Please Help! A new user would appreciate any help or advice

[pablo3198]

Hi, this is my first time here.

 

I would appreciate any help or advice.

 

Here's my situation.

 

I've been self employed for over 12 years, and up until the last 2 years everything was fine, then I was struck with ill health. Firstly I was diagnosed with Crohn's and then more recently with Bi-Polar disorder (Manic Depression). Which has made it extremely difficult for me to function as a self employed person, and has also made some of my business decisions look rather stupid in the cold light of day.

 

Any way, all of this has lead me to my current position (All my own fault I know), with the business having gone down the tubes, and me now being chased by a load of creditors, and to be frank crumbling under the pressure.

 

I owe...

 

1. Lloyds TSB, £10,000 for a business overdraft (Personal Guarantee, Unsecured).

2. HSBC, £45,000 for a business overdraft (Personal Guarantee, Unsecured).

3. NatWest £25,000 for a business overdraft (Personal Guarantee Unsecured).

4. Barclays £25,000 for a personal overdraft (Personal Guarantee Unsecured).

5. Alphera Finance £15,000 for the shortfall on vehicle finance.

6. Plus a selection of around 4 credit cards ranging from £600 to £5,000.

 

I have some equity in my home (But this by rights belongs to my ex-partner). But I'm looking for any help or advice to put the debt collectors in there place. I only have benefits of £100 per week (ESA) and the phone must ring at least 12 times per day with creditors chasing, plus visits to the house from the likes of Bristow and Sutor.

 

I am a reasonably intelligent person, but I cannot cope at the moment, I'm scared to go out of the house in case the likes of Bristow and Sutor call (My wife is 8 months preganant and I don't think she could cope with the likes of those people walking in) and I cannot answer my phone any more.

 

I really at the end of my teather, I cannot cope any more, and just feel like ending it all. I would really appreciate any help, advice or practical suggestions to start a plan to get these creditors sorted.

 

Thanks for listening.

[rebel11]

Hi pablo

 

Welcome to CAG

 

The guys will respond shortly. You've come to the right place.

 

Just a question, you were self-employed, were you mis-sold PPI on any of accounts, loans or credit cards?

[pablo3198]

Yes, I'd been paying some form of protection insurance on all of my cards (Capital One, Barclaycard and Citi) up until recently.

 

I had asked each one about the PPI issue, but I just got fobbed off. I was in such a bad state physically and mentally that I even forgot to ask them to 'Activate' the so called PPI, due to the fact that I was ill and not able to work.

 

But they've done nothing, except to pass my details on to credit collection agents (Even though I have asked them to stop chasing, freeze interest and have sent them each £10 per month as some form of payment).

[Rocky Roadster]

Hi Pablo,

Welcome to the site.

I can relate to your situation, running a business, health issues and in my case, borrowing more to pay the other creditors on the basis of future promised contracts. Don't blame yourself, it doesn't help. I leave the allocation of blame to my wife.

 

This site is excellent and with the advice received, I have managed to stop the calls, block visits and take control over my debts, to an extent. Some of my debts are unenforceable due to the creditors not meeting the legal requirements and you can get advice here. The DCAs / banks use some horrible bullying techniques and some possibly illegal tactics, so I have no qualms.

 

My experience is that you will get more response from the sub forum after this one, dealing with debt collection agencies. A lot more people look at that one.

 

You can write to the DCAs and demand that they stop harassing you by phone. There are some good templates in the library here. You can also have calls blocked by BT up to 10 numbers free for a month.

Refuse to speak to them on the phone. Don't give them security details over the phone. They ask for more information each time for their database. This is their number 1 bullying technique.

 

There is a template letter that will stop them visiting. They are not allowed to send bailiffs in without a court order.

There is a lot you can do.

 

I am still learning and struggling with my own position, so hopefully you will get some good advice from some of the more experienced caggers.

 

Good luck,

[ploddertom]

I note you say you have had visits from Bristow & Sutor - are they acting in their Bailiff capacity? Would it be possible you could explain a bit further about their involvement as it is possible to give you advice on how to stall them.

 

PT

[Tingy]

Hi and welcome from another (but very experienced) newbie! My advice would be to send a prove it letter to all your creditors first. You'd be surprised what this can achieve, state that any further correspondance MUST be in writing. They won't like this, but you have the right to insist that all contact is in writing, then stop answering the phone to them. If necessary change your number and just give it to those you trust. Make sure that all debts have been properly assigned, then post back for the next steps. You do have a lot of debt so we can't pretend anything is going to be easy, but you have to start tackling things somewhere. You've admitted the situation to yourself and us now - well done for that! Now we take one step at a time. Send a prove it letteer to all your creditors and see what they come back with. Don't forget say you will only communicate via letter and stop talking to them on the phone at all.

[sir_gilmour]

Hi

Welcome to The Consumer Action Group.

 

 

I am just letting you know that as you haven't had any replies to your post yet, it might be better if you post your message again in an appropriate sub-forum. You will get lots of help there.

 

Also take some time to read around the forum and get used to the layout. It is a big forum and takes a lot of getting used to.

 

 

Once you start to find your way, you will soon realise that it is fairly easy to get round and to get the help you need.

 

It can be bit confusing at first.