|
|
| The independent answer to your debt problems | login join |
|
M4K4VELL1
| 29-12-2009 09:48 PM |
|
Joined: 29 Dec 2009 Posts: 1 | Hi All, I need some advice and been everywhere I can think of and get no-where. I have been moving from home to home over the past 10 years trying to avoid debt through immaturity and eventually through pattern. I have realised I can't do this anymore - I'm 31 years old and responsible now(yeah learned lessons the hard way including the death of my kid brother from sudden adult death) and now I have Fibromyalgia. I want my children not to know this life and as such I am standing my ground and trying to face life eyeball to eyeball. Now here's the problem. I am in what I guess (and is a guess) of at least £25,000 debt I would assume and if I contact all the credit reference agencies - they ask for your address and then all hell will break loose and I will probably have an army taking what little goods and posessions we have (obviously travelling light from place to place). Next problem. On some of the forms I have in the past wrote - been here at least 3 years (when they asked time lived at current address etc) - I am worried because I have been told I can go to prison for this and being as ill as I am I can't face that - maybe when younger but not now. Is it easier as I have no banks, credit cards or anything...just to get the money together to go bankrupt (as someone said it wont effect me as I just deal in cash and have for 3 years now) or is there something else I can do. I dont care anymore about credit ratings etc - I just want to be all square and start afresh. I was stupid (I know) and I have paid with my heath as my condition is brought on they believe by tremendous stress which leaves me on Employment Supplimentry Allowance (going to Disability) and a painful wreck every day. Any advice for a bad guy trying to make good as I want to be a part of society again - not outside it. Mak |
| Mr Smith | 06-01-2010 07:49 PM |
|
Joined: 06 Jan 2010 Posts: 15 My Profile | More power to your elbow for facing up to your debt situation. Based on the limited detail provided bankruptcy may well your best or only option. Given your very limited long term income you are unlikely to be asked to financially contribute to your bankruptcy, other than the initial cost of petition. (These costs can also be limited but be advised by your local advice outlet or court advisory service regarding details). Be wary however if you have assets.......house, car etc.......as their value is realisable legally for the financial benefit of your creditors. If you are committed to bankruptcy take whatever steps are required to establish your full debt situation as it will make your bankruptcy much easier to administer and stop stupid creditors trying to pursue you falsely in the future. I hope such action removes some stress and has a positive effect on your health and family life. |
