Desperate

doublecastle

Husband and I separated, considering going BR, due to massive debts in personal and business. If I do will I be putting his share of the house at risk? He has no idea how bad the situation is.
Just received court papers for 11K loan, company want 2K per month over the next 5/6 months, rang this morning, girl on phone was insistant, there is no room for negotiation.
At the end of my tether

rayday2

Have you taken any professional advice about this? I would recommend face to face support via the local CAB or National Debtline who can help you over the phone.

doublecastle

Visited local CAB last week. gave me a booklet about debt. Told me I needed a job with income for them to 'take me on'. They also gave me the name of a business debt adviser.
I was told to ring them back to make an appointment, in the meantime I received the Court Papers.
I really don't know what to do

doublecastle

I have taken on a job with local office agency, part time in the afternoons. I claim tax credits, with a child element which will stop when my daughter leaves college in June, as will the Child benefit, and her EMA. Things are very tight now, don't know how we will manage then. Please help

rayday2

There are alternatives, like a DMP which will not mean losing the house but you really not professional advice as to what is the best avenue.

If you feel up to it take a look on the national debtline website or give them a ring, I do believe they have a business side too or can you put you in that direction.

Ames

I don't know why they said you need a job, they've been happy to help me and I'm on benefits. All their letters to me have said to go straight back to them if I receive court papers, so maybe you should try them again? Or someone like Payplan or cccs, they all offer different advice, I've had three different answers from different companies, so just because one place can't help you doesn't mean that others can't.

doublecastle

Please bear with me, finding it hard not to panic. The way the company I spoke to this morning made it sound, I need to start paying them straight away, OR ELSE. I don't think I have ever spoken to someone who was so unhelpful, she asked if any member of my family could lend me the money, when I told her no, she told me that I would have to find it then wouldn't I? Felt like saying, if I had the money I would pay it. I said it was an unsecured loan, she said they were applying to the Court make it secured.
All this is new to me, what does this mean?

CCCS_Sarah

Hi Doublecastle,

For your business debts you would be able to contact Business Debtline on 0800 197 6026 – they are an independent charity.

CCCS would be able help you put together a personal budget and let you know how much to offer and how to deal with your creditors. Our helpline can be contacted on 0800 138 1111.

If you were to go bankrupt this may effect your home but as I don’t have all your details it hard to advice. Contact the above and if there is anything else I can help with give me a shout

Good luck and let me know how you get on

Sarah

CCCS_Sarah

doublecastle wrote: »

I said it was an unsecured loan, she said they were applying to the Court make it secured.
All this is new to me, what does this mean?

The creditor will be talking about charging orders. I have attached a link that explains in detail what they are and how they apply for them. Have a read through and let me know if you have any questions.

Often creditors try and use charging orders as a scare tactic so if you are unsure please call our helpline

doublecastle

I don't think they have a CCJ against me yet, I only received the papers on Saturday morning, I tried to talk to them as I've said to find out what my options were, but all she kept saying was that they wanted 2K+ per month, no room for negotiation. Surely they can't be so inflexible?
Thank you for your advice, I will be calling the National Debtline in the morning (at work now)

rayday2

They can take lower payments but they just keep pushing in the hope you will crack.

Once you have either National Debtline, CCCS (which are open till 8pm I believe) or Payplan behind you they will usually accept lower. Even if they don't and you get a CCJ it would be for a more realistic amount that you can afford rather than their £2k they want.