Many Thanks-I think.

savagevixen · 18 March 2007 at 12:54AM

A couple of months ago, I happily cruised around the bargain buys and grabbits sections. Always looking for a bargain, oblivious to the turbulent sea of debt I was sailing on. The loans and stuff were cusionned by an ever increasing overdraft (not at my request-the kindly bank's help for my continuing good customer behaviour) I never really realised how it was all not right, I ignored it and carried on. Consolidation loans to pay of debt collectors from the past and to put towards a car for our large family. (Necessity in these days of 'car seat laws') Even then it was a people carrier for under £4000. Increased loans to clear the overdrafts (again kindly advised by the bank)

Then I happened upon this lovely 'section' (for want of a better word). Having decided to see how we could manage a move abroad I wondered how to pay our debts. I assumed initially I could stay as we were. Then I faced reality. My husband might take months to find secure work. I was advised by Myvesta to consider bankruptcy from abroad.

I began posting on here, somewhat virginal in the matters of BR. And to be honest a little phased and confused. Chatting on here made me re-think, and having a few concerns (as to why we had just had to borrow £1500 of my parents)... CCCS advised DMP or Bankruptcy. Now with the reduced CTC they are advisng token payments/bankruptcy.

To be honest OH and I had a proper, face up to it lightbulb week (not moment.) We are still feeling pretty shaken. To see it all in black and white is so scary.

I cannot thank you enough everyone for your support and giving us the power and knowledge to face up to the reality of our debts. At the moment, they are insurmountable and will continue to be until we do something about them. I think I will call the court on monday, but still would like your advice and support.

The 'I think' in the title is obviously a joke. (Part of me still wishes my head was in the sand....
X

Mike_St_Helens · 18 March 2007 at 12:58AM

savagevixen wrote: »

A couple of months ago, I happily cruised around the bargain buys and grabbits sections. Always looking for a bargain, oblivious to the turbulent sea of debt I was sailing on. The loans and stuff were cusionned by an ever increasing overdraft (not at my request-the kindly bank's help for my continuing good customer behaviour) I never really realised how it was all not right, I ignored it and carried on. Consolidation loans to pay of debt collectors from the past and to put towards a car for our large family. (Necessity in these days of 'car seat laws') Even then it was a people carrier for under £4000. Increased loans to clear the overdrafts (again kindly advised by the bank)

Then I happened upon this lovely 'section' (for want of a better word). Having decided to see how we could manage a move abroad I wondered how to pay our debts. I assumed initially I could stay as we were. Then I faced reality. My husband might take months to find secure work. I was advised by Myvesta to consider bankruptcy from abroad.

I began posting on here, somewhat virginal in the matters of BR. And to be honest a little phased and confused. Chatting on here made me re-think, and having a few concerns (as to why we had just had to borrow £1500 of my parents)... CCCS advised DMP or Bankruptcy. Now with the reduced CTC they are advisng token payments/bankruptcy.

To be honest OH and I had a proper, face up to it lightbulb week (not moment.) We are still feeling pretty shaken. To see it all in black and white is so scary.

I cannot thank you enough everyone for your support and giving us the power and knowledge to face up to the reality of our debts. At the moment, they are insurmountable and will continue to be until we do something about them. I think I will call the court on monday, but still would like your advice and support.

The 'I think' in the title is obviously a joke. (Part of me still wishes my head was in the sand....
X

Everyone on this board is here to help you. Some more than others.

You can be assured that you are certaily not alone.

Welcome & I'm glad your happy !! Its hard to be happy when banruptcy is your option....

Mike

savagevixen · 18 March 2007 at 1:02AM

Not really happy. Not really at all. But relieved to actually be dealing with it sensibly. And grateful for the 'eye opening' we have had. Just wanted you guys to know that I appreciate your answers to my silly worries.

savagevixen · 18 March 2007 at 1:05AM

It wasn't a haha joke, it was a slightly lighthearted title. I guess I am still getting my head round it all. And when we tell the family it will be all much more real. Some will not take it well at all. But we have been scouring the local paper and can't find any info on Br reported.

Mike_St_Helens · 18 March 2007 at 1:30AM

savagevixen wrote: »

It wasn't a haha joke, it was a slightly lighthearted title. I guess I am still getting my head round it all. And when we tell the family it will be all much more real. Some will not take it well at all. But we have been scouring the local paper and can't find any info on Br reported.

You dont have to tell anyone !

Toto · 18 March 2007 at 2:16AM

Remember that none of this has to happen overnight, you have time to get your head around it all. I know that it must seem like the end of the world but it isn't at all, it's a fresh start, a do-over.

Mike is right, you don't have to tell anyone if you don't want to. There is no shame in bankruptcy, there is no stigma anymore, it's just a way to take control of your lives again, control which the banks have had for far too long.

My mum once said to me that 'nothing is forever' even the things that feel life changing really aren't. Everything is an experience which you learn from or choose to ignore, but everything passes in time and this too will pass. You will come out of it debt free, you will have up to a year of being a bit restricted and 6 years of a slapped wrist on your credit file. None of it is very important in the grand scheme of a lifetime is it? It's a blip, one you will take a life lesson from and move on.

So, put your fear to one side and concentrate on the future you are opening up for yourself. One where you can make decisions without the debt hanging over you holding you back. I very much believe that the pre bankruptcy worry of managing the debt is much worse than anything that comes once it's done. Most people will tell you that the court was a breeze and the Official Reciever was professional, non-judgemental and human.

Keep posting your questions and worries here, this board is full of people who have been right where you are, most of them took the bankruptcy route, some of us had to take an alternative but we all understand and are here to help you through it.

xx

Many Thanks-I think.

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