I Need Help Badly!

eternity_lost

hi there i have a real big problem i have had for about 6 years know and i need help, my partner was in a very well paid job and took out a loan 6 years ago or there about! he was made redundent and has never been able to find a job aswell paid, i didnt make enough money to pay the loan so it hasnt been paid in 6 years, he is currently out of work at the moment as contracted temp work is all he can get, im so tired of having this hung over our heads its driving me insane, and i think i may know have depression, what can i do? make him go bankrumpt? please help me

maxmycardagain

how have you managed not to pay it for so long?

just curious....

eternity_lost

well we have our own place some times he can be out of work for months at a time and then trying to catch up on other things that build up, its very hard, i also have alona that i pay every month i dont bring in enough to pay every thing

msmicawber

Hi Eternity-Lost,

Try not to worry as there may be things you can do that are less drastic than bankruptcy.

If you could give some more information then it would be possible to give more specific advice.

How much of the loan remains unpaid?
What is the interest rate on it?
When was the last payment made on it?

At the top of this forum is a sticky by Southernscouser entitled 'First time posters'. In it there's instructions for how to set out a Statement of Affairs (SOA). Have a look at that, then post the SOA here with the other details above and people will be able to give advice.

Best wishes.

Me_Myself_2

Have the been chasing you for this money for the 6 years?

Do you own your own home? (or does he?)

eternity_lost

they tried to contact him sereral times but we dfidnt give an answer at first we did, but the debt has been sold on to so many different people know its hard to keep track of things, the total debt including over drafts and a credit card is about £25,000 the original debt was for £15,000, it was paid for about 7 months and then he lost his job, i dont know what the interest rates are.

the confusing thing is when my partner tried to contact the bank in regards to it they said he didnt owe them any thing but wouldnt put it in writing? we havnt contacted any one in about 6 years or so.

i just hate this u all must think god pay ure debts woman but its so hard when its not my debt, i just cant see a way out

eternity_lost

the ast time we tried to pay some thing off was the credit card that was about 3 years ago, but the main loan hasnt been piad for 6 years or so, we dont own our own home i rent a property that is just in my name as im afraid they will try to make me pay for it, im am just about paying our bills at the mo, some times we dont even have money for food its got so bad this time round, i really dont know what to do about it

Me_Myself_2

I think you need someone to talk through your ooptions. Make an appt with CAB. You may want to consider bankruptcy if you do owe this money, but the debt may be statute barred now (out-of-date), so you won't have to pay it anyway.

Seek specialist advice.

eternity_lost

statute barred? how do i find out if that is the case? thank you so much for ure replys btw, this isnt my deby but it feels like it some times, i just want some thing done about it

msmicawber

Hi again,

That's why I asked you when the last payment was made. If you haven't paid towards or acknowledged a debt for six years, it becomes statute barred. That means that there is no longer a legal right for the lender to pursue you to pay the debt off.

In_Search_Of_Me

Can you find the original paperwork? Suggest you get as much infrormation as possible and get hold of one of the recc debt agendies or CAB for advice. Mre for your own peace of mind than anything else as it sounds like it my have lapsed? Has anyone chased you recently about the money? Big hug for you!