Debt and Depression. please help

molly22

my brother isnt feeling too happy, mainly i feel because he has some debts.
any advice would be much appreciated.

Assets

House - @£70000 with £26000 mortgage.
willing to sell.

Debts

10 credit cards - total debt @ £12000
needs monthly servicing.


What can he do?

thanks
molly

Tixy

Hi Molly

Is your brother working? Is he managing to make the minimum payments so far on his credit cards?

How serious would you say his depression is? is he 'just' a bit down and fed up with the debt he has? or is it having a serious impact on his life or his work/family. Has he considered talking to his GP about how he is feeling? - not necessarily for medication but just to talk through things.

3Dogs

Hi Molly - if your bother (or you on his behalf) can post his SOA (Statement ofAffairs) on this thread using http://makesenseofcards.com/soacalc.html then people will be able to advise him better, knowing the full position

I feel he ought to look on https://debtremedy.cccs.co.uk where you/he can input all his details and it will give online advice onwhere to go from there

Use a charity debt advice company if he decides to go into a Debt Management Plan, or anything similar CCCS, National Debtline, Citizen's Advice Bureau. NEVER use one of these companies that advertise online, in papers, TV, tetephone cold call, etc as they charge fees and therefore less of his money would go towards his debt

Good luck and I hope you find the advice you are looking for