help with getting rid of debt

atlas2l8v

Hi all

I am a house owner (sole mortgage) and last year went through the hounding etc of repaying my debts which i know is only fair as i have racked up the debt. I have been paying my creditors with accepted payments for last 12 months and been left alone really.

I have a debt of approx £45k unsecured on credit cards/loans, i already have a charging order on my house for £10k and a CCJ repayment for £15k of the debt the rest of the debts creditors are receiving small payments per month to which some agreed too. The remaning debt is spread over small balances really of say 2k to 5k.

My house is prob worth approx £115k at market value and remaining mortgage is £98,500

Im never going to clear this debt at the reduced payments, will they keep accepting these payments or will they follow through with trying to make me bankrupt as i have got the odd letter stating more severe steps etc.

My financial circumstances arent going to change radically for the next 4 years as im training as a QS following a career move so i dont want this to escalate and end up losing my house..

Am i being dramatic here ? will they stop hounding me for the repayments i feel guilty in the fact realistically i wont be able to pay it all back or as long as i continue making payments they will be happy

Sorry for all the questions

fatbelly

It's very very unlikely that a creditor will try to make you bankrupt.

Most will be OK with regular small payments.

Some will want a ccj, maybe followed by a charging order, and you have experience of both of those.

If you wanted more detailed advice, we'd need a SoA from you.

http://www.makesenseofcards.com/soacalc.html