Some friendly advice needed

geezernet1970

#1
Hi all, I have a big credit card debt problem. I currently have debts in excess of £40'000 accross my cards. I am currently unemployed and have been since August 2016. I have a compulsive shopping disorder which is nearly stopping as all of my cards have been blocked. I haven't been successful in job hunting as I currently have some mental health issues. I have lost my PSV licence & I have been turned down for my PCO licence. Currently I am receiving around 30-40 calls per day from the various card companies & I'm worried now I will have debt collectors knocking on my door. Any advice at all.

sourcrates

geezernet1970 wrote: »

#1
Hi all, I have a big credit card debt problem. I currently have debts in excess of £40'000 accross my cards. I am currently unemployed and have been since August 2016. I have a compulsive shopping disorder which is nearly stopping as all of my cards have been blocked. I haven't been successful in job hunting as I currently have some mental health issues. I have lost my PSV licence & I have been turned down for my PCO licence. Currently I am receiving around 30-40 calls per day from the various card companies & I'm worried now I will have debt collectors knocking on my door. Any advice at all.

Hi,

Welcome to MSE.

Any reason why you can't go bankrupt ?

Do you own a property ?

SOA (statement of affairs) the first step, (but as your unemployed, that may be a pointless exercise).

However, you can find it here :

http://www.stoozing.com/calculator/soa.php

Farel01

sourcrates wrote: »

SOA (statement of affairs) the first step, (but as your unemployed, that may be a pointless exercise).

However, you can find it here :

http://www.stoozing.com/calculator/soa.php

It's probably still good to get an idea where their outgoings are at? And benefits are income as well.

National_Debtline

Hi

Bankruptcy was my first thought too, providing there wouldn’t be any particularly serious implications such as losing an asset or a rental tenancy. Overall I think it’s best to contact a free debt advice agency for full advice.

I agree posting a SOA here is a good idea anyway though, to make sure your current situation is sustainable.

For now you can send your creditors this ‘hold action’ letter. It’s asking them to leave you alone for at least a month while you seek advice –

www.nationaldebtline.org/EW/sampleletters/Pages/Hold-action-on-your-account-%28sole-name%29.aspx

James
@natdebtline