Advice needed please

devonsdreamer

I am completeing my forms online to apply for bankruptcy, I am stuck on a few questions:

when I was last unable to pay: I havent missed payments yet as I have been able to juggle but I have no room to juggle any more, I am unable to afford payments so do I wait untill I have missed payments or work out when I had so much debt I couldnt afford it. (although I have only just recently realised it) Only one creditor has contacted me as yet regarding the money I owe( they still continue to send me loan applications even though I have explained my situation)

also:

Reason for not having enough money:
simple our outgoings are more than our income, I have taken over the care of my niece but this is not the reason for my debt but the extra stress i "needed" to realise I can afford to live. I dont know how to explain - "i borrowed more than I can afford to pay back" and have been living on my credit cards because once i payed all my bill i had no money left for food.

I am also worried because we sold our property 4 years ago to relocate and pay off debt.What affect may this have on my application. we had approx 37,000 left from the sale (i think we used some of this to pay debts) and this has been spent (wasted?!) as well as acruing all this debt-

I can see how irresponsible I have been with my money NOW. :mad:

Any advice please

devonsdreamer

Yet another question:

My children have bank accounts which also have my name on do I declare these in the bank account section.
They are not my accounts and my children have been saving money since birth will they lose thier money?

debt_doctor

Dont panic Devon !

Many people have been in a similar position. I dont know enough about your circumstances to tell you what to put on the form. You should get some debt charity help before you fill in the forms.

It is best to just tell it how it was really. Often there are things that caused or triggered thedebt spiral; unemployment, sicness, accident, depression, caring duties,relationship breakdown, creditors extortionate charges etc

Best

DD

rog2

devonsdreamer wrote: »

Yet another question:

My children have bank accounts which also have my name on do I declare these in the bank account section.
They are not my accounts and my children have been saving money since birth will they lose thier money?

Your children's accounts should be of no interest to OR. I, personally, would NOT declare them, but would write all details down on a separate piece of paper and ask the OR at your interview.

devonsdreamer

Rog: Thank you. I would hate for them to lose the money they have saved.

DD-Guess I am having a bit of a moment! I have recently spoken with payplan and cccs and national debt, they all suggested my only option was Bk. I didnt realise how difficult the form would be-I will ask for some help re the forms. On reflection I see what has triggered some of my spending behaviours will be quite hard to explain.

Thank you both again