Feel like I am slowly sinking

beezlebob

I currently have £3k debt with vanquis, £1300 with aqua, £1400 with next, £700 with studio and an Amigo loan that my grandparents are guarantor for - my monthly payment for this is £242.00

To top it off I have until 1st January to vacate my current property.

I have also just received 3 council tax letters dating back to 2011 for unpaid amounts. As far as I was aware it was all up to date - so it is a bit of a shock! Obviously it needs paying.

Things are going to be financially difficult for the next 3-4 months at least. Is there any way I could write to the cc and catalogue companies and ask them to freeze the interest until this time or offer a % of the minimum payment?

What are the implications to my credit rating? Would they close the accounts? I am not spending on them nad haven't done for the last 2 months.

Everything is just happening at once and it is starting to get to me. I have suffered from depression in the past and definitley do not want to go through that again.

I had thought about bankruptcy route but I'd like to avoid it if I can. My husband knows about my debts and I have been working hard to improve my credit raiting but the past few months have been extremely tough and I have had unexcpected expense with trying to find somehwere to live for the new year.

Thanks in advance

merlin68

I would avoid the bankruptcy route as your grandparents are garantors for the loan. As the debt would then fall to them to pay.

beezlebob

merlin68 wrote: »

I would avoid the bankruptcy route as your grandparents are garantors for the loan. As the debt would then fall to them to pay.

Even if I did not have guarantor loan then I would want to avoid the BR route anyway. There is so many different plans that people can do but I am not wanting a long term DMP - I am just looking for something short term just until I am back on my feet.

longtermplanner

Those Amigo loans are killers - when will it be cleared? How upset would your grandparents be, if they are well off they be horrified at you struggling and getting depressed just because of this debt.

Can your husband help with the council tax arrears and the cost of moving?

longtermplanner

You may qualify for a Debt Relief Order rather than bankruptcy.

Is there any way I could write to the cc and catalogue companies and ask them to freeze the interest until this time

yes. Council tax arrears and the need to move are your priorities. This will however affect your credit rating.