Bankruptcy Hell

Rrushi_Shqiptar

i thought I would share my story here, I am new here and hope you give me the benefit of your experience and time to read this?

I was seriously injured on duty twice both seriously the latter forcing me to retire medically as a result of the combined injuries received (no compensation either) I went through a series of painful surgeries and rehabs. I had no counselling or advice re my life in retirement or how to deal with my injuries etc.
I went through stages of depression and drinking to forget etc. i also started to fall back on my credit cards and a mortgage and panicked about the payments and started to ignore things and this obviously made things worse. i was in denial about my mental state as well as my finances and life in general.

2009 i was made bankrupt by arrow global who bought a £900 credit card bill from MBNA I believe, i cant say i didn't get the letters as I never opened them I panicked and was physically sick when the postman came. I wasn't even aware of the bankruptcy til I received the letter telling me I was bankrupt..... I saw the OR at his office, or his staff anyway, all seemed to go well and I was informed I would probably keep the house and that I could keep the car and that he wasn't interested in any little assets I had. I was told my wife could by the interest in the house from me and info would be passed on at a later date. Still having pressure re the debts and in 2010 I couldn't cope any longer I attempted to commit suicide and was found by police, not through my planning I hasten to add.

I was subsequently diagnosed as having PTSD, depression and other physical complications due to my previous injuries.
My marriage started to break down, I have 4 children which I felt I had let down badly as well.

2012 almost 2 weeks before the 3 yr period for the receiver to take interest in my house a letter came from a Robert Cundy insolvency practitioner stating that he had been instructed to sell my home to realize any monies in the value of the property and put into my bankruptcy estate. After my wifes percentage was given to her the amount left was taken up by his fees and the home secretaries fee. We did most of the work for Cundy and complied as required, they on the other hand have been awful, no replies to emails, getting figures wrong, attitude towards me and complete disregard. I am still waiting for paperwork regarding final bankruptcy etc.

I am now slowly getting myself back up on my feet, bankruptcy drops off my file on 22/12/15. I am now struggling to sort my credit file out and get corrections made.

Bankruptcy is a horrible place to be whether you go bankrupt voluntarily or forcibly with far reaching effects. Think before this happens and get advice and remember even the advice you are given can be wrong, check and check again.

Thanks

egrescrimp

Thanks for sharing your experience, I'm sorry things have been so hard for you

I haven't up to this point found bankruptcy horrible, in fact it's set me free from years of misery and I now live by a very strict budget that both me and my partner are happy todo. Years of fighting to pay back credit agreements whilst the kids grew up quickly, making things get worse as we tried to keep up with them we incurred more debt. Our entire family is happier as a result of me going bankrupt, previously my kids walked around the house on egg shells incase I snapped because of the pressure the debts were putting on me.

Bankruptcy isn't horrible for everyone, but thanks for sharing your experience as bankruptcy won't go well for everyone.

I'm pleased that your children still have both parents though, they can go without money but not their parents. Good luck for the future and I hope life improves for you.

Rrushi_Shqiptar

I'm pleased that your children still have both parents though, they can go without money but not their parents. Good luck for the future and I hope life improves for you.[/QUOTE]

I am sorry to tell you that we have now split up and live apart, my mental state and physical trauma have had a lot to play with whats gone on.

I am now a happier person financially, and have the support of a new partner. now need to work on the childrens trust etc.

But i am coming out of this a better financially fit person.....never thought i would say that