Author Topic: I am useless with money and in the brown sticky stuff .....again !!  (Read 874 times)


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Hi Folks,
I'm sure that my story is familiar and not in the least bit unusual.
I'm 55, unemployed and on Income support, incapacity benefit and D.L.A.
I have debts of around £10,000 and have been trying to sort things myself for about 18months now but am walking in soft sand at the moment ...... getting nowhere.
I have recently moved in with my girlfriend who is my registered carer, I have very few posessions, certainly nothing worth anything whatsoever, all has been sold to survive. I still have my car which was bought last year with the help of my parents and is worth around £1000, I live in a rural area and can't do without.
I am finding it impossible to cope with payments, and as a consequence have been taken to court,I  have a couple of CCJ's.
I have suffered since an early age with chronic anxiety and palpitations/atrial fibrilation and its getting worse ..... for my healths sake I feel that I would just be better off going the bankruptcy route, my resolve is failing quickly and I am becoming ill as a result ....... all brought about my inability to handle money.
I started a business in 1998, with a self styled "business Guru" as a partner in an attempt to work myself out of poverty in to a successful life style, I went bankrupt in 2000. I managed to pay off all my suppliers but not my bank.
Thats a brief account of my position and would appreciate any advice available before I go mad.
Thankyou for reading this.

James Falla

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Hi there Pete
Sorry to hear about your situation. Given that you have a low income and no assets (other than your car) my suggesting is that you think about a debt relief order. You can find out more about the DRO solution [** sorry, no personal contact invitations allowed **]. Basically it works in the same way as bankruptcy but is designed for people on a low income and who have debts of less than £15k. The advantage is that the cost is £90 apposed to the £525 discounted bankruptcy fee you would otherwise have to pay.
Debt Expert & Author