Urgently need advice. Considering suicide :(

edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
50 replies 7.9K views
ThisSucksThisSucks Forumite
24 Posts
edited 30 November -1 at 1:00AM in Bankruptcy & Living With It
Following serious mental health issues that have had me in and out of hospital for the past year, I fell into serious rental arrears. My partner left me facing the entire rent alone and without an income.
Fast-forward.... I was just starting to get back on my feet in terms of my health. Moved into a new, affordable property. My support worker had been helping me come up with a repayment plan for the rental arrears on the old place. Now received a "Statutory Demand" from the property company at the old place telling me they are applying to make me bankrupt.

I know absolutely nothing about bankruptcy. Can anyone let me know how it would affect my life and what I should do next?

I'm on virtually no income at all....as I am still not well enough to go back to my old job. I can only just barely afford to eat and keep utilities on. I don't own a car, property or any assets.

What would anyone advise doing next? The amount owed is around £7,000.

If I am made bankrupt, will they take the clothes off my back?

How would an IVA differ and would that be something I could request instead?
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Replies

  • jdvhsullyjdvhsully Forumite
    105 Posts
    Part of the Furniture 10 Posts Combo Breaker
    Please do not consider suicide, as no problem cannot be that big or worth that action.

    Contact the Samaritans for mental health support.

    Someone more knowledgeable will be able to advise re the finances.

    Good luck
  • newbie1980newbie1980 Forumite
    2K Posts
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    ThisSucks wrote: »
    Following serious mental health issues that have had me in and out of hospital for the past year, I fell into serious rental arrears. My partner left me facing the entire rent alone and without an income.
    Fast-forward.... I was just starting to get back on my feet in terms of my health. Moved into a new, affordable property. My support worker had been helping me come up with a repayment plan for the rental arrears on the old place. Now received a "Statutory Demand" from the property company at the old place telling me they are applying to make me bankrupt.

    I know absolutely nothing about bankruptcy. Can anyone let me know how it would affect my life and what I should do next?

    I'm on virtually no income at all....as I am still not well enough to go back to my old job. I can only just barely afford to eat and keep utilities on. I don't own a car, property or any assets.

    What would anyone advise doing next? The amount owed is around £7,000.

    If I am made bankrupt, will they take the clothes off my back?

    How would an IVA differ and would that be something I could request instead?

    bancruptcy wont really affect you too much unless you want to borrow in the near future

    speak to the right people and they will help you

    suicide is not the way at all People around you will be devestated just go and talk to them im sure they will help all they can
  • Please speak to Samaritans they can offer so much help and support. Calls are free 24/7 on 116 123

    As for Bankruptcy advice, contact your local Citizens Advice Bureau. Some debts can be written off if you were seriously unwell at the time. I have impulsive spending issues caused by severe mental health issues and have had some debt written off as it was caused by my illness. Your GP or CPN would be able to help you if that is an option.

    I've been suicidal, and I know what its like, but please talk to Samaritans, they saved my life.
  • Thanks for your advice. I've spoken to the Samaritans in the past and they are amazing. However, I really just want my life back and to be able to know I have a future. That's why I'm considering suicide. I don't WANT to die at all. I just need to know if I can deal with this latest setback and how. All Samaritans will do is tell me not to kill myself.
    I'm a point in life where I've been kicked in the teeth sooooooo many times that I'm not sure I can bounce back this time. However, I do want to. I'm hoping to get information on how to tackle this and to find out whether bankruptcy is the end of the world. I have visions of men breaking into my home and seizing the clothes off my back.
  • ACGACG Forumite
    21.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
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    They will not take the clothes off your back or from your cupboard.

    I can not offer much help for the bankruptcy but I can say that as a mortgage broker who specialises in helping those with bad credit, I regularly see people who have been bankrupt 3-4 years down the line and it is all just a distant memory. It all hits the fan, but then it goes away and you move on. It will affect you for up to 6 years, may be longer but the more historic it becomes, the less of a problem it is.

    Certainly not worth killing yourself over.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • I've just been reading up on this and it's not clear why the property company would choose this course of action. They're aware I've been hospitalised and have no income. I have no assets at all, not even a used car. From what I've read you get discharged from bankruptcy after 12 months, during which time the property company would probably not have received any money from me at all. And it would cost them something like £2000 to get the bankruptcy order.
    So how does this serve them?
  • Hi there. Everything you have said in your last post is right. If you were to be made bankrupt your debt would be written off and it would cost them money so it makes no sense. Nationaldebtline.org has a fact sheet about statutory demands before bankruptcy and it does say that some creditors send the demand as a cheap way to try to force you into finding some way to pay them back more quickly. There is a word for these people but the rules of this forum don't allow bad language.

    Please stay calm (easy for me to say, I know) and get some free advice. I found National Debtline and Citizens Advice really helpful. These people are there for our service and know all the tricks that creditors will try and also the best way to proceed against them. There are times when life just seems to throw things at you but suicide is never the answer. There is always a way out and you will come through this with the right advice. Good luck.
  • Thanks for your reply. It means a lot. I'm very much alone in this and in a dreadful state

    I will call these debt hotlines ASAP.

    What I would hope to be able to do is repay the debt without being made bankrupt. And as I get back on my feet obviously I would be able to repay it quicker.

    I also just realised there's still 6 weeks rent as deposit held by one of those deposit companies. I was to out of it to even get it released to the property company or whatever. So that will reduce the debt a bit.

    I really hope they don't make me bankrupt just because they are horrible people (they ARE pretty horrible). But it's not in their financial interests to do so, so I doubt they will go ahead with it if I am able to get legal advice and set up a payment plan.

    I also read something about a mediation service. But it seems that might be quite costly.
  • TheGardenerTheGardener Forumite
    3K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    How are you feeling this morning? Firstly - get some support for your mental health - do you have access to a service that can help and talk to you? Secondly - there is no such thing as a money or debt problem that doesn't have a solution.

    Other posters are right - its probably a scare tactic and the reality is it will cost them more to make you BR. However, BR is not the end of the world - in fact for many it is a godsend. If you have no assets and a low income and you are not job hunting for a job in the financial sector or the police then BR or a DRO might actually be a sensible way to go to remove the stress of debt given your fragile state at the moment.
  • micky2phonesmicky2phones Forumite
    485 Posts
    Eighth Anniversary 100 Posts Combo Breaker
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    ThisSucks wrote: »
    I've just been reading up on this and it's not clear why the property company would choose this course of action. They're aware I've been hospitalised and have no income. I have no assets at all, not even a used car. From what I've read you get discharged from bankruptcy after 12 months, during which time the property company would probably not have received any money from me at all. And it would cost them something like £2000 to get the bankruptcy order.
    So how does this serve them?

    Hi, IMO they maybe trying to force you to pay thus the bankruptcy threat as you say it will cost them money.

    As you say you have no income so they wont get any money.

    Please dont think of taking your own life
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