- Joined
- 27 Jul 2005
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- 13,179
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- The Orion Spur
Freelanc3r
Hitman
Joined: Dec 2005
Location: OcUK HQ
Posts: 854
<shakes fist>
Anyone on here declared themselves bankrupt?
- Thread starter Things change I've changed
- Start date
<shakes fist>
I think everyone does this, I would like a BMW M3 but know I haven't got the cash and most likely will not get is for a long time.
It looks like you made sensible choices w.r.t. gadgets with 2nd hand stuff and cheaper phone etc.
I (we) had to cut back spending 8 years ago when we got our first kid and my girlfriend started working part-time and I must say it wasn't fun but what can you do, you have to do it.
Before that I would buy a new GPU/CPU when they came out, now I just buy 2nd hand or when they are much cheaper and tbh I don't care so much about that anymore.
I got myself into a right mess. Ended up feeling really bad over it, and it got even worse when I was out of a job. In fact, I just got off the phone with one company who I owe £388 to (not a massive amount in the context, but kinda in the same boat) and they wanted £97 a month for 4 months. I offered £20, as this is all I can realistically afford to pay them, as other creditors are owed larger amounts, and he brashly said "NO." My response to that was "what the hell am I supposed to do then?", but eventually we agreed on a 12-month plan at £32 a month which is fine with me.
Lloyds are <swearie here>'s. Got into a horrible spiral of charges, they refused to help me for a long period of time then demanded £74 a month off me to start clearing it. I managed 2 payments, then realised it just wasn't happening. Basically I've a debt with them of £1,400, but all amount to overdraft charges, which I think is quite despicable. Tried talking to my branch manager who didn't care, so I wrote to them and they accepted £10 a month and froze the interest on it. You can do it mate, but don't do like I did and sit around moping and hoping it'll all go away, because it only gets worse.
Good luck to you
In the long term, once you've got the debt under control, I would move to somewhere new and try and get yourself some sort of qualification - even if it's just taking an evening class. Take a rubbish retail job if you have to - just grind and think of the paycheck.
You can sort yourself out no problem. I was in a similar situation - I was unemployed, living with my folks, had some CC debt and had just two GCSE's to my name. I'm now 36, have been going to school part-time for the last couple of years, worked horrible retail jobs, but it's paying off - I now have a great full-time job, no debt, a house, a car and a wife....and I live in another country It took a few years, handouts from parents when things were tough, making sacrifices, and making the most of it when Lady Luck smiled on me.....but I got there. You just have to try and make things happen and make the most of any good breaks that come your way.
You can sort yourself out no problem. I was in a similar situation - I was unemployed, living with my folks, had some CC debt and had just two GCSE's to my name. I'm now 36, have been going to school part-time for the last couple of years, worked horrible retail jobs, but it's paying off - I now have a great full-time job, no debt, a house, a car and a wife....and I live in another country
It took a few years, handouts from parents when things were tough, making sacrifices, and making the most of it when Lady Luck smiled on me.....but I got there. You just have to try and make things happen and make the most of any good breaks that come your way.I can guarantee if you work out your income and outgoings (other than debts. IE. Food, rent, minimal clothing) , then split your left over cash in amounts relative to the people you owe. They will have no choice but to accept and you will feel great.
its simple.
go to the CAB ASAP. nothing else needed really.
its simple.
go to the CAB ASAP. nothing else needed really.
The OP who owes £10k - bankruptcy is a crazy option for that amount.
If you handle this correctly and you have help from your mother then you should aim to get full and final settlement of circa £2k. Not everyone on here will agree with this, but this is real a win - win situation as the lender will be happy as they to recover some monies and once the account is closed they have no ongoing costs.
If you handle this correctly and you have help from your mother then you should aim to get full and final settlement of circa £2k. Not everyone on here will agree with this, but this is real a win - win situation as the lender will be happy as they to recover some monies and once the account is closed they have no ongoing costs.
Associate
- Joined
- 12 May 2010
- Posts
- 1,877
- Location
- West Bromwich
I used to owe 25k, a large part of it from a bad business deal in the USA that went sour.
Thought about going bankrupt, and yes, I know it can be tempting to just wash it all away, but the creditors will always be on your case, and 6 years is a long time, you'll be nearly 40, with no prospect of ever getting any sort of credit whatsoever.
I moved back in with my folks for a couple of years, bit the proverbial bullet, and paid a large proportion of it off.
The lads on here are right. 10k in the scheme of owing dough is on the lower end of the scale. I've heard stories of people owing 50, 75, 100k.
The moment you sign any sort of agreement to write anything off, in the short term you'll be better off, but in the long term, thats gonna be haunting you for quite a while...
Your opening paragraph summed it up. We get into debt, it's our fault, and we have to get ourselves out of it. The absolute worse thing you can do is bury your head in the sand, try and run away, or try and wipe it all off. Talk to consumer direct / citizens advice / the companies you owe money too. They're only human, they're not Mafia Dons who are gonna kill you.
