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Beckyp1

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  1. Hi, I have been in debt - living with debt management plans etc. for years. Feel like it just goes around in circles... It was 2007 after splitting up with a long term partner and moving out of our house when my debt spiralled out of control - the same week, I lost my job and company car and spent a few months out of work. Our house was sold but made a slight loss with the early repayment fee we had to pay in order to be released from the mortgage. We had a joint loan of around £20,000 (including interest) with my bank which after a few months my ex-partner decided he was not going to pay his part for anymore. I got debt advice and set up a debt management plan with a company who I later realised were making a fortune out of my situation. I applied for an IVA (August 2008 ) which was rejected by my creditors as they felt my offer was unsustainable (if I offered any less it did not pay a high enough % over 6 yrs). I went onto another debt management plan via a free D.M Co. for around 15 months. Earlier this year I was made redundant and decided to work for myself offering freelance admin services so am now self employed. I contacted CAB who worked out what I could afford to pay into an IVA and recommended I try applying again. My details were passed onto a specialist co. who work out your projected income etc. (due to the self employment) but at the final stages I rejected the proposal based on the increased payment they said I should make... I am married to my new partner (we have been together since the end of 2007) - ALL of my debts were accrued prior to us meeting, whilst going through the IVA application and sending in all of my details / info requested I was told I had to prove my partners income and all expenses etc. I queried this at the time because my debt is 100% mine (and some of it my ex-partners), certainly not my husbands. I was told it was to prove that he isn't a pilot or other profession that would earn a huge salary - he isn't, he is on an average salary and just about manages his living costs each month as do most people. The company the CAB passed my details to increased my surplus income to 3 times that amount the CAB calculated on the basis that my husband should pay more towards our joint living costs (rent etc) as he earns more than me!! I'm not prepared to make him suffer any more than the fact I have never got any money - why should he pay more because of my past?? I have always paid 50% of our living costs and always will. I rang the CAB back who after I got quite upset agreed that my situation has been like this for way too long - going round and round in circles but not really getting anywhere... They adv I should seriously consider bankruptcy - if I can find the money to petition... I wrote to my creditors in August 2010 offering £1 per mth for time being (so I could save money for bankruptcy) - 3 of them accepted but only for 1-3 months - I'm being chased again daily by majority of them and don't know what to do next... I am earning around £1150 per month which after all costs leaves me with around £90 - if I offer them this amount I will never be able to petition for my bankruptcy, it will take me a good 6 months to save enough money - I'm sure they will have already taken further action by then... My total debt is apx £43,000 (including my ex-partners - he hasn't paid anything for 2-3 yrs now) - I am living in a rented house, use my husband's car and have no assets or nothing of value I could sell! Sorry to start with such an essay! Hope someone is able to offer some advice.. Thanks
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