• at September 29, 2018

    I am, unfortunately, considering filing for bankruptcy. I do not know what steps are involved or how to go about it. Who do I call?

    Is there anyone here who has filed for bankruptcy as well? Did you manage to get back on your feet? I almost feel like this is the end. I don’t have much hope any more.

  • at October 29, 2018

    Hey, listen to me. I’ve been there. Yes, it may be an awful situation. You may wish it wasn’t happening. I get that. However, start dealing with the reality first. Do not start thinking in a “what if” way. I wish someone had told me this when I went through mine.

    I strongly suggest a couple of things here. Firstly, if you have good friends, I mean REALLY good friends, try to talk to them for support, not for financial help. It can be really hard being alone. You need help to deal with the times when you are feeling really down, which can be a lot of the time.

    Secondly, contact a Licensed Insolvency Trustee. I received a lot of help and advice from Harris & Partners and I urge you to contact them for help, not just with this, but afterwards too, to get you back on your feet.

    • This reply was modified 1 month ago by  Hope.
    • This reply was modified 1 month ago by  Hope.
  • at October 29, 2018

    Actually, you need to contact a Licensed Insolvency Trustee and talk things through. There is a chance that it may not come to filing for bankruptcy, so don’t jump the gun.

    Speak to the professionals regarding your financial options. If they agree that bankruptcy may be your only solution to wipe off debts, then they can start the ball rolling. They are the only ones licensed to do so.

    If you have people phoning you asking for payment, if you are missing payments, if people are taking legal action against you, then you may have to file for bankruptcy.

    • This reply was modified 1 month ago by  Hope.
    • This reply was modified 1 month ago by  Hope.
  • at October 29, 2018

    Your bankruptcy trustee will provide you with paperwork that needs to be filled. You need to divulge your personal information. You also need to state what assets you have. You will have to provide a list of all your creditors.

    Once you provide all the information and you go through it with your trustee, you will then have to sign these papers. Your trustee will then begin the bankruptcy process.

    This means that your trustee will inform all your creditors that you are filing for bankruptcy. Any legal action against you will then stop. Any collection agency that has been harassing you with phone calls will also stop. If not, you need to tell your trustee.

    All of your debts will then be cancelled. This will affect your credit report, of course. It will contain information regarding your bankruptcy.

  • at October 29, 2018

    It seems so final. I am not looking forward to this, that’s for sure.

  • at October 29, 2018

    That’s natural. But it is also time for you to move on. Remember, you were struggling with this, with huge debts over your head. Now, you debts are eliminated.

    Your trustee will advise you on how to manage your finances and get back on your feet. Nothing is easy, but slowly, it can be done.