Help 25 with £30,000 of debt

bazzer86

HappyMJ wrote: »

......Have they actually sent you a Statutory Demand? If you cannot satisty the demand then they should have laid out the steps in the demand of what will happen next. Is the demand in the correct format on the correct form? They can charge interest if they want. It will be at a certain rate. The rate if it's a statutory rate will be BOE base rate plus 8% per year. The interest does not compound. So £2 a day would imply a debt of £8,590 is still outstanding.

yes the amount outstanding is aprox £8,800 on that one debt and they did serve me with the demand because they was persuing bankruptcy but i have managed to stop that with these payments but now they are asking for more.

jon1965

bazzer86 wrote: »

Also may i ad that a loan i had with Rbs has said they have lost the contract that i have signed , i have asked people about where i stand with this but never get a clear answer

any suggestions

When was the RBS loan taken out?
I believe that it may be unenforceable which means that you don't need to pay. They can chase you however but not go to court. After 6 years of not acknowlinging the debt it would be statute barred or effectively finished with

nancmat

Hi I just wanted to say I was also in 30k of debt when I was early 20's, now 29 its clear!! I was paying out £258 loan, a £209, loan & £126 loan each month for the last couple of years, and years before of upping o/d and cc's. It was so hard and at times I was mega skint, but you will get there. I still have a couple of grand to go but will get there slowly. I really found earning more money & cutting down on outgoings the only way out.

pippitypop

If you haven't heard anything in 6 years.. I would get a copy of your credit report. Find out how much you really owe, see if the debt is now showing as settled. You can see I am in a similar position of debt to you and am only a few years older. Both my partner and I's income go into the same account though so we can blast through debt alot quicker. Decide how much you can afford to pay off each month and pay off the most expensive debts first. Good luck x

ellesbellesxxx

Good luck with whatever you decide!