Hi & help ! Just need reassuring

uselesswithcash_2

Hi

Lovely people on main site directed me here. Am about to declare myself bankrupt and am just a bit tense. Know it has to be done as can't maintain my IVA, and it can't be reduced any further. Just feel really scared. Am a tenant so not much to lose, and my landlord is ok with the decision. I know my bank account will be frozen, but what happens about my bills? Live on tax credits mainly as salary all goes on rent etc. Bank account is already a basic, so isn't overdrawn, and have no credit/debit cards any way but don't know wether to file the form now and bite the bullet, or wait till next monts dds come out. Should I cancel them all and arrange my salary to go into a relatives account and pay from there? Don't know the protocol and don't want to get in more trouble than I already am. Apparently it will be up to 3 weeks after filing before the OR contacts me. Stressing and failing to see the bigger picture here. Any recommendations? Also, will bailiffs raid the house and take clothers/kids toys etc as relatives have warned me? I thought not but now I'm worried. Also can't believe i fell for the IVA thing. It began in Septye 06 and I have paid in nearly £4K but my creditors haven't had any money yet as it has all gone on fees. Is this normal? Should I negotiate direct with my creditors instead of bankruptcy - owe £32K and earn a lot less:eek:

tigerfeet2006

Hi and welcome to the board.

The first thing you should do is contact one of the debt charities and talk about your options. If they advise bankruptcy then we can help support you and help with any questions you have with filling out your forms and doing your I&E. You have to get professional advice as one of the questions you are asked is have you taken it.

Numbers in my signature.

EDIT: yOU HAVE HAD SOME REPLIES IN YOUR ORIGINAL POST WHICH WAS MOVED ACROSS FROM dfw.
http://forums.moneysavingexpert.com/showthread.html?t=762419