Recently unemployed? Advice on debt?

mikeeee

I've recently lost my job, and previously managed to pay my monthly installments. Now I'm no longer working, where do I stand?

I'm not in a position to be able to afford to pay these installments until I find new work. What advice can anyone suggest? Do creditors freeze the debt in instances like this? or do they get more serious and involve County Courts, bailiffs etc?

My concern is that I share a home with someone else (who is the home owner) and they are concerned about the bailiffs taking their property.

Many Thanks
Michael

Donedoingdebt

Do you have the dreaded PPI on any of these accounts?

CLAPTON

have you applied for JSA? and inquired about housing benefit?

and presumably you have drastically reduced your spending to accommodate your new low income.

you need to contact your creditors and explain your situation emphasising of course that you are looking for new job and are hopeful of being employed soon.

work out what you can pay (maybe nothing or a nominal £1 ) and ask them to accept this and freeze all interest and charges until you are able to resume payments once you find a job.
you can't guarentee the result but many will agree for a limited time.


in the short term its unlikely they will apply for a CCJ against you.

if they do and you are on JSA its unlikely the judge will award them much anyway.

if the worst came to the worst and an enforcement order was made, the bailiffs could only take your possessions and not your housemate/landlord.

Peter-Pan_5

I would in the first instance contact your local citizens advice office,or

welfare rights office.

lynzpower

Theres a long road before the bailiffs. Your best bet is to stick up an SOA here ( read the sticky from southern scouser, on "first time posters" )

In any case a bailiff WITH A COURT ORDER ONLY cn enter your home but can only remove items that are YOURS. they cannot legally enforce entry- so broken locks and the like wont happen either.

saubryn

What are your prospects like for finding work? Quite often companies will be understanding enough to offer you a few months of reduced payments. Not all of them, but hopefully enough of them that you will be able to get a little breathing space until you get back on your feet.

If you could say more about what you owe people on here should be able to help you better.