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Around three years ago my non priority debts started to get unmanageable, it seemed they would never go down as I couldn't afford to make large enough payments so was mainly paying interest. I had debts spread over credit cards and a bank loan all in totaling around £17k. I work as a Hospital assistant and was then on £16k pa.

 

I decided to seek help through Payplan an IVA company (who ended up making money out of me and i was left no better after a year owing practically the same amount) and they accepted to take me on and I started paying monthly amounts through them to settle my creditors. After about a year I fell pregnant had my baby and had 9 months maternity leave and have gone back to work 2 days a week. Through the maternity leave Payplan agreed 2 payment holiday which i gladly took, i warned them I wasn't sure how I was going to start making the payments again at the same amount that I had been . Reducing the monthly amount was not an option to Payplan and they failed my IVA.

 

I collated all of the creditors address and my old account numbers and decided to contact them direct with a view to asking them to write off the debt. I gave details of my income and expenditure, explained I have no assets to be called upon and that I never intended to not pay back what I owed, and that's the reason I approached an IVA company in the first place, I thought that promptly replying to every letter the creditors and now solicitors sent would put me in good stead, but thats not the case, every letter I reply to with a letter asking for them to consider writing off the amount owed is ignored and they are demanding payment. I have even offered a nominal amount of £5.00 a month on the basais they could continue to frezze interest and I could pay that until I'm in a better financial position to make larger payments. This has been ignored as well. I have now received a letter for one debt of around £550 from Dydens fairfax Solicitors, telling me that If i dont settle in full in one week they have authority to commence legal proceedings and that i may be liable for court costs and that i should not underestimate the seriousness of this letter.

 

I am so worried, I don't know what to do, I live with my boyfriend who has his own debts to pay, hes a homeowner and pays all the mortgage and all bills, all my debts were incurred before I met him so I don't thing he will be liable will he?. I contribute about a 1/4 of what he pays out in outgoings towards the upkeep of the house. I have literally no money to pay them back, My boyfriend said he would help out towards paying the £600 odd it costs for a bankruptcy. Is bankruptcy a route I should go down in this case? and what are the implications of this?

 

Looking forward to hearing your views.

 

Thanks

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You can still sort this out as they cant make you pay more than you can adford. No court would either.

 

Can you post up info on the debts? Have you checked to see if the debts are actually enforceable? Checked for unfair charges or insurances you can reclaim?

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Around three years ago my non priority debts started to get unmanageable, it seemed they would never go down as I couldn't afford to make large enough payments so was mainly paying interest. I had debts spread over credit cards and a bank loan all in totaling around £17k. I work as a Hospital assistant and was then on £16k pa.

 

I decided to seek help through Payplan an IVA company (who ended up making money out of me and i was left no better after a year owing practically the same amount) and they accepted to take me on and I started paying monthly amounts through them to settle my creditors. After about a year I fell pregnant had my baby and had 9 months maternity leave and have gone back to work 2 days a week. Through the maternity leave Payplan agreed 2 payment holiday which i gladly took, i warned them I wasn't sure how I was going to start making the payments again at the same amount that I had been . Reducing the monthly amount was not an option to Payplan and they failed my IVA.

 

I collated all of the creditors address and my old account numbers and decided to contact them direct with a view to asking them to write off the debt. I gave details of my income and expenditure, explained I have no assets to be called upon and that I never intended to not pay back what I owed, and that's the reason I approached an IVA company in the first place, I thought that promptly replying to every letter the creditors and now solicitors sent would put me in good stead, but thats not the case, every letter I reply to with a letter asking for them to consider writing off the amount owed is ignored and they are demanding payment. I have even offered a nominal amount of £5.00 a month on the basais they could continue to frezze interest and I could pay that until I'm in a better financial position to make larger payments. This has been ignored as well. I have now received a letter for one debt of around £550 from Dydens fairfax Solicitors, telling me that If i dont settle in full in one week they have authority to commence legal proceedings and that i may be liable for court costs and that i should not underestimate the seriousness of this letter.

 

I am so worried, I don't know what to do, I live with my boyfriend who has his own debts to pay, hes a homeowner and pays all the mortgage and all bills, all my debts were incurred before I met him so I don't thing he will be liable will he?. I contribute about a 1/4 of what he pays out in outgoings towards the upkeep of the house. I have literally no money to pay them back, My boyfriend said he would help out towards paying the £600 odd it costs for a bankruptcy. Is bankruptcy a route I should go down in this case? and what are the implications of this?

 

Looking forward to hearing your views.

 

Thanks

 

Hi

 

Just following on from the previous poster

 

If the debts are not in his name or guarantor wise then he is not liable.

 

How long have you lived with your boyfriend ?

 

Is there any equity in his home?

 

If you have no disposable income or assets then there is not too much your creditors or collection agency buddies can do other than talk the talk or send letters etc, maybe a CCJ even.

 

Bankruptcy could well be an option

 

In the meantime maybe have a look through the links below on all options etc (including bankruptcy)

 

https://www.mymoneysteps.org/

 

http://mymoney.nedcab.org.uk/moneyadvice/

 

http://mymoney.nedcab.org.uk/moneyadvice/bankruptcy.asp

 

Could you put up your SOA including the income split with your boyfriend as I am quite sure there are people who can help you further.

 

Also there should not really be any need to pay any one to help you with bankruptcy / forms etc if this ends up being your chosen course of action.

 

If in any doubt get full independent advice based on your full circumstances

 

Best Wishes

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