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Considering Bankruptcy - So scared :(
Comments
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I have another question if anyone is able to help me please:
About a year ago, my mum paid off my loan of approx £11,000 but my debts have still continued to spiral out of control. Is this going to be frowned upon? I have seen it mentioned that it might be classed as 'favouring a lender'. Of course it wasn't, I assumed that my debt problems were going to get better but then I moved in to a new house and other stuff. Obviously at the time I had no idea I would be heading for bankruptcy. What might happen in this case?
I must admit, some of my debts are due to gambling but not the majority or anything. I will be as opena dn honest as I can. I just dont want to end in prison for anything like fraud (even though I dont think I have committed fraud or anything) :-/
I'm just finding this all so stressful and scary - I want to get the ball rolling but I go on holiday in 2 weeks (paid for by my parents might I add due to the stressful year we have all had).
Just dont really know where to start. Literally living off credit at the mo
Thanks in advance xxx0 -
Just be honest with the OR thats all you can do.
It may be questioned, but as long as you answer truthfully, you should be ok.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Moos_Mummy wrote: »About a year ago, my mum paid off my loan of approx £11,000 but my debts have still continued to spiral out of control. Is this going to be frowned upon? I have seen it mentioned that it might be classed as 'favouring a lender'. Of course it wasn't, I assumed that my debt problems were going to get better but then I moved in to a new house and other stuff. Obviously at the time I had no idea I would be heading for bankruptcy. What might happen in this case?
You didn't "favour a lender", your Mum did and she can do what she likes. It would have possibly been a different matter if you had paid off the loan, but you didn't. Don't worry about this.BBC WatchDog “if you are struggling with an unfair parking charge do get in touch”
Please then tell us here that you have done so.0 -
You didn't "favour a lender", your Mum did and she can do what she likes. It would have possibly been a different matter if you had paid off the loan, but you didn't. Don't worry about this.
Thanks Mouse007, I'm starting to feel a lot more positive and less scared about declaring myself bankrupt.
Thanks to everyone that has replied! xxx0
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