very kind uncle

sammyjammy

OP I don't think anyone has asked you this but do you have a lot of equity in your property? If you have very little or no equity then you may be able to go bankrupt and still keep your house, its worth a consideration.

gotintodebt

sammyjammy wrote: »

OP I don't think anyone has asked you this but do you have a lot of equity in your property? If you have very little or no equity then you may be able to go bankrupt and still keep your house, its worth a consideration.

Hi about £3000 after all debts paid. How does that work.

gotintodebt

dave030445 wrote: »

No £75k is not a small amount but as the OP says they are made up buy lots a differant debts how many we dont know so its very unlikely that they will go down that route. OP get in contact with the companys and offer them a token payment of £1 a month I know that seems a silly amount but as you cant afford any more they will take it and as long as you keep paying the £1 they will leave you alone. Even is they say no to the £1 keep paying it they will in the end except. Then they will offer you a reduce payment clear the debt. so your total debt could go down from 75000 to about 50000 still alot but you may get them down even more. Good luck dont forget keep paying the £1.

that will help if it works does anyone else know is that want they do it will help just paying a £1 seems a bit cheeky though.

sleepless_saver

gotintodebt wrote: »

that will help if it works does anyone else know is that want they do it will help just paying a £1 seems a bit cheeky though.

It will if they accept that you can't pay more. But there's nothing to stop them issuing a statutory demand and going after your assets (i.e. your home) if they think they can get the debt repaid that way.

As I and others have said in earlier posts, you need proper debt advice - contact CCCS

Lady_gaga

It's a common misconception that company's have to accept a token payment of £1 a month, they don't...
the chances are if you start missing payments and messing them around, they will sell the debt to a collection company, they can be relentless and mercenary in their aproach to recover their cash, on the plus side though, everyone knows debt collection company's buy bad debts for a round 26p-35p in the pound, then you can bargain with them in getting the debt reduced and paying it off in a vastly lower lump sum.