If I Didn't Pay My Debt What Is The Worst That Could Happen?

carrottopsuk

nirelandguy wrote: »

My SOA is below, As you can see we don't own a home, The only thing of value is a car which isn't ours I.E it belong to my other halfs brother as we couldn't get credit he put it through in his name. We have nothing of any real value in our house. Our credit rating is already in tatters and we have sort of came to realise that we probably will never get credit so thats no big loss. Infact what have we got to loss?

Income
My Pay 1.022
Partner 346
Child /B 130
Child Tax 265
Total 1.763

Expense
Rent 480
Electricty 40
Telephone 40
Internet 25Who are you with? Can you not get Virgin's 2 for £20 deal for telephone & broadband? (If they still offer i)
Oil 100 ???
Sky 20 Is it possible that you can cancel Sky and do without it until your finances are back on track?
Car Finance 200
Road Tax 15
Insurance 28 I presume this is car insurance?
Fuel/Parking 120
Food/Cleaning Etc 300 Have you tried the Oldstyle board for suggestions on how to keep costs down?
Tobacco 50It's a pity you (or your partner) couldn't give up smoking but you may have already tried and you're probably under too much stress at the moment to even try.
Clothing 40 Can you not make do with the clothing you already have for a while and perhaps seek cheaper clothing for your children?
Tax Overpament 100& HB Overpayment 40
I don't suppose you can ask them to spread the repayments over a longer period as you are struggling with debt at the moment. Tax is quite scary so they may not be the sort of people who negotiate but perhaps the HB will,
Social Fund 40Have you asked Social Fund whether they can spread out the debt & lower your repayments based on your circumstances?
HP Furniture 80
MBNA 20
TOTAL £1758

DEBT
ARGOS £740
BOI £1.416
B/HORSE £319
BT £220
CAP'ONE £986
MBNA £3.380
EOS £68
F'INT £712
L'WOOD £726
WELCOME £1500
N'WIDE £522.35
TALK TALK £87
HFC £734
MBNA £1357
M'CROFT £750

Good luck!

kittiej

Gemmzie the car is a debt, he doesn't own it and maybe he needs it to get him to work and back?

NIRE you need to get proper advice and sooner rather than later.

There has to be a solution even if it was to go BR.

Just don't get yourself into a state.

There is help for you out there, you just need to ask.

carrottopsuk

Gemmzie wrote: »

Sorry but I actually think your attitude is disgusting. You have a HP car and furniture - don't you think they'll take them away first?

You can't choose to keep some things, pay for luxuries and then not pay your debts.

Hi Gemmzie,:D

There's been a few posts by Northern Ireland Guy these past few days. If anything he seems to be really worried about the debts.

postingalwaysposting

nirelandguy wrote: »

Income
My Pay 1.022
Partner 346
Child /B 130
Child Tax 265
Total 1.763

Expense
Rent 480
Electricty 40
Telephone 40
Internet 25
Oil 100
Sky 20 ~ can this go ~ freeview?
Car Finance 200
Road Tax 15
Insurance 28
Fuel/Parking 120
Food/Cleaning Etc 300 ~ who is in the house? If its just two adults & children you can easily half this. Go onto the old style boards and they will help alot. Also do the cupboard challenge.
Tobacco 50 ~ this can go, quit/cut back
Clothing 40 ~ this is a luxuary at at the moment can really go except essentails, you can always mend and make new.
Tax Overpament 100
HB Overpayment 40
Social Fund 40
HP Furniture 80
MBNA 20
TOTAL £1758

So you have £5 spare each month to service all the other debt apart from hp, mbna & car? If you make the changes above this will rise to £265.00. Firstly you need to contact cab/payplan/cccs. If you put off talking to the crditors or making some real changes the situation will get worse. Hiding from it wont make it go away. Please speack to a free advice service asap... they will help you set up a dmp/iva whichever is suitable in your situation.

Good luck

I'mcomingbackasaman

nirelandguy wrote: »

My debt in the debt section in my SOA, If I didn't pay it whats the worst that would happen?

Sure I could end up in court but even the Judge would see its unenforable, Tortured by creditors would be nothing new

You need to pay your priority debts nirelandguy like your rent to provide a home for your family. A friend near me just got evicted after racking up £3000 worth of rent arrears. She ended up in a hostel and it's not a very nice place to bring up children not to mention them having to move school etc.

Give all your expenses a good look at and see where you can cut down as much as possible. Write to all your debtors asking them if you can pay a reduced amount for the time being.

See if you have any charges you can claim bank, loans, etc. and use this money to pay off your debts.




You have to think of your children, it would be different if you only had yourself to consider then I suppose you could be indifferent about debt if you were the only one to suffer. Everything you have on finance hp etc, would be taken back and you would be prosecuted for not having a tv. licence etc if you don't pay for them.

Like my dad always says there's nothing for free in this life.

