an easy way to do this?

[millercc]

hi.

as i stated on my previous couple of posts, i'm trying to get mine and my partner's finances back under control.

I would like to know if there is an easy and cheap (preferably free) way of discovering all debts to which we are legally liable from creditors. I want to get a full picture of our finances, as i'm currently considering my options as to how to best deal with them?

I can't remember all of them, and it would just take way too long to wait for every single one of them to write to us and store the balances and account numbers.

I would like to be able to produce an I&E statement to them all, showing that they can't have the sort of figures they're asking for, and to offer a reasonable ammount, however if there are new people to be added every time a letter comes in, then someone somewhere is going to get very annoyed about the figures changing constantly.

also, if the figures are as high as i think they are (approximately 30k jointly) i will be seriously considering bankruptcy as neither of us are in the position of owning assets of value for bankruptcy purposes.

I really hope there is a simple way of doing this. thanks in advance :-)

[Pinky69]

Re: an easy way to do this?

You can get a free 30 day look at both your credit records from Experian and they will list what is recorded as outstanding, amounts and who currently owns the debts if they have been sold on. Remember to cancel before the 30 days are up or they will debit your bank account.

Have you had any letters from creditors at all? I would deal with those first and I wouldn't be in a hurry to contact those who have not contacted you. The way to handle debts is to pay the priorities first - rent/ mortgage.council tax/food - and what is left is what you have to pay creditors. If you have £10 a month left over and there are 10 creditors, they all get £1. Check statements to ensure they are accurate before you pay anything and if the debts are pre 2007 check that there are proper agreements for them. You decide what you have to pay, not them, you are in charge of this and they have no legal right to an ie. If they don't like what you are offering, they can take you to court and no judge will make you pay more than you can afford. Creditors know that and with court costs rising they are more and more reluctant to go to court. Once you have paid for a while they may be open to a Full and Final settlement offer to clear the debt.

In answer to your question, there is no easy way to do it. You are going to be involved in correspondence no matter how you choose to proceed.