newbie

TeamQuest

Hi all, I have over £70.000 worth of debt which has spiraled over 9 years, i went ti the CAB who were rubbish. I then went to the CCCS about 15 months ago which was recommended by one of the credit card companies !! they have been really good even when i have been crying my eyes out over the phone! Its really depressing and i would love a day without feeling lower than low, on medication and a husband thats angry at me ! We own a house in a cheaper area of the country but want to buy one where its more expensive. I keep thinking about going bankrupt but then we couldnt get a bigger mortgage could we ? Oh, I dont know what to do. Anybody got any good ideas apart from wanting to go to sleep and not wake up!?

TTMCMschine

Hello,
in fairness I don't think it would be a very good idea to take out a more expensive mortgage even if you could get one - that would only make things worse.

Perhaps if you put that idea on hold it might be a bit more bearable - bad enough to have the debts without seeing your dreams as unattainable too.

Someone else is bound to say this, so I'll say it first - can you do an SOA?

Mozette

http://forums.moneysavingexpert.com/showthread.html?t=107280 Read this, post your statement of affairs and lots of lovely people will help you. But read a few of the threads on this board and be inspired by them, no problem is insurmountable, honestly.

TTMCMschine

Ha! Beat you to it Mozette

Mozette

I could say something mature, but I'll just say ya boo sucks instead!!!:rotfl:

smilealot

Welcome TeamQuest :hello:, it's lovely to have you here. Post your details and these wonderful people will arrive with their advice (I'm a bit of a fledgling still!).

Amanda4242

Hi there, I'm pretty new here but I do know that you'll need to post up an SOA - which is all your incomings and outgoings for the month. Then some lovely person/people will come along with some advice.
Hang in there, I know it gets very scary as I too am in debt and only just starting to deal with it. So believe me I know how you feel. Sit down have a cup of tea, and wait for the kind helpful responses.

And most importantly WELCOME!!

pinkshoes

If you declare yourself bankrupt, don't they sell all your assets to cover your debt i.e. your house? or maybe i'm wrong about that?!?!

thinking about a bigger mortgage when you're so far in debt isn't really a good idea. How about tackling your current debt before taking on new debt?

cut up all your credit cards, and don't spend any money unless you REALLY need to! after gas, electricity, council tax, mortgage and commuting cost to work, you really don't need to spend more than £20/person each week if you try! See it as a challenge rather than a chore!

TTMCMschine

Mozette wrote: »

I could say something mature, but I'll just say ya boo sucks instead!!!:rotfl:

:rotfl: :rotfl:

TeamQuest

hi, i've done one of those with the CCCS

TeamQuest

Is a SOA when you work out all your outgoing ? I've done this with the CCCS and they pay my creditors all my extra money - £319 a month. I've heard that if you go banktrupt your partner can buy out your half of equity in the house and then you wont loose it, is this true?
Thanks for all help so quickly