Debt advice

Weeyin

Help!

My brother has got himself in a real mess with debt and he's completely burying his head in the sand about it. He refuses to talk about it, but my understanding is:

He got about £20k debt (most of this relating to a car that got wrote off by a "friend", insurance not paying out)

He fell behind in payments and got some sort of credit agreement to pay £600 a month

He has moved out of my mums and can no longer pay this amount (arguing constantly, Mum can't live with him anymore)

He's now wanting to declare himself bankrupt, but earns nearly £20k a year.

I'm worried that while he's not paying, court fees, late payment fees etc are adding up, and he's just getting in a worse and worse mess. Can he declare himself bankrupt if he's earning? He's said he can afford £50-£100 a month, but debtors insisting on at least £200, can he just pay the £100?

Pammybun

Well if he is earning £20k then what he has to look out are his outgoing eg home, heating, food, clothing etc etc costs and then what he has left.

He really needs to speak to someone who could look at his debts (he will need to be honest and list them all) and then take things from there.

As far as the car goes - if the friend took it without permission then does he not have a claim against him.

It is difficult but your brother really needs to wake up and smell the coffee as this will not go away and leaving it makes it worse. He will feel better he he starts to take some control because at the moment he probably feels like things are overwhelming him.

Pam

Weeyin

I know, the trouble is, he just wants to ignore it. I've tried to have a calm conversation with him, but he just says its none of my business. I think he just feels he owes so much, the best solution is bankruptcy, but i'm not even convinced he knows whether or not this is a realistic option, and how he goes about it.

coolcait

Hiya

Where in the UK does your brother live, as the law is different in Scotland, so the information you need will also be different. (Yes, I'm basing my pst entirely on your user name, so humble apologies for stereotyping! )

dalip

Has your brother got access to a computer?. If so could you tell him about this site? It can sometimes be easier to "talk" to strangers than to family and also he could just lurk no need to sign in. That way he would see that a) he is not alone(which he must be feeling at the moment) b) there is always some sort of solution.

Good luck.Dx

tigerfeet2006

Dalip is right, see if you can get him looking here. Unfortunatly unless he has had his lightbulb moment there is nothing you can do for him. This is something he needs to do for himself and he will only do it when he is ready.