What to do - is bankruptcy an option?

sort_me_own_yard_out

Skye,

I think while ever you can sit and deliberate if bankruptcy is right for you because you would have to pay more in an IPA then what you are paying now the answer is "No it is not right for you!"

Bankruptcy (I am not saying you think it is) is not the easy fix some people think it is where they walk into a court and an hour later free of their debts and their money is theirs regardless.

I was and most others were desperate and bankruptcy the only option. By reading your thread and the figures you have put up here that you are in a better position that the majority of us could ever dream of!!

Without sounding condescending why don't you have a look at the old style money saving boards that will be able to give advice and tips on how to get the likes of your grocery bills down etc.Or the debt free diaries where people blog their journies of becoming debt free.

I wish you luck and I hope you never have to consider bankruptcy again.

skye

Thanks, I never for one minute thought it would be a cheap fix, just being in debt for so long I'm struggling to see the light at the end of the tunnel. I think maybe whilst I have this job I have to grit my teeth and bare it and the bad management that goes on there. Before I sold the house I was in a worse place financially so I guess now I have more money to throw at my debts. I've used those boards (cooking from scratch more, buying value products, using money saving vouchers too), but yes could probably do with giving them another go.

TheGardener

Have you been to the StepChange website? They have an online debt remedy tool which is amazing. If you give it all the info it needs - it will tell you which is your best - or choice of options. Then you can call them to talk the 'remedy' though. BR should never be guess work.

skye

Previously when it was called something else it said a DMP was suitable for me with taking 7-8 years. Things have changed now so I'll try it again (thanks), but I'm assuming it'll say the DMP again (hopefully with less years!) - as my credit cards are 0% I didn't really see the point in the DMP.