Advice About Going Bankrupt

[waccyman]

Hi there, would like some advice about going bankrupt.

I currently owe approx £35k to various credit agencies. Originally debts were with Lloyds TSB, Barclays, DAF, HFC but these have been bought by companies such as Horwich Farrelly, BMS Ltd, Lowell Finance, Apex. I have written to these companies stating my current situation ( I am unemployed receiving incapacity benefit because i am suffering from borderline personality disorder which basically means i have depression, stress have self harmed and attempted suicide and am very agoraphobic) so i don't know when i will be returning to work.

I have little money left out of my incapacity benefit about £25 per mth. I have offered the various companies between £1 and £5 per mth to help pay my debts, most have been very good, Horwich Farrelly haven't and I have been issued a CCJ by them and have had the court bailiff attend my property to try and take my possessions.

I live with my parents in a council property, my parents are pensioners, I have sold all my expensive possessions to help pay my debts. Also i have left dealing with the situation to very late, I have no excuse, i stuck my head in the sand and thought problems would go away. Idiot i know but i just didn't know what to do.

Have spoken to national debtline and they have sent me info about bankruptcy which has been really helpful and i have started filling forms in online at insolvency website.

I just wanted to know if i am made bankrupt they can't come after my parents for my debts, all debts are in name and i don't want my parents to have to end up being screwed because of my mistakes.

Any other advice would be appreciated. Thank you.

[Hopeful1]

Hi Waccyman.

 

I don't know much about bankruptcy but have just had a quick read of the info on the Consumer Credit Counselling Service website.

 

It says that bankruptcy does not affect others in your household. BUT, if any debts are in joint names or you have had a guarantor for a loan, then they will be responsible for part or all of the debt.

 

Have a look here.

 

Best wishes ;-)