Hi Rorscach I hear what you are saying loud and clear. I came here for advice on where i can find such advice. As opposed to looking for a plumber in yellow pages and taking pot luck as to if they are any good or not a recommendation from someone who has had the same experience is obviously so very helpful There are quite obviously some very well versed individuals on this forum who have had similar situations and im hoping someone can chime in with "i have used x or y" etc. I dont even know where to start! do i need a bankruptcy practitioner? A debt management company? a hairdresser? Whilst yes, at the moment I am managing to meet my repayments, the effect on my health is an unknown except it isnt getting any better!

Hi MJC007 There arent really any assets in my company as it is essentially a consulting business - which whilst it can be quite lucrative - my clients pay for "my expertise" (if there is such a thing!). I have some very big corporate clients and lots of work - the problem being I am on beta blockers and other heart meds that knock me for six and to say i am tired all the time is a huge understatement. Maybe its the smell of burning martyr - but i have a responsibility to provide for my wife and children first. Im working as much as i can and at least i can say i died trying:) I am trying to "condition" my son to eventually take over my business, but hes still only 19 and has a lot to learn and even then, my clients i have known for over 20 years and they are paying for my experience.... I have "tried" to do a deal with crapstone - but they just arent interested. I try and point out that if i go bankrupt, the sale of the house will leave next to nothing for them (and as i understand it all loans secured will become unsecured when the house goes as there is nothing to secure them to. Obviously, the other concern is if I do go bankrupt - how long can i not be a director for? is that life? or the duration of the bankruptcy? Half of the unsecured debts have already been sold onto "comedy" collectors, who pester me day in day out but i just cant see a way out. The idea many years ago - was to provide a security blanket for my wife and kids should anything ever happen to me - but im just digging myself into an early grave (im 42 and have heart disease and diabetes) and none of my efforts are doing anything for anyone except abbey and crapstone. the house at one point was worth over 400k - but under the current cimate i would be lucky to get 250k. I know i probably need specialist help - but its a minefield and the the time i do have i spend working, trying to pay these idiots. any pointers - much appreciated

Hi I run a small ltd company and a few years ago I was diagnosed with a heart problem which took me offline for over a year and meant i couldnt pay mortgage etc. as I couldnt work. I also have a second charge on my home with Capstone (SPPL) and basicaly i ended up fighting reposession about this time last year. After forcing myself back to work (and no help from the state despite paying 40% tax for 20 years!) I managed to secure a suspended reposession order which i have been paying for over a year. I need to point out that i have other debts of over 60k (unsecured) of which 22k was smacked onto the house via ccj and a charging order (3rd charge). I pay £1500 per month mortgage (including 200 arrears) plus 600 to capstone (second charge) last count I owed 260 to abbey and 60k to capstone. the house has been for sale for nearly 2 years and not a sniff from anyone. (its priced to high but it needs to be to repay the mortgage and second charge).... I have 5 kids and its a large house - obviously we are in major negative equity. But the point being my out goings on the house are over 2k per month... i could rent a simmilar property for 900 per month..... My health is now getting worse and im finding it increasingly difficult to meet the payments as i work less and less. (but i am still meeting the payments). The icing on the cake was a statement from capstone which showed of the 2000 i had paid in that quarter ... only £56.00 (yes fifty six pounds) has come off my debt! Im so tempted to just let them take posession and rent elsewhere (for 1k less per month) - but i guess the shortfall will force capstone into making me (and my wife?) bankrupt? I understand as a bankrupt I cant be a director of a ltd company (my company has no debts by the way) which would mean i couldnt work anyway.... but at least i would be debt and worry free. Heart disease tends to get worse not better and it would be nice to spend some time with my wife and kids (of which the youngest is 6) instead of killing mysself by working all hours 7 days a week to pay a mortgage that is never going to be paid off. At least if i let them take the house and become bankrupt i might be able to try and find my feet and hope my health starts to stabalize under medication? Thoughts please. HughJ