serious help needed bankruptsy

[wakeupandsmellthecoffee]

Does anyone or can anyone explain to me the various ways of going bankrupt . I know there is a voluntary one you can do . I am totally confused and just looking for advice . Please reply . Thanks

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England and this is all a pigging nightmare but thanks for replying .

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Very much a last resort - visit CAB before you do anything.

We think we are going to go for the do it first before they get us type of thing . ie we are going to declare ourselves bankrupt before they send in the bailiffs (cant spell ) I just hope someone has some advice for us . We are good people and due to circumstances this situation has happenned . In a way I am pleased as we will get out of this god awfull house we live in .

You can do a voluntary insolvency agreement - better than waiting for the bailiffs i think. your debts are reduced to a manageable level and you can stay in your house , usually have 5 years to pay off the creditors - ask CAB for advice , or specialist debt management firm or independent financial advisor. speak to mortgage provider, see if you can have a payment holiday, explain circs are desperate.think it affects your credit rating , but better than the alternative. good luck

Thanks lulumama any advice is greatfully recieved . God this is a mess .

Try -
www.citizensadvice.org.uk
www.nationaldebtline.co.uk
www.insolvencyhelpline.co.uk

don't forget www.samaritans.org - they offer emotional support over the phone and are very likely to have supported people in similar situations and might have a list of people who can help. They are there 24 hours a day. Might be worth a call as very often difficult to get to speak to someone at CAB as drastically understaffed. Can't vouch for the websites , but just googled IVA and loads came up. Sorry can;t do link for you!

maybe can do link
{http://citizensadvice.org.uk

nope, sorry

thanks lulu mama I feel so bad for my DH and DS , not that DS knows anything

but you're not burying your head in the sand and hoping this will go away, so well done you for tackling what must be a very distressing problem - you are taking a brave and very necessary step - taking control and making the best you can of a bad situation - don't be too hard on yourself xx((((hugs)))) some friends of ours were in a similar situation and did the IVA and have kept house and car and had a lot of their debt written off. not to say it's not a struggle but better than it could have been.

thanks lulu