Help Up To Neck In Debt

[nuttyblond65]

Hi don't know if I'm posting this in the right place, but I've just got a few questions that I hope someone might be able to help me with.

Here goes, four years ago I was made redundant from my job but it was only agency work so didn't get any redundancy money. I haven't worked since due to ill health, only receiving incapacity benefit. I owed loads of money out but managed to negotiate with my creditors a repayment plan.

At the same time my husband was made redundant but managed to get a job six months later. The upshot of it is that he is going to be made redundant again and will only get four weeks pay as his redundancy package.

This means I will not be able to pay my debts again so the creditors will be harassing me, my questions are can they harass my husband for payment none of the debts are in his name they are all mine, can they remove items from the house for the debts again everything has been bought by him including the clothes I stand up in. Can they make him sell the house to pay my debt again it is in his name not mine. The only thing with my name on are the debts that I have run up, ( stupidly I know). I am concerned that the kids and him will suffer because I couldn't control my spending.

Would bankruptcy be an option for me.

Any help would be appreciated.

thanks nutty

[dx100uk]

woe.....slow down.

 

the only debts that can result in bailiffs taking stuff or threatening your home are council tax/rent/loans secured on your propery.

 

if they are storecards, credit cards etc , then it will never result in such drastic action. so stop worrying on that from.

 

might be an idea to give us a few details of who the debts are with & for how much, age etc are they still with the card Co. or are some with DCA's?

 

more info please...

 

dx

[creditcardmug]

Ok you need to chill a bit.

 

Can you list these debts,i.e. credit card/store card/loan etc., and say how old the accounts are and roughly how much.

[nuttyblond65]

Hi thanks for your replies, all the debts are over four years old. They are all in the hands of DCA's. I owe £2300 on M&S visa, £1600 on M&S storecard, £2116 empire stores, £1500 evans storecard, £7895 unsecured loan, £2395 Associates visa, £1900 tesco visa, £2100 capital one visa, £1545 littlewoods catalogue, £1583 natwest visa, £1675 virgin visa, and I am also overdrawn at both of my banks natwest £800, barclays £920 so as you can see I've got myself in a bit of a mess of which I'm not proud of but when you're working you think you can afford it all and then when you loose your job you realise what a hash you've made of everything. Anyway less of the feeling sorry for myself any advice would be much appreciated.

 

thanks nutty

[maroondevo52]

Hi, nutty.

 

I'll move this thread to the Debt Collectors Forum, you'll get good advice in there.

 

Regards.

 

Scott.

[alfwithhair]

Hi thanks for your replies, all the debts are over four years old. They are all in the hands of DCA's. I owe £2300 on M&S visa, £1600 on M&S storecard, £2116 empire stores, £1500 evans storecard, £7895 unsecured loan, £2395 Associates visa, £1900 tesco visa, £2100 capital one visa, £1545 littlewoods catalogue, £1583 NatWest visa, £1675 virgin visa, and I am also overdrawn at both of my banks NatWest £800, barclays £920 so as you can see I've got myself in a bit of a mess of which I'm not proud of but when you're working you think you can afford it all and then when you loose your job you realise what a hash you've made of everything. Anyway less of the feeling sorry for myself any advice would be much appreciated.

 

thanks nutty

 

You say they are all with DCA's

Are all these account about the same age (4 years you say)

When did you last make a payment on any of these debts?

Who is the unsecure loan with?

Have you ever sent a CCA request to any of these DCA's to ensure they have to legal right to collect?

 

Looking at your list of creditors, there is a few on there that may not be able to supply the required document.

[nuttyblond65]

Hi alfwithhair,

sorry about the length of time it took me to reply but my hubby received his letter of redundancy on tuesday one months notice, so worrying about that and my debts my health has been going downhill rapidly. right i originally took the unsecured loan out with a company called royscott, about 15 years ago, they put me in court I offered £5 a month which was accepted then about five years ago the debt was bought over by wescot who after a few letters and copies of the original court decision accepted the £5 which i am still paying. all the other debts are with dca's some may be a bit older approx 5 or 6 years the others are 4 years old. i have paid them all religiously every month. some i pay more than others because thats all they would accept its been a stretch because i dont work due to ill health i am on incapacity benefit, but because hubby was working he used to help me out a bit. when his job finishes i wont be able to maintain my current payments and i am worried what to do next. i am so stressed thinking about the hassle im going to have trying to negotiate with these people, any advice would be great.

 

nutty

[esmerobbo]

Hi I know its difficult but try and take a deep breath and look at the whole situation. You are a long way from having anything worrying if anything can happen to you or your family and with advise from here I am sure you will be fine.

 

Adding your total debts together it comes to £28329 you say you have no assets in your name at all. If this is the situation you have to ask yourself will I ever really be able to pay this money back?

If you are ill then any work in the future would be difficult and this debt could be adding to your ill health, even if you were able to get a decent job in these times paying back your total debt would be very difficult.

Assuming once again you have no assets at all I would consider bankruptcy but I would take serious advice on the situation first.

CAB or depending where you live you can find agencies who can help with advice. Its not an easy way out if can be difficult but it is something you may wish to consider.

[gizmo111]

More info on solutions /BRhere

 

Have you claimed back charges on these debts? The associates which is now citicard will have loads for a starter.

 

First I would SAR each of these accounts and see how much you can claim back in charges - then see how much this reduces the overall amount. In the meantime write to them all and offer token payments of a £1 per month.

[creditcardmug]

Right, here is my suggestion,

 

In the 1st place contact CCCS, they will make a telephone appointment with you and go thro all your debts, and produce an income and expenditure summary to send to all your creditors, along with an offer of payment, this may only be £1 per month.

 

Dont leave yourself short, when they ask how much you spend on living expenses etc.

 

This will put you in a much better position to start picking these off one by one in a few months time, once you have set up this arrangement.

 

Dont worry this can be sorted out...keep coming back to this thread, with anything that is worrying you.

 

Just type CCCS into google and apply online, its a charity paid for by the banks...so wont cost anything...im not saying its the answer to all your problems, but initially it will put all this on a stable footing, so you are not constantly worrying about it, and will enable you to start working thro all this.

[nuttyblond65]

thank you everyone I will follow your advice and let you know the outcome, just an after thought can I still claim charges even though I've been paying these debts through dca's.

 

thanks nutty

[maroondevo52]

just an after thought can I still claim charges even though I've been paying these debts through dca's.

 

Yes, have a look at the step-by-step..........

 

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/31460-example-step-step-instructions.html

 

Regards.

 

Scott.

[Trojan1401]

Just a note to add about the CCCS. They've helped us tremendously and do not judge. They will help you back on track with manageable payments. When some of your creditors realise you are under profesional guidane, they may infact offer lower settlements.

You've nothing to lose in using them..they are there to help.

[nuttyblond65]

hi just a quick update on my situation, well my husband was made redundant earlier than we thought. I went on the cccs website and did an online debt remedy solution what a good site they certainly put everything into prospective, anyway I am now in the process of making offers of reduced payments so I'll let you know how I got on, and thanks everyone for your advice.

 

nutty