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Posted: Thu Jan 24, 2008 11:13 pm
by rachell
I need some advice, my husband and I have recently seperated and I have a 9 month old daughter. I have had to give up full-time employment as I have no-one to look after her. I owe £38,000 of unsecured debt. I am hoping to be in receipt of Income Support shortly as I currently have no income. I am in the process of selling my house, to move back in with parents. Please advise whether going bankrupt is the best option and I know nothing of bankruptcy and am worried sick, please advise me with any info. Many thanks
Posted: Thu Jan 24, 2008 11:18 pm
by janot
Hi Rachell,
I cannot really give you advise, but wanted to reasure you that you will get lots of help and advise on this site.
Good luck
Posted: Thu Jan 24, 2008 11:24 pm
by MelanieGiles
You can definately not be sent to prison any more for being in debt - so long as you have not committed any criminal acts such as fraud and I am sure that you have not!
From what you say bankruptcy is definately an option for you, assuming that there will be no money coming to you from the house sale. It is difficult to see any other solution if you are going to have no income to fund your creditor repayments.
So sorry to hear your bad news, but concentrate on what is best for you and your daughter into the future, and a fresh start seems the best first step. Good luck.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Fri Jan 25, 2008 9:49 am
by vickir
Hi Rachell,
I was with my husband for 20+ years, he was an alcoholic who used to regularly abuse me, all our debt was in my name and as much as i wanted to leave, i couldnt see a way out without his income.
We have a daughter who was 11 at the time
The crunch came one day when he came home drunk with another woman!!!
I got him to leave (with her), and changed all the locks, i moved out 2 months later with our daughter
As i work in the finance industry, i couldnt consider bankrupcy, but an IVA seemed like a good solution.
I never thought i would be happy again, but i've met someone else who also has a daughter of the same age who lives with him and no longer have to worry about bills etc...
There is light at the end of the tunnel - you may not see it now - but it will come, good luck xx