Help ,at Witts End

lynzpower

what does your partner earn?

allofadither

I've no experience about the DMP and the IVA because neither were viable options for me.

I'm almost certain it would be impossible to go bankrupt without your partner knowing because you live together and because some details about other members of the household have to be disclosed.

In any event, the OR will take over your financial affairs so you will no longer have access to credit of any kind for a minimum of six years....difficult to keep secret.

wurzelguamge

partner earns around 1200 month, but she pays her mortgage, 600 a month, car, 250 a month, electricity, around 50 a month , she usually relies on me to do the rest.

:-(

rog2

Hi Wurzel - You are going to get some fantastic advice on this forum, especially now that you've posted your SOA - so stick with us, we've all been where you are now.

I can see, by your posts, that you are at an 'all time low' but I'm a bit concerned that you seem to be considering bankruptcy so quickly.

As 'Dither' has said, there are charities, such as CCCS, CAB and PAYPLAN, who can look at your situation and offer good, free and impartial advice on the many possible solutions, of which bankruptcy MAY be one, that are open to you.

Please try to avoid the temptation of replying to one of those adverts that tell you that they can 'write off up to 90% of your debts'.

Good luck.

wurzelguamge

read a post on a forum from a guy who was bragging how easyit was and it was the best thing since sliced bread.

Have contacted payplan and gone through the details with them, but hadnt prepared any details when they rang and in my confusion when i was talking with them i forgot to tell them about my loan for 245 a month and my coop credit card.

they came back to me with a plan to pay 900 pounds a month !!!

couldnt do it so have muddled on , but have reached breaking point now.

rog2

wurzelguamge wrote: »

read a post on a forum from a guy who was bragging how easyit was and it was the best thing since sliced bread.

Have contacted payplan and gone through the details with them, but hadnt prepared any details when they rang and in my confusion when i was talking with them i forgot to tell them about my loan for 245 a month and my coop credit card.

they came back to me with a plan to pay 900 pounds a month !!!

couldnt do it so have muddled on , but have reached breaking point now.

Have a chat with CCCS as well - they may reccomend an IVA, or a DMP over a longer period.

wurzelguamge

what happens with a dmp, can your creditors harrass you?

wurzelguamge

ps did reply to a few of those ads, quickly figured out it was a scam.

allofadither

Wurzel,

The official process for going BR can be reasonably straightforward, but the emotional process is a different story entirely and the implications are far reaching, so it is not a decison to be taken lightly.

Whichever route you take, you will have to gather together all the information about your finances so preparation is essential, however uncomfortable and painful it maybe.

Can you go back to Payplan with the new figures and ask them to revise their payment suggestion? And like Rog says, try CCCs as well.

wurzelguamge

think that would be the best thing, but can it be kept secret, how does it effect your credit rating?