Never used a forum before so please bear with me.
In my mind I feel like my situation is the worst anyonecould ever hope to face...but I am trying to convince myself that this isn't the case.
A few years ago I started a business that just didn't makeit.
I borrowed £25,000 from a bank to start the business andafter the Company went into liquidation I was left with the bank loan.
I went to the bank to try to discuss a revised loanagreement to spread the outstanding balance over a longer (and more affordable)timescale.
After being told I did exactly the right thing in coming tothem for help, they subsequently froze all my accounts and demanded that I payback the total balance within a relatively short period.
I had another self employed freelance business with abusiness account at the same bank at this account was also closedpreventing me from receiving payments from clients.
Ultimately it had a negative effect on that business havingto inform clients to pay me personally into a newly opened cash account.
The financial ombudsman, after granting the bank numerousextensions, simply replied that the bank had acted in accordance with its termsand conditions.
My freelance business was only able to pay small amounts tothe bank and towards a £10,000 credit card debt.
I rented out my home as I was then living with a girlfriendand after a reasonably short while I found myself out of work completely...andthen single and homeless.
The tenants in my home started receiving lots of letters andknocks at the door and ultimately left.
At that time I didn't know what to do and I felt like Ineeded to keep pushing for work to attempt any chance of surviving and settlingthe debts.
I couldn't face the creditors and so didn't doanything.
I moved into a bedsit without telling anyone andstarted to rebuild a small amount of work to survive.
An opportunity to work in Italyarose with the possibility of making larger sums of money that I thought mightbe the key to paying back the debt.
After 2 years there is no chance of that and I am nowabout to move back to Englandto live with my parents, wait 6 months and then declare myself bankrupt.
I have no idea what the total level of debt is as I have hadno contact with creditors for about 3 years.
I tried to have my accounts prepared by an accountant butwas unable to pay his bill and so these were never completed...about 3 yearsago.
I'm pretty sure my home was repossessed although I cant findany evidence of this. I believe there are tenants in it now which Iassume is being handled by an agent acting on behalf of the mortgage company.
3 years later I am kicking myself for not going bankruptright there and then.
I did exactly the wrong thing and I have been living in fearand constant worry for so long and I have now come to the conclusion that Icannot resolve it by just working.
I have a job to go back to in Englandbut I am extremely worried about how to find out about my old bankaccount and re-contacting creditors for settlement figures etc because Iam really struggling to function with so much worry and stress.
I need to be able to work and I have to try andfunction until this is all resolved which seems impossible but has to done.
I have a bank account in Italyand a 5% equity stake in a small Italian Company which is still alive butbarely trading and doesn't really generate any profit.
My home was in negative equity for about £10,000 beforeI left.
I might owe about £4,000 in VAT.
I have no idea if I have any CCJ's or whatever but I don'tthink any of the creditors have forced me into bankruptcy.
It's time to face the music and sort it all out but I ambeside myself with worry.
12 hours sleep last WEEK!
I would really prefer to have an insolvency practitioner orsomething/someone help me through the whole process because I justdon't have the strength or knowledge to be able untangle the mess.
After 3 years, 2 countries and endless changes ofaddress I have very little information left about my state of affairs.
Can anyone offer any advice about how best I should startthe process and alert me to the kind of procedures and penaltiesetc I am likely to face?
I am not looking for sympathy - I know I did the wrong thingin not sorting this out 3 years ago.
I prioritised survival first and thought I could sort it allout later...it's 10 times worse now.