Settlement figures

Feeling_worried_2

I have 3 main debts , Ive not paid anything on them for 4 years and token payment letters were ignored. Ive been in contact with the CAB and hes suggesting that I now go bankrupt.

I owe around £30,000 , what can I realistically expect for a settlement fee?

Halifax : £9000 loan
Lloyds : £10000 overdraft
Llyods : £8000 loan


I can probably get together £2000 by selling some personal items , I am un-employed currently and do not own my own house.

Is there any chance what so ever , even slight chance I might be able to clear these debts with £2000???/ I probably know the answer , But I have to ask still as I dont really want to go bankrupt even if it does seem the best option

Tixy

I doubt it feeling worried. I think the very best deals (and not that common) are usually around 15% and 30% is more common.

Seeing as all the debts will have defaults/show on your credit file etc then have you considered looking at the unenforceability option?

Is there a particular reason against bankruptcy (eg because of your job) or just because you don't feel its something you won't to do.

Are you working? could you do a DMP?

Feeling_worried_2

Tixy wrote: »

I doubt it feeling worried. I think the very best deals (and not that common) are usually around 15% and 30% is more common.

Seeing as all the debts will have defaults/show on your credit file etc then have you considered looking at the unenforceability option?

Is there a particular reason against bankruptcy (eg because of your job) or just because you don't feel its something you won't to do.

Are you working? could you do a DMP?

Hi

Not currenty working , have been a stay at home dad for my two daughters and currently looking for work.

Bankrupcy - Well I just dont like the idea of it even though I know its probably the best option and my partner agrees aswell. I was thinking of starting a business soon aswell , which I wouldnt be able to do. I think its just the fear of bankruptcy , I know deep down its looking the best option.

Tixy

Maybe it would help set your mind at rest if you got a second opinion from CCCS? see if they suggest the same? or any other alternatives?

Its certainly not an easy thing to get your head round, but for some it is the right option.

Feeling_worried_2

Tixy wrote: »

Maybe it would help set your mind at rest if you got a second opinion from CCCS? see if they suggest the same? or any other alternatives?

Its certainly not an easy thing to get your head round, but for some it is the right option.

Yes they suggested the same , first suggestion was settlement but they suggested around 40% and theres no way I can afford that.

Just hope what ever happens its the right decision.