Please help me, my debt is destroying my life :'(

stupot_99

Hi Taylorclan,

You are what is known as a super mum. Your doing a great job, hang in there it will get easier. Its good to get things off you chest here and get advice. Forgive me if im being a bit dumb but if a debt is secured against the house and the house is reposessed does that not mena the debt is gone or am i over simplifing things. Maybe someone else who knows can answer that.

Take care and God bless, sending you big hugs.

Remember vent here anytime you feel things getting on top of you.

Stu

LannieDuck

Hi It sounds to me as if bankruptcy might be the best way to go in your case. How much do you need to raise for it? Do you have a family member who could lend it to you? If not, I might suggest that you stop all repayments, and put that money aside for the bankruptcy fee. But if you decide to go that route, there are others better placed than me to advise.

Another suggestion - given your OH's ill health, could he become a SAHD, and you could go to work?

Edit: Try freecycle for furniture etc instead of buying on hire purchase.

angelpye

Hi, just popping in to say if you do loose household goods then charities like frank buttle and glass pool are available for grants for families - a professional would usually need to refer you like health visitor, outreach worker or maybe family centre worker but worth keeping in mind. I work with families and glasspool have paid for and arranged delivery of white goods.

Take care and look for the light at the end of the tunnel, it's just around the corner

nat21luv

Just a suggestion but why don't you consider swapping roles with your DH? Whilst he's recovering he can do the school runs, see to the children and in the day keep the house ticking over while you work full time. It will give you a sense of worth and help combat your depression as well as pay the bills. It doesn't have to be permanent, when he's better he can go back to FT work and you could drop to PT hours.

Really hope you can get past this, MSE is a wonderful place that will be your rock whenever you need it

tudorfan22

didnt wanna lurk and run, but just wanted to say that we went BK in 2007 and it was the best thing really. a fresh start and so much of a relief, saved our mental sanity really. if you can do it i would - but please, im not a financial advisor or anything!! im sure other people are better placed to help, but just wanted you to know there is light at the end of the BK tunnel!!

((((((((hugs))))))))))

poledancer49

The above have given you good advice. I wish you the best of luck sorting it all out. Look after yourself and family

moonpixiewitch

Have read the thread of responses already and it seems the other posters are more up to date with their knowledge of bankruptcy (i had to go bankrupt in 2003 ) so I won't offer my two penneth on that one . It was the best thing I ever did though - i finally got some sleep at night and I was able to claim back some of the fees because I was on working tax credit , but i dont know if that would still be the case .

now to the furniture etc
I don't know whether brighthouse take the stuff back off you if you stop paying or whether they just send round debt collectors , but either way you need to free up some money to pay to go bankrupt , so you may as well try to start accumulating replacements now .

try http://www.freecycle.org
or
http://www.ilovefreegle.org
and your local council - ours runs a scheme called 'twice as nice' which helps those in need by collecting it from those who have finished with it . your council may run a similar scheme .

iolanthe07

if a debt is secured against the house and the house is repossessed does that not mean the debt is gone

No, unfortunately it doesn't. The creditor has up to twelve years to chase you for the shortfall between what they sold it for (+ costs) and what you owe them. Bankcruptcy would seem the best option here, but OP does need to take professional advice first.

retepetsir

Lower the mobile phone and grocery amounts and that should hopefully give you enough for paying the bankruptcy fees. However it's definitely worth phoning Debtline.

Barbeduk

Loads of advice on the old style boards about feeding a family cheaply. Can recommend the grocery challenge, and there are some good recipes on page 1.

Great advice on your thread so far. Just strikes me as daft that you have to pay to be declared bankrupt!

Really second the advice to see your GP, as others have said it's you and your family that are the most important so please make sure you look after yourself.

Good luck.