Help Please!

dduk79

Heelo I am after a bit of advice as I have got myself in a right state with my creditors, been a bit of an ostrich and buried my head in the sand. I am a wheelchair user and I used to work full time, although due to my disability I have had to reduce my hours. I live with my parents. Like a fool when i was younger I borrowed some money to buy a new wheelchair and go on holiday. irresponsably i got the spending bug and reconsolidated often. (i regret it now). I am now at a stage where I owe over 50k , 31k to northern rock unsecured loam, 8k NatWest Credit card 7k Nationwide unsecured loan, 5k bank overdraft.

I earn £890 pound a month.

Basically my contractual payment for NorthernRock is 334.00 NatWest CC Min Payment was 138.00, Nationwide 130, and I am being charged 70.00 per month for my overdraft.

I am dealing with Roxburghe Debt Collections (Nationwide) and they have agreed a payment of 25.00 per month and they have frozen the interest. To be honest they have been really helpful.

Moorcroft and Northern Rock have been a different kettle of fish

I did stop paying all me creditors for a 6 month period last year, stupid i know, but I was totally fed up.

Northern Rock are demanding that I pay them a minimum of 153.00 per month. I genuinely cannot offord this. I have emailed there customer relation department and offered £50 per month. PDRS have also been in contact with me about this debt.

Moorcroft are a shower of Sh*t. I have offered £20 per month and they are refusing. They are now threatening to send someone to my Mum and Dads door. I have contacted them on there website serveral times and also emailed their head office, and not recieved responses.

I have written to both NR and Moorcroft and I have not had a response.

Also What can I do about my overdraft? I have sent all involved financial statements.

Do you think I'd have a case under the CCA if so how do i got about it?
Is Bankruptcy they way to go? This is something i'd like to avoid as I am worried about court.

Any help or advice would be greatfully accepted.

Thanks

Paul

MrsTinks

Given the level of your debt I'd say bankruptcy is the logical solution at a quick glance. At an income that low compared to a high debt - unless you think you will be able to considerably increase your income I think you need to speak to one of the debt charities and ask them for their advice about going BR.

niccatw

Hi Paul

Welcome to the forum. You've taken the first step, it can only get better from here!

It sounds like you've been trying to sort out a debt management plan (DMP) of some sort on your own. Debt collection agencies are notoriously difficult to deal with! TRy not to worry about them turning up at your parent's door - they can only take what is yours, not your parents. I think, unless it's a court appointed bailiff, you can - and shouls - refuse to let them into your home. Other folks could maybe advise more on this.

I think you might find it useful to look into a DMP organised through one of the free debt management charities CCCS http://www.cccs.co.uk/, PayPlan http://www.payplan.com/ and National Debtline http://www.nationaldebtline.co.uk/ or speak to your local CAB.

Also if you post a SOA on here, folks will help you figure out where you can save or cut back. http://www.makesenseofcards.com/soacalc.html

Good luck