new to site and in scotland looking for advice

jasonaberdeen

Hello everyone

Am new to the site and just wanting to share my thoughts and details and see if anyone out there has advise.

My situation is that i have £42508.65 worth of debts.

Made up by:

£13100 unsecured personal loan from bank of scotland (balance at 06/07/09 but original loan taken out 06/07/04 for £17980.21),

£21058.89 unsecured personal loan from northern rock (balance at 07/07/09 but original loan taken out 26/04/05 for £15000 ... i cant understand why its now £7k over my original loan amount)

£4685.67 to barcleycard (balance at 29/10/07)

£3284.34 of council tax arrears (but that also includes the 2009 charge year of £940.50 that I am away to start paying off so the outstanding of old is £2343.84)

£149.75 to bt (from 21/10/07)

£230 to hydro gas (from 04/09/07)

Way back at the start of November 2008 I wrote (under instrustion from a local accountant i had been to see regarding by debt problems informing all of the above that due to major changes to my financial situation in the last 6 months before November 2008; (I was self employed as a director of my own company that am sorry to say was credit crunched and put into administration at the end of April 2008) I'am unable to repay the outstanding amount owed and that due to my wages with my new job I am unable to provide any suitable payment via trust deed (i get paid £948.24 after tax per month with my monthly outgoings are £898.37).

Some of the companys got back to me saying thanks for the letter but ... some of them (barclay card / bt) i have never heard back from. I was advised to just sit and wait for one of them to send me a CHARGE OF PAYMENT stating the amount outstanding and a deadline date for payment and then place my self into sequestration once the deadline date has passed but its nearly a year on and no one has done this. The only people to push hard on the debts have been the council tax people who on 09/04/09 sent a statement saying "we have been instructed to excute a charge of payment and funds arrestment in respect of the debts" but am not even sure if this is the CHARGE OF PAYMENT letter am waiting on to take to the local court or if it was a threat of issing one as that letter is now 6 months old and they havent done any of the things they claimed they would do since (aka arrest wages etc).

I cant really see anyway out of placing myself in to sequestration as i have no assets to use to pay off any of the above as i stay in a furnished rented flat, i dont own a car and I have no money in any bank accounts (I did have a security of £15,000 linked to my business loan but when the company went into administration that would have been used to cover the bank loan shortfall). I have applyed to my personal bank to repay my past 5 years worth of bank charges (£5202 excluding intrest) but seeing I have a currant account overdraft of £1000 am not sure if I will get a penny from them and even if I did making any form of payment to any of the above wouldnt in the grand scale of things make a big dent.

Anyway sorry for the long posting but good to get this off my chest as its been a massive stress for me over the past 18 months and just would love to see the light at the end of the tunnel and be able to move on with my life and not feel sick everytime I open the postbox.

wish me all and any advise would be fantastic

J

gettingbetter

hi

not to many people about at this time
but you will get all the help and support you want and need

council tax and hrmc are about the only ones who will actually amke you br
the others are all talk
(dont quote me on that one)
cant really help but just wanted to say hi

kas xx

tigerfeet2006

Hi and welcome to the board.

There are a couple of Scottish posters on here, I'll try and alert a couple to your post.

If I were you I would get a bank account that is not related to any of your debts as yuor bank at the moment could axe or lower the OD with out notice or take your wages to pay your debts to them.

We recommend the Co-op Cashminder account (you can apply over the phone, use the post office to deposit money, use any link cash point, have telephone and internet banking, DD's and SO's with this account.) Or there is the the Barclay's Cash account (apply in branch, banking in branch, use link cash machines, telephone banking, DD's and SO's.)

philnicandamy

Have a read through this as well...might help a little (and welcome to the madhouse!!)

Information for those in Scotland.


Advice on bankruptcy.

• Consumer Credit Counselling Service (Scotland) - Website: CCCS Telephone: 0800 138 3328
• National Debtline (Scotland) - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

Others:

• Business Debtline Scotland - Website: Business Debtline Telephone: 0800 197 6026
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

.
.
Accountant in Bankruptcy (equivalent of the English Insolvency Service).

Main website: www.aib.gov.uk

For general queries about insolvency (but not debt advice) you can contact: General helpline - Tel: 0845 762 6171 - Email: [EMAIL="Helpline@aib.gsi.gov.uk"]Helpline@aib.gsi.gov.uk[/EMAIL]

Bankruptcy

Low Income Low Assets.

Debt Arrangement Scheme

Trust Deeds

Bankruptcy after 1 April 2008

• DAIP - Debt Advice and Information Pack
• Debtor's Guide
• Creditor's Guide
• Bankruptcy Restriction Guide
• Trust Deeds Guide

Bankruptcy before 1 April 2008 (follow for links)

National Debtline Factsheets (Scotland)

• Bankruptcy
• Credit reference agencies
• Debt Arrangement Scheme (DAS)
• Debt management plans
• Enforcing a debt against you by diligence
• Fines in the district & sheriff courts
• Harassment
• Homeless - what should I do?
• How can I complain about my lender?
• How can my landlord end my assured tenancy?
• How to avoid debt at christmas
• How to deal with business debts
• How to deal with Hire Purchase debt
• Liability for debts & the Prescription & Limitation (Scotland) Act 1973
• How to make offers in full & final settlement
• Mortgage shortfalls
• Negative equity - What can I do if I want to move?
• Recall of decree
• Recovery of council tax
• Time orders
• Time to pay directions & orders
• Trust deeds
• What happens when a creditor takes court action against you?
• What if a creditor refuses my offer of payment?

.

aggcardiff

Keep at it m8y - if you do a search on my username you will see my story. I repaid about £27k of debt via CCCS. Please get in touch with them - they are such a help. I was indebted to some of the same companies as you. As for Northern Rock, I had a similar situation, but it turns out that I had unwittingly opted for 'PPI' insurance on the loan which added about £6k to the total. To cut a long story short, I had it all refunded after using the templates on this. Keep your chin up, phone CCCS, find out about Northern Rock PPI and the time will fly by, I promise. It feels like a life sentence, but before you know it, you are debt free. Best of luck.

coolcait

Hiya Jason

You'll recognise a Charge for Payment if one arrives, because it will say "Charge for Payment" at the top. It will also be served on you by Sheriff Officers.

If you don't pay it within 14 days, you'll be 'Apparently Insolvent'. That means that, 15 days after it's been served on you, you can apply for your own bankruptcy, if that's what's the best option for you.

Councils are one of the few creditors who are likely to go beyond threats, and actually go for a charge for payment (HMRC are another of the 'usual suspects').

HTH