Going bust with unreliable income

onthewayout

Hello,

I had a bit of a lightbulb moment last week.

Vanquis offered me a higher credit card limit from my next statement date, but then sneakily charged interest before giving me the raise. I had spent right up to the limit, so that made it go over. I rang them up and they waived the £12 overlimit fine, but said someone would have to ring me back about my higher limit. Surprise... I never got the call.

So I thought about it, and talked to a debt adviser at Wilmott Turner, and basically admitted to myself that I'm insolvent. I wouldn't want the Vanquis raise anymore cause I don't think I could ever pay it back, but I thought I'd have a bit of time to sort out my next move.

What has changed since then is my pay. The wages I just received are barely enough to live on even if I don't make minimum payments.

My debts have been around for a while, but my most immediate problem is I don't have a stable income. I have several part time jobs with casual pay, and what I get each month varies too much for a sensible budget. I'm waiting to hear about one steady job and applying for others, but I already can't pay my debts. They are still up to date except Vanquis, but this month's payments are all going to bounce and I won't start a proper adult job til next month. At best.

What would happen if I turned up in bankruptcy court without a stable budget to live on?

The guy I spoke to at WT said I could try asking for a temporary interest and charges freeze while I find a better job. Has anyone else done that and got a positive response?

Should I post a statement of affairs on here for comments?

Depth_Charge

Hi

A little difficult to say due to your potential change in income as your long term solutions could well depend on this amongst other things.

Always best to get full advice on all options before deciding on any solution or turning up at court etc as the District Judge will expect you to have done this and to have the forms filled in correctly etc.

It would not hurt for you to post your SOA as it would give some idea of your circumstances.

Also what has been your average monthy pay over the last 6 months say?

Have you tried contacting the CAB, CCCS or National Debtline, they are all free?

Also maybe try the CCCS or CAB online debt remedy / resources as this might give you some idea

http://www.cccs.co.uk/

http://mymoney.nedcab.org.uk/moneyadvice/