My Advice, Take Proper Advice

coolcait

michael1983l wrote: »

I have been in a difficult position for a while and have been putting Bankruptcy off. I never really took real advice and just listened to certain established members on here thinking that the advice would be sound. And although I am sure that those people had the best intentions at heart, I think that the advice they may have given was slightly exaggerated in relation to BR and actually scared me into not doing something that I should have done a while ago.

First of all I was led to believe that my BR would go on for upto 15 years because I had gambled at some point in the last 2 years. Which was partly true and partly exaggerated. Although I could be under a restriction for that time, the BR still lasts the same amount of time as everybody else's.

Secondly I was led to believe that any payment I had paid to my parents in reference to a loan I had with them, whilst I wasn't paying my other creditors, I was told the judge would issue a demand to my parents to pay it back to the court. Although this can happen by the letter of the law, stepchange didn't at all seem concerned that this was ever likely to happen.

So my advice would be when considering Bankruptcy, yes listen to people on here and take on lots of good advice that is available.

But always speak to the professionals before you make any decisions otherwise you could end up like me, burying your head in the sand and having a couple of years of a terrible life, when it could all be out of the way already.

I'd have to disagree with the way you've summarised the advice you've been given on this board.


I'd agree with alistairq's hypothesis

dojoman

That is why most peeps first piece of advice on here, is to seek advice from one of the debt charities, although IMHO the advice given by the majority on here is every bit as good as you will receive elsewhere. I am 5 years in and this forum has been invaluable.

dojoman

michael1983l wrote: »

I have been in a difficult position for a while and have been putting Bankruptcy off. I never really took real advice and just listened to certain established members on here thinking that the advice would be sound. And although I am sure that those people had the best intentions at heart, I think that the advice they may have given was slightly exaggerated in relation to BR and actually scared me into not doing something that I should have done a while ago.

First of all I was led to believe that my BR would go on for upto 15 years because I had gambled at some point in the last 2 years. Which was partly true and partly exaggerated. Although I could be under a restriction for that time, the BR still lasts the same amount of time as everybody else's.

Secondly I was led to believe that any payment I had paid to my parents in reference to a loan I had with them, whilst I wasn't paying my other creditors, I was told the judge would issue a demand to my parents to pay it back to the court. Although this can happen by the letter of the law, stepchange didn't at all seem concerned that this was ever likely to happen.

So my advice would be when considering Bankruptcy, yes listen to people on here and take on lots of good advice that is available.

But always speak to the professionals before you make any decisions otherwise you could end up like me, burying your head in the sand and having a couple of years of a terrible life, when it could all be out of the way already.

I have just read some of your old posts and the above comments are not only unfair but they are not true either. I actually answered you about extended BR it is post #4 on the thread below,

https://forums.moneysavingexpert.com/discussion/3421969


So to come on here and accuse "established members" of giving you incorrect info is rubbish.

michael1983l

dojoman wrote: »

I have just read some of your old posts and the above comments are not only unfair but they are not true either. I actually answered you about extended BR it is post #4 on the thread below,

https://forums.moneysavingexpert.com/discussion/3421969


So to come on here and accuse "established members" of giving you incorrect info is rubbish.

Thanks, I am not sure I read that reply, it wasn't the one I was referring to. There was another member who gave me specific advice on the matter, which scared me into not pursuing it.

I am not blaming anybody, it is my fault for not pursuing advice from professionals.

NINANinja

I think it works both ways. I had cause to question, through this forum, advice I was given by Stepchange. Turned out Stepchange were just 'covering all the bases' rather than commenting on my personal circumstances. The OR did this too during my interview, describing BRU/Os etc.. Terrified me then, terrifies me now.

wildheart83

Advice is given here not to scare an individual but to try to ensure that the individual has their eyes wide open with regards to bankruptcy and all that the process entails.
I didn't read it as posters trying to scare you out of going BR, but it's easy to misunderstand when you have so many differing thoughts and ideas running through your head.
Most people (myself included) will post their own experience as it's often relating to something that no one told them, or they didn't know.
A 15 year BRO is extremely rare, but it does happen, and it's increasingly the case. It's not pointed out to put the fear in you, but to make you aware that this does happen in real life, not to say it definitely will happen to you.

Wishing you all the very best with whatever choice you make