Is bankrupsy the right move?

chadarooney

I have been preparing myself for bankrupsy for some time, I have debt to four credit cards adding up to just over £17,000, I will never pay this off. I am disabled and suffer from Bi-polar. However I heard Martin say that bankcrupsy is not an option for everyone and the consequences can be dire. I am totally confused now. I am sick of worrying about this debt and would like to know what I should do.
Thank you.

PippaGirl_2

Everyone is expected to take legal advice before making such a decision so I would call one of the FREE debt charities or visit a CAB to discuss your options. Questions that need to be asked are, do you own your own home or any property? Do you have any assets or savings? Do you work? Bankruptcy is not dire for everyone, for some it is a blessed relief.

rossireps

give someone like national debtline or cccs a call. they can give you advice and support on which would be best for you

IF

Hi chadarooney, I agree with Pippa and rossireps it is important to contact one of the following debt charities. Please try these they don't charge and are impartial. They will go through all your options with you and if they suggest bankruptcy then come back to this board and we will help you all we can. Also if your not ‘clicking’ with one of the Debt charities do try another. We advise you to try at least two others for your own piece of mind. Your BR could be refused if you have not sought advice.

* Blue text on this forum usually signifies hyperlinks, click on the blue links below *

Main recommended sources of help:

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

Others:

• Business Debtline
  - Website: Business Debtline Telephone: 0800 197 6026
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

Please don’t do anything rash take your time and weigh up your options and read everything you can.

We often ask you to post your SOA so we can see if you have included what you need to:-
MSE SOA Calculator - Click here
Select the MSE format at the end. Copy and paste onto your thread.

For ‘essential’ BR info the ‘Look here first’ sticky by Fermi.

BR friendly home insurance thread.

BR Friendly bank accounts sticky.

BR Abbreviations

Bankruptcy NDL Guide

Basic Bankruptcy Advice & Guide NED CAB

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Best wishes
If...x