Hi Bronte
The bankruptcy company I am dealing with are also debt management practitioners. They came highly recommended by a guy I work with.
As costs go we are talking anywhere from a few hundred pounds to a few thousand depending on the enormity of the debt involved.
When you get over making that initial telephone call it feels like a weight has been lifted off your shoulders. I am a grown man but I sat for hours and cried my eyes out, I am embarrassed to say!
I have been working two low skilled, low paying jobs, to pay 66% off the interest on my mortgage. The bank was not happy so I took the liberty of contacting the UK. I doubt they will be happy when they see I am calling it a day and filing for bankruptcy!
I couldn’t continue the way I was going. I was getting four hours sleep per night. My health was beginning to suffer and I felt I Was being treated like a criminal by my mortgage provider. It was a no win situation.
I have learned a lot from taking these first steps. It’s been an education to say the least. Firstly the powers that be done everything they could, by putting rule after rule in place to prevent these UK debt management companies getting a piece of the action over here. Insolvency and debt management have been going on in the UK since time began so there was nothing these guys couldn’t overcome.
Secondly very little repossessions have occurred in this country anyway, so they expect a surge within the coming months if the banks stop playing ball.
Lastly, the Irish institutions have been lenient on borrowers compared to that of the foreign based lenders in the country, who have every intention of going to court.