Author Topic: Debt and Bipolar and no idea what to do.  (Read 1529 times)

louise

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Debt and Bipolar and no idea what to do.
« on: Feb 10, 2011, 07:32:27 PM »
HI i have posted in the bankruptcy section but i'm feeling kind of desperate so posting here too.
 
Basically i started out very well, bought a house for £14,000 i had great credit then people offered me loans left right and centre, i struggled to pay them back but i did it every month and had no arrears until 12 months ago, A bipolar high kicked in and i spent spent spent.
 
 I stopped paying any bills at all so now not only owe on loans, credit cards, catalogues, etc i owe on every household bill as well, it got so bad i stopped opening mail and i ended up on a big 'downer' i got advice from my mental health team and a nice lady from the mortgage came to help but my frame of mind wasn't in it and i didn't follow up on anything, i have just had 8 weeks of bad depression and paranoia which have seen my two meds increased and a new one added, now i'm starting to get a grip i'm trying to deal with them all, no one knows my phone number but i get several letters a day all for debt some court orders.
 
I've just opened weeeks and weeks worth of letters and it's a fighting battle nto not end up in the depression again, had a call from a debt compnay tonight saying i had no choice but to go bankrupt, i have around £10,000 unsecured debt including the bills and the mortgage is £40,000 I am a single parent and work part time, i had a few days off when i felt really bad and now will get my second written warning next week so i'm struggling to keep my job as well as pay off everything Do i need to go bankrupt?

shocksoc335

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Re: Debt and Bipolar and no idea what to do.
« Reply #1 on: Feb 10, 2011, 09:51:17 PM »
Bi Polar is an illness and part of the illness is spending money, depression anxiety etc. If you are diagnosed then refer to the banking code section 173 - 183 where they are supposed to support people with for want of a better work mental health issues. There is also a Money Advice Liaison group code of practice for client who suffer from these type of illnesses supporting that creditors write the debt off ( credit cards loans etc) . You can download a debt and mental health evidence form that you can use to send to the creditors and get your doctor to sign it with supporting evidence of you illness. Although creditors don't have to write the debt off with additional supporting evidence such as you are unemployed etc - the creditors can well agree.

Not sure if you are still in the mortgage property or working - of in the house then focus on paying your mortgage and only ask the creditors to write off credit cards - loans etc

Good luck
Supporting 'Practical Debt Advice' by Elizabeth Mc