I have £4600 of debts and mortgage arrears of £6160 we are now paying a solicitor as we have gone through litigation. My husband is self employed and cash flow is terrible. I have set up a debt management scheme but been unable to make the payments therfor it will now default. Our debt is getting worse and worse and we are living on nothing. I thinkk bankrupcy would be the answer but cant afford £700 per person to declare this is there another way? Also if me and my husband seperate and he moves out. what do i do to contact all creditors and find out what im entittled to on my own.
Sorry to hear of your problems. I suggest you have a word with Viki who is our expert on here for some free advice as to what can be done for your circumstances.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
Sorry to read how your'e struggling at the moment - it sounds like your DMP payment may have been set too high if you are unable to make them at present - is this a result of the cashflow issues?
If you were to be petitioned for BR by a creditor then they would cover your fees but remember BR may have a negative affect on your husbands ability to continue trading depending on what kind of business he is in and if needs to have credit accounts with suppliers.
Have a look over your income and expenditure again to get a better picture of affordability now and see what options you have to address the debts. Can anything be done with your mortgage company i.e are you currently on repayment?
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at the IVA Advice Company
When you’re ready to ask us for help I’ll be there to take your call. Picking up the phone is the hardest part, from then on things WILL get better... For help, find our contact details at www.melaniegiles.com
Our debt is getting worse and worse and we are living on nothing
Posted - 24 July 2013 : 14:30:03
