I'm new to this forum and hoping for a little bit of help and advice, if possible.
I owe cira £20k on credit cards and loans.
All were taken out within the last 2 - 3 years and, as yet, I have not missed a payment on any of them.
The breakdown is as follows:
Nationwide Loan 8k (taken out 2015),
Nationwide Credit Card 5k (taken out 2014),
Virgin Money Credit Card 4k (taken out 2016),
Sainsbury's Bank Loan 3k (taken out 2015).
Like I said, to date I have not missed a single payment on any of the cards/loans (I'm frightened to do so)
but due to a big change in circumstances I most definitely will be missing payments soon.
I suffered a heart attack a couple of years ago and have been struggling in my job ever since as it was a very physical.
Unfortunately I had to give it up in June this year as it was affecting my breathing.
At the time I lived in England but moved to Northern Ireland to be near family last month and for a new start and less stressful life.
I am not currently in employment and as yet,
I have not tried to claim any benefits (I struggle with that concept).
Up until now I have been living on what little savings I have but these will be exhausted in the next few weeks.
I've read through a lot of the threads on here but am getting very confused.
I guess what I am asking is for some advice on what to do first.
Should I let the debts default?
Or should I contact the lenders now, before that happens?
I'm in Northern Ireland so I know the rules regarding debt is slightly different.
Any advice would be greatly appreciated.