Please please please help

[withoutapaddle]

so i have a meeting booked with the citizens advice who are going to assess my financial situation and let me know what is the best opption all though more than likely will have to go br if i can save up the amount to do so.

I told my gf and she took it better than i thought which is a huge relief

A few questions

if i do go br will my parents house be black listed?

will the br ppl take into account how much i need to save for a place rent bills etc how does it all work or will funds still need to go to my creditors

how is life after br is it possible to even consider getting a mortgage with my partner or will i have to wait the 6 years to try

is there a life after br or will it just be a continuous struggle will it be a fresh start, dont get me wrong i dont want a credit card ever again or a loan or anything like that but i would like to own my own home one day is it possible after been made br?

feeling a little better but still scared and worried

thanx everyone

[chris.g]

I'm pleased you told your g'friend and she took it well, you are probably going to need someone to talk to ever the next few months.

As far as I'm aware your parent's house will not be blacklisted, the credit check is on an individual not the address.
The OR, person handling your br, will take into account your financial needs for a reasonable cost of living. If you have a disposable income of £100+ you will be required to make payment which will help pay some of the debts back.
Your credit history is going to be very bleak for 6 yr after but there are mortgage providers who will be willing to offer a mortgage, usually they are a higher rate but it's not impossible to buy a house.
And lastly, yes, there is life after br, you just have to look on here to see success stories and there are many bankrupts who have gone onto to be very successful. [:)]

[withoutapaddle]

when creditors do call is it best to tell them im now considering br

[Oliver]

Hi

Bankruptcy is there to help anybody for one reason or another who are unable to deal with their debts. It will give you a fresh start and allow you to get on with your life. Remember to call the court before you turn up with the petition as they all seem to run slightly different from each other.

[chris.g]

You could just say that you are seeking professional advice regarding your debts. If they know that you are considering br they may try to pressure you into making payments and try to get as much as possible before you file. Once you decide on br you should not pay your creditors as you should not show preference to any of them.

[Skippy]

Your BR won't affect your parent's address and if it does they can file a notice of disassociation with the credit reference agencies. I went BR living at my boyfriend's flat and he was approved for a mortgage after I went BR so it didn't affect him.

I'm glad your girlfriend was understanding - it makes such a difference to be able to share it with someone.

[withoutapaddle]

well egg have made the decision for me.

they have closed my account passed it on to a debt collector agency, and defaulted me so it will show on file for the next 6 years.

i just need to try get the court fees asap

[Soulgrowth]

I remember that it was LloydsTSB taking the money out of my current account to pay my credit card account which was a day overdue that made me realise I had to do something about my financial situation. I was managing until things were taken out of my control ... and this action was just what I needed to spur me on to sort things out ... so good luck.

I wonder what the trigger was for others to act upon their own situations?

Debbie

[Skippy]

Mine was when the 0% interest period finished on my Virgin (MBNA) credit card finished and they informed me the interest would go up to 27.9%!

[withoutapaddle]

Skippy
can i ask how they work out your expenditures because i am really concerned, i am trying to fill the forms on line and fill out the expenditure bit but i have seen ppl on the forum who have to pay money back which is fare enough but i am concerned that as i am not currently renting and living almost rent free and all my spare cash is going to saveing for the court fees will it be taken into account when i go br how much i will need to pay for full rent, food, water rates and so on.

should i put what my expenditure is will be or was? should i put what was arranged with cccs on my dmp

any idea?

[Skippy]

When I filled out the forms I wasn't paying anything towards my keep (I lived with my boyfriend in his flat) as I couldn't afford to. I put down the figures that I was going to be paying when I could afford it as I knew that would be as soon as I went BR.

If you are given an IPA and your circumstances change you can ask the OR to reassess your payments to take into account your new payments.

[withoutapaddle]

omg can they make you take an ipa too !!!!!!!!!!!

[Skippy]

An IPA is an Income Payment Agreement - this is how you pay money to the OR, not something extra! If you have more than £100 surplus you will pay a percentage of that surplus into the IPA - there is a table on my blog to give you an idea as to how much.

[withoutapaddle]

sorry got iva and ipa mixed up

takeing a while to get used to all the abrieviations

[Skippy]

It's very confusing at first isn't it?