, and in turn that means using credit, it doesn't have to be a credit card there are other forms but most want it. It is not wrong and not illegal so why deny yourself.