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- Mon Jan 31, 2005 11:21 am #3495 Right here goes

I am around £16000 in debt to unsecured creditors and around £5000 in debt to family and £5000 to my boyfriend. I have spoken about an iva and dmp and am not quite sure whether theses are my best options.
I have around £200 left from my wages but this is based on an extremley tight budget. Would this mean i would have to pay this each month?
I am thinking about bankrupcy but have got to find the £460 fee. if i decided to take the plunge into bankrupcy it would be in April. In March i will be getting a bonus of around £1000 which i have to pay my boyfriend back as he has been helping with my rent for the last couple of months and it was funds from him buying a car.
I have been gambling foolishly for around 2 years so have had to borrow money to live as my wages were spent on gambling. What effect would this have on bankrupcy
I have now stopped gambling but do not attend GA as im not really confident in meeting people? i have spoken to my doctor who can recomend someone to talk to. My boyfriend does not know about the extent of my debts so i don't want him to know about the bankrupcy, he often stays with me so would i have to include any of his income in my total income?

I would be really grateful for help in this matter.
I apoligise for my grammer and spelling too.

- Mon Jan 31, 2005 2:33 pm #3500 Even in Bankruptcy, if you have a surplus you will probably have to pay it in to your estate during bankruptcy. If you give £1000 to your boyfriend a few weeks before making a petition, the Official Receiver may request this money back. (It can be done). If you do a search on this forum (if you havnt already) and look for Gambling Debt, you will read other posters experiences regarding petitioning for Bankrputcy after gambling.

The best thing you can do at the moment is get an assessment of your financial situation so you can see clearly what the best solution is.

FCL Debt Clinic 0800 716239
National Debtline 0808 808 4000

Either of these companies will help you, neither of them charge any fees and they will give you good advice as to what your options are. Both are confidential, and there is no obligation to go with anything they suggest. Its down to you at the end of the day, but at least if you put your cards on the table the solution will be alot clearer.

Good luck.

- Tue Feb 01, 2005 9:47 am #3532 Would i be able to say that £460 of the £1000 was for the bankrupcy fee and then say i have spent the rest of normal things as it will be my daughters birthday and i need a new freezer or will i have to show receipts?

[JaneClack]

- Tue Feb 01, 2005 11:33 am #3533 People do this kind of thing all the time and you are repaying rent for example. This is something only you can decide - if it was for the rent then that is fine.

- Tue Feb 01, 2005 11:39 am #3534 They cant exactly complain about you saying that you used £460 for the bankruptcy fee. So that would be fine. What you do with the rest is basically nothing we can comment on.