Going bankrupt. Need advise on budgeting

National_Debtline

Man_chester wrote: »

I have given it a lot of thoguhts, and some friends telling me not to do it as well as family. but like I look at it, I am not living at the moment.

I'm sure your friends and family mean well, but you have to do what is best for you. They may be advising against BR because they have heard this or that about its effects - you need to make sure your choices are based on facts rather than opinions.


Dennis
@natdebtline

Man_chester

I have received the documents to open a cash minder account with the coop so will be sending them off tomorrow. I am drowning in debt and see no other way. Getting a mortgage is the last thing on my mind. I want to start living in my means and keep to it. Credit got me in this mess to begin with. So I will be doing this for myself. There is no other way, as If I was to keep paying, I will be missing payment, getting charged added on to the already huge debt, and noting to life off which will be re sorting to payday loans o get by, and would not be able to pay them back. I'm hoping that they will treat me like a human being and not a joke of a person. I put my hands up I got myself into this mess by being too generous and ex's taking advantage of that making me take loans out in my name and doing a runner after a few months. Lesson learnt there I tell you.

elljay

Good for you for taking control. You can move forward now. Keep us posted on how you get on, we've all got experience of this and can help a lot.

davidgmmafan

If your have a negative figure on your budget you need to look at that. Can meals at work be replaced with packed lunches (even if the the £50 figure is accepted by the OR).


Re the electricity figure presumably you are all electric and have no mains gas? If so it looks perfectly reasonable.


What sort of hair cut do you have? Can you or a friend do it yourself? I am just making suggestions to stretch the money. Nobody is going to query money for haircuts unless it is a lot, but if you can save that money you can use this for essential of better spending elsewhere.


You will not be put on the process, it is mainly an administrative process. They would expect you to have had advice which you have. Sometimes it IS the best option and advice not to do it comes from well meaning folk who don't really know much about bankruptcy.