Please help

vwhitelaw81

Hi
I had a limited company that went down in December 2011, however I had signed personal guarantees that I wasn't aware of.
As a consequence I have been left around £45k in debt
I managed to get a new job and was in the process of arranging a trust deed however last Friday I lost my job.
It took me the best part of a year to find a job after my business closed as what I do is quite specialized so dont know when I will get a new one.
I am now looking at bankruptcy (Im in Scotland)
I am a home owner but am in negative equity by around £20k
What I need to know is will my house be ok?
I also have a car on hp but it is in negative equity too, will I be able to keep my car?
I know that I have to do something as Im drowning at the moment and not sleeping
I am aware that this will kill my credit rating but its pretty dead at the moment anyway
With regards to making payments what will happen when I get a new job, will they take money from me?
Where would the best place be for me to go and have the paperwork done?
Im only 31 and so upset that Im having to do this but know I have no other choice (Ive left my family in a heap of debt from the business as they signed personal guarantees too
All help would be great

[Deleted User]

How can you have been unaware you were signing personal guarantees :huh:

whichwhydoIturn

Hello I didn't want to just read n run.
I wanted to reassure you that here you will get given some sound impartial advice which is given by people that have had those times so, it comes from the heart.
My date for BR is 21st February , I don't sleep , I m just hoping that I can throw myself into work until next week.

vwhitelaw81

As I trusted a lawyer that I paid a hell of a lot of money to

Tixy

Hi

You might find this factsheet a useful start to considering bankruptcy in Scotland http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=01_bankruptcy