£30,000 debt on CC's. Can this be written off? I don't have PPI

Sibley

I go for bankrupt. Loads of people I know have done it. No big deal.

Any

Going bankrupt at his age (which we are all guessing though) he will end up in life of poverty in his old age.

It is not big deal (well, it is, for people who want to lead normal life) if you have time to rebuild your life afterwards, but we are guessing this guy doesn't..

Tixy

DebtWriteOffMaster wrote: »

There are 3 options that you have to choose from to get it written off-

1. If he rents instead of owns any property and doesn't have a car you can get it statute barred .
This will take 6years to do though, and theres a chance the bank may try taking him to court.

If you want to choose this option he has to just totally ignore all the bank's letters and phonecalls (bin the letters and change his mobile number so the bank cant contact him),
and in 6years the debt will legally be written off.

I did this for roughly £13,000, had loads letters from powerless debt-collection agencies about how they were considering court action, but i just ignored all the letters and eventually they stoppec plus no action was ever taken.

But for 30k they may try taking you to court.
If they do though remember they cannot refuse any reasonable offer of repayment, so if hes unemployed then £1 per week is more than reasonable.

A statute barred debt is not written off, it means that you cannot be legally required to pay and should you inform the creditor that you do not intend to repay then must stop chasing you. But the debt still exists.
However it is likely to become much harder for debts to become statute barred in the future, lenders are much more keen to take legal action long before the 6years are up meaning the debts will never be statute barred. Obviously whether they will will depend on many things, not least the individual balances owed to each bank but as he has previously been a high earner the banks may well judge it likely that he will earn reasonably good money again in the future and think it worth going for a CCJ.

KingElvis

LOL, huge debts, no job so time for an eight month holiday, you just have to love that attitude.

I hope that holiday is worth it when you're getting plauged with calls from scum of the earth debt collection people, getting loads of letters etc etc

No sympathy of any kind from me.

Fiddlestick

Maybe he should have used his redundancy money to pay his debts off rather than going traveling for 8 months then looking to get it "written off"?

Here's a suggestion: maybe he should get a job and do what he did 8 months ago - pay it off!

Sheesh.

ILW

All my extremely helpful replies seem to have been deleted.

Watalie

This is a joke right?

In the same job for 20 years and gets a payout for Redundancy, instead of paying his bills - he uses it to go travelling?

He leaves you for 8 months to do this?

You want the debt written off while others (me included) slog our guts out to pay back what we owe?

He should be ashamed of himself.

chattychappy

Option 1 isn't really an "option". It will only become statute barred if the companies don't get around to suing for 6 years. It's not something you can choose.

As for all this business of "you are in control" - if he goes bust, then you will have very little control over what follows. Some professions are barred to bankrupts. Getting credit can be impossible, at least for a long time.

There's a separate bankruptcy forum - worth taking a look at the experiences there.

Also, the behaviour of the person prior to the bankruptcy/DRO can be taken into account if it was particularly extravagant. This can result in further sanctions.

Caz3121

has he had his head in the sand over this ... my husband had a large amount of debt on cards (from first marriage) when he was made redundant and first thing he did was pay it all off...currently he is on ESA and can't afford a bus ticket never mind a holiday but he can sleep easy knowing he has paid back all his dues

iereboy

Guys - do you think the op is serious??? Come on! 4 posts and has never come back. The word TROLL springs to mind! You guys know the situation they presented is a big wind up. Treat it like one! 30k in debt and goes on holiday? Right!

So again my answer to the op stands as:

"Please don't worry. A lot of people in your situation face the same problem.

What you need to do is to find out if he has any credit left on the cards and go on a nice long holiday with your boyfriend. You both deserve a holiday, after all spending £30k is tiring. I hear Afghanistan is nice this time of the year. Take some Bibles for light reading and some voddie to keep you merry.

Another option, would be to find a rainbow and hunt like mad for the pot of gold at the end. The trick is to find out which end has the pot of gold. It works all the time. Trust me! Beware though, there may not be a leprechaun guarding the gold, sometimes there is a TROLL!! "