Thought about going bankrupt, and yes, I know it can be tempting to just wash it all away, but the creditors will always be on your case, and 6 years is a long time, you'll be nearly 40, with no prospect of ever getting any sort of credit whatsoever.
I moved back in with my folks for a couple of years, bit the proverbial bullet, and paid a large proportion of it off.
The lads on here are right. 10k in the scheme of owing dough is on the lower end of the scale. I've heard stories of people owing 50, 75, 100k.
The moment you sign any sort of agreement to write anything off, in the short term you'll be better off, but in the long term, thats gonna be haunting you for quite a while...
Your opening paragraph summed it up. We get into debt, it's our fault, and we have to get ourselves out of it. The absolute worse thing you can do is bury your head in the sand, try and run away, or try and wipe it all off. Talk to consumer direct / citizens advice / the companies you owe money too. They're only human, they're not Mafia Dons who are gonna kill you.
assuming the OP is still reading this
try www.moneysavingexpert.co.uk
The forums on there have an excellent support network. People on there with obscene amounts of knowledge about this stuff. I'd ask there.
try www.moneysavingexpert.co.uk
The forums on there have an excellent support network. People on there with obscene amounts of knowledge about this stuff. I'd ask there.
Life's what you make it, no point sitting around waiting for it to happen.
Stop feeling sorry for yourself.
I know I sound like I'm on a pedestal here, and you have had some bad luck by the sounds of it, but there is always work out there for people who want it.
Quick little suggestion here.
If you're not doing anything in your evenings.
Are there any local Championship or higher football teams near you?
They are alllllllllways looking for match-day stewards. I work for Colchester United as a steward get 7.70 an hour. It's not much but it gives you an extra 100-150 quid at the end of the month.
Could help maybe making those payments of 20 pounds up to 30 etc.
Stop feeling sorry for yourself.
I know I sound like I'm on a pedestal here, and you have had some bad luck by the sounds of it, but there is always work out there for people who want it.
Quick little suggestion here.
If you're not doing anything in your evenings.
Are there any local Championship or higher football teams near you?
They are alllllllllways looking for match-day stewards. I work for Colchester United as a steward get 7.70 an hour. It's not much but it gives you an extra 100-150 quid at the end of the month.
Could help maybe making those payments of 20 pounds up to 30 etc.
Alls I can say is to get yourself onto the money saving expert forums. I was struggling for a long time with debt and the advise on there was invaluable. Its also nice to talk to people that are in exactly the same boat as you if not worse.
Im now on a debt management plan with payplan and have not looked back. Best thing I've ever done. My reasons for getting in a bit of a pickle finance wise was that I lost my part time job and overtime was cut to zero in my full time job.
Hard times and the stress it put me and my wife under nearly split us up. Money worries and the pressure that comes with it are extremely hard to bear so don't try and do it on your own.
Email in trust if you ever want to chat m8
Im now on a debt management plan with payplan and have not looked back. Best thing I've ever done. My reasons for getting in a bit of a pickle finance wise was that I lost my part time job and overtime was cut to zero in my full time job.
Hard times and the stress it put me and my wife under nearly split us up. Money worries and the pressure that comes with it are extremely hard to bear so don't try and do it on your own.
Email in trust if you ever want to chat m8
- Joined
- 27 Jul 2005
- Posts
- 13,179
- Location
- The Orion Spur
Just rang up the Court House and they informed me that the 'Attachment of Earning Order' has been dismissed 
That is only for part of the debt but as you can imagine I'm very happy and it's a sign that the courts will rule in my favour for a Debt Relief Order, I'm guessing it was dismissed based on my low income and circumstances but at the moment I won't really know the exact details until I receive the documentation through the post.
I am now being dealt with by CCCS who are helping me with the debt relief order as they said that is the best course of action.
Anyway I would just like to say thanks for the kind words and support from members in this thread, I was feeling really down at the time and you all helped a lot, thank you.
<hugs>
That is only for part of the debt but as you can imagine I'm very happy and it's a sign that the courts will rule in my favour for a Debt Relief Order, I'm guessing it was dismissed based on my low income and circumstances but at the moment I won't really know the exact details until I receive the documentation through the post.
I am now being dealt with by CCCS who are helping me with the debt relief order as they said that is the best course of action.
Anyway I would just like to say thanks for the kind words and support from members in this thread, I was feeling really down at the time and you all helped a lot, thank you.
<hugs>
I am now being dealt with by CCCS who are helping me with the debt relief order as they said that is the best course of action.
Anyway I would just like to say thanks for the kind words and support from members in this thread, I was feeling really down at the time and you all helped a lot, thank you.
<hugs>
Good work fella, now go treat yourself to a new gfx card!!
Bit late for that
