Bankruptcy question, please help!!

carolinewebber

Im considering bankruptcy because i feel this is the best option for me but i have two contract phones, one is for me and the other is for my 14 year old daughter, the thing is my contract i just recently upgraded and so i pay around £50 each contract, do you think they will make me get payg and and make me cancel the contracts and include them, im just worried because i was stupid and upgraded, the other thing is a loan from pounds to pocket, i was struggling and i had a loan for 900 payable over 12 months, i cant see them being happy about this as it was done knowing i wanted to apply for bankruptcy....Help!!! Caroline

egrescrimp

Hi Caroline

First thing, please don't panic or worry about things

You are allowed a mobile phone, providing it's reasonable. £100 is pretty excessive so if you are wanting to keep those contracts and providing the phone companies don't cut them off when/if you go bankrupt then you may need to make up the high cost of these phones from other areas of your SOA. Question is though, do you really need a £50 a month phone contract? what is so good about the package that you couldn't replicate for cheaper?

What was the reason for the loan?

silvercar

£50 a month! I'm thinking that as well as a high usage package that gave you two new phones. If the provider does cancel the SIMs, your option would be to buy (£5) pay as you go SIMs and put them in the phones. Then you can buy all-you-can eat tariffs on PAYG very cheaply, certainly much less than £50 a month.

You could also sell those nearly new phones and buy a much cheaper phone.