bankruptcy

stu1967

Hi looking for advice we currently have debts of thousands really think the only way out is to go bankrupt but trying to find 1500 pound to do it is impossible i suffer from depresssion not just caused by this but other issues too so its difficult to try and deal with it any advice greatly appreciated a little more info we were repossed in 2010 and have a shortfall of 46000 pounds also family credit want 9 thousand also have a medical bill og 6 thousand from 2009 wen i was on holiday was made redundant in 2008 and struggled too find full employment for 12 months thats wen it all started really ialso owe the council 2 grand im at my wits end recieving letters daily had visits from bailiffs

National_Debtline

Hi Stu and welcome to the forum. I'm sorry to hear about your difficulties and while I don't know your full situation, it's understandable that you might want to look at bankruptcy as a way of wiping the slate clean and putting these debts behind you.


I appreciate that the cost of bankruptcy can be a serious obstacle and there's no simple way around that. For now, the most important thing is that we make sure that none of your creditors can cause you serious trouble or distress.


You mention visits from bailiffs - please DO NOT LET THEM IN. There are different types of debts bailiffs can be used for, but it is very rare that they can or will actually use physical force to enter. If it is council tax they're chasing, they definitely cannot force entry to your home to recover this debt.


Any other debts owed to debt collectors and the like should just be kept at arm's length for now. Unless any of the letters you're getting are court papers, it's unlikely that you need to respond to them as an emergency. You may also want to stop any existing payments you are making towards them, if only to help you meet everyday bills and also to save up towards the bankruptcy costs.


You may also want to check out www.turn2us.org.uk for details of extra financial support you may be able to claim - perhaps even help towards bankruptcy costs, who knows?


I think it would really help you to either pop into your local Citizens Advice Bureau for some friendly advice face to face, or contact one of the free advice agencies. We would be very happy to have a chat with you about where you go from here.


Please take a look at our guide to bankruptcy:


https://www.nationaldebtline.org/EW/factsheets/Pages/01%20EW%20Bankruptcy/Default.aspx


Good luck


Dennis
@natdebtline