Bankruptcy advice for Student-to-be

Richard_S

savagevixen wrote: »

:rotfl::rotfl:Actually I am a complete softy and was bailed out by both mine and OH's parents many times, and will for sure let my kids walk all over me:rotfl::rotfl:I just really found it odd that she mentioned her parents weren't well off and she repaid a loan of £108 per month to them, and yet she has made an adult decision to leave her job and go back into education for 3 years without any extra income or savings, and if bankrupt, without the usual overdrafts etc.I could just imagine these lovely little parents, trying to be supportive and do the right thing by their poor daughter, who frankly appears to be having her cake and eating it.
Obviously I was completely wrong and I apologise. She is a mature adult and is obviously capable of making the right choice.

Hi Foxy,

It's the same old story really. Everybody reads the same post and unless it's a really straightforward question, all the responses will be different; we all interpret things differently and come to different conclusions.

It never actually occured to me that the O.P was possibly being unfair to her parents. All I saw was somebody with a debt burden, who was about the same age as our elder daughters and thought "hey, she deserves a second chance" and studying for three years to improve her job prospects seemed like a positive step forward.

I took a degree as a mature student when I was 30yrs while supporting four children but it was a heck of a struggle. I worked evenings, weekends and holidays so the children didn't go without and looking back it was a very enjoyable three years, I had more time to spend with the two youngest than I'd ever had with the eldest two.

TFI Friday :beer:

NekoZombie

It will be hard, as I imagine the OP will not have access to the usual student credit facilities, which these days are almost an essential part of student life. I would say uni would be very difficult without any savings to compensate for this, but not impossible!

Personally, I'm sure the OP's parents can decide whether they want to help her or not, but the OP needs to make sure she can cope without any financial help.

missylou_2

The biggest problem with all the usual sources of student credit is that they all want repaid pretty soon after graduation making most wish that they had managed not to borrow in the fisrt place. No such thing as a free lunch is especially true regarding student debt!

Anyway point I am trying to make is that more often than not student debt comes back to haunt you, and maybe it would be better not to have that option in the first place, and the OP may actually find herself in a better position than most of her peer group after graduation!

Skinto123

Hi There

Thanks to everyone for discussing my situation - I appreciate it.
I didn't come on here to be judged, and I certainly didn't come on for sympathy. I know I am at complete fault here, albeit the reasons for my debts were not due to squanderous activities, but for personal reasons. Fact is - they are there.

Putting off university isn't really an option - I have handed my notice in at work already. Also, from working in the healthcare profession already - I work with nurses who have informed me that on top of my bursary, I should be able to work evenings to earn a reasonable income. My current employment has said that they would have me with open arms!

I suppose my main concern in coming onto this forum was to see if you could reliably advise me as to whether, under my circumstances, I should go bankrupt. I don't care in the slightest that I cannot get credit for 6 years, or whatever it is - as debtmonkey said that's a GOOD thing. I have learned a very serious lesson from this debt. Credit is NOT GOOD. Living beyond one's means is NOT GOOD, even though as I have said, the debt was not entirely down to foolish spending. And whether my parents have bailed me out or not isn't anyone elses concern - I mean this in the nicest possible way. The loan was for personal reasons.

I am going to the CAB and hope to get further advice from them.
Thanks to all for responding to my query - I am grateful you have all taken the time to discuss this thread. I will let you know how I get on!!

Julie xx

fermi

Hi Julie,

I hope you read my replies (and those of others) about bankruptcy itself among all the 'other' replies.

I hope that whatever you decide to do that it works out well for you.

BettiePage

Skinto123 wrote: »

I work with nurses who have informed me that on top of my bursary, I should be able to work evenings to earn a reasonable income.

Julie xx

You'll be working shifts whilst on placements so you won't be able to do set evenings. You'll have to fit in around earlies, lates, long days and nights.

Richard_S

BettiePage wrote: »

You'll be working shifts whilst on placements so you won't be able to do set evenings. You'll have to fit in around earlies, lates, long days and nights.

Bettie,

Was that advice, support or are you just letting your mind wander? :eek: :eek:

Broken_hearted

Well I asked my dad to bail me out so he just sort of looked at me and handed over £10. Guess he kinda underestimated my debts.
As for going to Uni go for it, you can only regret what you don't do.

Posthinking

Broken_hearted wrote: »

Well I asked my dad to bail me out so he just sort of looked at me and handed over £10. Guess he kinda underestimated my debts.
As for going to Uni go for it, you can only regret what you don't do.

:rotfl: Us dads are a bit like that!

BettiePage

Richard_S wrote: »

Bettie,

Was that advice, support or are you just letting your mind wander? :eek: :eek:

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