Credit cards

redbridgesandy

Hi.
I am nearly 64, still in full time employment and pretty broke (thanks to an ex-husband who gambled away everything we had). After 2 children in university and a new husband whose business is not going too well, I have big credit card bills (£15,000 total). I am keeping on top of these but I know that my health will not permit me to work much longer, then I will be in trouble.
I have tried to get a loan so I can pay them off and have a finish date but I have failed.
I have no savings and am a tenant. :eek:

Am I totally b*******?

I do not want to go bankrupt as I have always paid my way. Any suggestions, clever people?

Moggles_2

Welcome to MSE!
May I ask which credit cards you have at the mo?

jamesey07

what's the problem with going bankrupt? if it's gonna save u some money u might as well enjoy your later years with a bit of fun instead of worrying about large debts,

izools

jamesey07 wrote: »

what's the problem with going bankrupt? if it's gonna save u some money u might as well enjoy your later years with a bit of fun instead of worrying about large debts,

Agreed. It can be such a weight off your shoulders!

And remember, once you are on a state pension, you are not legally obliged to pay your creditors a penny. The social security act 1992 prohibits any creditors from placing a charge on state benefits, because it is considered just enough to live on and no more - at law.

You'll be fine, just need to make a stand against your creditors and say "That's your lot!"