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really worried

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  1. I have been in contact with Asset recoveries who say they are acting on behalf of Phoenix recoveries and require me to settle a debt from around 1997 or so when my home was sold in a distress sale due to my marriage breaking up . National Home Loans forced me to sell at a loss , when they were aware of an offer on the property which would have cleared my mortgage and left me a little over . The property was sold to the same person but through an estate agent appointed by NHL who took a much lower offer and left me £7000 in debt to NHL .. I have been paying £10 monthly to NHL until recently when Asset Recoveries demanded that I now make the payments to them as they had been assigned the debt . now they want to make me Bankrupt and force me to sell everything to repay the debt which is just under £6000. They have said on one occassion that I could make "their client" an offer in respect fof clearing the loan .. I might be able to do that it it wont be more than 50% of the debt as I have no access to funds other than borrowing from a friend ..what should I do ..These people are not nice to deal with , so far its caused a breakup of my relationship , huge stress in my life and problems at work . I have till Feb 22 to contact them at which time they want me to complete an income and expenditure form and be paid accordingly in line with any other debts I have . I do have a bank loan and a couple of credit card bills which I want to continue to pay off, but if I have to pay Asset Recoveries a properionate amount that will mean I have to default on the others and be in debt to them all ...
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