We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Token payments, then possible bankruptcy
wasntgoodenough
Posts: 19 Forumite
Can I just pay say £30 to £40 token payments towards my loans (monthly repayment is around £267, unsecured loan of £25K now down to £17.5K) for say 6 months until I get my act together? What sort of trouble will this get me into? Will HSBC be able to get a court order against me in that time?
I hope to be able to sort myself out in 6 months. If I am unable to, will consider bankruptcy.
I hope to be able to sort myself out in 6 months. If I am unable to, will consider bankruptcy.
0
Comments
-
I think what you are thinking of is a DMP or IVA? Yes they will affect your credit rating but less so than bankrupsy...
I would suggest contacting CCCS or sone of the other debt charities. Alternatively post your SOA here and we'll see if we can help you
DFW Nerd #025DFW no more! Officially debt free 2017 - now joining the MFW's!
My DFW Diary - blah- mildly funny stuff about my journey0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards