Anyone on here declared themselves bankrupt?

Things change I've changed

Things change I've changed

Things change I've changed

Soldato
Joined
27 Jul 2005
Posts
13,171
Location
The Orion Spur
Things are not looking good atm, hours have been cut at work again, rent continues to increase yearly and debts are growing, Christmas eve I received an 'Attachment of earnings order' which I'm quite worried about tbh.

I'm sure this is something that will be frowned upon but I'm looking for advice on declaring myself bankrupt, basically I'm interested in anyone's experiences of going through such a procedure.

-------------------------------------------------------------

To cut a long story short this is my fault, I don't think anyone in debt can say otherwise, but some bad 'luck' along the way hasn't really helped, about 4 years I was in two full-time jobs renting an apartment with a few CC's and a loan on the go, I lost one job due to the company downsizing and relocating, hours were cut on my second job and then my landlord at the didn't renew my tenancy agreement and re-modernised the apartments and offered the tenants back in at a 60% rent increase, basically from that point things got from bad to worse, I ended up in a room paying through the nose to a private landlord.

I have been looking for other work on and off but down here in Newquay Cornwall the Job situation has been terrible, recently a 'Pound Store' (:() opened up and over 350 people applied which is just crazy.

Basically I'm just looking for a fresh start, these debts are really starting to get me down, my mum has offered to help but I feel guilty about that tbh as she's not exactly flush herself and at the age of 33 I shouldn't really be needing her help.

In total my debts amount to around £10,000

-------------------------------------------------------------

If I'm being honest I'm getting pretty tired now, I feel like I've fought the good fight and I'm losing, 33 living on my own in a room, I'm not normal, I know that, I don't have any qualifications, I don't understand academic teachings, it's like a foreign language to me, the simplest of things I find to hard to grasp, those sums you do with two lines under them, WTF SEROUISLY? how do people comprehend stuff like that, my brain is just not compatible with that ****.

Really not sure what to do tbh, I believe in survival of the fittest, and I'm not one of them unfortunately, it's simple science, I'm a poor calibration of the gene pool, but what do people like us do? how can we be beneficial, we're never going to be successful, more than likely we end up homeless on the streets with a drug or drinking problem.




--------------------------------------------

UPDATE 06/01/11

lowrider007 said:
Just rang up the Court House and they informed me that the 'Attachment of Earning Order' has been dismissed :D

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>

:)
Click to expand...
 
Last edited:
You dont owe enough to get debt help.

If you dont own a house, or an expensive car, declare yourself bankrupt.

I dont think hiding behind the fact you have no qualifications is doing you any good, I dont have any qualifications am only a year older than you and I have managed to have decent jobs, buy houses and not crash and burn.
 
Last edited:
Move back in with your mum, put your earnings towards the debt first and not rent, and get an IVA before declaring bankruptcy.
 
When you talked about debts I thought you were going to name a sum something like £30,000 or more.

On the grand scale of things £10,000 isn't that bad I would say.

First port of call, cut up the cards and talk to your creditors and see what agreement you can come too. If you mum can help, you can always pay her pay interest free maybe?

In my opinion bankruptcy should be the last port of call.
 
atpbx said:
You dont owe enough to get debt help.

If you dont own a house, or an expensive car, declare yourself bankrupt.
Click to expand...

That is the easy way out I suppose. A friend did that after uni after racking up all kinds of credit card debt, with no house, no car, just the Masters certificate that no one can take away. He did it with no guilty conscience even though he could afford the repayments.
 
lowrider007 said:
Newquay Cornwall
Click to expand...

Cornwall is a black hole for jobs. Any scope for moving at some point?

lowrider007 said:
If I'm being honest I'm getting pretty tired now, I feel like I've fought the good fight and I'm losing, 33 living on my own in a room, I'm not normal, I know that, I don't have any qualifications, I don't understand academic teachings, it's like a foreign language to me, the simplest of things I find to hard to grasp, those sums you do with two lines under them, WTF SEROUISLY? how do people comprehend stuff like that, my brain is just not compatible with that ****.
Click to expand...

