Help pregnant and in debt so worried :'(

Tinkerbell-25

Hello

This is my first post as have only just joined today.. I've only just found that i'm pregnant which was very unexpected!

Now i'm so worried about my debts and how i'm going to pay them! The thing is me and my partner only moved out of a private rent flat this feb gone and moved in with his parents so that we could sort out our debts with loans and credit cards ect as we wonted to be debt free so could then start saving to buy a house and then get married but of course things have now changed but i just don't know what to do for the best!

I'm being told that i will need to be made bankrupt! But I really don't wont to go down that road! As I don't wont to lose my bank a/c ect

I mean is there no other way around this? ie can't i pay less on my debts while i'm on the 52 weeks maternity? As i will return to work after then hopefully full time!

The thing is i know i'm in a lot of debt i think it's more then £18,000 not sure as to scaried to check! But i've never missed payments and also may more then then asked minimum monthly repayments..

PLEASE some1 help me i'm so worried and scaried about what will happen and feeling so guilty for not be able to be happy and worried free about being pregnant

Kind Regards

Lisa

Waspeze

Tinkerbell-25 wrote: »

I'm being told that i will need to be made bankrupt! But I really don't wont to go down that road! As I don't wont to lose my bank a/c ect

I can't advise on the other parts but two things.. first off, who advised you to go bankrupt? have you spoken to one of the debt charities (cccs, cab or national debtline)

Secondly, if you did go bankrupt are you worried about losing your bank account or a bank account? You are perfectly entitled to a bank account if your bankrupt, you just can't get credit on it (i've got a coop one with a visa electron, dd's, so's and internet banking)

Waspeze

Just to add... hello and welcome

(realised i was a bit blunt on my first post ... soz!!)

fermi

If you can potentially return to work full time, then I can't see why you would have to go bankrupt.

If you are forced to make less than the contractual minimum payments on your debts for a time, then you would be best advised to talk to the organisations in my signature so that they can help you cope with the pressure that your creditors would put you under.

Going bankrupt would be far from inevitable though.

Burlesque_Babe

hi tinkerbell

I know it's a lot to think about, but the first thing is to look at your current situation and pop up a Statement of Affairs (SOA)

This link has everything in it for starting onyour debt free journey.

http://forums.moneysavingexpert.com/showthread.html?t=562271

if you click on the link about

'Southern Scouser''s Help for First Time Posters

you can look to put together your current situation and post it on the thread. Everyone can then see where we can help until you go on maternity leave and how to plan for the cut in money whilst you're off.

Who has said you need to go bankrupt? Have you spoke to the CCCS or maybe National Debtline? It may not have to happen, and, even if it does, there are basic bank accounts out there those made bankrupt can operate.

I think that's enough to start you off with

Oh, and congratulations :T there is probably never a 'good' time to get pregnant, so please look to enjoy every second of it, we can help you with the financial side.

angeldiva

keren29 wrote: »

Oh, and congratulations :T there is probably never a 'good' time to get pregnant, so please look to enjoy every second of it, we can help you with the financial side.

I just wanted to say Keren that was a lovely post and I totally agree.

Tinkerbell-25 dont worry you are in good hands, keep posting here and everyone will help you get sorted

poppyg_2

Welcome and congratulations Tinkerbell

Just to echo what others have said, i.e. who has said you will have to go bankrupt? There are a lot of people on here with worst debts who are coping via DMPs and such like

If you post up an SOA I'm sure people could help

Tinkerbell-25

Thank you every one for replying... So i'm a care assistant so out on the road alot so slow in replys sorry..

I spoke with Citizens Advice about my worry's and they said that bankrupt would be the only way forward for me.... Plus i'm seeing my aunt next week who's un accountant and from quick call she said the same about being made bankrupt which will take up to 12 months to do then 5 yrs plus with no credit then as i understand it i'll have problems when me and my partner wont to get married, buy a house and bank cards ect?

ok i've taken note that you all need to know my income and outgoings so here it goes!

Only income:-
£1079.13 a month (but some times a little more or less cos of job)

Out going:-
MBNA £106.11 minimum payment *CREDIT OWED £4,716.02 AS OF MAY 08
HALIFAX CARD £112.67 minimum payment * CREDIT OWED £5,889.04 AS OF MAY 08
Egg £21.37 minimum payment *CREDIT OWED £802.24 AS OF MAY 08
LOAN 1 £259.22 a month *Loan taken out Jan 05 over 72 monthly payment
LOAN 2 £134.57 a month *Loan taken out March 07 over 86 monthly payments
Board money £75.00 a month to partners dad for living there
Moblie £90.00 a month (my mob & partners as he pays for my car!)
Petrol £100.00 a month needed for job
Plus i've a £900.00 overdraft to payback to bank! So wage go in and gone!!!

PLS note for for my credit cards i don't pay the minimum payments! Ie this month i paid £250.00 on halifax, £110.00 on mbna and £60.00 on egg.....

Sorry hope this is what u need to know?

RAS

Hiya

Is all this debt in your name only?

Tinkerbell-25

yes all debt i just listed is all in my name only.... I've still got to sit down with my partner to get all details on his debt which are in his name...

RAS

Hi

The issue would have been that any joint debt would become the sole responsibility of your partner if you went BK. Since you have none, it is not a problem.