Am I going to be arrested?

In_Search_Of_Me

aww hugs for you. I just posted on the thread - some people really are w****s! I am slightly confused though I have to be honest. Regardless of whether the debt is n your name or OH's surely getting shot of it quickly is the best option? ARe you on a DMP ir IVA? In which case what I think people were getting at is that if you have extra money coming in you have a duty to inform them or are effectively in breach of the contract you have - which is I think what some were trying to say.
Re the original question in your position and with the market so insecure I wouldnt even think of buying a house at the moment. Buy to let is a long term investment and you need to be able to support losses in rent etc, which you cant at the moment. You also need to think about your stress leves - if you feel this bad after a couple of numpties put their oar in imagine how you will feel if you dont get rent payments for 6 months or the tennant trashes the house? Not worth it is it eh!
So for what its worth I think you should pay off as much as you can before you get tempted with other money making schemes that could ultimately push you over the edge, financially & emotionally....big hugs for you & dont let them get you dow. Vindictive bullies are never worth it!

Penny_Racer

Gosh, I feel a little bit embarrished for blubbering like a baby (luckily you couldn't see me..it wasn't a pretty site!) but they frightened me to death!
OK I've composed myself now.
Thank you for all of your supprt and advice. This really is such a wonderful place.

So looks like investing this money isn't the way to go.

I've been on arrangements with all of my debtors for about 2 years now. So I don't pay any interest. Which ones should I look at paying off first? The big ones or the smaller ones?
Is it OK to offer more to one company than another? I went to see a solicitor for some advice last year and he mentioned that it would look bad in court (if it ever got that far)
Would it be OK to pay off all the smaller ones and then continue to pay off the bigger ones on a monthly basis?

Again thank you to everyone. xx:A :A :A :A

Sea78

PR - Might be worth ringing someone like the CCCS to ask advice about offering the f&f or even just about what you should do with the money? They must deal with this kind of thing all the time.

Sea xxx

RAS

What sort of arrangment and who arranged it?

In_Search_Of_Me

Are you on a formal IVA or DMP that is managed by someone or are you doing it yourself? I dont know much about these things but am sure someone will be along in a mo....my guess would be that the money should be split eveny between people you owe money to but that is a guess!

southernscouser

Well the good thing is none are charging you interest.

Do any of them give you any hassle? They might be the best ones to get rid off first?

Or maybe one with a high payment that could be used to put more to the other debts?

:think:

Maybe you could post all your debts and monthly payments etc and we can give you better advice.

webtalk

go and see a specialist debt advising charity. I know that the CAB is absolutely fantastic in some areas.

elona

From what I can recall you pay the debts with the highest rate of interest first and then work your way down the list from there.

I think there is a "snowball calculator" that shows you how fast your debts can be paid off using the above method.

Someone who know what they are talking about should be with you soon but big hug and do not let them get you down!

nearlyrich

I helped a friend of mine arrange F &FS with 5 creditors when her divorce settlement came in, she was able to offer about 50% of what she owed, the biggest creditor accepted on the first letter and the smallest took 3 attempts to finaly take the offered sum.

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Broken_hearted

OK having read the thread I can see where the problem is coming in mortgage in DH name debt in wifes. The money is there to pay yet they don't want to as it doesn't benefit THEM. A couples money is joint and although it may not be illegal it is unfair.