We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Scared and unsure
Hi all, finally having recently been diagnosed with PTSD going back 15 years tours of Iraq screwed with my head. I am getting the help I should have done years ago. PTSD side effect means I cannot budget and I make stupid financial decisions.
As off 1530 today I have submitted my bankruptcy application. Haven’t made any payments to credit cards etc. no excuse but I have tried to pay my debts off
What do I do/ tell them ?
Comments
-
RBL is a great source of support for all current and ex- serving personnel and their families. The Official Receivers office is usually straightforward to deal with, but if you are feeling anxious do talk to RBL
https://www.britishlegion.org.uk/get-support/how-we-help/financial-support
1 -
Thank you for the help
0 -
Good luck! This forum is a great support and source of information so keep your chin up.
0 -
You don`t need to tell your creditors anything, or do anything, the OR will be in touch with you shortly, you will have a phone interview with them, they will be wanting to know why you have taken this action, they will simply be fact finding, not looking to apportion any blame, so just be honest with them.
If you have surplus income of £20 or more, you might get a 3 year IPA, apart from that life goes on as normal, your bank account may be frozen for a short time, so prepare by having cash ready for everyday spends.
Apart from that, nothing much will change, after 12 months you will normally be discharged.
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 -
Do you own your home or rent.
Do have have a vehicle?
0 -
I am a lodger so don’t own a house also I have a car on finance (don’t own it until final payment)
0 -
I been formally made bankrupt this morning, do need to do anything with my co op bank account and Monza? Thanks as always for the advice
0 -
As long as you have withdrawn some cash to cover your expenses for the next few weeks, I would say you don't need to do anything. Do you owe money to either bank? if you do then they will probably not let you carry on using your accounts. If not, then chances are Monza will let you carry on once the OR has declared no interest in your account. If you do, then may be worth looking at opening another account (not sure on the time frames of when to do it). Starling were brilliant with me (as was Monza) as I had them ready to go for direct debits and wages etc
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards