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1st Threatening bankruptcy please help!
Paul101082
Posts: 10 Forumite
Recently 1st Credit issued a statutory demand followed by a bankruptcy petition for a credit card debt 3 years ago for £4462. I'm worried and don't know what to do next.
I've done myself a budget sheet to see what id be in a position to be able to pay back but I'm struggling every month to make ends meet as it is so would only be in a position to offer £15 a month and I have read on other forums of such offers not being accepted.
I'm worried as I'm a homeowner and don't want to lose my house. I was lucky enough to get one of those 125% mortgages 8 years ago. The mortgage was for £65,000 and I had and unsecured loan on top for £19,500 to pay off other credit cards.
In those 8 years I have cleared off £8,000 off my mortgage but my flat is only valued at about £70,000 as it has a low lease on it.
Will they be able to make me bankrupt on this debt even though I am offering to pay what I can afford or are they just scarymongering me? Has anybody else that's a homeowner had these experiences with 1st credit?
Thanks in advance
I've done myself a budget sheet to see what id be in a position to be able to pay back but I'm struggling every month to make ends meet as it is so would only be in a position to offer £15 a month and I have read on other forums of such offers not being accepted.
I'm worried as I'm a homeowner and don't want to lose my house. I was lucky enough to get one of those 125% mortgages 8 years ago. The mortgage was for £65,000 and I had and unsecured loan on top for £19,500 to pay off other credit cards.
In those 8 years I have cleared off £8,000 off my mortgage but my flat is only valued at about £70,000 as it has a low lease on it.
Will they be able to make me bankrupt on this debt even though I am offering to pay what I can afford or are they just scarymongering me? Has anybody else that's a homeowner had these experiences with 1st credit?
Thanks in advance
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Comments
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Yes they can make you bankrupt. Ask on the dfw board and https://www.legalbeagles.info/forum for helpStill rolling rolling rolling......
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SIGNATURE - Not part of post0 -
>> Debt-Free Wannaberizla_king wrote: »...Ask on the dfw board0 -
What is the dfw board? Sorry I'm new to this0
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See my post?0
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Are MSE really trying to bankrupt you?0
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What do u mean pogofish? 1st credit are trying to bankrupt me0
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Soz I never been on these forums before so having difficulties navigating my way around lol0
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