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I won't go into the whole sorry tale Upshot is I had a whole load of debts totalling @ £22,000 which I have been paying for the last 10 years at the rate of £7 per month (Token Payments)

 

I don't know how but I managed to let my ex talk me into getting another £33,000 pounds worth of debt in the last 15 months

 

He could not get credit in his own name

 

Anyways I told some lies re my income in the last lot of debt 2 x loans plus 2 x credit cards plus a massive overdraft (all maxed out) be cause I had him staying with me I thought I could service those debts

 

Anyway in the last 6 months I have had a serious illness lost my job and my ex is now my ex

 

I was thinking about taking the low income low assets route to bankcruptcy as I have no income apart from State Benefits and I live in rented accommodation

 

Could anyone on this site advise me as to how you think the AiB will view my situation vis a vis my older debt and my newer stuff bearing in mind I did lie on the application forms for the new loans

 

I know this sounds mixed up Any questions??? Any advice greatfully accepted

 

Please dont judge me till you have walked a mile in my shoes

 

Lass

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Hi Lothianlass

 

No one is going to judge you on here :cool: everyone has their own story

about their reasons for getting into debt.

Anyway your total debt is still lower than what mine was. :)

 

Hopefully one of the experts will be along soon to give you

advice re the aib and anyhting else you need to know.

 

HT

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hiya

 

if you have no assets it might be the way to go

 

National Debtline Scotland | Debt Advice | Factsheet 01 Bankruptcy

 

Ida x

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Thanks Ida I was more worried about how the AiB will view how I managed to get into the second load of debts

 

Any thoughts??

 

Will I end up in big trouble for inflating my income on loan applications??

 

cheerz

 

 

That link was most helpful thanx

 

shine a light

 

Lass xox

Edited by lothianlass
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Will do Blue going to make a list and get in touch with that Debtline Scotland ASAP

 

I seem to have been frozen with fear last few weeks afraid to answer my phone or my door

 

Thanks to finding this site I can feel the darkness lift a bit

 

Trying not to be a drama queen but I really have been worried sick

 

Have hardly ate or slept for days just worrying

 

Thanks again all

 

shine a light

 

 

Lass xox

Edited by lothianlass
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  • 9 months later...

Hiya everyone Things have changed since the last time I posted on this forum

 

I eventually took the LILA route to Bankruptcy in Scotland and everything has proceeded well so far I was sequestrated in February of this year.

 

My brother has had a bit of luck on the National Lottery and sez he would give me enough money to make an offer of composition to my creditors plus any fees to the AiB The offer would be 25p in the £ that I owed

 

It would be great to be discharged early and have the bankruptcy expunged from my record

 

Does anyone have an opinion as to whether they think this offer would be accepted and as to how one would go about making such an offer?

 

 

Thanx alot

 

Lass

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remeber as well the BK will not disappear of your record, it will still be there just that you may be discharged sooner.

 

remember that any monies agreed does not pass your hands as well :wink:

 

http://www.aib.gov.uk/MainNav/Services/Legislation/howlongbankruptcy/offerofcomposition

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Thanks Ida I think I will leave well alone as I thought bankruptcy could be recinded

 

He said he would take me on a nice holiday with his family Do you think that would be frowned unpon? There would be no money involved just the holiday.

 

If that would create a problem I would just leave it until I was discharged

 

I know how this sounds Puts me in a bad light but the offer of help does have his conditions not mine

 

Luck always to you

 

Lass

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if its being paid for by someone else then that's fine

 

it is only a problem if monies pass through your hands,

 

is he looking for another sister to adopt :lol:

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