can i save my home?

[kestrelav]

can anyone give some advice please excuse me if i am not approaching this in the right manner
as im new to the forum over the past 4 years i have got myself into 80.000 in debt this is
split between credit cards and loans all because i have been ill and cant work due to hart problems
i am now getting the kind of threatening letters and phone calls i hear other people talking about
on the forum i have been advised by people i know to go bankrupt the problem i have is the
flat we own outright is all we have left and that's not worth alot but its a roof over my kids
heads is there any way i can sort this out without loosing our home any advice will be
helpfull as we are at our wits end

kestrel

[Hceo]

Take Immediate advice, Citizens Advice may be able to advise you best.

If you have started bankruptcy proceedings you will obtain an ammount of court protection, and therefore cannot be forced out. I believe thats how it works in England, maybe not Scotland.

Get the Advice soonest . . . .

[kestrelav]

hi thanks for the quick reply i dont have bankrupcy prociding underway
at the moment the debt is split between credit cards and 2 bank loans
i will try cab if you think they may be able to help

regards kestrel

[Hceo]

Hi Kestrel,
You must take legal advice, if you go to a Sol you will have to pay, the CAB are free and i believe in a better position to help you.
Regards..

[rory32]

Bankruptcy in Scotland (sequestration) is slightly different to England and you are more likely to lose your home - although I must stress you won't necessarily lose your home. You can only petition for your own bankruptcy (self sequestration) if you you owe more than £1,500 and a lender has served:

1. a Charge for Payment and fourteen days notice have elapsed or,
2. a Statutory Demand and 21 days have elapsed or,
3. an Earnings Arrestment as a result of a Charge for Payment.

If a lender has served none of the above, then the agreement of a lender (or lenders) is required.
Have you looked at other options such as a Trust Deed or a Debt Arrangement Scheme?

A number of useful contacts are:

National Debtline Scotland
FREEPHONE: 0808 808 4000
Monday to Friday 9am to 9pm
Saturday 9.30am to 1pm
24-hour voicemail. Please leave a message to request an information pack.

Debt Help Scotland
24 hours a day, 7 days a week on Freephone: 0800 0150607
Or e-mail your enquiry here

Scottish DebtLine
8am to 8pm Monday to Friday FREEPHONE 0800 138 3328

[RFC1872]

Originally Posted by kestrelav

can anyone give some advice please excuse me if i am not approaching this in the right manner
as im new to the forum over the past 4 years i have got myself into 80.000 in debt this is
split between credit cards and loans all because i have been ill and cant work due to hart problems
i am now getting the kind of threatening letters and phone calls i hear other people talking about
on the forum i have been advised by people i know to go bankrupt the problem i have is the
flat we own outright is all we have left and that's not worth alot but its a roof over my kids
heads is there any way i can sort this out without loosing our home any advice will be
helpfull as we are at our wits end

kestrel

Other options you can consider would be, seek out a money and law advice centre - do a search in google for one in your area. Also your local authority may have money advice workers who can be excellent in these cases. But most importantly dont be scared to confront the issues. If start to confront them ASAP you will get some control over your options. Mind and let us all know how you are getting. You may want to look at Consumer Credit Request threads especially as you suggest there is a lot of the debt on credit cards. But most importantly go and get the advice.

good luck

[rory32]

Other options you can consider would be, seek out a money and law advice centre

The only Scottish Law Centre I am aware of is The Govan Law Centre. You can find their contact details here You can find your closest Money Advice Centre here

may want to look at Consumer Credit Request threads

I think you mean threads dealing with requesting a copy of the Consumer Credit Agreement.

[RFC1872]

Originally Posted by rory32

The only Scottish Law Centre I am aware of is The Govan Law Centre. You can find their contact details here You can find your closest Money Advice Centre here I think you mean threads dealing with requesting a copy of the Consumer Credit Agreement.

Hi Rory,

There are a number of money and legal advice centre in Glasgow alone, two of the top off my head are Drumchapel Advice and Advocacy Glasgow debt benefits and Castlemilk Money and Legal Advice centres. Both have a number of Outreach centres. And yes i did re your last sentence.

cheers