In_Search_Of_Me

Hope youve had good sleep and its given you some thinking time.
At the end of he day this isnt just going to go away. I can understand why you want it to but it wont! You need to take control & sort things. To answer the question about what would happen if you didnt the simple answer is that it is likely that companies will continue to hound you for the money, relentlessly. At the end of the day they dont care about you personally or the impact that harassment will have on your mental health & those around you - they just want their money pure & simple and they will go on and on and on until they get it.
If the hounding doesent work then they will probably get the bailiffis in to seize goods - tv, sofa, furniture - whatever they can take to sell & make money!
As peope have said there is room for improvement in your SOA and you have a decision to make - take responsibility and start paying the money back or keep pretending its not happenig. With the latter you will then have more fees (lates fees, court fees, bailiffs visits fees etc) added to the debt and it will increase at a rate you would not have believed possible! With the former you take responsibility and move forward in a positive way!
What you also need to remember is that the vast majorty of us here have huge debt, understand how hard it is but are taking responsibility and making huge efforts to pay our debts off so posts saying "can I just get away with not paying" do tend to cause a bit of upset because we're slogging our guts out to get things paid off! I can understand why you asked the question but you also need to understand why people felt so strongly about what you said!
It is tough, its a long hard road but its doable. As people have said get in touch with CCCS or one of the free agencies (NOT the ones on TV) and look at the options....
Hugs for you! Keep posting & dont give up hope!

System

In_Search_Of_Me wrote: »

Hope youve had good sleep and its given you some thinking time.
At the end of he day this isnt just going to go away. I can understand why you want it to but it wont! You need to take control & sort things. To answer the question about what would happen if you didnt the simple answer is that it is likely that companies will continue to hound you for the money, relentlessly. At the end of the day they dont care about you personally or the impact that harassment will have on your mental health & those around you - they just want their money pure & simple and they will go on and on and on until they get it.
If the hounding doesent work then they will probably get the bailiffis in to seize goods - tv, sofa, furniture - whatever they can take to sell & make money!
As peope have said there is room for improvement in your SOA and you have a decision to make - take responsibility and start paying the money back or keep pretending its not happenig. With the latter you will then have more fees (lates fees, court fees, bailiffs visits fees etc) added to the debt and it will increase at a rate you would not have believed possible! With the former you take responsibility and move forward in a positive way!
What you also need to remember is that the vast majorty of us here have huge debt, understand how hard it is but are taking responsibility and making huge efforts to pay our debts off so posts saying "can I just get away with not paying" do tend to cause a bit of upset because we're slogging our guts out to get things paid off! I can understand why you asked the question but you also need to understand why people felt so strongly about what you said!
It is tough, its a long hard road but its doable. As people have said get in touch with CCCS or one of the free agencies (NOT the ones on TV) and look at the options....
Hugs for you! Keep posting & dont give up hope!

I have been with CCCS and everthing was great until MBNA sent us another credit card at Christmas unanounced, and if you had a SOA like ours what would you do? I mean we didn't know how we where gonna get the kids anything, And while CCCS where good they didn't allow for things like Christmas. It was obviously a money making exercise by MBNA, they new we couldn't repay it, And then after Christmas they phoned us up saying because we already defaulted with them and got another card this was fraud, and if we didn't make the min payments we would end up being charged with fraud. I phoned CCCS for help they ditched us, didn't do one thing to help.

I tried Payplan and explained all and they wouldn't help us either, so its just now that all the creditors are torturing us again with horrible letters etc.

I have tried to cut back but my efforts are in vain. Last week I went to Tescos and bought all there Value range and was very pleased at the saving, got hoe and no one will eat the food. I said to the other half where were you brought up, I said I'm the one with the rich parents and brought up in a higher class back round, your parents never worked in there life, If I can lower my standards you can, but it ended in a fight as it always does, she is no help at all, and its alot for 1 person to take control off.

MissEyre

Your OH needs to understand that you don't have the option of choosing branded stuff at the moment-you simply can't afford it. Some people are so hard up that they struggle to afford value food-this kind of snobbery is probably one of the reasons you are in debt now. As for 'higher class' anything-I don't think it has anything to do with class, I think it comes down to both of you having your eyes wide open and knowing that you want your life to be better than it is now. That means making changes, and you've had some great suggestions through already.

Good luck.

System

Anyone know of any other debt management companies,? Its all to much for me.

carrottopsuk

I agree, class has nothing to do with it. It probably annoyed her bringing that up.:eek:

On the value food front, some things we buy value and some things we don't. However, there are some things I would continue to buy as value even if I never owed a penny as I can't see much difference.

Also, have you tried other stores such as Aldi (I only buy selected things from there but many use it for their whole shop). I love Home Bargains where you get labelled goods at reduced price.

Do you cook from scratch? The old style board gives lots of suggestions. Some of the food you can cook is a fraction of the price of ready meals and tastes so much better. If you cannot manage to cook from scratch every night, you can learn some quick meals from scratch or batch bake and freeze the extra portions. Start off slowly until you become more organised.

Have you seen Sammy Kaye's thread on how to keep her monthly budget low? It makes some interesting reading:

http://forums.moneysavingexpert.com/showthread.html?t=697339

Also consider popping into the shops at the times they reduce bread, other goods etc (yellow labels) as long as it doesn't cost more in petrol getting there.