Advised to go Bankrupt

shorty2506

Hi,

I need some help, i have been advised by a number of charitys to go bankrupt. I was on a DMP for the last 10 years, I then lost my job and was unable to make the min payment they required so they advised me to go bankrupt and closed my DMP.

How do they expect someone who has been advised to go bankrupt to be able to pay the cost to go bankrupt. I have contacted turn2us and there is no way they are able to help in raising the bankrupt costs.

I would be great if you could advise how I can raise the funds. I am getting letters daily from debt companys and have debt collectors banging on the door, it is really getting me down and really dont know what to do.

Many thanks

jacobtheamish

Ask member of your family?

MikeJO

https://forums.moneysavingexpert.com/discussion/4279781

tattycath

My sister offered to gift me the money to pay for mine-so I let her as, I agree the initial outlay is difficult to find when you're in that position.

shorty2506

I dont have any family memebers who are able to help. I have asked. I have checked the post with all the companies, I spent a day calling companies including Energy companies, Turn2us, british legion, and many more and no one was able to help!

Where do i turn??

tattycath

The only thing I can suggest is to sell as much stuff as you can : car boot/eBay etc to fund the bankruptcy.
The relief I felt afterwords was immense.

shorty2506

tattycath, thanks I will try. Things are very hard at the moment, as I am not working and my partner is seriously ill. I am also worried about the whole court process!

tattycath

shorty2506 wrote: »

tattycath, thanks I will try. Things are very hard at the moment, as I am not working and my partner is seriously ill. I am also worried about the whole court process!

I was worried about the court process too but my partner (of a couple of months at that time) took me to the court. I didn't have to see the judge -it was easier than I imagined it would be.
Don't expect it to be a doddle though-the process was easy but the after effects were that I couldn't get credit or a regular bank account etc.
I did get a basic bank account and I did inform my creditors. I had a telephone chat with the official receiver. I had to fill forms in and send them back.
I was renting at the time and was thinking of moving as my partner wanted me to relocate and move in with him. In view of me moving the OR let me keep my car.
Almost 7 years later my life and attitude to spending has totally changed. The only credit I have is a catalogue I am currently paying off.
I now save regularly etc. I applied for and got a regular bank account earlier this year. I have an overdraft facility (I didn't want it but it came with the account). Whereas before I was always in my overdraft, I never use it at all. I never used to have savings but now have a relatively comfortable cushion.
I didn't discover this website til 2007 (I wish I had found it sooner to be honest).
There is life after bankruptcy.
Hope this helps.