I really need some help

jay<-thatsnotmyrealname

Hi Everyone ive just signed up as i really need some help/advice. Now please bear with me as my debt story is a little hazy as i cannot for the life of me remember the full details as i have put it to the back of mind and i just cant get it back!

When i was 20/21 ( im now 32 ) my parents got into trouble with there house which was so bad my dad actually run away to commit suicide now i got loans and drew money out on my credit card to save the house, I was still living at home at the time. At the time i had a good job and i was paying the loans back monthly 1 loan was for £3000 another for i think £1500, My credit card was maxed at £3000, My brother also asked me to get a loan for him so he could start a business for £6000 and he promised me he would pay it back every month, being my brother and still a bit gullible i did this for him.

As my parents where not in a position to pay me any money back i was paying the loans back myself monthly, As for the loan i got my brother i also had to start paying this also as he couldnt afford to! I look back now and realise how stupid i was getting him a loan.

as the months went by i was still paying these loans & card without fail on my own with no help from my family, My brother persuaded me to join him in business being 21 i jumped at the chance thinking i was going to be a millionaire in no time and all my trouble would be over! Well that didnt happen and i never got a wage for over 2 years, I still had 3 loans to pay and a card at this point and being stupid and young i just buried my head in the sand and ignored it, I threw every letter away i ever got from the bank/debt collectors, After only 3 months of having no wages my parents sold there house and we moved somewhere else, I never directed my mail to my new address so i never received anymore letters i also wasnt on the electroll register. Fast forward to now and my situation is a bit different.

I fell out with all my family over my debt and hadnt spoken to them until last year nearly 10 years later, I just made myself disappear not being on the electroll register, no job etc i stayed at friends or in cars or anywhere i could. Ever since ive had this debt i have literally been looking over my shoulder every day, i constantly worry about it and its always in my mind to the point that i really considered if i killed myself at least it would be over!

Now im back living with my parents and im on the electroll register, I now have a girlfriend and would love to get my life back on track, Live life a little and even get married but not until my debt is sorted but thats the problem i dont know where to start, I have the chance of a job but i dont have a bank account for wages to be paid into, im too scared to go into a bank to apply for one as i just dont know what will happen but its really destroying my life

Please could anyone give me any advise as to where i start or what i do, I dont have a job at the moment so i cant pay them back.

I have no idea how much i owe and who too, I know it was a lloyds bank account, mastercard and i think the loans where with MBNA.

I have nothing to my name, No phone, No car, Nothing i live at home so pay no rent, i have no bills but also no income im even too scarred to apply for benefits incase i get debt collectors arrive on my door step, im really struggling to find a way out and just dont know what to do


I hope someone can please advise me

Thank you

Takeaway_Addict

You can't hide forever, you need to start confronting this head on with the knowledge that things are likely to get interesting in the near future.

It maybe worth looking at Statute Barred as well and do plenty of reading on how debt collection agency works

You either sit there and do nothing or move on and meet the challenges of life head on.

kimminess

Didn't want to read and run. This sounds like an awful situation you got yourself in, but very noble of you to help your parents like that.

Nothing is ever bad enough for you to want to kill yourself!! Please go to your GP or contact a charity like the Samaritans if you feel like this regularly, depression is an awful thing and so difficult to pull yourself out of.

The first piece of advice I can give you is to obtain a copy of your credit report to see where the debts are at. If you have not had any contact with the debt companies for over 10 years the debts themselves will be statute barred and so no company can chase you for money for them. If it has been that long they may not even show on your credit report! This will put your mind at ease and give you a sense of direction.

Let us know how you get on x

camuk81

Ok Jay deep breath, we all have made mistake's.

First no one can come and hunt you down, it does from a brief read sound like you are in a very unstable place.

Today is a new day. Ok first wagon in your arsenal is the following link

https://forums.moneysavingexpert.com/discussion/3558031

A lot of info but actually can help you were debt collectors can't turn up at your door, pester you if are not able to cope with it.

Second if you have not acknowledged the debt for more the 6 years you may have what is know as statue barred and the loan can be applied to be written on.

Small steps. Now money can only be taken off your benefits for items such as council tax and fine i.e. speeding tickets etc.

They can't take money from your benefits (please correct me if I am wrong) for credit cars and loans. They may ask for a payment but if you are on benefits you will be able to pay £1 a week.

Have you tried speaking to pay plan on CCCS. They can help you with this and be a hand to hold throughout this.

The next step is to work out where you. Apply for your credit file with all three agencies. The normal £2 letter will do. You can see what is on your file. You may well have to prove your identity as you've been off the electoral role for a few years.

As you have already seen we are all here to help and support you. So when ever you feel the need to rant or someone to talk to about things, pop on and say hello.

We are a very friendly bunch who have a diverse range of knowledge and we don't judge.


