Tweet
First, “The Story So Far”, fortunate as I am, I only had one bank claim with Halifax, who paid out £2200 just before court, and a C/C, with no agreement forthcoming since December 06, since than I have been helping other friends and relatives.
Well my brother has asked me to look at his financial predicament and I nearly s***t
myself, approx total of £70K unsecured debt to about 7 creditors, some with multiple accounts, £260K mortgage, and a business with finance outstanding of about £120K. His wife left him with all of the debts when she ran off with someone else, but that’s another story.
Since then his business has suffered and gone downhill and he is really struggling to keep afloat, I have managed to rescue the business for now by reducing the costs/overheads and it looks to be able to provide him with an income still, albeit a greatly reduced income.
Anyway he entered into Payplan, which was accepted by all, and is in the process of selling his house to remove the debt burden, when he heard about my success. After explaining the ins and outs, I’ve been lumbered with it, but I think this may be too big for me, so will be looking for some help along the way.
After careful consideration it was decided to do a Full SAR on all of them, first to give him some breathing space from one of his creditors (who although agreed to payplan payments, are itching to get a Charging Order on his house), and secondly to see if we can reduce the balance from charges etc, or offer a reduced final settlement if and when the house sells.
I will post each one under its relevant section so as not to confuse myself, or anyone else but would appreciate any help or advise.
BTW I have sent all SAR’s by recorded delivery on 21st June so the clock is ticking.
Morg
Well my brother has asked me to look at his financial predicament and I nearly s***t
myself, approx total of £70K unsecured debt to about 7 creditors, some with multiple accounts, £260K mortgage, and a business with finance outstanding of about £120K. His wife left him with all of the debts when she ran off with someone else, but that’s another story.Since then his business has suffered and gone downhill and he is really struggling to keep afloat, I have managed to rescue the business for now by reducing the costs/overheads and it looks to be able to provide him with an income still, albeit a greatly reduced income.
Anyway he entered into Payplan, which was accepted by all, and is in the process of selling his house to remove the debt burden, when he heard about my success. After explaining the ins and outs, I’ve been lumbered with it, but I think this may be too big for me, so will be looking for some help along the way.
After careful consideration it was decided to do a Full SAR on all of them, first to give him some breathing space from one of his creditors (who although agreed to payplan payments, are itching to get a Charging Order on his house), and secondly to see if we can reduce the balance from charges etc, or offer a reduced final settlement if and when the house sells.
I will post each one under its relevant section so as not to confuse myself, or anyone else but would appreciate any help or advise.
BTW I have sent all SAR’s by recorded delivery on 21st June so the clock is ticking.
Morg
Comment