Debt Help

[emilia]

I've had a friend on the phone from UK. She's so upset - £18k in debt and a debt collection agency wants it all by tomorrow. What can she do or who can she contact?

What's your experience or advice on this? Anything will help.

Ta very much
Emilia xx

 

[x-kirsty-x]

bloody hell, they cant ask her for it all at once can they???!!! she should go to the citizens advice bureau ASAP xx

 

[hannahbet20]

has she had warnings and chances to pay before i suggest to go to citezens advice and not to answer the door to debt collectors if she can offer to pay on a payment plan and stick to it she may have to go bankrupt or the can take away her possesions but i do think the best thing to do is speak to citezens advice or a solicitor about her situation, bankruptsy may be an option if she has no way to pay.

xhannahx

 

[Layla]

me and jase are in 35 thousand in debt!

we were struggling really bad but then i phoned a debt managment company, there are loads but the one im with is called gregory peninton, they are great!

they took over all my debts and contact the crediter direct and got all intrest frozen, then reduced out monethly payments by half.

now we pay them a set amount every month and they divide it up and pay the debts for us, we dont get any hassle from the crediters, no nasty letters, its all calm.

and in 5 years, what ever debt is outstanding, will get ritten off!

tell her to give them a try, she doesnt have to sign up if she doesnt like what they tell her

0800 298 9265

xx

 

[weestar21]

hi hun were in 20k debt we went to money matters through the concil and they have contacted all the people we owe money too and basicly told them if they dont accept £2 a month as a token payment they wont get anything so they have all accepted it

i know how stressfull and worrying it is

send my best wishes to her hun
xxxxx

 

[Rosebay]

There's a national debt line run by the government I'd call that:-

http://www.nationaldebtline.co.uk/engla ... advice.php

Debt Advice | England & Wales

If you're looking for advice on a debt problem there are several ways you can obtain help and information.

PHONE US on Freephone 0808 808 4000

I was just looking at their factsheets and I think there are some things you can do pretty quickly

Hope she's ok, how scary for her
+++

 

[emilia]

Thanks everyone. Your advice has been priceless. I think she'll get it sorted, but I know she's tearing her hair out!

Will pass on the info Layla, Thanks for that!

Emilia xx

 

[kellie80]

I think what Layla has done is the best option. We decided to declare ourselves bankrupt as we had no secured loans and we didn't own our house so alls we lost was our credit rating which was what got us in troble in the first place.

 

[Rosebay]

I think that if a baliff turns up at the door she doesn't have to let them in:-

(This is from that government website)

APPLYING TO SUSPEND A WARRANT OF EXECUTION

If you do not make payments as ordered by the court the creditor may issue a 'Warrant of Execution' This warrant authorises a county court bailiff to take away your possessions and have them sold at auction. Usually, you will have some warning such as note from the bailiffs telling you they intend to visit. It is usually quite easy to stop this happening.

YOU DON'T HAVE TO LET THE BAILIFF IN.
The bailiffs are not allowed to force their way into your home unless you have let them in on a previous visit.
Back to the top of the page

Phone us for advice 0808 808 4000


WHAT IF I HAVE ALREADY LET THE BAILIFF INTO MY HOME?

There are some goods that the bailiff cannot take: e.g. tools, books, vehicles and equipment necessary for use personally in employment. Other exemptions include clothing, bedding, furniture, household equipment and provisions for "basic domestic needs". The bailiff won't usually take away goods on a first visit. They are likely to ask you to sign a "Walking Possession Agreement". This allows you to keep using the items listed on the agreement, but means that the bailiff can return and take the goods by breaking in if necessary.

Even if you have signed a Walking Possession Agreement you can still apply to the court for the warrant to be suspended.
Back to the top of the page

Phone us for advice 0808 808 4000

 

[weestar21]

I think what Layla has done is the best option. We decided to declare ourselves bankrupt as we had no secured loans and we didn't own our house so alls we lost was our credit rating which was what got us in troble in the first place.

were in the prosses of doing this hun but its going to take us another month cos all the debt is in oh name so hes transferring all his wages to my account so lloyds tsb cant just go in and take what they like out cos today they have taken £230 out for a loan we have with them so now we dont have enough to cover our rent this month at £450.

Do you think your life has improved by going bankrupt?

 

[Layla]

we thought about declareing bankrupt but we would have lost the house, we have only just manged to get a morgage so we didnt want to get knocked off the ladder again.

thats why we went for the IVA programs, in 5 years we will be debt free

xx

 

[Hypnorm]

We remortgaged our house to wipe out all our depts and reduced our ourgoings by about 300. And we have our mortgage at a fixed rate so at least we know exactly how much is coming out every month on the mortgage, just over £800 a months plus bill etc not fun but at least the loans have gone now. i hate owning money but we still have a morrtgage to pay off

 

[kellie80]

Do you think your life has improved by going bankrupt?

Yes it has. We have had no hassle from any of the lenders cos there not allowed and we are now completly debt free and i love it. A big decision though! The only thing that bothers me is not being able to get a debit card and i feel so lost without one but i was so impulsive before and if i wanted something i would buy it if i could afford it or not. The bank will only give me a basic account and even though i've been discharged now they won't give me one for 6 years.