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Rocky Road
Junior Member
176 Posts |
 Posted - 02 September 2008 : 20:54:49
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Hi,
I wonder if you could help me. I am under great stress at the moment as I am offering support & help to my Mum who cannot cope with being in debt and we fear is close to a breakdown.
Following the end of her marriage my Mum found herself trying to keep the mortgage going alone on her home, consequently she relied on credit cards - when the balance on the cards got high she would go to the bank for help who would increase her mortgage, give her a loan or increase her creit card limit - even though she could not afford this - and so eventually the situation would repeat itself. Over 2 years ago my Mum decided to sell the house and pay off what she could to the banks, all mortgages were paid off but she was left with 2 credit card debts and 2 bank loans (with the same bank). She had £25,000 left after the sale of her home and had to decide whether to pay off what debts should could (not all of them) and have nothing or whether to put the money into a new life. She decided to purchase a 'holiday' caravan to live in which is estimated in value at and costs less than £500 a month to keep running. Although these are not built for everyday life she is managing just fine.
At the same time we contacted CCCS for advice and she set a debt management plan with them whereby she pays what she can each month off her debts. We continously recieve mail from the people that she pwes money to making various threats and frequently the debts seem to change companies.
I feel we are now at the end of the line and would desperatley like some advice as to how we can move forward with this, she is petrified that she is going to end up with the bailiffs going to her caravan/home and taking what she has got and that she will be left with nothing. We have toyed with the idea of her making herself bankrupt but we cannot bear the thought of her losing the only home that she now has and also she would struggle to find anywhere cheaper to live. The debts that started off at £30,000 2 years ago have now soared to over £60,000 with the interst and charges that is being applied to them.
Any advice would be most gratefully recieved as this is starting to feel like a very heavy weight. Thank you |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 02 September 2008 : 21:10:15
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Hi and welcome Rocky road,
And as oyur name suggests and also your post it has been a rocky road indeed.
Whilst i cant really offer any advice about whether BR would be the right option for your mum, please hang on in there and someone who can will be along shortly to give you some advice.
Keep Smiling
Jo :)
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my updated blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 03 September 2008 : 12:02:31
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Hi Rocky Road,
Any letters from creditors etc should have been passed to CCCS who are handling the debt management plan. Technically, their behaviour is illegal as it is considered harrasment which is a violation of Section 40 of the Administration of Justice Act 1970.
Given the situation your mum is in, it would appear that BR is the right route for her to go.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Worried sick about Mum
