Advice please

IHateDida

I wonder if anyone offer advice please.

Basically I have a relative who is in a situation that they knew nothing about.

Their person concerned is still in hospital having gone through a major operation and the partner has discovered that they have run up a debt of over £26k. They are both pensioners and have very little income, with no savings, although they do own a house without mortgage.

The debt is on 3 credit cards, a store card, 2 bank overdrafts and 2 bank loans. The debt stretches over the last 10 year period, with loans being taken out in 2007 and 2009.

The person is still in hospital, their partner doesn't know what to do as the banks etc won't speak to him due to data protection. When the person comes out of hospital probably within the next week, they won't be particularly in a good place to be able to deal with it (and are also in denial). All accounts are overdue and obviously interest is building.

Any advice about what they can do in the short term, and would this be a bankruptcy case in the long term (they don't want to lose their house - would this happen?).

Thankyou for any help - I don't know what to advise.

sickasachip13

Hi,

Please do not contact a debt 'management company' who will charge you for services that you can access for free with CCCS and PAYPLAN. CCCS is a charity and they can be contacted by phone or online and they will be calm, non-judgemental and lay out your options. Do not be tempted to pay a company.

You can also ask a CCCS debt counsellor the questions you've posed here, on the sticky thread at the top of the forum, called 'Struggling with debt? Ask a debt advisor a question' or something similar.

Your relative's problems will not be insurmountable but you do need to be sure you get specialist FREE, impartial advice.

SAAC

DVardysShadow

Rehan_Kingsland wrote: »

Hi there

Rehan Kingsland, is this you http://www.4networking.biz/Members/Details/31915 ?

IHateDida, be wary of the above poster. I think that the advice paints a blacker picture than the truth, so don't get too upset his contribution.

The normal way partner debt is addressed if it cannot be paid back is to place a notice on the deeds of the property which affects the ability to sell the place without the creditors knowledge [slight oversimplification there]. The partner who does not have debt will not be turfed out to pay off a lender - as the debt will not be secured.

There is also the question of mis-selling - as the borrower plainly does not have the means to repay.

eyeopener2

I thought the first post very fishy. So ignore it is probably the best idea.

Anyway, DVardy, as usual, has makes a very valid point so contact someone like National Debtline for advice then you can help the people involved when they are able to deal with the situation.

E2

mrsb83_2

Don't pay any attention to the first reply. He is promoting his business - and did it on another thread yesterday, was called out and his post deleted and he's back doing it again.

Regulars, please report the post if you get the chance.

IHateDida

Thankyou all for the helpful advice. We rang the National Debt helpline and they were very helpful and the relative went into the CAB today. Basically they have been advised to arrange to send budget statements and offer nominal payments to the creditors based on affordability.

This has taken a great deal of pressure off as they feared that they might lose their house.

Thankyou for the advice about the national debt helpline - the person I spoke to was the most helpful person I have ever come across at the end of a phoneline.

DVardysShadow

mrsb83 wrote: »

Don't pay any attention to the first reply. He is promoting his business - and did it on another thread yesterday, was called out and his post deleted and he's back doing it again.

Regulars, please report the post if you get the chance.

And now you have been instrumental in getting rid of the spam moron, it looks like you are accusing sickasachip13. Who very definitely is one of the good guys here.