I have been concidering this for about 3 years now.

unless anyone else can help me find out how else to clear the debts that an ex boyfriend of mine ran up in MY NAME?????

I refuse to struggle any more than I already am just to live, without paying money I havent spent. when speaking with the banks about 3 months after finding out what he had done they told me ” its your name so you have to pay it” although they could tell me when I got with this person cause it was almost striaght away that my accounts became erattic, and then when I returned home oneday he was gone.I also found out when trying to cancel the additional mobile phone I had that he had, He had change my details address etc although he sounds nothing like a women. I mangaged to get that changed back and to get the address he had given, to which I rang the banks and passed the details on I still got the same response.

???????????????????????????

So I will have to go bankrupt

Regards

“You will be named in your newspaper” – Big deal. The banks I owe money to lost billions. We’re not that different really.

“You won’t be able to borrow money” – Borrowing money is what got me into this mess. I can live with that.

“You can’t be a politician” – Because everyone in the country is a politician! Seriously how many people does that affect? You can’t be an accountant either; though I think the politician thing only lasts until the bankruptcy order expires.

Some of the points made in this article differ to my experience. Yes it is an extremely rigorous process and if you have assets such as a house, you stand to lose them. however, you may be able to keep certain items if for example they are essential for your work (I was allowed to keep my car which was, crucially, an old banger with no re-saleable value).

My experience was that I was not widely publicly named and shamed, did not lose my job and my landlord did not have to learn of it. The official receivers have a job to do but I believe they do not wish to see people destitute, out of work or living on the streets. Prior to applying for bankruptcy I was receiving stressful and invasive communications from debt collection agencies at work and home, which ceased once the bankruptcy process began – this was one of the biggest reliefs. [note: the financial ombudsman's guidelines give information about what is and isn't acceptable for debt collection agencies to do].

It was a profoundly difficult decision and an experience which I would warn people not to go into lightly, it is far from an easy option. However, I now consider myself extremely lucky to be debt-free and feel profoundly relieved to be on the other side of this experience. Suffice to say it’s an experience I will never repeat.

I do think it’s important that balanced information is given to people about this. I received very helpful information from the Consumer Credit Counselling Service prior to bankruptcy, and the official Insolvency Service’s publications give all the information required. Also, there is now a forum on Moneysavingexpert about bankruptcy where people can share experiences and information in a non-judgemental place.

The officials I came into contact with at the court and at the official receivers office did their jobs soberly, thoroughly and efficiently but were humane and respectful at all times. It’s a hard enough process without needing to feel like a pariah as well.

Nonetheless, a good article to show someone if you wanted to put them off bankruptcy and felt they had other viable options or were entering into it lightly!
all good wishes,
bd