Please help im terrified

Aprri33 · 28 April 2018 at 1:17PM

Hi. First post. Desperate for advice.
Last year, over the course of around 9 months i managed to rack up 8k of debt. Im a stay at home mother with no job. I did this by lying on credit applications. I put that i earned around 40- 50k (my husband earns 35k, i earn nothing). At the time i didnt see it as lying...i told myself that my husbands income combined with what i would earn "when i get a job" would come to that. Obviously...i never got that job i wanted and my husband is in an iva so we dont actually get much of that 35k anyway.

Im currently applying for a dro. Payment will go in next week. Im absolutley terrified i will either a)not be approved b) it will be revoked when they figure out i wasnt earning 50k or c) i will go to prison.

I have children. Babies. Im a good person i dont know why i even took out the credit...it all went on xmas and my kids. I just wanted them to have a good life and ive just totally messed everything up. At the time it didnt feel like lying...it just felt like..i dont even know.

I cant go to prison. Im so so scared i cant sleep or eat and im a total mess. I wish i could just pay the 8k off but i cant...i have no one who can lend me it or pay it for me. A dro is my only option. I cant afford bankrupcy.

I dont know what to do.

BorisThomson · 28 April 2018 at 1:23PM

You won't go to prison.

You did lie, and your reasons will not wash. Nor will "I'm a good person", I've no doubt that you are but that doesn't change what you did.

You need to be honest when applying for the DRO. It won't necessarily mean you are refused, but any debt arising from fraudulent actions will not be written off at the end of the DRO.

You don't make children happy through money. Speak to your GP about counselling to address any other issues in your life.

sourcrates · 28 April 2018 at 2:18PM

Lying on a credit application can have serious consequences.

Applying for a DRO will open your application to scrutiny, and if the loans are found to be fraudulent applications, they will not be included in your DRO.

8k is not a hugh amount, i would say its best not to apply for the DRO in the circumstances you describe, as there is a good chance you will be found out, your last two years history are looked at, and if no evidence of income is there, questions are likely to be asked.

Your best option is to try and find work, and pay what you can, when you can, write and tell the creditors you have lost your job, or words to that effect, as it appears you have no assets or job, there is nothing really they can do to you, and your secret will remain a secret.

Please help im terrified

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