Bankruptcy happened to me in early 2006 and in an effort to share my experience I’ve since decided to write this blog. You will read what I experienced throughout the bankruptcy process and how credit cards, student loans and a business landed me with almost half a million pounds of debt.

I hope to project that while bankruptcy serves its purpose it can have some very serious consequences and that life itself can make the experience that much more unpleasant. As time goes on I hope to show that bankruptcy, or indeed any serious debt solution, does not need to inhibit your life ambitions and that it is possible to get back on your own two feet – hopefully stronger and wiser than before.

For me, the last nine months of my life have been difficult. Living in a city I love so much and limited by the financial consequence of bankruptcy I have endured much unpleasantness. About five months into the bankruptcy Miss Piggy and I parted ways. Subsequently my Gran passed away and Miss Piggy moved out leaving me to cover the rent and replace some of the household materials she had contributed. No one told me it would be like this!

Finding the information you want about bankruptcy isn’t always easy. Yes there are plenty of sites offering services and solutions to your debt problems but no real perspective from someone who has recently experienced bankruptcy themselves. After all it should be obvious now, bankruptcy never comes at a good time and it’s not just our possessions we stand to lose. Sometimes our dignity and loved ones disappear too.

When considering bankruptcy I didn’t know where to start. All I knew is that my debts would be wiped and my credit history destroyed. I had a million questions whirling around in my head and needed to know:

  • What can I expect when going through bankruptcy?
  • What would be the affect on my partner?
  • Can I avoid bankruptcy?
  • What will happen to my assets?
  • When should I declare myself bankrupt?
  • What will happen at the bankruptcy court?
  • What will happen after bankruptcy?
  • What are the consequences of bankruptcy in relation to me?
  • Where can I get bankruptcy advice and help about bankruptcy alternatives?

I hope that by describing my experience I can answer some of these questions for people who are considering bankruptcy or are actually experiencing the effects right now.

One important factor to stress:

If bankruptcy is being considered as a course of action it’s essential to take advice. It’s thanks to good advice from a number organisations that I avoided some of the sleepless nights people manage to go through for months and months.

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