Young and free spending when I started working within London's financial sector led to the purchase of a house, a new car and eating out in restaurants at least a few times a week Life was good and within no time, I had a mortgage with Northern Rock, a second Mortgage with Northern Rock and a third Mortgage with Firstplus When the bubble burst in Finance, I lost my job and could no longer afford to keep the house. I had to sell the car and move into rented accomodation with my family. Since leaving my house in 2006, I have been chased by letters from Northern Rock, Firstplus and several DCAs for the remainder of the mortgages. I have no assets and have been burying my head in the sand waiting for it to go away. - Northern Rock (£55K Owed) - Recently, one of the DCAs has offered a one off settlement of £15K or repay the full amount at £250 per month. - Firstplus (£20K Owed) - No offers, but chasing letters every couple of months As I have no assets, I am considering Bankruptcy as I would prefer to start fresh rather than paying £250 for about 20 years, (and that is without even taking into account the Firstplus debt) - I have looked into bankruptcy for £450 Has anyone reading this had the same experiences with Northern Rock / Firstplus? I am wondering whether they would prefer a payment arrangement agreed now to cover a small amount of the loan rather than accepting what they are given when I'm declared Bankrupt - Please let me have your view on this Thks ScoobyDooby09 -- Nothing Claimed -- -- Nothing Reduced --