need help after being stupid

razor1979

im 28 and married with 2 children aged 10 & 7 and my wife is also pregent with our third

over the last 10 years i have clocked up lots of debt and being stupid i moved 2 years ago and didnt provide forwarding on address to creditors and thought nothing of it then clocked up even more debt

im guessing im in the region of 35K in debt now, i dont own my house, but have a good job at the moment but as im an agency contractor in the IT industry that can change so quickly

at the moment i am meeting all my current debts but i really need to get a grip on all my debts from now and before i moved before they all catch up with me, the main problem is when i moved i ditched all the paper work and have no way of knowing who i am in debt with as they may have passed the debt on and how much i owe, i was thinking of going to a debt management company to try and get all my finances in order and get some kind of repayment structure but the first thing they are going to ask is who i owe money to and how much which i dont know

i have just applied to get my credit files but i dont think this will show me all i need to know and i do know my credit score is now very low

I have even thought about becoming bankrupt but i dont know if this will help or not

any help would be much appericated

Burlesque_Babe

The best thing is to get all your credit files. It will show everything you have taken out over the last 6 years and then you can take it from there.

There is a free trial for getting online access for your credit files. I'm pretty sure you can get some cash back if you do it through Quidco.

razor1979

once i have all my credit file what do i do next as before i moved i worked out all my income and outgoings divided up all the money i had left and offered this as payments to the different creditors but onlyonly 2 creditors accpeted this and the rest demanded payments in full with no neogation this it the reason i think i moved and ditched the lot and burried my head in the sand (which i know was wrong but didnt know what else to do)

Karmacat

Hello razor, welcome to mse. I can't help myself, but I know what you need to do. Go to the post at the top of this board - its a sticky, for newbies... and in the middle of it is a link to problem debts. Use that link - I think it'll take you to information about IVAs and debt management: NOT the paid advert that you see on tv, but free, impartial information.

Take your time, gather as much information as you can, and just take it step by step. And keep posting!

itsnever2lateisit?

Welcome to the boards razor, you will find a lot of help and support here. Getting your credit file is an excellent start point:T . Once you have that you can then sit down and calculate what you owe and to whom. Then you can put a statement of affairs together (sticky thread at the top of this board will guide you through this process) Until then there is little you can do, so please dont go having sleepless nights over it, nothing is beyond repair

Can I ask what has happened to the 2 creditors that you have been paying off, is this now done? Once you start to tackle this do remembe rthat while some of your creditors might demand repayment in full, they cant get blood from a stone. You have to stick to your guns, and treat all creditors fairly, so if you have a total of 35k debt and,say, £175 a month available to repay then thats 5% each

Best wishes

Shineyhappy

If I were you I would try and get together as much cash as possible to try and make further settlement figures.

Do you have any savings? I would also re do your statment of affairs so that you can see exactly where you stand. Are you paying any debts at the moment?

razor1979

yes i paid them 2 creditors off, the other just demandied full payment and then sold my debt on to different collection companies at the moment i am paying all my current commitments, a loan, 3 credit cards, overdfaft (total approx £10k) and normal house hold bills,

the only ones im not paying at the moment are past debts before i moved, total approx 25K i dont have any savings so i cant use what i dont have,

Also i think one of the main problems i have had in the past was due to my line of work i am a IT contractor and i have been lucky for the last 2 years as i have been employed by the same company through an agency but in the past i have been out of work for nearly 8 months and any insurance i had on cards i had been missed sold and because of my work i was unable to make claims due to unemployment

itsnever2lateisit?

razor1979 wrote: »

yes i paid them 2 creditors off, the other just demandied full payment and then sold my debt on to different collection companies at the moment i am paying all my current commitments, a loan, 3 credit cards, overdfaft (total approx £10k) and normal house hold bills,

the only ones im not paying at the moment are past debts before i moved, total approx 25K i dont have any savings so i cant use what i dont have,

Also i think one of the main problems i have had in the past was due to my line of work i am a IT contractor and i have been lucky for the last 2 years as i have been employed by the same company through an agency but in the past i have been out of work for nearly 8 months and any insurance i had on cards i had been missed sold and because of my work i was unable to make claims due to unemployment

Thats good:T How old are the other debts, and when did you last make payment?
Refering to your first post please DONT approach a debt management Co, they are interested in profit for themselves, and much of what you pay will line their pockets and not reach your creditors, meaning you will end up paying more for longer, better to use the services of one of the FREE charity organisations if it gets to that.
You have done the right thing in requesting your credit file, once you have that you will have a beter picture of the task in front of you

razor1979

the old debts steam back to Dec 2004 was when i made the last payments maybe even a bit longer but most would have been on the go since between 2000 and 2002

once i have my credit files i will looking into getting in touch with a free credit advice line like you have suggested hopefully they can help

itsnever2lateisit?

I have PM'ed you