Sheriff officers & Retail bank Collections

[skymaclachlan]

Hi everyone,

 

I have a major problem i have a court order from Blackhorse as I could not afford the payments I agree'd to pay £260 a month dont no why coz I couldnt afford that! So they sent out Sheriff officers i made an agreement to pay £80 a month as this is all i could afford but now i have lost my job im on jobseekers so cant pay but got a leter on the 1st demanding money or Sheriff officers will be back ! what can i do?? Also got a hbos letter sayin a Rep is comin to my house next week !!! this is for my overdraft!! i feel like i should go bankrupt but dont really want to ?? any advice??

 

cheers

[skymaclachlan]

blackhorse is car finance £10,000 overdraft is £1000

[Man in the South]

If the car is on hp then they can take it back and you will still be liable for the debt. If you go bankrupt you will still have to give up the car but the other charges etc. will be wiped out. It is a serious thing to go bankrupt and I would suggest that you take some advice first especially if you have any preoperty etc.

[iwwahceo]

It is a serious thing to go bankrupt and I would suggest that you take some advice first especially if you have any preoperty etc.

 

This guy knows his stuff!

 

It is a serious thing bankruptcy, can affect you for life, just when you need that car loan or credit card etc. This really is a last resport, in the first instance, i'd consider an IVA if anything. Expensive but far kinder to your credit file!

 

As for your debts, send a "means form" into the firm. Outlining income and expenditure and setting out payment amounts etc. The HCEO firms HAVE to put this offer to the solicitors if it's all you can afford. They may turn up at your door but they won't take anything, not from a private house.

 

Just be honest, on time with your payments and keep in touch with them abotu your situation and things will smooth out. Send them atleast something and this should stop any more visits. If you get the letter to them sharpish about your means and show that your pretty skint at the moment, this will probably also cease any further visits.

 

Pay it, or consider IVA. But don't go B/R you'll regret it.

 

P.S Don't use those crappy debt IVA firms, trust me, they want money for nothing. Instead enquire with the O/R.

 

Cheers

[Man in the South]

I would concur with comments of iwwahceo - be very careful and go to a reputable company or even direct to the official receiver for an IVA. Many of the other companies (not all) will just fleece you.

[iwwahceo]

I would concur with comments of iwwahceo

 

alas - a fan!