Dont know what to do

fracturedsun

You definitely need to sort out that 2nd phone, and probably ditch the gym and bank account payments as soon as possible and get yourself on job seekers.

Hope you find a job soon, I know it can be disheartening not to get anything back when you've sent out loads of applications already, but whatever you do don't stop sending them. It may not be ideal but remember even some part time work can work out better than job seekers so don't rule anything out (in the short term) just because it's not what you'd hoped for.

Good luck with the studying and with the job hunt I hope you find something that fits soon.

BlushingRose

I'd agree about getting the 2nd phone stopped asap.

Vikipollard

Best I can suggest is to contact the mobile phone company and get the 'lost' phone's SIM card blocked. It wont get you out of the contract, but it will stop them using it and racking up calls .

As the phone contract is in your name, s/he wont be able to ring to ask for it to be reset or a new card.

Nottoobadyet

Surprised no one has mentioned this already - if you see your future career in accounting and finance, bankruptcy could become a giant millstone someday as you'd be unable to serve in many senior finance roles. Even at lower levels it may effect your employability.

Not to discourage you from getting qualified - having a vocation such as accounting will be fantastically useful for you, even if that doesn't become your main job (it would be an asset for, say, a project manager too). I'd be sure that you mention your interest in pursuing this career to whoever you get advice from.

Best of luck - it sounds like you are discovering a great drive to get your life back together, and that's the most important thing.

Standingtall

You should register with agencies such as Hayes Accountancy Personnel. The company I work for you used to use them (before creating their own agency!). They are well established and provide staff at all levels so you could get a minimum wage contract even but this could provide a foot in the door for permanent work.

bt1

Hi closetodeath,

Thought I'd post as I was in the exact as you when I left uni. Unemployed, started studying ACCA, and a whole load of debt to pay!

I would definitely get JSA.

Also have a look on Reed the accounting and admin sections). They have so many different agencies posting jobs on there! When I was look I used to apply for 100s a day! Even if you think u can't do it at least it gets ur details with the agencies. I got ALOT of rejections! But eventually I got an admin job in London and worked my way into their finance dept!

Good luck!

closetodeath

Thank you very much for the information and friendly support. I feel better thanks to you lot.

Phoned up regarding mobile phone contract number 2 and have reported that sim lost. They are now sending me a new one. No surprise i have had 4 missed calls from my ex's mums mobile number today (made me laugh ) the lady on the phone said i would not be able to downgrade the package as i still have 16 months to go on it.

Phoned to downgrade my bank account to a normal bank account so i don't pay the £15 a month for it but unfortunately the department was closed so will phone tomorrow and have it downgraded. I was worried they would take my £100 overdraft away as i pretty much live in that but the man said that will still even with a downgrade. Good news.

My SIA course is going good. 2 days left and have my test on Thursday. I am confident i will pass with flying colors and hopefully get some work through that but sadly i will need to scrape £220 for the badge before work through it so i think that will need to sit in the back till i get some income in again.

Sorted out the JSA today too. Thanks for the information Mikazaru, had no idea it was all online.

This is something i am worried about - If i do go down the bankruptcy or Financial difficulties/payment plan scheme route ,will this destroy my chance of becoming a accountant? How long does bankruptcy or financial difficulties/payment plan scheme stay on my name for?

Thank you for the information regarding job applications. I am contacting and sending roughly 30-40 cv's a day! Something must come back to me.

I was thinking of removing the gym membership as I'm not in a contract with it but i find its the only place where i stop thinking about money. I don't know why but i completely switch minds while I'm in there. It feels mentally good so I'm not too sure if i could let that go as its my 'breathing space'. Is it stupid of me not giving it up?


Once again thank you for the support. It feels so good to be able to speak about it.

Tixy

Members of ACCA do not automatically have their membership withdrawn as a result of becoming bankrupty (unless they don't inform ACCA and then it is automatic), but ACCA will asses the case individually to decide on whether or not they are allowed to remain a member. And will depend on the individuals circumstances etc.
This is different from ICAEW where you are automatically expelled.

For students I believe the same applies in terms of whether you can remain a student member of the ACCA. I don't think they would admit a student (who has passed their exams) to full membership whilst still bankrupt, but I think may consider it once a bankrupt has become discharged.

In terms of working in an accountancy firm - you would have to declare your bankruptcy indefinitely to a new employer when you go for a job and every year on a 'fit & proper' form. Certainly for a lot of employers (in accountancy firms) it would put them off employing you - when there is a lot of other people also applying for jobs.
In terms of getting an industry job in accountancy - I guess it would depend on the individual employer - againt I'd think it might well put a lot of potential employers off.

Personally I would say if you are serious about a career in accountancy I would avoid bankruptcy and an IVA if at all possible.

But arranging repayment plans with your creditors / doing a DMP should not cause any issues. As its legally an informal agreement it doesn't need to be declared.

bt1

closetodeath wrote: »

This is something i am worried about - If i do go down the bankruptcy or Financial difficulties/payment plan scheme route ,will this destroy my chance of becoming a accountant? How long does bankruptcy or financial difficulties/payment plan scheme stay on my name for?

Hey, as Tixy said, if you go into practice, then it maybe be a problem... but industry should be fine! (as long as its not a bank/financial institution) I work in industry and haven't had an issue with my bad credit. I guess it all depends on which industry it is!

kerri_dfw

Hi,

Just wanted to say congratulations on taking the first steps to freedom, I know it might seem a long way off but tiny steps will get you there.
I'd call your creditors, explain the situation and that you are going to seek financial advice. There's a company called CCCS, they are a free debt advice charity and lots people on here have found them really useful. They can deal with your creditors on your behalf and take away that panicking feeling everytime the phone rings.
With regards to the CAB, I'd go down to their office as I've never managed to get through to them before on the telephone so you might be more likely to speak to someone in person. Take all your documents along with you, and don't worry they're not there to judge you

I wish I had taken steps towards financial freedom a year ago when I was 24, I'd be in a much better position than I am now if I had.

I hope a job comes up for you, have you checked the local job centre board as well? Just getting something might help tide you over for now whilst you get on with your training. I'm not sure what to suggest with the family loan though, the CAB or CCCS should be able to advise on that one.

Kerri