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| The independent answer to your debt problems | login join |
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jambo103
| 23-12-2007 08:11 PM |
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Joined: 23 Dec 2007 Posts: 2 | Hi people, Just a quick wee message. I have done a lot of research on this forum over the past few weeks and it has made me feel a lot better in that I am not alone in debt. I've been self-employed for the past year and a half and it is not going to plan at all, the past few months have been really tight and my outgoings are now far exceeding my incomings, and as much as i'd like to say it will, I can't see much change in the next few months. I reckon Sequestration is the only way out as I have near £63k of debt, including my student loan. I try not to get too downbeat but everything has been caving in on me for months now and i feel the best option is to try and start again. Was just wondering if I was to go sequestrated now, would my student loan be included? Was also wanting to know when the new laws came into effect in Scotland and does Sequestration impact on someone who wishes to have a career in the forces, like the Royal Navy? Thanks for listening to my moans! |
| DW George | 24-12-2007 11:15 AM |
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Joined: 01 May 2007 Posts: 148 My Profile | Hi jambo103 I am glad you have found this website helpful and informative. I am sorry that things are not working out quite as planned. You are definitely not alone and I suspect next month this website will be full of people trying to rectify their debt problems. Students loans in Scotland can be written off in bankruptcy, but this will change in April 2008 when it can't be included in bankruptcy. Sequestration may not be the only way out for you. There are other avenues available to you depending on your financial position, Protected Trust Deed or a Debt Arrangement Scheme plan may offer you a way out. In respect of the effect that bankruptcy has on a future career in the forces you would have to research this for yourself as entry requirements change constantly. I have read that if you are or have been bankrupted you cannot join the forces, but I have not read anything definitive about this so best contact the Navy careers for more information before you agree to any financial solution. If you can do an Statement of Affairs we will take a look at it and see if there are any other alternatives. Also read my article on credit card bills and maximising your income. Hopefully you'll find them helpful. Happy Christmas George |
