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I have debts of 39k across 4 creditors. All are unsecured. I was made unemployed 3 years ago and haven’t found work since. I defaulted on all 4 of them around the same time.*
I’ve buried my head in the sand and ignored letters but now I’ve received a Letter of Claim. The same creditor offered to reduce the amount by 70% which was great but obviously, I still couldn’t afford that.
I’m married with kids and my wife has a steady income and has supported me enough without having to take on my debts.
Trying to figure the best solution here … I know I can try to hold the creditors off for a little longer (asking for proof of debt e.t.c.) but ultimately am I right in thinking accepting a CCJ will be the least worst option?*
I’d still have 3 years of defaults on file anyway but I’m unsure as to what the courts would or could ask me to pay with no income? I have no assets to speak of aside from what I’m using to try and find work starting up as self-employed.
I don’t think the creditors would be able to seek a Charging Order as the deeds of the house are in my wife’s name.*
I’ve considered bankruptcy but I used to contribute to the deposit, mortgage and one of the loans was even for an extension so I’d be screwed with beneficial interest I think and I wouldn’t want to jeopardise the family home.*
Should have sorted this so much sooner but any advice - especially on the CCJ - would be gratefully received!*
I’ve buried my head in the sand and ignored letters but now I’ve received a Letter of Claim. The same creditor offered to reduce the amount by 70% which was great but obviously, I still couldn’t afford that.
I’m married with kids and my wife has a steady income and has supported me enough without having to take on my debts.
Trying to figure the best solution here … I know I can try to hold the creditors off for a little longer (asking for proof of debt e.t.c.) but ultimately am I right in thinking accepting a CCJ will be the least worst option?*
I’d still have 3 years of defaults on file anyway but I’m unsure as to what the courts would or could ask me to pay with no income? I have no assets to speak of aside from what I’m using to try and find work starting up as self-employed.
I don’t think the creditors would be able to seek a Charging Order as the deeds of the house are in my wife’s name.*
I’ve considered bankruptcy but I used to contribute to the deposit, mortgage and one of the loans was even for an extension so I’d be screwed with beneficial interest I think and I wouldn’t want to jeopardise the family home.*
Should have sorted this so much sooner but any advice - especially on the CCJ - would be gratefully received!*
