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| T O P I C R E V I E W |
| asty |
Posted - 21 February 2008 : 12:47:07
Hi guys
this is my first post so please forgive me if i break the protocol.
I have been struggling for over 4 years to pay my debts i know now i had been living beyond my means and my uni debts werent going to pay them selves, i have over 48k worth of debts from credit cards to overdrafts i also have a 25k loan in my future mother inlaws name witch i pay £365 a month to my wages change weekly as im a private hire driver some weeks i can earn £200 and on a good week i earn upto £350 although thats rare.
I dont have proof of earnings as such as I'm self employed. at the moment i am left with around £20 left over after i have spent on food, bills and keeping the car clean.
Im living in my girlsfriends sister's house and a lot of the furniture is hers i have a pc, tv, dvd, microwave, fridge freezer, setee, computer desk and a battered old astra in the back yard (not on the road for last 2 years) the rest is my girlfriends sisters, if i go bankrupt what will happen i understand i have to fill in the petition and pay the fee, but what happens then will i get vistors taking all my furniture ? how can i prove its not mine.
i have tried to set up an ive but it was turned down.
this is getting to much for me again and i dont want to get to the point where i was a year ago and did somethink very stupid, i have a very speacial girlfriend and dont want to hurt her but how is this going to effect her as she has possestions in the house aswell.
any info would greatly help.
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| 2 L A T E S T R E P L I E S (Newest First) |
| asty |
Posted - 22 February 2008 : 12:53:39
I havnent made any payments for nearly 2 years my out goings were over £1000 so i was actually trying to pay more money out on credit cards and repaying my overdraft then i was actually earning |
| Johnny Debt |
Posted - 22 February 2008 : 09:15:32
If you were to go bankrupt, you will not end up with a visit to take any household items! If you do have any assets, they will be looked at by the Regional Trustee Liquidation Unit (RTLU) or by an Insolvency Practitioner who acts as trustee.
The main problem that I see is the 25K loan with your mother-in-law. As this is in her name, it would not be wiped out in a BR.
I would suggest that you do a full income and expenditure on yourself, so that you can see what the real shortfall is.
Are you currently behind in any payments?
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