Help...i'm in such a mess

tigerfeet2006

Susie, sorry haven't got time to reply at the moment as I HAVE to run out the door or DS will be late for school but just wanted to send you some cyber ((((hugs)))) and to say well done on taking the steps you need to get your life back under control.

blind-as-a-bat_2

stupidsusie wrote: »

Hi, I just wanted to say thanks for all the posts and for all the support, both in terms of gambling / how I feel and also the practical advice.

I spoke to the Insolvency Helpline yesterday and they recommended bankruptcy as the only practical solution. I did ask them about BRO/BRU and they didn't know what I was on about - they just said that BR lasts between 1 and 3 years. I thought you were normally discharged after 1 year but that a BRO/ BRU could last up to 15 years and that payments from income if affordable were made for 3 years. Have I got this wrong?

I know I will get a BRO/BRU, and the ongoing restrictions on the credit side of it doesn't concern me too much because I never want access to credit again. That said the mortgage side would be hard. It's the other restrictions that bother me...my career to date has been in financial services (oh the irony) and I know that BR would seriously affect my chances of getting a new job in that field. The alternatives that I would love to consider are training in law or running my own business....and both of these are affected by BR too. I am on the board of a charity, and I would have to resign that. Finally, as my Dad has dementia I have Power of Attorney over his affairs (i've put safeguards in place to make sure I can never be tempted to use his money - my Mum is joint signatory on all the accounts), again I won't be able to do this if BR.

I have loads of questions about BR......

any idea as to the length of BRO/BRU I might get?How long is a piece of string?, sorry but this is one of those questions that only the OR can answer once he has the details of your case, but you are correct, it can e up to 15yrs but most on the IS website seem to be between 3 and 5yrs unless they are really really bad cases

what would happen if I received a windfall after BR eg inheritance? If it was enough to clear the debts would the BR still stand? What about a BRO/BRU?If you get a windfall after discharge, wich is a maximum of 12 months, then it is yours to keep, the BRO has not effect on that

from blind-as-a-bats post below it seems that all debts are included in the BR even if they haven't yet been 'crystallised' ie negative equity. have I understood that right?As i said that is a simple way of looking at it but yes if the debt was secured pre-BR and then becomes unsecured later it is then classed as a debt provable in BR, whether there is a time limitation on that im not sure, maybe Fermi can clarify that for me:D

would I be better trying to earn enough to keep the house or would the OR say it's too much money from income that could otherwise be used for payments to creditors each month?Again will depend on the OR, and the figures involved so hard to say really

if my unsecured creditors don't accept token payments for now, can they immediately petition to make me bankrupt? They can but i doubt they will as it costs them £750 - £1500 to do it for you so it is rare and only as a last resort as they know there unlikely to get a return for the outlay

i've probably got lots more to ask as well.....but i'll sign off for now.

I'm off to GA tonight, so that's got to be a good start....

Susie

There is a BIG chunk of text regarding how secured debts are treated in Br, in perticular refering houses I will see if i can find it, unless Fermi beats me too it as he usually does:D


Edit:- http://bankruptcy.informe.com/viewtopic.php?t=148 Hmmm Fermi must be having a lie in

Vici

I can't really offer any more advice than everyone else has given, but i just wanted to say well don for posting, it must have taken some real courage. There are many many very helpful, informative and non judgmental peeps on here who will all no doubt, give you as much info as they can. Take care xxx

StressHead

Stupid Susie... I think you should change your name as you're not stupid, you've just made a mistake or two, none of us would be here on this forum if we hadn't done the same so you're not alone. Big hugs... SHx

girlie_2

Hiya Susie. My situation is very similar to yours except i am a little bit ahead of you in that i went bankrupt on Feb 20th so if i can help you in anyway just ask

Girlie xx

sleeplessnights_2

Hi Susie

I just wanted to give you some support, the guys on here are great and will try and help you as much as possible.

Before I went BR in October 07, I was a mess but these guys were brilliant, just keep asking loads of questions and know we are all here to support you!!!

Thinking of you and wishing you lots of strength.:A

Cat xx

stupidsusie

Thanks to everyone

Well i've made good progress towards sorting myself out in the last 24 hours. Last night I went to Gamblers Anonymous. I was really nervous about walking in but they were brilliant. Two of the members immediately took me off for a chat and then I joined the rest of the meeting. I've got a sponsor, and we're meeting on Saturday to talk more about everything. I'm so glad I went - it made me realise that although gambling is a serious addiction / illness, it can be sorted out and it doesn't have to be doom and gloom forever. I am sure there will be tough times ahead with temptation and everything and one good meeting doesn't mean i'm 'cured', but at least i'm on the right path.

And then this morning I had my phone appointment with CCCS. I spoke to a brilliant woman, she was supportive, knew lots and lots and was totally non-judgemental. They've recommended making token payments to creditors for now, as things might change in the next few months (getting a job, lump sum payment etc), but that BR might be the only way forward in the long term.

After the call I realised how exhausted I was (I guess I relaxed a bit for the first time in ages) and fell asleep on the sofa for a few hours.

fermi

Sounds like you've made some serious progress on several levels.:D

It's amazing what the difference is, if you are able to relax even a little bit after having been so stressed for so long.

Scarlett.1974

Hi Susie,

I've only just seen this thread, but I wanted to say a massive well done to you for having the bravery to post your story - that took a lot of guts, it really did.

It sounds like you've made some great progress since your first post Attending the GA meeting and calling CCCS are massive steps and you should be congratulated for that

Oh, and I agree - you should take the 'stupid' out of your name, you're certainly not that

tigerfeet2006

((((hugs)))) Susie. You are doing fantasticly.