Renting Expensive House, will OR make me move

TheGardener

I understand its complex but you should work towards making sure your most basic requirements are sorted out first - and that is somewhere affordable to live and the right support to help you move forwards. Finding a place to live is your #1 priority right now so try and focus on that step first - everything else can wait.
Stop paying your rent and use the money to put up a deposit on something you can afford. Any rent arrears will be fall into your bankrupcy if thats the path you take.

ACG

What they say and what they do can vary.
It costs them money to make you bankrupt, if they make you bankrupt there is no guarantee they will get all of their money back.

I would speak to step change.

jmb751

Ok i'll call stepchange. I'm pushing myself to the edge reading the contract and seeing what i've signed myself up for. What a f*ckin idiot i've been. I fell for sales tactics for one of the contracts. in the eyes of the law i'm an adult but i've behaved like a child. Thanks for your help.

slickric12345

fill in SOA
unless you have massive debts there should be plenty of light at the end of the tunnel with a £3400 monthly wage 
especially if you dont have any dependents

how much is this van worth?
seems odd that theyd repossess and you would still be on hook for £32k of future payments
how much is the current monthly van rental
and how much is the monthly commercial lease of i assume a premises and how long a lease is that for?

jmb its hard to give advice without knowing the details
would it be possible to employ someone to run the side business that has gone pear shaped at a smallish monthly loss until lease runs out and van paid off
or is side business completely knackered
if completely knackered do you know what the total side business debts and future liabilities are?

there may be a way to avoid bankruptcy and come to some sort of payment agreement with the creditors