Good luck Jay. You can get through this, time to stop worrying your self sick and start on the rest of your life.

jay<-thatsnotmyrealname

Takeaway_Addict wrote: »

You can't hide forever, you need to start confronting this head on with the knowledge that things are likely to get interesting in the near future.

It maybe worth looking at Statute Barred as well and do plenty of reading on how debt collection agency works

You either sit there and do nothing or move on and meet the challenges of life head on.

Hi ill have a look at statute barred as im not sure what that is, Im not going to sit here and do nothing that is why i have come onto this forum so i can start to do something about it

Thanks

jay<-thatsnotmyrealname

kimminess wrote: »

Didn't want to read and run. This sounds like an awful situation you got yourself in, but very noble of you to help your parents like that.

Nothing is ever bad enough for you to want to kill yourself!! Please go to your GP or contact a charity like the Samaritans if you feel like this regularly, depression is an awful thing and so difficult to pull yourself out of.

The first piece of advice I can give you is to obtain a copy of your credit report to see where the debts are at. If you have not had any contact with the debt companies for over 10 years the debts themselves will be statute barred and so no company can chase you for money for them. If it has been that long they may not even show on your credit report! This will put your mind at ease and give you a sense of direction.

Let us know how you get on x

Hi thank you for your reply how do i get a copy of my credit report and if i do get it will anything happen ie debt collectors start arriving?

jay<-thatsnotmyrealname

camuk81 wrote: »

Ok Jay deep breath, we all have made mistake's.

First no one can come and hunt you down, it does from a brief read sound like you are in a very unstable place.

Today is a new day. Ok first wagon in your arsenal is the following link


A lot of info but actually can help you were debt collectors can't turn up at your door, pester you if are not able to cope with it.

Second if you have not acknowledged the debt for more the 6 years you may have what is know as statue barred and the loan can be applied to be written on.

Small steps. Now money can only be taken off your benefits for items such as council tax and fine i.e. speeding tickets etc.

They can't take money from your benefits (please correct me if I am wrong) for credit cars and loans. They may ask for a payment but if you are on benefits you will be able to pay £1 a week.

Have you tried speaking to pay plan on CCCS. They can help you with this and be a hand to hold throughout this.

The next step is to work out where you. Apply for your credit file with all three agencies. The normal £2 letter will do. You can see what is on your file. You may well have to prove your identity as you've been off the electoral role for a few years.

As you have already seen we are all here to help and support you. So when ever you feel the need to rant or someone to talk to about things, pop on and say hello.

We are a very friendly bunch who have a diverse range of knowledge and we don't judge.


Good luck Jay. You can get through this, time to stop worrying your self sick and start on the rest of your life.

Hi, Thank you for the reply i will have a good read through the link, i will also look at statute barred as other people have mentioned this but im unsure what it is, I havent talked to anyone about this, I have seen Martin Lewis on TV and thought this was the best place to come, This is the first time ive ever talked about it ( well typed!) When you say i need to find out my status with the 3 angencies, Im not 100% sure they are the correct people i had the loans with how do i find out? and what is the £2 letter?

Many Thanks again

rich11

1 Get down to the job centre and sign on sharpish.Its not a great deal of money but you are entitled

2 Go into a bank and open a basic bank account(these are free and anyone can get one due to government legislation)

3 The chances are the debts are statute barred if you havent acknowledged these debts within 6 years

4 Get copies of your credit report to find out what info if any they have on you.I guess they wont have a great deal

You sound like you have wasted the best years of your life hiding from this.Dont hide anymore enjoy your new relationship with the girlfriend and enjoy your parents get yourself a decent job and live your life

Good luck

mildredalien

Debts being statute barred means that creditors cannot ask you to repay them - it happens after 6 years of not acknowledging the debt at all.

You can get a copy of your credit report through Experian, Equifax or Callcredit (remember to sign up for the free month and cancel before then - the forums here can help you to cancel as they don't always make it easy!) These agencies can provide you with a full credit report access for a monthly fee (after the first free month) or I think you can get a single credit report from each of them for the £2. You should be able to find their websites online fairly easily and read through the info there.

thehappybutterfly

rich11 wrote: »

1 Get down to the job centre and sign on sharpish.Its not a great deal of money but you are entitled

2 Go into a bank and open a basic bank account(these are free and anyone can get one due to government legislation)

3 The chances are the debts are statute barred if you havent acknowledged these debts within 6 years

4 Get copies of your credit report to find out what info if any they have on you.I guess they wont have a great deal

You sound like you have wasted the best years of your life hiding from this.Dont hide anymore enjoy your new relationship with the girlfriend and enjoy your parents get yourself a decent job and live your life

Good luck

Great advice but I suggest you get a bank account sorted out first so you have somewhere for your benefits to be paid into!

Good luck! You've got a hell of a journey in front of you but I'm sure you'll rise to it.

Gimpsdad

Mildred is wrong, statute barred means only that debts cannot be pursued through the courts after 6 years. They can pursue you for ever if they want, just not through the courts.