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April 5, 2009and all my weekly benefits money is taken up by household bills,debt management,and theres little or usaully nothing left over to feed us on.Should i think of going bankcrupt?How would it affect me?Would i lose my council flat and all assets within it?I have a serious spending addiction thats now led me into serious debt with 17 different creditors,and no hope of paying it off.I've been on debt management 6yrs so far,and have at least another 10 to 15 years on it.I'm in such debt that this year I cannot buy any christmas presents for my son,parents or anyone,and I'm very bitter and angry that I've got myself into so much debt.What can i do? Hazel,uk
Get a job & stop spending. So your disabled so what. you can use a computer to ask this question so get a job using a computer
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Horaayy..there are 8 comment(s) for me so far ;)
Get a job & stop spending. So your disabled so what. you can use a computer to ask this question so get a job using a computer
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Hazel,
real world answer
Pay food 1st, utilities 2nd, rent 3rd , transportation next. what ever money u have left goes to credit slave cards.
they will not feed or house u so they be on bottom of list.
visit daveramsey.com to learn ur hard lessons from others bigger mistakes. it is cheaper and easier.
as for ur mind set visit thinkrightnow.com ,
found to be great help in my time in dumps.
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ex street bum, biz owner now
If you are in Scotland you are laughing, you could enter sequestration and lose nothing. If you are in England then you have to deal with Baliffs..However you will not lose your house unless you do neglect to pay your rent however I assume you are in receipt of housing benefit.
I am confused as to why you have been in repayment plan for 6 years though are you in an IVA? Seems quite a long time. Anyhoo good luck and hope you have a happy Christmas and peaceful New Year..
Ps move to Scotland it’s great
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Hot foot it to the Citizens advice bureau. They can help you to manage your finances and even stop some of the interest payments on your debts.
First of all put food on your table for your family.
Stop spending prolifically.
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Try this link:
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http://www.nationaldebtline.co.uk/
If you think your life has become unmanageable due to debt, which to me it sounds like it has, there is help through a program called debtors anonymous. It might not be for you, but it has helped me.
References :
http://www.debtorsanonymous.org.uk/
Bankrupcy is an option. You wont lose your home as long as the rent is paid. You wont lose your house stuff , only things of pretty reasonable value like plasma tvs. It will cost you about £335 this is less than the usual as you are on benefits. Saying that you should go to cab they will help you till fill the forms and petition and tell you all you need to know.
If you go the bankrupcy root though you will have to accept that you wont get any credit, you will need to budget on what you have, but then who would want the credit anyway.
All the best
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I would go and see your local Citizens Advice Bearue they will advice you and give you the support you need.
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