Newbie advice - Debtline advised bankruptcy - best option??

BeckyD_2

Had meltdown yesterday. Wanted to buy xmas presents but realised had nothing in my account. Finally realised after years of borrowing too much and spending too much that I have lived WAY BEYOND my means and I am now paying for my own stupidity. So, I totted up how much I owed in total, how much money was actually coming out of my account every month, how much I needed to live on and pay for child care, travel, etc and how much I earn .... and the figures terrifed me:
I owe ... between loans, credit cards, store cards etc £35,000
Every month my outgoings total £1800 and I earn £1100. I owe family thousands and yesterday was a real wake up call.

So thanks to this site, I found the number for the Debtline people .. they went through many options with me but agreed that bankruptcy would probably be the best solution given how much I owe and earn. :eek: This was like a massive weight had been lifted from my shoulders ... it terrifies me that after this I won't be able to get a credit card or a loan but to be honest with you ... I can't be trusted with them, I've demonstrated that by getting myself into the mess I'm in now so not being able to get any credit will be the best thing for me.

My husband has been great and has said this could be the fresh start we need. I lie awake at night worrying about money butknowing that NEXT christmas will be better is already a tonic.

Just wanted to know from people who have gone through a BR - is there life the other end??? I need assurance before I commit myself to this path... I do online shopping, basically because i spend much less on groceries this way because I'm not tempted by shiny packaging to buy things we don't need. How hard is it to get a switch card with a basic bank account. Not having one would be a BIG problem.

Please - someone tell me there is life after BR???

Richard_S

Hi BeckyD,

There certainly is life after bankruptcy.

You've posted this Thread in the wrong section; there's a sub Forum called "Bankruptcy and Living With It".

It's at the top of the DFW front page; copy and paste it across and then delete this thread.

Regards

Richard