Tweet
Good morning,
I am new to this forum and scared to post but need some urgent advice.
I have got myself into debt over the last few months, from gambling that I cannot afford to pay off and it is smoothering me, causing me mental health problems etc.
I have roughly £45k circa debt and was looking at Bankcrupcy as the best option for a fresh start. I was after some advice about the process, in terms of fees, is it just the application fee? I earn okay money, around £40k per annum. and therefore with reduced payments would have some money left over so not sure if stepchange etc would try to push me down the IVA route? I know the implications in terms of not being able to get credit for the next 6 years etc is the same, I would like for this just to be over and go down the Bankcrupcy route. How much would the OR likely ask me to pay then each month and I assume as I earn okay money this would be likely to continue past the initial 12 months?
In terms of budgets etc, I lith my partner and pay half of all bills, mortgage, car etc but everything is in her name as she knows I don't have a good credit rating, although I haven't told her the full story. Would the OR allow me to include these payments with my budget?
Lastly, some of the debt is relatively new, would I be able to just go straight ahead with it or is there a time period you have to wait? In terms of what happens once you apply, would my bank account be frozen pretty quickly? So I'd be best to withdraw any left over money asap to live on etc.
I am seeking help for the gambling, I have stopped before for 4 years but think some personal issues have turned me back to it but I am now seeking professional help for this as I need to beat this once and for all.
As all bills etc are in my partner's name, if the OR allows me to pay my half and include reasonable expenses for our son etc then I don't think my life would change too much, day to day. In some ways I would welcome not being able to get any more credit. I just wonder how brutal they are? Like if they were not to include those bills or ask for a hefty monthly total then I would struggle to live and contribute to the household, seriously effecting my family.
Sorry for waffling on so much, if you want any more info to answer any of my queries please let me know.
Thank you for listening.
I am new to this forum and scared to post but need some urgent advice.
I have got myself into debt over the last few months, from gambling that I cannot afford to pay off and it is smoothering me, causing me mental health problems etc.
I have roughly £45k circa debt and was looking at Bankcrupcy as the best option for a fresh start. I was after some advice about the process, in terms of fees, is it just the application fee? I earn okay money, around £40k per annum. and therefore with reduced payments would have some money left over so not sure if stepchange etc would try to push me down the IVA route? I know the implications in terms of not being able to get credit for the next 6 years etc is the same, I would like for this just to be over and go down the Bankcrupcy route. How much would the OR likely ask me to pay then each month and I assume as I earn okay money this would be likely to continue past the initial 12 months?
In terms of budgets etc, I lith my partner and pay half of all bills, mortgage, car etc but everything is in her name as she knows I don't have a good credit rating, although I haven't told her the full story. Would the OR allow me to include these payments with my budget?
Lastly, some of the debt is relatively new, would I be able to just go straight ahead with it or is there a time period you have to wait? In terms of what happens once you apply, would my bank account be frozen pretty quickly? So I'd be best to withdraw any left over money asap to live on etc.
I am seeking help for the gambling, I have stopped before for 4 years but think some personal issues have turned me back to it but I am now seeking professional help for this as I need to beat this once and for all.
As all bills etc are in my partner's name, if the OR allows me to pay my half and include reasonable expenses for our son etc then I don't think my life would change too much, day to day. In some ways I would welcome not being able to get any more credit. I just wonder how brutal they are? Like if they were not to include those bills or ask for a hefty monthly total then I would struggle to live and contribute to the household, seriously effecting my family.
Sorry for waffling on so much, if you want any more info to answer any of my queries please let me know.
Thank you for listening.
