How does bankruptcy affect your day to day living?

ScorpioLady_2

I was just wondering on a Day to Day basis, how does bankruptcy affect your life?
Apart from the 'stigma'...............who will know if you don't tell them?
No credit card...................would we ever want one again anyway?!
Without meaning to pry, just wondering how often the issue comes up on a day to day basis.

winnie81

We haven't had our OR interview yet but I can safely say whatever he does to us could never be as bad as avoiding the phone, post, door bell etc and knowing now we are finally free of the debts that were completely crippling us is such a relief nothing can compare to that. I am fully prepared for anything as it will always be better that being stuck back in the debt ridden situation we were in

gettingitsorted

Hi scorpio,

i think the stigma that was at one time attached to being bankrupt has now reduced greatly,yeah you can no longer get credit but would anyone ever realisticly want it again,i have not found any problems with the day to day living i have a basic account with a debit card so have not had many problems with that side of things and infact i find it alot easier to manage my money than i used to .

jobby_2

For me it doesn't on a day to day but it is with you in the background all the time and a situation will arise that you hadn't anticipated

- eg this week not being able to write a cheque to agency for fees sorting new accomadation to rent and a deposit cheque.

Recently had to pay all of year's car insurance as our company doesn't do Direct debits with bankrupts - did not have an option to change insurers as NFU only company we have found who will insure minibuses

Positive thing is knowing exactly what is in the account as mostly dealing in cash - learning control is a wonderful thing - have to be careful using coop electron card as I still have a tendency to just hand it over to pay for shopping etc rather than planning ahead - definitely not having a credit card ever again but learning lessons all the time

ScorpioLady_2

Thanks for your replies.
If Alan Sugar can say on National TV about being bankrupt twice, and the country certainly don't look at him on his programme as if he's a failure, then it does seem the stigma is going.
Was just in a shop and found myself looking at the visa picture on the wall and seeing if they took electron and solo, and yes they did!!;)
Surprised about direct debits though

hulltrucker

ScorpioLady wrote: »

I was just wondering on a Day to Day basis, how does bankruptcy affect your life?
Apart from the 'stigma'...............who will know if you don't tell them?
No credit card...................would we ever want one again anyway?!
Without meaning to pry, just wondering how often the issue comes up on a day to day basis.

I have been BR three years now, would never have another credit card or loan and feel good that my finances are fully under control now. never have had any stigma, i am quite open about my status and most people dont bat an eyelid.

Few bad points come up to be honest - but here are all i can think of

Usually you can only get an electron/solo debit card which some (but not many) places dont accept - some places that dont are Travelodge website, Holland & Barrett (I keep moaning at them though!) Prudential Car Insurance

Some Insurers will not accept you for house contents insurance (Lloyds TSB for instance)

Most banks / building societies will not employ you (Is this really a bad thing!!??)

You cannot get some of the best rates of interest on your money - for instance A&L current Account has paid high interest for ages, but you cant have one as you dont pass the credit score (even if you dont want to borrow money or overdraw)

Had to really rack my brains to think of these so you can tell it dosnt come up that often!

Hope it helps and good luck

jobby_2

Agree about stigma - what stigma - we have been really open with friends and aquaintances and have had only support, concern and then similar stories or nearly there accounts

It seems for many it is a relief to talk about money and how difficult it really is rather than superficial 'I'm a bit broke' chats.

Family have been ok but some older members rather shocked and disappointed, own parents didn't want us to talk about it outside close family and as we live 200 miles away that's fine because rest of family all live near each other and love gossip!

Husband had to resign as school governor which to be honest was a break as we were on too many committees as it was! (school being ofsteded this week so sad we can't help but sure they'll cope) and have been able to say no to more committments. In fact learning to say NO has been a really positive thing in all this

ScorpioLady_2

Thanks for your replies.
Stigma............Personally I think this is a knock on from upbringing. ie I am almost 50 and had the strict upringing of no debt etc etc. I constantly battle with feelings of worthlessness because I am a 'failure' as I am in debt. However I am trying to keep reminding myself of life events that have brought about this. ie single handedly bringing up 4 children on my own, (2 marriages, 2 children each.........both times left with babies on income support and no maintenance, unlucky eh?!). Even the CSA have got me further into debt, as have the tax credit situation.
I have my upbringing ringing in one ear, that I am a failure, but also have 4 very well adjusted, happy, healthy children who surely would rather have a bankrupt mother (?) than a dead one through suicide as I often feel.
So relieved there is this forum to 'chat' to.

desperate_mum_3

Scorpio lady ... you sumed it up in that sentance about your kids !!!! THAT is ALL that matters , i had been in debt for 15 years strugling , getting ratty with kids because i wanted to give them their pocket money but needed it to pay something else ...my kids are also well adjusted and happy especially now they have their pocket money back ..... don't worry about other people you kids mean more ....I have not come across any problems as of yet regard being BR , i have an electron card and managed to book a ticket for my daughter to go to thorpe park on the net and it all went through ok .. good luck it is a big step but worth it ...

jobby_2

This place has helped in so many ways from advice to support and a major sanity stabilizer - keep thinking about those 4 happy healthy well adjusted children - my 4 keep me on track too!

Good luck Scorpio

desperate_mum_3

exactly .... if i had known how much this place could have helped me in the past i would not have wasted 4 years on anti depressant tablets burrying my head in the sand ... I would have coped better with my problems .....