Need some advice ...

fudge59

Though it's not for me, someone I know has just told his partner he's got financial problems that'd been kept secret from her - not 100% of the amount but I think it's around the 20k mark on 2 credit cards. He has no assets (they live in rented accommodation, and he has a company car) - is bankruptcy an option for a debts around 20k or is an IVA a better option as I think he's tried talking to his creditors but they've not accepted any lower payments.

Apparently after paying rent, HP for a car (which is in his name, but she uses it), and paying the c.cards he has nothing left each month.

Like i say, I dont know much details just that above, it's come at a pretty bad time as they were meant to be getting married, but that's been called off for the time being (due to another reason that needs to be kept quiet)

deedee_3

Fudge get your friend to ring one of the debt charities. They will help him go through everything.
Your first port of call should be to contact one of the Debt Charities; see links below. Their services are free; they have no vested interest to serve; their advisors are professionally trained and the advice they give will be objective and in your best interests only.

CCCS 0800 138 1111 National Debtline 0808 808 4000 Business Debt Line 0800 197 6026 CAB – Contact your local office and ask to speak to a Specialist Financial Advisor.

Taken from Richard-S signature

fiveyearplan

Yes, your friend should ring one of the debt charities listed above to find out what options are open to him and what best suits his circumstances.

(Shhh, what is it that needs to be kept quiet? We won't tell. I promise.)

fudge59

Thanks for your replies ... he's making an appointment with the CAB today to discuss his finances - have already said if he wants any further help to just ask me, having been through bankruptcy!

Dez-Titute

Well done Fudge we all need m8s like you to help in a crisis.Hope all goes well.CAB might be busy give him all the numbers listed CCCS,National Debtline etc just in case