at the edge of doing something silly. I need help

[rjm]

I lost my job on 5th January 2007. I have been to numerous interviews and have had no success. I'm almost completely out of money and I owe about £18,000. By next month, I will be completely broke. I don't own a house, or anything that I can sell. I'm back living with my parents, and I'm almost at the edge of doing somrthing silly. I need help.

[aguise]

Hi there
I'm not a technical expert ,just another who has been in debt. There is always a solution, be patient and someone will be along to answer.As you have no assets and no income then bankrupcy may be the answer, an iva is not suitable with no income. Anyway someone will be along soon, this forum is a wealth of info and help be patient.

Ang

[MelanieGiles]

Hi rjm

The easiest solution available to you at the moment is to consider bankruptcy proceedings. This will take away the debt pressure immediately, and enable you to make a fresh start. The downside is that it will cost you approximately £500 in Court fees to make your application.

Have you discussed the matter with your parents? And could they offer you any money to settle with your creditors, which could be treated as a loan to be repaid once you find work? I am sure that they would want to help if they knew how stressed this was making you.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

Try to remain calm, this site is evidence that there are many solutions to debt problems and the people who post here are proof that there is light at the end of the tunnel.

Why not speak to your local Citizens Advice Bureau about bankruptcy. If you are on benefits you may be able to get a reduction in the fees by c£180.

Hang on in there.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Skippy]

Hi rjm, please don't do anything silly. As the others have said there is a solution for your problems, and you will get through it. Please don't be afraid of bankruptcy - I was made BR myself last month and it was nowhere near as bad as I expected. I have posted my experiences on my blog, which may help put your mind at rest.

Take care, and please let us know that you are ok.

Good luck.



Onwards and upwards!!!

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

[rjm]

I don't even know where or who to tur to for help. I had a job paying £25k a year, and they also gave me a 3 bed house and paid all my bills. It was an amazing position, and I had a life to do things I could afford and I didn't worry about the debts I had as I knew I would be able to pay it back now that I had this great job.
Three months later, they paid me off. That was Jan 5th and I'm still out of work. I've spent a lot of money trying to get a new job, but now I'm almost broke. i swear I have like £100 left in the bank. I'm claiming unemployment benefit too, but Considering i'm paying out more than £450 a month to ceditors I just can't cope. I can't tell my parents about this as they don't have that kind of money, and they have issues that thay are trying to deal with. I don't own anything that I can sell. I just don't know what to do

[aguise]

Dear Rjm
You have already taken the first step and you have help for you here on the forum, we are all here to support you. As others have said bankrupcy may be the best option for you the only prob will be maybe getting the money to file. Is there anyone you could borrow from until things get better and you find a job. Could you take a lesser paid job just to get enough to file for the bankrupcy and to get you through to a better paid job. I am sure your parents would not want you to suffer this alone, others have found family very supportive when they least expected it. Bankrupcy does not have the stigma attached that it used to and will give you a clear start. They do not take personal things. Read Skippys blog. Thnere is an answer keep posting and we will all try to help.

Ang x

[MelanieGiles]

Your local Citizens Advice Bureau are a good starting point, but at the moment I would write to all of your creditors explaining that you have no income and cannot pay them anything until you find work. And stop making payments to them which you cannot afford.

What industry/profession are you in?

I really do suggest that you talk to your parents about this - I am sure that they will be very sympathetic and want to help - if not financially then they will provide you with much needed emotional support.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[DebtDummy]

hello rjm, there is help available. CCCS is very good at assisiting people in solving their financial problems.
The link is :http://www.cccs.co.uk/ . Contact them immediately. Their counsellors are understanding.

Don't despair. Take a deep breath and say to yourself,
''This too shall pass.'' You are not alone. Many of us here have been where you are today. Worried, confused, and depressed about debt. I declared bankruptcy on 3 April 2007. Believe me, you will solve your financial difficulties through one method or another.

Please contact CCCS today and feel better about your future. The line may be busy, but perservere someone will talk to you about your finances.

All I have left is my humour.

[freelili]

Hello rjm

I just wanted to say that you have a life and people love you, we care about you as we know how desperate the feelings are when you owe money and cannot see a way out of it. I have debts of 32K and lost my job when my IVA was going through, I tried so hard to get another job like my life depended on it. I was then prepared to go BR but my mom died suddenly and it put everything into persective. Please dont give up, BR is a real option for you and as Debt dummy says your problems can be solved. Why not check out the sister BR site? You are not alone and we understand what you are going through.

Keep posting and good luck

LILY

I asked God for a solution and have to live with his reply.

[rjm]

Thanks for all you advice. I'm feeling slightly more optimistic today as I've spoken to someone from a debt advice line. If I am going to declare BR then it's only costing £63.00 apparently that is all I have to pay at the Sheriff Court (i'm in Scotland - not sure if that is why it's so cheap). I also spoke to the bank, and they have agreed to loan me £15,000 but my sister had to be named as 'guarantor'... if that's what it's called.

I am going for a 2nd interview way up in the highlands of scotland this coming Friday so I really hope to get the job as it comes with a house too. I work as a butler and as there isn't much demand for that anymore it's rather hard to find a new job.
Every other job i've applied for say i'm over qualified, or I have not enough experience for the position they are looking for.

I've told my mother too, and it was much easier than I imagined. Oh well... 7 years of paying back money - debt is a horrible thing to have

[MelanieGiles]

Glad you're feeling better - and the very best of luck with the job interview. Let us know how you get on.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[freelili]

Hello

I am glad you are feeling better also but I dont understand why you are having a bank loan and declaring ~BR? Your debts will be written off in Bankruptcy and you shouldnt borrow if this is your intention, right? Or am I not understanding this correctly?

LILY

I asked God for a solution and have to live with his reply.

[rjm]

The advisor at the bank said it would be much better for me not to declare BR. He said it will have such a negative effect in years to come, and he said that so long as I am trying to get a job and I will be working there is another alternative to BR.

[freelili]

Hmmmm I would be careful with this advice, from a source that is going to make money out of you with a loan and might lose out if you went ~BR. Try taking another opinion from an inpartial expert. I was offered a loan from the bank and like you am not working at the moment, I refused. Ask yourself what could happen if you take the loan and dont get the job? I really am not trying to upset your plans but I feel its important to make the right decision for you and your own circumstances. I am just a bit concerned about taking on more debt when you are already unable to meet your financial commitments as well as being 'unstable' (for want of a better word) in employment status. What do other forum members think?

LILY

I asked God for a solution and have to live with his reply.