please advise

buckleyskj

i lost my job a few months ago and have used all my savings up paying credit cards ,loans ,morgage ect i am claiming job seekers allowance wich is 130 per fortnight i have rung a few debt consiliation services for help and advice but all they say to me is that i need an iva or bankrupcy my house is worth about 140,000 and i owe about 50,000 so i dont want to do either of those does anyone know were i can get help from . ALL my payments are up to date at the moment and none have been missed

Fitzer2000

Hi Buckley, Can you post a SOA (Statement of Affairs). Once we see the type of debt you have I'm sure you'll get lots of guidance and support. I suggest you take a look at NID's (Never In Doubt) excellent "Unenforcability and Templates" Thread. Depending on the type of debt you may well be able to go down the "Unenforcability" route. Well done for posting.

Tixy

Hi buckley

I think you need to seek advice from one of the debt charities as a starting point - https://forums.moneysavingexpert.com/discussion/2077631
Don't get a consolidation loan as you have nothing to service it with. And don't set up a debt management plan with a commercial company who will charge you fees.

I can see you have wanted to keep up to date with you repayments and therefore keep your credit file intact but the reality is that this is probably not going to be possible long term.

Neither an IVA or bankruptcy would seem suitable for you at the moment. You would need to have an income to do an IVA, which you haven't got. And bankruptcy seems extreme considering the equity in your house. If it came to it you would be better to sell your house yourself and pay off the debts rather than go bankrupt.

That said it may be that nothing so drastic is required. As Fitzer says is might also help us to advise you if you could post a statement of affairs so we can see a bit more about your situation. http://www.makesenseofcards.com/soacalc.html