I really have lots of questions, and I dont know who to ask. I have been off sick from work and am getting barley any money, I have so much debt that I cannot pay, let alone the usual bills phone, electricity, rent etc. Also the debt people are phoning constantly and now the phone has been cut off...... will they send someone round? What do they say? what can I say to them? I have no money.... Will they be adamant and not leave? will they try and take stuff from my house? does anyone know the process? and how to handle the situation?,,,,,any advice would be so helpful to me,,,, thank youI need help and advice about debt, help?
The Citizens Advice Bureau will be able to give you good adviceI need help and advice about debt, help?
you should call your creditors and explain that you are not working at the moment ask them to accept reduced payments of a set amount each week/month depending on what you have coming in. you'll find these people are willing to accept any payment rather than none! good luck
Don t panic !there is help avaidable . it does take time to sort out . i found the consumer credit counselling service really helpful.you do have to try and sort out priority arrears like rent first.
They won't send anyone around unless they're local. They can contact you but harassment is illegal. They can call friends, too. You probably had to give 2 or 3 contacts when you took out the loan. Borrow a phone and call everyone. Do it on a regular basis. This will cut out the need for them to contact you or friends. Live on no more than absolutely necessary and apply the rest to the debt. If you are working, you keep in touch with your creditors, and you pay what you say you will (even though it's very little) when you say you will, most creditors will work with you. That doesn't answer all your questions, please go to daveramsey.com.
you could try and remortgage your house... I hope all goes well, its no fun with no money, i know all about it.
Best wishes
www.creditinfocenter.com
First of all get to Citizens advice bureau if your in UK
They will make sure you are receiving all benefits you are entitled to...eg rent...council tax
They will also refer you to a money advisor/specialist. You will be advised to stop paying all the non priority creditors and make sure your priorities are paid eg.. rent gas elec etc etc
When the creditors phone you tell them you will be seeing the CAB and if they dont back off state that their contacting you is harrassment...( that works)
No one can take anything from your home unless a court has said they can....baliffs
Creditors often use the tactic of harassing their debtors, presumably in the hope that they will suddenly and miraculously find a large lump of cash that they had forgotten about. Sit down and sort out what you owe and to whom. Contact each company and explain your situation. Try to arrange reduced payments. If you are in the UK contact the CAB and make an appointment to see them, they are excellent about advice and will even write letters for you. they can also advise about benefits to which you may be entitled. Whatever you do, don't ignore any letters from creditors. If any creditors have passed your debt onto a collections agency don't worry they have no right to remove anything from your home or even to enter your home despite what they might say. the only way items can be removed from your home is by court order and if proceedings have been issued you will be informed by the Court. There is a load more advice I could give you, if you need to know anything else please leave a message for me under your question
if you pay for your home, and utilities.
and pay ZERO to all unsecured crditors.
they will charge off the debt as bad. then they sell the debt to a third party for about 10 cents on the dollar.
they will just wait around until you get solvent again then try to collect.
if you can live on cash and have no debt again , in ten years it will all just go away.
find a way to be self employed, like cleaning nice offices at night. only wages can be garnished, not revenue from a company you own.
after a messy divorce i defaulted on 60,000.00 in credit card debt, and ten years later it all dissappeared from my credit report. of course i learned my lesson and only live on what i earn, no debt, it feels great !!!
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