Struggling with debt? Ask a debt advisor a question

laurab1956

I am at my wits end. I was employed full time until the summer of 2009 when I left due to problems with my employer. I then went to work as the self employed administrator for my brother's company. Sadly, my brother who was then ill, died in June 2011. I was due tax for the year 2009/2010 which I had to pay off in installments and also had an overpayment of tax credits to pay as well. The company which was my client is now folding and cannot pay me. I am therefore unemployed. I have no savings (which I know is idiotic) and an income tax bill of over £4,000 for 2010/11. I live in my own home (well, I partly own it and the rest is owned by a trust fund). The trust fund was set up by my parents in their wills and my share of their estates is held in trust for my children after their death. I get liferent. At the moment this comes to around £3,000 per year, the payments are quarterly and I never know exactly how much to expect. This is being used to calculate my benefit so I will only get about £4 a week according to the CAB. Apart from an account with Simply Be which I already have a payment arrangement with and around £400 which I owe to Very, my only other debts at the moment are my accountants bill and a small amount to the dentist. This will change soon when I can no longer pay utility bills. I have already cancelled my internet and phone.

Any ideas as to how I should proceed? I am terrified in case HMRC force bankruptcy on me.

Thanks

gemma1983

Hi there. Im in a dmp and ive just received a letter to say my loan with aa finance has been passed to blair, oliver and scott. In the letter it states they can off set any accounts i have with the bank of scotland. I bank with natwest and wondered if they would be able to get any more from my account? ive found out natwest is ran/owed by royal bank of scotland, is the bank of scotland part of this or is it a separate organisation? thanks

fatbelly

gemma1983 wrote: »

Hi there. Im in a dmp and ive just received a letter to say my loan with aa finance has been passed to blair, oliver and scott. In the letter it states they can off set any accounts i have with the bank of scotland. I bank with natwest and wondered if they would be able to get any more from my account? ive found out natwest is ran/owed by royal bank of scotland, is the bank of scotland part of this or is it a separate organisation? thanks

Totally separate. Blair Oliver Scott is part of Halifax Bank Of Scotland, now part of Lloyds Banking Group (The group includes AA). Nat West is part of Royal Bank of Scotland plc.

There's a chart here:

http://www.fsa.gov.uk/consumerinformation/uk_groups

thegosu

Tyvm for your reply.

gemma1983

fatbelly wrote: »

Totally separate. Blair Oliver Scott is part of Halifax Bank Of Scotland, now part of Lloyds Banking Group (The group includes AA). Nat West is part of Royal Bank of Scotland plc.QUOTE]

Thank tou so much for the reply! so blair, oliver and scott definatelt cannot take any money out of my natwest current account? sorry to ask again, i just want to be totally sure that my wages are safe in my account, im a single mum with a 2 year old boy and ive been freaking out thinking they can off set my account! Thanks again

fatbelly

gemma1983 wrote: »

Thank tou so much for the reply! so blair, oliver and scott definatelt cannot take any money out of my natwest current account? sorry to ask again, i just want to be totally sure that my wages are safe in my account, im a single mum with a 2 year old boy and ive been freaking out thinking they can off set my account! Thanks again

Correct. There's no right of set off between the two groups. I thought I'd respond because I suspect CCCS won't be back till Tuesday.

Have a nice weekend, Gemma.

gemma1983

fatbelly wrote: »

Correct. There's no right of set off between the two groups. I thought I'd respond because I suspect CCCS won't be back till Tuesday.

Have a nice weekend, Gemma.

Thank you so much! ive been all worried! thank got for forums like this! Have a lovely Easter :-)

thegosu

Is it possible to speak to someone in a more private chat I don't feel comfortable speaking openly about everything which I need to do to get the information I need.

fatbelly

thegosu wrote: »

Is it possible to speak to someone in a more private chat I don't feel comfortable speaking openly about everything which I need to do to get the information I need.

CCCS, Payplan, National Debtline. Maybe your local CAB or another local agency.

But only talk to those on Martin's list

http://www.moneysavingexpert.com/loans/debt-help-plan#help

cos there are a lot of sharks out there.

1s10ma

Can anyone please help?
A friend would like an assistance please?
He has lots of debts including cc and planning to do an IVA. He earns about £1400 monthly and all goes on paying bills and cc. He has 2 mortgages - both properties are on negative equity.
He lives in one with his family and let out the other - rent collected is just enough to pay the mortgage.

The question is, if he goes into an iva, will he lose both properties, as he does not want to end up on the street with his family?

What is the best way to approach his debt.