Newby in need of help.......

monoped

Having been released from hospital today after having a heart attack, my second. I need help in sorting my debt out, I have creditors knocking on my door, and yes I'm hiding.
I started reading up about bankruptcy last week, and that didn't end well, see above! I definitely need so advice on how to go about about it.


At a rough guess my debts stand at around 25k possibly more as I now know I am probably on record of owning a house, which I haven't lived in for 3 - 4 years. I've tried to sort this mess out, but I aint strong enough. My health before the lastest hiccup isn't good, as I suffer from emphysema, depression and loss of left leg above knee...


I've downloaded the forms from the .gov website and now it says I need £525 to strat the ball rolling!, which I don't have, I am not working haven't for the past few years dues to health reasons, the stress is getting to much, any help would be gratefully appreciated before I lose it again.
Thanks in advance

tigerfeet2006

Hi and welcome to the board.

Your first port of call is to call one or two of the debt charities and get some free and impartial advice. If BR is an option for you then they and us will help and support you through it.

The fees for BR are 705GBP. If you are on benefits then you can get a remission on the OR's fees and will only have to find 525GBP. The debt charities will also help you find ways of getting this money together. There is also a thread on here about finding help. I'll find the link for you.

The second thing is DO NOT PANIC. It is not an easy process but it is straight forward if you do your homework and prepare everything and get all your ducks in a row before petitioning.

Read everything you can on this board, even if you think the thread doesn't apply to you. Ask questions on here. Read, read and read some more. Ask questions and keep reading.

National Debtline: https://www.nationaldebtline.org/
Stepchange: http: http://www.stepchange.org/
CAP: https://capuk.org/ (Don't let the name put you off, you don't need to be a christian and they will offer personal support as well.)
CAB :https://www.citizensadvice.org.uk/

ETA: https://forums.moneysavingexpert.com/discussion/comment/57122643#Comment_57122643 Charities who help with fees.

National_Debtline

Bankruptcy is obviously a big option and tigerfeet2006 is right to suggest you get full, free and independent advice before going down this route, especially if you have a property. Please be aware that assets can be at risk in bankruptcy and this would include any property you are named on. It can be seized and sold as part of the bankruptcy; if your property does have any equity in it and you don’t want to lose it, then bankruptcy is unlikely to be suitable.

With regards to the fee there are some charities and trust funds that can help with the deposit (£525). You can look online at www.turn2us.org.uk and also check what support your fuel supplier may be able to give as some of the big 6 have trust funds you can apply to for help.

Laura
@natdebtline

youngbuck2

First of all, I'm sorry to hear of you recent hospital stay, I hope you are feeling better and wish you well in your recovery.

Secondly, your financial situation is very similar to how mine was pre-bankruptcy - I had a similar amount of debt and also a mortgage on a house I didn't live in (also complicated).

Bankruptcy may not be the only option. Contact one of the main debt charities that can offer advice on this such as StepChange or PayPlan.

Bankruptcy may be a viable option - especially if you are not working and don't have the income to pay in a reasonable amount of time.

In terms of the fee - there are certain charities that you can apply to that will pay the £525 court fee for you. StepChange/PayPlan can advise on this - do you have any arrears with any utility companies (electric or gas etc?) I ask because there are specific charities/fund set up by those companies that can assist in paying for bankruptcy fees for people with debts for utilities.

Good luck. Sorry I can't help more - I'm going through BR myself.