That's great lisel.

Please let us know how your appointment goes.

another question ( I never knew there would be SO mnay!)

I have been paying a friends life insutrance policy re DD from my bank account. Will I be asked about this and why I was doing it? Said friend has opened their own account now and payments are coming from that so pretty sure their insurance is ok but will I get into trouble for it showing on my statements?

Hi lisel.

I cannot see why given that you have a clear explanation for this.

Presumably your friend was giving you the money?

Hi there

yes friend was giving me the money for this. Just trying to get my paperwork in order so that I can take everything thats been asked of me to my meeting this week with my Debt Advisor..was worried as I dont have the insurance docs etc for this policy as its a friends :0/

I'm not sure that there's anything for you to worry about on that side of things lisel.

Hi, I am in desperate need of some help and information. I phoned this company that could help me with my debt as I have around £10,000. I have two children and not working at the moment and I am going back to College in August, this company advised me to go to Citizens Advice because I don't earn enough to pay this companies fees. They also told me that Citizens advice would give me a form then send it all off for me then that would be the end of it all, and it would take a year for all my debts to be paid off and I would have a clean slate after it, as I told this company that after College I want to get my own Salon business and eventually get a mortgage.

I was over the moon that it seemed that easy! then a couple of days later this company phoned me back to try and get me to pay those fees that they charge because they would be able to help me more than Citizens Advice, they charged £350 and said I could pay in 3 instalments but I just knew that it was not affordable for me. They then went on to tell me that Citizens Advice charge £100 for a form I would fill out and it is 50pages long (legal document, but I didn't really understand what this man was talking about on the phone with all the legal talk)!! Basically if I made any mistakes on this form it would keep costing me £100 each time I redo it!

I really need some good proper advice from someone that can help me as I have no other way that I can pay my debts back apart from go down this route.

Hope to hear from someone soon and apologies for such a long message
Jamie-Leigh

Hi Jamie-Leigh and a warm welcome to the forum.

I hope you don't mind me answering your question in a "bad news good news" way.

The bad news is that you've been lied to by scumbags that are seeking to take advantage of you financially by creating fear about something about which can actually be quite straightforward.

The good news is that if bankruptcy is appropriate for you, and you want to proceed, there should be plenty of help and support available to you.

Citizens Advice will not charge you £100 to become bankrupt. They wont charge you a penny.

There is a £100 fee payable to become bankrupt for everyone, but there is no need to pay for help filling in the forms.

If you obtain the forms from the AIB you may even find that you're perfectly comfortable with completing them yourself, but if not I'm sure your local CAB will help.

You should be aware that being bankrupt will have a serious effect on your creditworthiness in the future, but that shouldn't stand in the way if you cannot otherwise deal with the debts currently and that also isn't likely to change soon.

Hi Jamie Leigh

I think they are 'at it' to be honest.

The CAB will complete the petition for you and it's certainly not 100 pages long. The £100 they mention is the petition costs for LILA sequestration. This seems to be a better deal than their £350!

My advice is to go to the CAB, explain the situation and they will, I'm sure, assist.

Mark

Thank you all for your help, I will get straight on the phone too CAB on Monday morning.

Can I ask one more question? Will I be able to apply for a mortgage in a few years time? as my college course is 3 years and I would like to go too Business gateway to help with setting my business up and they would give me a grant to get started. Once I have my business for a couple years and make sure things are going well with money and make sure I am earning enough I would then really like to apply for a mortgage, will I be able too?

Thanks again
Jamie-Leigh

Hi Jamie Leigh

Your credit file will be affected for 6 years, so it would be difficult in that time period. After that there would be nothing to stop you, although it heavily depends on a deposit I suspect.

Mark

Thanks Mark for all your help. I think 6 years will be the length of time I would wait until I got a mortgage anyway to get back on my feet

Thanks