debt making me sick

sourcrates

clockfreddie wrote: »

Thank you so much for this I'm very grateful to you and will look into it

Not a problem !!!!

On_my_way

It would be of no real benefit to you to go down the DMP, IVA, bankruptcy route unless you are absolutely forced to.

As well as the things that are listed above, you should study this forum for all the ways that you can seriously cut your spending and change things around before they get worse.

clockfreddie

Thank you, yes that's what I was thinking too it wouldn't be of any benefit at all

dancingfairy

Firstly the most important thing in a childs life is you being in it, for a start. You are helping to provide for them by giving £100 a week, so it's not like you're shirking your responsibilities.
Facing up to the problem and getting it down on paper is definitely half the battle.
I'd start by working out your incomings and outgoings and seeing how much you have left to tackle your debts. Normally you'd split the amount you have 'spare' between your debts, so the biggest debt gets the biggest share, the next biggest gets the next slice and so on. That's the fairest way of doing it. They might whinge and moan but a regular payment is probably a better bet than what they are currently getting (ie no money or sporadic payments, here and there). Make regular payments and you both know where you stand. Sure they may bleat a bit about taking you to court etc etc but frankly if you don't have it, they can't have it. It sounds like you don't have any assets either so frankly they can take your offer or leave it.
Chin up.
df

fatbelly

clockfreddie wrote: »

I need some advice on my debts I've been trying to hide from them but I no I need to face them but I really need help on it I owe RBS £9911,Barclay card £4,549,Santander £4000, BOS £2000 these are all in default as I have not been able to keep up with the repayments

I've tried a couple of years ago to face these debts and thought about an IVA or bankruptcy but I work as a sales manager and I know my boss would frown on me for going down this route.So for a few years now I've just been ignoring them I no it's not the answer and I've been paying my overdraft on my down which is at £650 now.

I work full-time and earn £500 a week and my monthly out goings are roughly £1500 so I would have money left over to try and pay something to my debts but I've no idea where to start please can someone give me some advice on what to do.

I'm 59 I rent my home and I don't own a car or house I am separated and have two young children they live with their mother and I pay child maintenance of £100 a week.I really worry to the point it's making me ill I worry about my children's future and need help to sort my finances out .

No-one seems to have asked the obvious question before advising the OP.

When did you last make a payment to (or acknowledge in writing) these debts?

You say you started missing payments in 2009. If there has been a period of six years (England/Wales) of no payment, or shortly will be, then the debts are (or will be) statute barred under the Limitation Act and under FCA guidance the creditors can be made to stop collecting.

https://www.nationaldebtline.org/EW/factsheets/Pages/25%20EW%20Time%20limits%20for%20recovering%20debts/Default.aspx