Do you mean literally no qualifications? Most jobs will ask for at least GCSE maths and English, so it would be worth studying for them at some point if you can at all manage it. Are you dyslexic or discalculic? That could explain some difficulties. You should be able to find some courses that can help you out with the stuff you struggle with. Try asking at the job centre or a local college - they should be able to point you in the right direction.

lowrider007 said:
Really not sure what to do tbh, I believe in survival of the fittest, and I'm not one of them unfortunately, it's simple science, I'm a poor calibration of the gene pool, but what do people like us do? how can we be beneficial, we're never going to be successful, more than likely we end up homeless on the streets with a drug or drinking problem.
Click to expand...

You can stop talking like that for starters. Don't give up on yourself and don't talk yourself down. Everyone is capable of doing something worthwhile and useful if they want to.
 
Raymond Lin said:
That is the easy way out I suppose. A friend did that after uni after racking up all kinds of credit card debt, with no house, no car, just the Masters certificate that no one can take away. He did it with no guilty conscience even though he could afford the repayments.
Click to expand...

Thats quite a bit different to being a tennant with 2 full time jobs, paying their way in society.

lowrider - have a look at CCCS, they might be able to advise you on the best steps to take.
 
Definitely not worth going bankrupt for a mere 10k in my opinion. Don't get fooled by those IVA things either. Write to all of your creditors and explain. Offer them token payments until you get back to work.
 
Thanks for the rapid feedback, looking into IVA, never heard of one of them before, also got CCCS and National Debt-line up tabbed up on my browser although they don't reopen for telephone advice until the New Year they are very informative.

In regards to moving,

I have been thinking about moving back to my place of birth, (High Wycombe in Bucks) as like it has been stated Newquay/Cornwall is really bad on the job front.

Also yes I have been told that I have dyslexia but I'm not sure tbh, I know dyslexics that can understand a lot more than I can and struggle much less.

I know 10,000 might not sound a lot to some people but to me that is more than a years wages atm.
 
Last edited:
lowrider007 said:
I know 10,000 might not sound a lot to some people but to me that is more than a years wages atm.
Click to expand...

Which is exactly the problem here, a lot of people will be like 'its only £10k' as to them its something that can be managed alongside their current out goings. However, if that £10k means more than a years wage, at a crazy rate, alongside other living costs then it might as well be £10m as its equally unpayable.
 
hello

10k is alright, what you need to do is stop it becoming 20k, speak to the CAB and one of the debt management charities, they will help you negotiate a sensible repayment schedule and makes sure the interest rate isn't daft.

Just to emphasize, you need to adjust your life so that you live within your means, let your mum help you, but make sure it doesn't cause her hardship.

Living with your mum is fine these days, the cost of renting or buying is ridiculous.

good luck.
 
Have you had a County Court Judgement (CCJ) against you for these debts ? Is the debt in the hands of a debt collector ? If they haven't taken you to Court then they can't get an attachment of Earnings Order.
Do you have any Payment Protection Insurance (PPI) that you could claim back against the debt ? It will show up as 'insurance premium' or similar on a credit card statement.

P.S Debt collectors love to use scare tactics. They don't have any legal powers whatsoever so don't be scared by them.
 
You seem bright enough to be honest. Not every worthwhile job requires a good maths brain etc.

I'd maybe advise that as well as looking into debt management and the help you can get you consider booking yourself in with your GP in the new year and have a chat about the way you're feeling.
 
First thing I'd do is get out of that flat - either find somewhere cheaper to live, or ask your parents if you can live with them - thus releasing your rent money.

Secondly, I'd look to move out of Cornwall, if the lack of jobs is really so severe.

Thirdly, enquire about Adult courses - some adult courses are tailored to dislexic/discalculic/dispraxic adults, and you'll find some genuine help.

Fourthly, chin up. It's hard going now, and it's going to be hard going for a while - but you need to "think" yourself out of the rut.

I really hope things get better for you :)
 
Declaring bankruptcy before even writing to your creditors is a foolish move. There's a chance they may be sympathetic and allow you to pay back token payments (few quid a month) with frozen interest for a while until you sort yourself out. After a couple of years if you've managed to save some cash you can try to offer them a "full and final settlement" for a fraction of the original debt.

If you declare bankruptcy now, what's to stop this from happening all over again? You are able to type without using text speak which puts you at an advantage over many others already.

P.S Debt collectors love to use scare tactics. They don't have any legal powers whatsoever so don't be scared by them.
Click to expand...

exactly.
 
You must log in or register to reply here.
Back
Top Bottom