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terminator123

Fresh start or carry on ?

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Hi, and thanks for a great site.

I am self employed, but due to bad depression for last year have got a lot of credit card debt.

Finally sought help from doctor and starting to feel human again.

Been advised to go bankrupt due to my situation, but really want to stick it out and build up my business again. My question is when my credit cards default will the DCA's try and take my van and tools ?

I owe 30k and it is going to take me a while get back up running, but really would prefer to give it a go.

Any thoughts would be really appreciated.

 

Thank you

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If you owe £30,000 and you have no house or other major assets – and if you can really understand where you went wrong and resolved to avoid the same mistakes again in the future, then bankruptcy presents itself as a very serious possibility. Your van and tools are your means of earning a living and they would not be taken away from you.


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DCA's won't take your van and tools or any other goods you own. They have no powers.

 

The creditors you owe money to, would have to go to court to get CCJ's first and after a period of non payment send in enforcement officers to try to collect payment. But you would have plenty of opportunity to enter into affordable repayments, by completing details of your income/expenses.

 

Creditors are not normally in any hurry to issue court claims, so it could be years before you received any court claims.

 

In order that advice may be given about the debts, we need more details.

 

Can you advise roughly when you took out these credit cards originally e.g before April 2007, roughly what year ?


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list your debts please


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please list your debts.


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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