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Find myself in debt again! (Scotland)

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Comments

  • RAS
    RAS Posts: 36,605 Forumite
    Part of the Furniture 10,000 Posts Name Dropper

    Close the catalogue account.

    As I understand it you are not currently using any formal debt solution? If you are "favouring a creditor" is not allowed, as I understand in Scottish rules.

    What is with the £21k secured debt? Is that for a car that you seem hardly to use?

    Are any of your unused accounts offering 0% deals (it happens).

    Do not use any of your other accounts to increase your indebtness.

    Do put every penny you can from money you're no longer paying into an emergency fund. In an account you don't otherwise use. An instant access ISA would be good. Hopefully you'll have something useful by the time the debts default.

    If you've have not made a mistake, you've made nothing
  • sourcrates
    sourcrates Posts: 32,615 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper

    Treating creditors fairly only applies to insolvency debt solutions, you can pretty much do as you please outside of those.

    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-letter
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