I have a question please if anyone can answer this.
i currently have, £14,000 of un secured debt, paying currently £339 managing my own DMP each month.
This debt was £21,000 however my girlfriend took a loan out for £14,000 in which i have used this loan to pay some of the debts of my DMP and unfortunatly some of this money i have wasted/gambled, half the reason im in this mess and i am seeking help.
so in a nut shell i owe £14,000 eswell as the £14,000 debt, albeit in my girlfriends name. £3000 to a family member for £300 per month.
Current monthly outgoings is currently £1139 on debts, and my wage is £1400.
i am in the armed forces and do alot of travelling and i just cannot get out of this mess im in a huge hole and struggling to turn this around.
I have spoken briefly to the welfare system on my base. and they have advised to go via the bankruptcy route.
My question is would i be able to go bankrupt with this level of debt and payments. I hang my head in shame at this situation. Ive tried beating the debt the honest way by paying it back through the last year and half via my DMP however this is one avenue that has not worked for me. And i am looking at the bankruptcy route however it all looks daunting and im not sure on the complete process.
I assume you fill in the 2 forms. Form 6.27 and 6.28 along with a cheque paytable to the court im applying at?
any information if im eligble and the best plan of action for applying, whether its alone or via payplan.
Many thanks for your time