Help

[PlanB]

Re: Help

Still looking for the opinion on bankruptcy, What bills are excluded as I might as well cover as much as I can

Have a read of this thread which is full of facts and information which you'll find helpful http://forums.all-about-debt.co.uk/s...ull=1#post1224

[Lee72]

Re: Help

Hi PlanB and thank you for what seems to be a very considered response.

I don't know why I put homeowner on my profile page but it I am not. Maybe wishful thinking

PDL's ? What are they? My loans and credit cards are what I posted before. I tried to get myself out of a mess by consolidating but that didn't work . I think I was being unfair to blame my family, after all it was me who spent the money because it pleased me to buy them things they wanted . I have realised that the kids need to learn the value of money so no will not kill them . I have finally , with help talked to my wife who is now full of guilt but you don't need to hear my life story.

I have looked at DMP's and spoken to a few but it will take years to pay them all off . Maybe it's cheating but I just want them to go away now

I have looked at some of the info on the link you posted thank you for that, there is a lot to take in. I will try to read it all as soon as i can.

[Lee72]

Re: Help

Oh I am thick
PDL= paydayloan I think that's right. No I do not have any of those.

[PlanB]

Re: Help

Maybe it's cheating but I just want them to go away now.

BR is not cheating at all. You just need to go into it with your eyes wide open.

Read Fiscalfool's diary to experience what it's like. He went BR and posted up a blow by blow account of his progress. It's quite inspirational and full of dignity.

http://forums.all-about-debt.co.uk/s...l=1#post126887

[SXGuy]

Re: Help

As PlanB has said, BR is not cheating, and its not shamefull. Sometimes its the best outcome for someone. I know it was for me. Was such a relief to finally get the creditor off my back. Yes it was only a few debts, but they amounted to 100's of thousands, long story I wont bore you with. There was no way id ever pay it back, nor would I have wanted to in all honesty. I just wanted it all to go away, like you say, and with a little effort it did.

Its daunting at first, visiting the insolvency service. Even more so sitting before a judge, however, it all went pretty smooth. I was in court for no more than 20 minutes, the judge looked at my case and simply said "oh yes, theres no way you will be able to pay this back, bankruptcy granted" and that was it!

[philnicandamy]

Re: Help

Some more information here as well

http://forums.all-about-debt.co.uk/s...ankruptcy-Help


I went bankrupt over 6yrs ago now only option open to me had no other means of paying my small ammount of debt....I felt the same as you feel but it's really not than bad TBH the court day is a little like a post office queue I saw a district judge who said she would sign my bankruptcy paperwork IF i promised her to go away get better and enjoy life afterwards.

[Lee72]

Re: Help

Hello again and sorry for the delay . I went through the ignore mode for a while and now have taken a deep breath and started dealing with it again. I have spoken to National debt line and we have worked out a budget . I am just getting letters together with their help to send to my creditors with small repayment offers. It might be enough to keep the wolf from the door

[Never-In-Doubt]

Re: Help

Ok good luck.

[Lee72]

Re: Help

Well an update. I have had a few letters back 3 of them have agreed a 30 day hold while I provide a bit more info for them . They want a lst of my creditors, amounts owed and repayments . Does that seem OK. NDL have said it s so they can make sure they are all getting their fair share. I have also been asked about certain assets such as a car, caravan, stocks and shares ( I wish) .I am gong to chase up the others I think and reply to the 3

[MrsD]

Re: Help

if this is the way you want to deal with it, you need to take control, start making the payments and I wouldn't actually be filling in any i&es, no one can make you, and it's actually none of their business. If you want to pay, pay and if anyone want's to go to court, that will be what they get so no point.

if you are going to do it this way, you have to be assertive and firm, this is what you can afford, this is what they get...............if you haven't got it, they can't have it. DCAs and banks are immensely greedy, they will want more and more and more. YOU need to control them, not the other way round.

[SXGuy]

Re: Help

I agree, when sorting out my mothers debts that she does pay, none of them have ever asked for details re I&E or assets because I make it very clear, this is all we have, and that is all we can pay you, end of.

Be assertive in your reply, state this is all I am able to afford at this current time, you don't need to give them a list of everything. They either accept it or they don't.

Usually, they will just agree. And when the time comes for a payment review, you simply right back and say, my situation has not changed and will continue to pay the agreed amount.

Always works.

[Lee72]

Re: Help

Hi
Thankyou for the reply
I have already sent a budget that National debt line helped me sort out but I just included my total debt and then an offer. All were worked out more our less fairly rounded to £.

How does this sound

Dear Sir
Thank you for your letter . I have already provided you with a budget and a level of my debt. You can see from the budget that I worked out with National debt line that I only have £x spare each month. This is being spread over the people I owe money to and your share is £y.
Please confirm in writing that this is acceptable and I will make the first payment
Yours Sincerely



And

Dear Sir
I recently wrote to you outlining my financial circumstances which was backed up with a budget sheet that National Debt Line helped me prepare. The majority of my other creditors have accepted my offer and before I can get payments started I am just waiting for your confirmation. Please can you confirm this to me
Yours Sincerely

[SXGuy]

Re: Help

Yes that should be fine. Remember, they have no right to ask who your other debts are, so stay strong.