1st Threatening bankruptcy please help!

Paul101082

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

rizla_king

Yes they can make you bankrupt. Ask on the dfw board and https://www.legalbeagles.info/forum for help

grumbler

rizla_king wrote: »

...Ask on the dfw board

>> Debt-Free Wannabe

Paul101082

What is the dfw board? Sorry I'm new to this

grumbler

See my post?

pogofish

Are MSE really trying to bankrupt you?

Paul101082

What do u mean pogofish? 1st credit are trying to bankrupt me

grumbler

He meant that you posted on the Site Feedback board.

>> Forum (all boards)

Paul101082

Soz I never been on these forums before so having difficulties navigating my way around lol