Help please asap up all night worrying

ooops

I had my interview with the reciever yesterday and he asked me how I had spent the money on my cards and loans, and when I said daily living expenses he said he wants me to be more specific. Help please asap

Scarlett.1974

Hi oooops and welcome

I'm not saying this is what you should say, but if the OR were to ask me a similar question the answers would be stuff like:

Food shopping (couldn't afford to use cash as that was being used to service the debts)
Clothing - for me and the children
Essential house purchases - washing machine, tumble dryer etc....
Car expenses - petrol, servicing etc....

Were any of the loans used for consolidation or home improvements or anything like that? I'm finding it easier to account for the loans than the CCs, they were always taken out with a specific purpose in mind, where as the CCs were used (like yourself) for day to day living when I didn't have the actual cash to pay for stuff.

Hope this helps a little.

tigerfeet2006

bumping for the experts.

Richard_S

ooops wrote: »

Hi, I'm new to this site, it seems very supportive.

Oh dear, I had my interview with the reciever yesterday and he asked me how I had spent the money on my cards and loans, and when I said daily living expenses he said he wants me to be more specific. I really don't know as it is going back a few years and my memory is really poor. He is phoning me back today to ask for more details. I just don't know what to say. Any ideas? If he isn't satisfied with my answers will i get a crimnal record? Help please asap

Thanks very very much. (up all night worrying)

Hi oops,

Did you have any personal issues that you could weave into the explanation? Redundandcy, unexpected baby, relationship problems, reduction in wages or income; you'd be quite unique if there wasn't something.

You certainly won't get a criminal record, otherwise we'd all be sat typing from HMP somewhere or other.:eek:

If he's phoning back today then I appreciate you haven't got long, but any information you can give will help come up with a plausible explanation; do you have children, or were you and a partner selff employed? I'll have a go at coming up with something that you may be able to develop.

"I started using credit for the convenience of not having to keep checking the balance on my bank account. I never spent more than I was confident I could repay, and initially I was always able to repay the oustanding amount in full when the card statement(s) arrived.

There were times such as Christmas and birthdays when I probably spent more than I should have but the pressure to keep up appearances obliged me to spend more than I should have. I was still confident that I would be able to clear the outstanding balance(s) over a couple of months, and that credit was just a cushion against unexpected expenditure.

I had an unreliable car that was expensive to maintain / had a drop in income / my partner left me, and that meant that I started to spend more on my card(s) and it was taking longer to clear any outstanding balances.

With the cost of living rising, especially utility bills and the cost of travel I found myself relying more and more on credit to fund my essential living expenditure. When interest was added to the monthly balance it made it even harder to pay significant amounts of the balance, and this situation deteriorated to the point where I was using credit to make monthly payments to my creditors.

The situation just got worse and worse until I realised that I had to do something to stop things getting even worse. That was when I first realised that my only chance to break this circle was to declare bankruptcy"

I'm "shooting in the dark" a bit here, but I hope that gives you some ideas as to why the debts were incurred.

Best regards

Richard

sweeper12

Hi

Richard's "letter" sounds remarkably like the explanation I gave to the OR. I was asked to be more specific when my OR called me and I just couldn't think on my feet that quickly and got into a proper panic. I was sent a letter asking where certain amounts of money had gone and basically, I just sat in a quiet room and saw myself with my cards and how I'd used them - usually taking money off one to pay towards another. It's amazing how the debt spirals when you're living on them and paying bills on them. By the time I had wracked up the debt, I was paying out most of my wages on them and then going back to the borrow cycle, every month. I bet if you sat and wrote down your I&E and included all debts and living expenses, you'd see the shortfall that has led to your situation and the OR should also see that.

Good luck

S x

ooops

:eek: :eek:thanks for that wonderful letter richard, and supportive post sweeper

dalip

Oops
Some of my cc where taken out 17 yrs ago and i could only remember why i took out 1 and that was cause i bought my wedding dress with it.lol I just made it up like "orginally i took it out to take my girls on holiday but then used it for clothes ect". Remember the OR has to write a report to the creditors so he can not put what you have not told him,if you understand what i am trying to say. As others have said just say anything but try writing it down first,thats what i did,so that it did not look like the same answer for every debt. Good luck and let us know how it goes. Dalip

Richard_S

Hi oops,

The O.R isn't really going to be interested in going any further than a couple of years back, unless you were spending money on gambling or laundering cash.:D

Try and view the telephone call as if you were relating your experience to a trusted friend. Explain to the O.R that you're petrified and that you're having difficulty recalling the past in any detail. If you've done nothing wrong, you've got nothing to worry about. If you feel like busrting into tears then just do it.

You've been caught in a debt trap, as have hundreds of thousands of other people. You start off with all the best intentions, you're offered more and more credit so you keep buying little treats; you don't realise how quickly the debts are mounting up.

Interest charges exacerbate the situation, and before you realise you're having to borrow more money to make the repayments on your existing debt.

Please let us know how you get on,

Richard.

ooops

Thanks so much guys!

dalip

oops
Try cutting it down to several points rather than a 2 page essay. I sent a 2 page explanation in with all my other bumf and told OR this. Don't know if he bothered to read it but it also helped me to see when,where and why.Good luck again. Dalip

sweeper12

Hi

I was exactly like you oops - hyperventilating all over the place :eek:

At the end of the day, you can only remember what you can remember and if the OR wants anymore info then they well jolly well have to get it for themselves. I was so flustered on the phone that I could hardly speak and that made me worse cos my voice sounded kind whiney Everyone gets into the debt crisis of robbing Peter to pay Paul and it's impossible to account for where it's all gone. I remember spending last May-January, wondering what was gonna happen next, I was so convinced that I was in trouble but nothing ever happened.

Just do your best and tell the OR that you cannot remember every single thing, I can't flamin remember what I spent last week never mind years ago. Also, tell them that you have suffered with a certain degree of depression due to the stress, I mean, who wouldn't be down, depression causes memory blocks and that's a true fact.

S x