I feel I am drowning so much that I have hardly slept in months...

ian360

Hello,

This is my situation (in short)...

I am from the UK but I have been living overseas most of the time working for the last couple of years (I am currently in Central America). Before I came overseas I had a little debt but not much. However, I then got sick with severe pain in my teeth and face. Over many months, and after numerous trips to specialists in the UK, no cause was found. I finally got a great specialist over here to help me after it was discovered that I had a serious jaw bone infection. I was in so much pain and so sick that the treatment could not wait and so I borrowed the money to pay for the numerous surgeries that I needed to fix this. Altogether about £15,000.

However, I was feeling much better and my job was pretty good, so no problem. But then, two months ago, I lost my job. Well actually, the company who I was working for (a US company) did not renew my contract due to some kind of downsizing issue. Since then I have been stuck with no pay and no other money coming in.

To make matters worse, I am also an Australian resident, and I have to be back in Australia by June or I will lose my residency which I certainly do not wish to lose considering how many years I had to fight to get it. I'm planning to get there as soon as possible, and start picking up some more work to get things going again.

However, my current situation is that I am currently freelancing to get some work here and there (I am an Internet designer), but I am struggling to pay my basic needs (rent, food etc.), and pay the minimum payments on my current credit cards - which is a debt currently at around £16,000 (around $450 a month on minimum payments). I also can not cut back any more on my expenses as I am living as cheap as I possibly can right now. And even when work does improve, it is going to be extremely difficult. In addition, I have no family to help me with this.

So this month, I simply do not have the money to pay the minimum payments. I am trying my best to find a way out of this, but nothing is working out. I have even considered going bankrupt, but I was told that if I do this, my computer equipment etc that I use for my freelance work would be taken from me - is this correct? And what route should I take with the credit card companies - I have heard that sometimes you can call them and try to negotiate a different minimum payment until things pick up again. So I am not really sure what to do? I do know that I am feeling terrible right now.

Please help!

Ian

Migz

Hi Ian
I really do feel for you, and sorry you are having tough times, call the credit card companies and tell them your situation, if they don't know then they can't help... ask them to top the interet and lower the payments for you, some will some wont.
As to going bankrupt, please give it serious consideration and get some good advice first, however if this is your decision, it states in the information that you get from the court, they will not take the tools of your trade or your vocation.
I am sure someone else whoknows a little more than I do will gladly soon come along and offer some more advice.
Godd Luck
Migz

Broken_hearted

Did you borrow the money in the UK or USA.

RAS

BH is right, a lot depends where you borrowed the money (at least where the bank is based) and where you are living.

You may be able to get some advice at www.cccs.co.uk as the offer electronic support. They are a debt charity and do not charge.

ian360

Thank you for responding.

I borrowed the money in the UK - 2 Barclaycards and an HSBC Credit Card. I had these cards before I left the UK and informed the credit card companies of me working overseas. They said that this was not a problem as long as I gave them a UK address to send statements to etc. So I gave them a close friend's address.

Any more advice? Please?

Ian

Broken_hearted

Right for you thats a good thing as its much simpler. Have a look around the board and hopefuly someone will bealong soon to help.

tigerfeet2006

As it is a debt in GB then I would do as RAS has suggested get in touch with CCCS.

If we can help with any questions then we will try so keep posting.