can i go bankrupt as i cant see a way out

pauletruth

because the bank will shut it down when your bankrupt.

Bella_Smythe

bodmil wrote: »

You have debts AND sky, that's all that matters!

oh for gods sake. in this situation you can hardly go out, do nothing but work and pay the bills. leave the sky alone please. its not like its enough to make a huge difference

alastairq

Hi, you need to take a serious look at the stickies at the top of this forum.

I recommend applying to open a Co-op Cashminder account immediately. [do not mention BR, because you are not BR...and plans can change, surprisingly].


You really need your own, separate financial arrangements, rather than using a partner's/someone else's banking facilities.

In fact, once one Cashminder is open, up & running, apply for a second one.

Use this account to pay out all DD's and fixed essential outgoings.

Use the first for income, and day-to-day living expenses.

Simply transfer sufficient funds to the second account to meet all bills and DD's...as & when income hits the first account.

Use internet access to manage this.

But, as I said above, I strongly recommend not using another's account for your own finances.

The reasons stem from my becoming cynical over relationships.

By maintaining separate finances, your partner's financial record does not get tainted by association with the future BR.....and if the relationship does go pear-shaped [as such things tend to do, from time to time]....you will have minimal financial links to deal with.

crowmans4

pauletruth wrote: »

because the bank will shut it down when your bankrupt.

ok yes they will shut my only hakifax account

but

wont that also apply to any co op account i were to open now before i go BR

tigerfeet2006

No! Read alastair's reply above and mine on this and the bank account sticky!!!

heartbreak_star

They will shut all accounts that have the possibility of any sort of credit facility. A Cashminder doesn't, therefore will remain open for main account use.

HBS x

alastairq

They will shut all accounts that have the possibility of any sort of credit facility. A Cashminder doesn't, therefore will remain open for main account use.

''They''...being the banks themselves, not the OR.

heartbreak_star

Yep, sorry I didn't make that very clear!

HBS x

crowmans4

after getting the advice on here and talking face to face wit h a debt advisor BR seems my only option. the only thing i am told is that do it now yourself or let it runs its course as the mortgage company may take you to court for any shortfall same as rates. ive asked mortgage company to send me a pack regarding voluntary repocession as advised and see what happens next. whatever next step may be

Tryingsohardtofloat

Sorry to hear about your situation crowmans4, its so stressful when you keep getting those letters & threats.

Have you taken advice yet? My ex husband got hold of a bank card that I had for an account that I never used, it was an old current account & I opened another one & put the card away for the old one just in case. It had a £500 overdraft on it which he promptly spent & I started getting calls from their collection dept. Like you, I didn't see this as 'my' debt however because it was my account the bank told me I was liable for it. So even though I didn't see a penny of the £500 I still had to repay it.

Please go & see CAB or phone one of the charities, they do not judge, they have seen worse cases then yours & you will feel better after taking it in hand. It worries me that you do not see the credit card debt as yours, but you may still be liable for it as I was. You need help with this, help is available & free. Take it.