I Owe Unlisenced Loan Sharks What To Do

MCBIRNIE25

Johnny,
go the police, maybe best option for protecting your family.
As you stated, you would be looking over your shoulder anyway.

Other options are :-
Go see them, offer to repay, explain if they hurt you they get nothing.
Sell the house, Council will provide a property for you, tho dont expect anything super duper. In situations involving a family they have to provide some kind of accomodation, This could be a hostel though.

Phoenix79_2

How on earth have you racked up all this debt? Have you anything you can sell to raise immediate funds?

johnny_fandango

Phoenix79 wrote:

How on earth have you racked up all this debt? Have you anything you can sell to raise immediate funds?

GAMBLING AND LIVING THE HIGH LIFE, IT SOON ADDS UP HOLIDAYS AND GAMBLING TO TRY AND WIN BACK SOME OF THE MONEY YOUVE WASTED, THEN ALONG CAME THE LITTLE UN, SO I HAD TO STOP AND BECOME A RESPONSIBLE FATHER, EVEN IF I WASNT A RESPONSIBLE ADULT IN THE PAST.I CAN SELL MY HOUSE BUT WHERE WILL ME AND MY FAMILY LIVE.

JOHNNY....

whambamboo

johnny_fandango wrote:

GAMBLING AND LIVING THE HIGH LIFE, IT SOON ADDS UP HOLIDAYS AND GAMBLING TO TRY AND WIN BACK SOME OF THE MONEY YOUVE WASTED, THEN ALONG CAME THE LITTLE UN, SO I HAD TO STOP AND BECOME A RESPONSIBLE FATHER, EVEN IF I WASNT A RESPONSIBLE ADULT IN THE PAST.I CAN SELL MY HOUSE BUT WHERE WILL ME AND MY FAMILY LIVE.

JOHNNY....

rented accommodation would be one option. That's where my wife, my family + myself live.

Who exactly do you owe the money to, how much exactly is it, how dodgy are they? Are they a real registered company, or just dodgy blokes?

Are there other creditors.

You need to state your liabilities to each one.

Norfolk_Jim

Have you tried speaking with citizens advice bureau. I know they can be very busy and hard to get an appointment with but you need to get on the list for an appointment now. They should be able to let you know if you should be talking to police, lawyer or estate agent. How much would you get for your house? There are lots of people here who will advice you so dont panic, but in the meantime get on the phone to CIB and make an appointment.

immoral_angeluk

Sorry to say this but if you sell your house voluntarily (Whether forced to by debt or not) you won't be elidgable for a council house as you technically made yourself homeless. We're in a housing association house and one of the big terms before we were accepted was that you had to have exceptional circumstances ie overcrowding etc and had not voluntarily made yourself homeless. Also if you're a single man you won't have a hope in hell of getting a house a the priority housing always goes to the elderly, families or single parents.

ctabuk

immoral_angeluk wrote:

Sorry to say this but if you sell your house voluntarily (Whether forced to by debt or not) you won't be elidgable for a council house as you technically made yourself homeless. We're in a housing association house and one of the big terms before we were accepted was that you had to have exceptional circumstances ie overcrowding etc and had not voluntarily made yourself homeless. Also if you're a single man you won't have a hope in hell of getting a house a the priority housing always goes to the elderly, families or single parents.

I was just going to post that, but - it does depend on the age of Children -So even though it is 'making yourself homeless' then Councils do have descretion. Especially when children are involved.

toonfish

can't see why you would need a council house - just rent somewhere.

rog2

I think your choice of house rental is probably the least of your worries. If you owe money to unlicensed moneylenders who are prone to the odd 'heavy handed' collection tactic, then you should go straight to the Police and ask for protection for your family. Then co-operate with the authorities to bring these criminals to justice.

Brassic

I assume you are still working? Can you clear the debts totally if you sell your house? If so surely there isn't a problem? I think we need more details before we can help you properly. But I agree, if the collectors are unlicenced, one of the steps you will probably need to take is to go to the police.