help....need info on Bankruptcy

Penny30

another thing what about work....will it matter to them if I'm bankrupt will it affect my job.....i work for a college

peachyprice

I doubt it very much Penny. It's usually only people who work in finance or some civil servants who would have a problem. Unless there's anything about bankruptcy in your contract there's no need to even tell them, and the OR won't tell them either.

Penny30

Thanks to everyone for your advice....i'm gonna look through my options now....i'll keep coming back with more questions I'm sure x

fiveyearplan

I would recommend Coop for banking. I've had my account since November and have had no problems. You could also get a prepaid credit card for places that don't take electron (although I have found only a handful of places don't accept them - my local council for one!) I have a cashplus card and they can be found at https://www.mycashplus.co.uk. Still, I would get the bank account sorted out first.

AS for the BR forms, I found them incredibly difficult to fill in although my BR wasn't as straightforward as I had 2 business so you may find it easier.

maxmycardagain

dalip wrote: »

Welcome
Yes there is still a certain amount of stigma attached but what the heck you find out who your friends are.

i had no friends

or assets

or job, work, money, car, home


i now know dalip.......and capt mainwairing

pass me a rope someone....

december

A belated welcome to the board from me I've found that the actual process of going bankrupt was relatively ok, meaning the OR intervier (so far) and the court process. What hasn't been so easy is the emotions that go with it. The people who mean something to me don't treat me any differently and to be honest other than a couple of people at work, only my close friends and family know anyway.

The stigma which is attached, I've found, is very closely linked to how I feel about being bankrupt. On a good day I can hold my head up high, on a bad day I just want to crawl into bed and stay there. It's all part of the journey I think. I can't say I regret going bankrupt though in all honesty and the good and bad days will pass I'm sure, will become more even and less of a rollercoaster. It's not even been 3 weeks yet so its still early days.

The people on this board are extremely, extremely supportive though and there's always someone around to "listen" to you whether you're feeling happy or a bit sad.

Anyway I went a long way off the point then, apologies

December

Summer1969

Penny30 wrote: »

Hi just wondering if anyone could give me some advice, I've read through a few threads on here
my basic story is.....i've got debts of around £32,000....made up from a £15,000 loan and the rest credit cards....the reason I've got into this mess is I've been using credit to pay off credit and once minmum payments have come out had no money left for food, rent, petrol....so again used credit....I tried juggling cards around for interest free and also putting into one lumps some but again had to resort to credit when no money left.

You story sounds very similar to ours. Also, I have not worked for the past few months due to depression and losing my mum, so our finances spiralled right out of control. We decided that only I would go BR as 80% of debts are in my name and I am not working, so should not get an IPA, and OH's income won't be scrutinized. We did a lot of soul searching but as we are selling our property at the mo and only have a £400 car, BR is definitely the best option for us. We spoke to the CCCS, the NDL and had an appointment with the Debt Specialist at the CAB. And I got LOADS of info and support on here. The forms are filled in and I am ringing the Court tomorrow for a date. Make sure you get as much info as possible and keep asking on here for support. You WILL get through it! xx

dalip

maxmycardagain wrote: »

i had no friends

or assets

or job, work, money, car, home


i now know dalip.?......and capt mainwairing you can be so ungrateful at times max:D

pass me a rope someone....

Yes but think of all the friends you have made on here,some on here are worth ten of the reality sort:rolleyes:

oliviarosejackson

Hi, i hope you dont mind me posting on here, i am still very new to this site.

I am currently 12months in to a 5 year IVA and i have been speaking to someone today and they feel that i was miss sold it. I am 24, i have a 4 year old daughter and i work part time at Tesco. My income from my wages is around £550pm and that is topped up with child benifit and tax credits. I was advised today that BR may have been a better option for me. And i was wondering if there was anyone who could help me by telling me a little more about it. If i would be better going down the BR route or staying within the IVA??

Thanks alot

Waspeze

Hi Olivia, you say you have been advised BR may be better... who advised you and who is your IVA with?
Just wondered coz one of the first things people here will say is to contact CCCS, National Debtline or you local CAB (links above in Dalips sig) for free advice.