any solution before the inevitable happens?

[nipper]

I owe approx £29000 from a house reposession and a further approx £22000 from other unsecured debts.I pay £5 per month off the £29000 and a further £12 per month from approx £7000 of the remainder.the rest of the £15000 i pay to various credit cards and loans which amounts to approx £400 per monthy.I am currently on long term dissability benefit after a stroke and there is no way i will work again.I am 57.Is there any way that i can put any solution into place befor the inevitable happens.I have an income of £150 per week

[Adam Davies]

Hi
Have you considered bankruptcy ??
It,s not as bad as you would expect and would give you a solution to your problems,you would also be discharged within a year.
How on earth do you cope with an income of £600 and paying about £417 for debt payments ??
This site and its sister site www.bankruptcyhelp.org.uk can help and support you through the process.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[nipper]

The payments have been made with what i had left from the loans this will be all gone in two months.The house repossession was in both my wifes and my name ,Does this mean that we will both have to go bankrupt

[Adam Davies]

Hi
If the debt is in both names then your wife will also be liable.
You will need to take advice from an IP to be sure of the correct route for you.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[Skippy]

Hi Nipper, I went BR at the end of March and believe me, it wasn't as bad as I expected. I had no assets and although I tried an IVA it failed as I couldn't afford it. I have posted all my experiences (so far!) in my blog. Good luck x

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

[freelili]

Hi Nipper

I just wanted to wish you the very best of luck with this, It sounds like you had a really tough time lately,

LILY

fly me beyond the distant star, I will wish on tonight to see you smile just once more to know youre there.

[nipper]

Hi I think ive made my mind up?Just a question that someone may answer.When you go bankrupt does anyone come to your house and do an inventry of your household items?The reason i ask is that i have a few items that my son bought.A tv and a fridge and freezer plus some other items.Thanks for your advice and support

[freelili]

no one comes to your house to take your household items. The OR in bankruptcy will only be interested in items worth thousands of pounds and only then if they belong to you.

LILY

fly me beyond the distant star, I will wish on tonight to see you smile just once more to know youre there.

[tracy.h]

Hi nipper,goodluck im sure you are doing the right thing.If you read skippys blog then it will give you a good insight as to what happens in BR and reasurance that its nothing to be ashamed about,we all have debt problems that post on this forum,and be it BR DMP IVA we will all like yourselfe find a solution that will help us to find peace of mind,and help us move forward
Take care