Ok the situation is I ran up about £20,000 worth of Debt at university through Student loans, grad loans etc. I then came to London and got a job in 2001. Suddenly I was able to get more credit and soon after the gambling started. To say they were the worst two years of my life is an understatement. I soon had Debts totalling £50,000 and it was then that I had to let my partner and family in on what had been happening.
This was almost 2 years ago now and since then I have been on a DMP with the CCCS - and presently pay £474 each month to my creditors.
The thing is recently I have just started thinking how depressing all this is and started to wonder if going bankrupt would be an option to getting rid of the Debt - I was told at the time when I did my DMP that I could not if any of the Debt was due to gambling - however from reading posts on here that seems to have changed. Now for the facts and it is here that I need the help.
1. Can I go bankrupt? All the Debt was racked up prior to April 2004 which is a date I have noticed.
2. If I do go Bankrupt which of the following will take place - as it is these things that I am most worried about and want to know if anyone else has ever been in the same position:
I work in an Investment Bank as an Analyst - not dealing with peoples money or anything - just a back office job. Will they be contacted about this or will they find out? I understand if I apply for another job then I will have to say and that may affect things - so this might be the biggest stumbling block for me as do I have to claim on these employment forms for the rest of my life that I went bankrupt?
I also have about £1100 left each month after paying rent, bills and the CCCS - will the O/R take all this or is there anyway I can keep most of it?
Will my landlord be informed of the fact that I have gone bankrupt?
I have one Credit card left that I got from Capital One to start rebuilding my rating - only a £200 limit and paid in full every month - will this be cancelled?
Will my bank account automatically be closed? As I am paid by BACS if I do not have a bank account then that is sure to set some alarm bells going for my employer?
So just wanted to know if anyone could help with these things - as at the moment it is these that are holding me back....any thoughts or answers appreciated.