is this ok for the 'reason for debt' question on the form?
I have had credit cards for nearly 10 years now and always kept up with payments through regular income however in the recent years my spending continued with nights out, holidays/travelling, buying a car and general purchases. As I’d only pay back the minimum monthly payments where interest accumulated by a considerable amount, my option was to take out further credit and transfer balances where more charges where added. In the last 2 years my work has been very little and I still used credit to get by. I moved to London briefly looking for employment with higher earning salary to pay off my debts but this move only put me in further debt. At times I found it hard not to use credit, always thinking that I would have an income that would one day pay everything off but having now calculated my total debt and seeking advice from CCCS, I have realised that my debt would be almost impossible to pay off and see bankruptcy as my only option.
That's good. You have described the background, the fact that you have relocated to try to resolve your debt issues and that you have sought professional advice.
My BR 'reason' was very similar but I don't think anyone even looked at it. Maybe the judge did although I never saw him so can't be sure. When I had my interview with the OR we went over the SOA and they asked for my reason for BR and I just repeated what I had written on the SOA and they were fine with it.
Edited by - gettingoutofdebt on 25 August 2009 18:45:00
cause for debt ok ?
Posted - 25 August 2009 : 18:16:55
