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DD and SO during sequestration
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farmerlamb12
Posts: 2 Newbie
Hi, we are going down the route of sequestration. £40,000 in debt due to job loss, unable to pay mortgage and house was in severe negative equity. Home repossessed.
We both now have good jobs and rent privately. We have no assets or savings and 3 children. We moved to rural Scotland for a fresh start.
What happens to our monthly payments for the likes of car insurance, council tax, oil etc. there is no way we can afford to pay these off in full and are worried about not getting credit for these or if they freeze our bank account. We only have a basic bank account, no overdraft. Any advice please? We both need our cars for work (not expensive vehicles) and to get our kids to school, very rural so no reliable buses.
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You have two threads running on the same subject, your other post has reply's, so I will close this one.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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