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By Petal
#10715
Hi all,
I don’t really have a question; I would just like to share my experience with my debt problems.
I moved to the UK in 2002 and did really well at my job. By the end of 2006 I bought my own property with my partner and thought things couldn’t be better. Then we split up and all went wrong from there. I bought the flat with the help of the financial advisor and two months into paying the mortgage I realized that I am struggling to cope with basic things like petrol for work or food shopping. I had a credit card which was all paid off and started to use it when my car broke down and I couldn’t get to work due to where I lived. I had the car fixed, and the boiler broke…it just seemed like a never ending story and before I realized I made the minimum payment on my card and had no money left after paying the bills. I spoke to my bank and asked for a loan, which had much lower interest rate to clear the cards and close them down, but they said they couldn’t help me as I had too much credit. At this point I never missed a payment and wasn’t asking for additional credit.
I ended up with 12K debt and a mortgage that I couldn’t pay and decided I had to sell the flat and go renting. The problem was the market crash and the redemption fee on my mortgage. I should have contacted the financial adviser then, but I felt ashamed admitting I can’t cope, so I asked my mum to help me out and she did. It got to the point where I couldn’t ask her anymore and I ended up with my flat being repossessed. I then moved into a rented property with my unemployed husband…these days ex husband.
I got in touch with the debt advisor (let’s call the company A), who suggested bankruptcy as I had nothing but my clothes by then. I agreed and paid him the fee of 400 pounds. I then panicked as I read the implications and asked for an IVA instead. It took about 6 months for the IVA to be agreed, but he said he couldn’t help me and passed my details on another company (let’s call it company B). He also said that I will have to start making the payments to company A immediately and the money will be passed onto my creditors, so if they call I need to tell them this. I did as I was told, but the creditors haven’t stopped ringing and they were saying that they haven’t heard from anybody calling on my behalf. My IVA finally went through and I set up a direct debit on my account.
Few moths later I have gone through a very stressful experience with my ex husband and I fearing I could get seriously hurt I went to the police and shortly after left the country. When I came home I had no job, I was not entitled to a job seekers allowance in either of the two countries, although my country is a part of EU, within which I worked for the past 12 years. This lead to failing the IVA and I was back to square one.
I spoke to the debt management company B and asked about payments that I made, whether the creditors received those as they were part of my IVA, but they advised me to contact the company A. When I did so, the debt advisor was always in a meeting or out of office and there was no response to many e-mails I sent to him. I therefore contacted the company B again and ask them to help me with a bankruptcy petition, but only to be told, that the creditors don’t agree with it and they couldn’t help me. I went back to the company A asking the same question (silly me as I should have known better by now, but when you under this much pressure you don’t think clearly). Suddenly I had a response straight away. I paid more money to company A, spent an hour on a roaming call that wasn’t cheap either and my court case was set. I borrowed more money of my mother and set off on a journey back to the UK to my local court. It was a huge shock when the judge told me I only had three months to do this and that I should have applied for bankruptcy in my own country. I was only one week short of three months then. I came home absolutely distraught. No need to say that the e-mails to company A were not returned again.

I enquired about going bankrupt from Slovakia, but no one could give me an answer on what I needed to do as this law has only been in practice in about two years. All they knew was that I would have to pay a lawyer and a professional interpreter, so it wouldn’t be cheap and when I heard the costs I almost collapsed. I realized I hit the end of the tunnel and my life was over. I could not see a way of getting the situation under control. I was in such state I could not sleep and I started having problems with my stomach.
One night I decided to search the internet for going bankrupt from abroad and found Beat My Debt website. I posted an e-mail quickly explaining my situation and asking if they could give me any advice at all. I had a response the next morning and James Falla has been excellent right from the start. This was a new situation to him also, so he had to do some research and advised me to try the high court in London. He was honest with me and said that there was truly only a 50/50 chance of success, but thought it was worth it. He found out that there was no law stating the l3 months period, but it was general practice. He said that the company A should have sent me to London in the first place as that is what you do when you don’t permanently reside in the UK. He read my application and helped me to make some adjustments and what surprised me, he didn’t ask me for any money at all!!! It took me few months to get the money for the trip together, but a month before I set off to the UK I spoke to James again and let him know I was going. He asked me for the day I was going and also asked me to let him know how it went.
When I came to court I was told the 3 month rule and broke into tears. The employee of the court asked me if I was ok and I told him the whole story. He told me to wait and went to speak to somebody and then came back and asked me to put all this into my application. When I came back that afternoon as instructed I learned the bankruptcy has gone through.
My advice to all of you guys who have money worries is to deal with it straight away and do your research before you start paying money across!!
I would also like to thanks James Falla and beatmydebt.com for helping me to resolve my situatuin. You have changed my life!!!
User avatar
By Geraldine
#10721
Hi there Petal and welcome to the forum

Thank you for sharing your story with us. It sounds as though you have really had a pretty rough time but I am so pleased to hear that everything has been resolved, you have been made bankrupt and that you can now get on with building your life. Can I ask whether not you have already spoken to the official receiver and how that went? I am sure it will be fine. :)
User avatar
By Steve Jackson
#10728
Hello Petal

I have been very interested in reading your post. I am only sorry that you were not provided with better advice up front by the company you origionally dealt with. I am extremely pleased that James and Beat My Debt have been able to step in and help you and that you can now get on with your life. Please let us know how things go.