Any regrets?

LaLaLa34

Hi guys, just a general one for ex bankrupts for anyone thinking about going bankrupt.

Do you regret ever going bankrupt? Not regretting getting into debt, but more so pressing the button?

LisaMarieMMA

I had a DRO approved last week and i can!!!8217;t imagine ever regretting it. My circumstances have changed a lot and there!!!8217;s just no way in hell i!!!8217;d able to make the payments the creditors were expecting me to.

I always have to make a joke about things and i always say i enjoy getting myself there but paying for it after. Like putting on weight. I enjoyed getting myself fat but difficult to shift weight. I enjoyed getting myself into debt because of the nice things i had but not so much after when wasn!!!8217;t able to pay!

roughsea

no regrets at all and now discharged

maxmycardagain

Noooo No regrets......

wasnt my fault, some robbing director of a Ltd Company owed me £18,000 and went bust on me....

i paid all my contractors, i only owed the banks and credit card companies for whom i have no sympathy

srg0916

Absolutely not. Best thing I did was apply. I'm still within my BR as started 16.4.18 and this month is the 2nd payment of my IPA but definately no regrets. I know exactly where I stand, creditors aren't contacting me left, right and centre. The stigma attached to BR is scary and all the stress that leads up to pressing the submit button is alot worse than after. I had a few stresses when getting interviewed and setting up the IPA (mainly the waiting time to find out what;s happening) but now it's all good. I know that I'll get a review at some point but deal with that when it happens. One day at a time and a countdown to a debt free life and even better days once the IPA is finished. My advice to anyone who has took professional advice and BR is the best option for you is to bite the bullet and do it.

Clouds88

My only regret... not doing it sooner! We have been trying for years to shift debt, pay stuff off, going without. I wish I had done it years ago. Even though we would have ended up with an IPA if we did it before (husbands not working atm) then it would be sooo nice knowing one monthly payment for 3 years and the debt is gone.

It has completely changed my outlook on debt, I don!!!8217;t want anything in the future. It!!!8217;s a great wake up call. The stigma attached is obviously scary and I am always thinking what if someone looked me up on the register, anyone could know?!

But I think the pressure of being able to answer the phone now, not worrying about shaving our groceries this week to pay !!!8216;xyz!!!8217; far out weighs the other stuff.

TheGardener

Clouds88 wrote: »

My only regret... not doing it sooner! ….
It has completely changed my outlook on debt....

^^^^This.

I was facing penury into my pension days and the lack of sleep was killing me. I wasn't entirely to blame for my BR but the lessons learned were permanent ones - not even monthly instalments for car insurance these days - everything is up front.

I was so stressed out that I actually have very few memories about my life, family or work at the time I was struggling/sinking -It was a kind of stress related amnesia, but I do remember this forum - spending hours and hours online reading posts and working out what to do - it really was a life/sanity saver.

sourcrates

I have had both IVA and DRO, on both occasions the reasons behind the debt were different, the debts covered by the IVA were due to long term mis-use of credit, and failed consolidation attempts.

I spent 6 years paying that off, I now think going bankrupt would of been a better choice.

The DRO took care of a very large tax credit overpayment, and various other smaller debts, suddenly incurred when my marriage ended, and I simply could not pay it all on my own.

I see a lot of posts where people with enormous amounts of debt are considering Bankruptcy, but are unsure about what to do, then six months later they are posting again, but this time there debt has risen even higher.

Obviously it is not a decision taken lightly, but if it’s the only obvious solution, I would say do not hesitate, get on and do it.

Crowlikethebird

No regrets so far...early days but am sleeping better already and have been facing other areas of my life that I had been too "stuck" (or more likely depressed) to deal with e.g. doing things for my health, getting on top of house work, putting effort into relationships with friends etc etc. Like TheGardener, I also have a fuzzy haze of a memory for the past few months.
Even though the process can be long and stressful at times, (I still don't know if I will have to pay an IPA yet and my bank account is frozen) I don't regret pushing the button. I doubt many people will regret bankruptcy, as it is very much a last resort and not something undertaken lightly or without advice. I suspect the majority of people find it cathartic.

maxmycardagain

https://www.youtube.com/watch?v=Q3Kvu6Kgp88

maxmycardagain

maxmycardagain wrote: »

Noooo No regrets......

wasnt my fault, some robbing director of a Ltd Company owed me £18,000 and went bust on me....

Update... the swine then bought a hotel in Devon and his son opened a florists shop at the same time....