HELP. l think l need to go bankrupt.?

Question

l am in debt 20,000 worth, l live in a rented house, so that isnt a problem, l have been advised to go bankrupt,but would l be able to keep my bank account open, for my direct debits? Also if l got married would it be held agaisnt my future husband, or does it just stay in my name? or will it be not tracible if l got married and moved home?

Please help.any experience on bankrupty would also be welcome.

Answer 1

It's a complicated business, and although you'll be affected for years (e.g. 7) it won't affect your future spouse.

Ring the CCCS as they're a free charity who have a bankruptcy helpline.

Basically your landlord will be notified, your bank will too and they may shut your account, or at least downgrade it (no overdraft, no chequebook, only a Solo card etc) so you may need to open a new one - try the Nationwide BS. Finally your employer will be told to put you on a zero tax code, so they will know too.

Good luck, and check out your options before you do it.

Answer 2

Have you tried contacting CC CS or Pay plan (look them up on the web).  They offer good, free advice on matters like these.  There are less drastic solutions such as a debt management plan or an IVA (Individual Voluntary Agreement) - both will have less of an effect on your life than bankruptcy.  Good luck!

Answer 3

first get it into proportion  20k isn't so bad

is it all in unsecured loans i.e. credit cards stuff like that?

if so keep your nerve

offer what you can afford to pay--if its a £1 then thats ok

Look on website --cant remember what it si but if you put debt advise into google it comes up --something like cccs

above all dont go paying more people to get you out of debt

theres loads of free advise

Answer 4

Bankruptcy is a huge decision to make and will affect your credit rating for up to six years. If you're working perhaps you should consider an IVA! As to your getting married the debt is yours and yours alone. you should be able to continue with your direct debits but you won't be able to borrow more than £250 during your bankruptcy period.

Answer 5

Sorry hunny bunny i can't help - i thought i had it bad

Answer 6

Am sorry to say that you will lose you bank accounts, and they put a wee notic thingy in local papers like for example you know them ones that tell you who is on court its like that only it tells who has declared themsleves bankrupt. You try arranging affordable payments with the places you owe money to. Btw i have been there and i went to my local citzeans advice and when companys say youmust pay the full amount and you cannot pay in installments they cant actually take you to court or do anything on you as long as your paying something each month, they try to scare monger you. i was tears on the phone to one company and the man kept saying to me you must pay in full or we will seize your property and take you to court but once i spoke to citzeans advice i found out my legal rights and now i pay only £20 a month to 3 different companys and theres been no more scary letters through the post. go to your local citzeans advice and ask tp speak to there money advisor bring any letters you have recieved and they will help you out. it helped me out lots. xo good luck xo

Answer 7

Go to http://www.moneysavingexpert.com/ and it can give you all the advice you need on going bankrupt

Answer 8

Make offers of what you can afford to your creditors.

They have to accept it.

If they threten court action let them and the person dealing with this case will ask what you can afford to pay say £10 per month and then no more hastle.

No Bankrupcey.

DONT GO BANKRUPT it will haunt you for years.

Answer 9

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