Some help and advice needed please

seanoff

I have debts with two creditcard companies totaling about £9000

I am a divorcee and these debts were acrued during the marriage but in my name.

I did the classic and hid these debts from everyone including me until they caught up with me- the debt had by then been sold on so two companies still but not the original ones- and I was paying at an agreed amount.
Last April the company I worked for closed- I did not get redundancy as I hadnt worked for them for two years.
I didnt claim anything but in the may I moved in with my partner- I stopped payments as I was claiming jobseekers.
I have found it hard to find work and i am still unemployed my partner works part time 17 hours at just above min wage.
I am now considering bankruptcy-

Is it just myself who will be made bankrupt?? I am dreading the thought of bailiffs or such like?

I have not sought professional advise yet.

There are three children living with us- one a recent baby.

We have just enough to live never mind pay off extras

What are the long term affects of bankrupcy eg will it effect my career prospects? I don't work in finance?

thanks
sh*tt*ng bricks about the whole thing

relaxsoon

Hi ,

check this site out http://www.payplan.com/bankruptcy.php

Tells you all about bankruptcy

Also i have just become bankrupt today and i have alot to pay of so before it has got to that stage i have decided to declare my self. depends what you want to do .

PixiePie

Firstly, I really really recommend you call one of the FREE professional agencies that can help you specifically - either CAB, CSSS or National Debtline. I phone National Debt Line and they were so so helfpful and nice, not at all judgemental, so don't worry about calling them.

In the meantime, please try not to worry to much about things - yes I know that's hard (if you look back at my posts you'll see I am in a poo situation (my own fault I guess), so I know its hard), but at the end of the day, it's not worth your health or family's happiness to get too bogged down.

BR has lots of bad things about it to be honest in that a lot of things you pay for on credit or insurance will be either impossible for you to get (ie CCs) for the term of your BR and up to 6 years afterwards, or with v v high APRs and premiums (eg, home insurance can be tricky to get once BR as you will probably be asked on any quote forms if you have ever been). With regards to jobs, it depends what kind of job and in what capacity. I run a busiess with my OH, and whilst I am not the director, I might not be able to carry on in an offical capacity with this (no one seems to be able to tell me it seems), so whilst I should be able to do day to day things it might make other things, like raising finance for the business, harder. My other job is I'm a teacher. Now whilst it shouldn't matter that I am about to go BR I can see how it might, teaching being a pretty small minded occupation. I will just have to wait and see - I've never had to declare it on a job application or not, but I wouldn't want them at work to find out and if they did they mght tell others in the industry...it's a small world in teaching. Other jobs probably wouldn't be affected depending on the job, perhaps you could tell us what sector its in and we might be able to give personal experience?

On the flipside, it gives you a clean break, which if you are drowning in debt and things aren't going to ever get better can be a useful tool, but imho only one that should be approached if there is no other way out.

If you don't particularly like the idea of going BR (I know I don't )then you could try writing to the agencies trying to get money out of you and do a couple of things. PLEASE note, these are only rough things I have heard floting around and I've put them as a prompt for more info etc, they are not in detail or how they work as I don't know I'm just trying to throw ideas out there to help, so sorry for the lack of detail (or if I've got anything wrong). Check with the charities as above


a) try and raise a Full and Final settlement. You're saying to them I can't afford to pay everything,so here have something which is more than you will get otherwise.
b) write to the original debt people (ie credit card companies) explain the situation and ask for interest to be frozen and agree a monthly payment (even if it's only £1. I heard somewhere they have to accept a reasonable offer of this sort, and if all you have is £1 after nec. bills, that's reasonable. I'm sure someone else will be able to tell you more about the legalities of this.)
c) Go for an IVA through CSSS/CAB/Nationaldebtline etc (DO NOT go to a company that will charge you for an IVA, rip off!!)
d)Go BR

If you are getting harrassing phone calls etc then you can write a letter to the agencies to tell them to stop - it is illegal for them to keep phoning and threatening you if you have done this.
The letter is:

"By Recorded Delivery

Dear Sir,


Your Ref:

Despite my verbal requests that I require ALL communications from your company to be in writing, your telephone calls continue.

This behaviour constitutes harassment; I have stated quite clearly to you that I require ALL communications in writing for future Court use. Do not telephone me again - remove any telephone numbers you hold for me from your systems.

Your telephone calls are in breach of the Office of Fair Trading guidelines. If you continue with them after the receipt of this letter an official complaint, together with a log recording the times and frequency of the calls will be passed both to that office and to the Trading Standards office. For your information note that ALL telephone calls are taped.

This type of debt collection method is contrary to the ‘Administration of Justice Act 1970’ in that it is intended to cause alarm and distress to the recipient. Your methods will not be tolerated. A formal complaint, containing copies of all correspondence including yours, has now been submitted to the relevant authorities. This will be relevant to questions of your fitness to hold a licence under the Consumer Credit Act, whether or not it results in a prosecution.

Take further note that continued telephone calls after the receipt of a request not to call may constitute a criminal offence under Section 127 of the Communications Act 2003.

Communicate in writing and ONLY in writing, your telephone calls will NOT be answered.

HOWEVER, CALLS WILL TRIGGER COMPLAINTS TO THE REGULATORY BODIES.

I trust that I have made myself understood on this matter,

Yours faithfully,

xxxxxx"


This will stop the nasty calls.

By dealing with the debts, contacting the agencies (or asking CAB etc to do this for you) you are showing you want to sort it out and therefore it shouldn't go to courts and baliffs etc. IMHO it is not worth their while taking you to court getting baliffs etc immediately as that costs them money and if they can get it another way they will.

But firstly get the professional advice and try not to worry too much. Whilst it's not my place to say to any one do/don't go BR, I would advise for you to look at it very carefully indeed. You can do a SOA here as well if you want and we can advise on where you might be able to cut back on things to get Debt free without going BR.

Hope that helps - chin up, remember - no-one has died, you have not killed anyone.....:)

seanoff

Thanks Pixie- and I will try and get some professional help.
As I don't have any income at all at the moment I don't even use my bank account but the original question was about it affecting my partner too?
It seems grossly unfair that she should be penalised for anything I carried with me into the relationship?
The debts are years old getting on for 5
Will car insurance for example be a problem?
The question maonly revolves around the affect on my partner as all bills etc are paid by her at the moment- the only thing in my own name really i can think of is car insurance?

BTW what does SOA mean/stand for??

thanks again

betterlatethannever

Hi Seanoff,
an SOA is a statement of affairs It's all you outgoings and incomings.
Try clicking this link for more advice adn help in completing an SOA
http://forums.moneysavingexpert.com/showthread.html?t=107280