A year or two ago I applied for a credit card for people with bad credit,

it started off with a £500 limit and every three months they increased it and I accepted until I had a £6,000 limit.

I reached the limit recently and can't afford to make any payments,

I'm unemployed claiming ESA for severe long-term mental health problems.

I don't have any assets, a car, or own house etc.

I have no idea what will happen next?

I'm trying to prepare myself.

Will I end up with a CCJ (which I'd deal with) or will I be forced bankrupt to get back at me,

the fear of being made bankrupt is making me feel sick and unable to sleep.

I barely leave the house and never speak on the phone because of my anxiety I could never go through that sort of process. I can't get the debt under £5,000 either.

What will happen!?

Who is the credit card provider?

Stop worrying too, there are far worse things than bankruptcy if it ever came to that, sometimes bankruptcy can be a good thing!

It's Aqua.

Have you contacted them to explain things? They could offer a low repayment, even £1 or so a month untilyoure back on your feet. Make sure that interest and charges get stopped too.

I tried that and I'm waiting to hear back from them.

Are you still receiving letters/calls etc from aqua or has the account been sold to a dca?

Have you been unemployed all the way through your relationship with Aqua and were they aware of this whilst they were busy increasing your credit limit ?

Have you been unemployed all the way through your relationship with Aqua and were they aware of this whilst they were busy increasing your credit limit ?

very good question?

Yes I was, I know it's my fault for accepting increases but I never meant to max it out it just got so tempting to pay for things that way. Telling myself it's fine when it wasn't.

Yes I think it might have been passed to a debt collector because they aren't responding to my letter yet and I've missed multiple minimum payments.

They should have never increased the credit limit and they know it. Their target market is people who are financially illiterate, if I may put it rudely, so they arent going to get their customers hauling them over the coals or speaking to friends in high places about it.

Basically, offer to pay a realistic sum and ask that the interest charges be suspended. they have massively breached lending guidelines and they know it so they will be willing to co-operate.

ignore any dca, they have no authority to decide anything and will be lying if they claim otherwise.

Yes I was, I know it's my fault for accepting increases but I never meant to max it out it just got so tempting to pay for things that way. Telling myself it's fine when it wasn't.

 

Yes I think it might have been passed to a debt collector because they aren't responding to my letter yet and I've missed multiple minimum payments.

Whilst you should accept some responsibility - the lender is definitely guilty of irresponsible lending which should help you negotiate a lower repayment schedule.

Draw up a sensible budget for all your income and expenditure - any repayment offer should be made from whatever is left.. if anything.