72k in debt....I feel sick

mumoftwins

moneymeltdown wrote: »

I have been talking to my mum about going B...I am terrified of it to be perfectly honest-in an ideal world I would love to pay the whole stinking debt off asap-but I am concerned about the implications of being a bankrupt-at the moment I can't even afford to pay the fee to be one!! grim!

Hi MMD,

I was in a similar place to you last year when I had my LBM - although the figures weren't as high it was still a lot as I am on my own with 2 children. The debts came from my marriage and unfortunately were in my name although taken out together. Anyway, I had had a rough few years and eventually contacted CAP (similar to CCCS) who took the whole lot away from me and dealt with the creditors so the phone calls stopped - what a relief!

Eventually, CAP advised me that the best way forward was bankruptcy and they supported me all the way.

Anyway, a couple of weeks ago I went bankrupt and believe me it is the best thing I have done - ok no credit for 6 years but I don't ever want credit again. My CAP rep filled my forms out and came to court with me. I now make sure that my rent, utilities are paid and am constantly checking to make sure all is ok, then once that is done I know how much we have to live on each week - not a lot but at least my finances are now manageable.

Good luck with everything and don't be afraid to post on BR Support thread, you'll get loads of advice and they are very friendly over there.

moneymeltdown

welcome me back to normality....I am now the proud owner of a new sort code and account number! just need to wait for the card and PIN number now! does anyone accept the VISA Electron card?

Marky74

moneymeltdown wrote: »

welcome me back to normality....I am now the proud owner of a new sort code and account number! just need to wait for the card and PIN number now! does anyone accept the VISA Electron card?

Have you thought about Bankruptcy or an IVA?

I have just come out of an IVA, and it was a hard 5 years, and a 1 year after it was finished, but it was worth it with set payments each month. And know that each month I was closer to finishing the debt. I know I have a debt now, but I recently got married, and we decided to save and put the rest on 0% cards which we are working to pay off.

I had a great supervisor, who was really really helpful.

trudij

hi - well done so far - it will get easier, honest !!!

Just a thought - Ive got a nationwide flexaccount - all you get is a cashcard, but you can pay DDs and SOs with it too...

keep it up!!

moneymeltdown

hi all,it's been a while - i've been working hard to make money to attack this massive debt and every single day feels like GROUNDHOG DAY!
HSBC have rejected my pro rata offer...the only creditor to accept my pitiful offer has been Goldfish who were thoroughly reasonable and polite to me!

MBNA are still lurking in the background as always

strumpet

Hi MMD

Just read your thread and whilst I can't offer any advice that you've not already had, I can send you a massive super-duper Strumpet cyber-hug and tell you that I'm thinking about you and wishing you well. Keep going, cos you've done so well so far!

Nil illegitimus carborundum!

Strumpet
xxx

moneymeltdown

morning everyone, has anyone heard of a company called RMA Resolve? They have kindly written to me today offering to negotiate repayment on behalf of AMEX...for free! They look like a DCA in disguise....this is very annoying as I have already contacted AMEX a few months ago with my offer of pro rata payments to pay back the debt. GRRRRRRRRR

moneymeltdown

i think i have been sent a cca signed by me from RMA Resolve a few days ago.its a photocopy dated 2001.does anyone know what I do now? thanks in advance

moneymeltdown

it's been a while since I posted but today I received a letter from ARROW GLOBAL LLC stating:
This is a notice,served under Section98(1) of the Consumer Credit Act 1974
NOTICE OF TERMINATION:
The Company by this notice terminates the agreement or treats it as terminated as of 29 Oct 2008. You are required to pay the full outstanding balance of £xxxxx immediatlely

and so it carries on and on in a scary way...stating I fail to pay within 7 days,formal action will be taken to recover the balance.

what does this all mean..can anyone help with any advice..i'm quite upset at the moment many thanks everyone x

RAS

What account does this refer to?