Anyway back from Restons??

Charliebird

None of the debt is secured all credit cards Loans or overdraft. BK really isn't an option. I don't work have two kids undr 5 and any job I can get barely covers the childcare cost and even so am struggling to get any interviews! Think our only real option is to sell up release his equity and pay this off and then try and negotiate some settlement with the others and see where this leaves us/him

thechippy

Maybe

It's a difficult situation. The fact you have so much equity is against you.
The problem is, you are not going to be able to sell up in time b4 they get a ccj and try to enforce it.

If they get the ccj, try for installments and keep them up. You could then possibly sell and negotiate reduced f&f's with all the creditors. Remember that the dca's only pay 10-20p in the £ for such accounts.

Charliebird

Thanks for your help. No easy answer.

thechippy

Charliebird wrote: »

Thanks for your help. No easy answer.

Check you pm's (personal message folder)

fatbelly

Please read this factsheet.

Factsheet | Replying to a county court claim form

Even if the claimant does not accept your offer to pay in instalments, it is the court's decision on whether you should do so, and at what rate.

If you disagree with the outcome, you have 14 days to ask for a redetermination (no specific form needed, a letter will do) and there is no fee for this. See 'what happens next' on the factsheet.

Provided you keep to whatever the court orders, they cannot apply for a charging order nor any other form of enforcement.

If, however, the court(s) do consider that your offer does not clear the debt in a reasonable time then a forthwith order followed by a charging order is a possibility.

GeorgeUK

Did you check to see if the credit agreements were properly executed?
It might be worth looking at.