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Hello,
This is my first post so hope it all makes sense!
I have recently received a couple of letters from Morgans Solicitors for a debt i owe to Barclays(credit card debts approx £23,000 outstanding over three accounts with Morgans), i have been in a DMP with Stepchange for three years and have been paying them what i can afford, the letter was saying they have forensically been checking my finances through public records and have discovered i owe more than one property, (worded as if i had lied to them) the extra property i own is a property i rent out, it does not have much in equity and Stepchange are aware of this and it is listed in my budget, Stepchange say it is not worth selling as the equity in it would not clear debts, so they agree the fact it is bringing in extra income is a good thing as this will clear the debt sooner. Morgans feel it would be a good idea for me to go Bankrupt.
I wrote back to Morgans explaining yes i do own the extra property, and that i was not hiding this fact as it shows on my budget with Stepchange, i pointed out i did not want to go Bankrupt to escape my debts, as at the end of the day i owe that money and would like to pay it off, admittedly it will take several years.
They have since wrote back asking me to provide address information for this additional mortgage ( as it is a old mortgage it does not show on public records) i think they are trying to issue a CCJ and then a Charging Order, apart from the obvious of paying off the debt in full, of which i cannot afford to do, is there anything i can do to stop them going down this route? is it worth putting in a CCA request before i respond back to there letter?
As i have said, i am not trying to get out of paying what i owe, i understand i owe, but dont if possible want a CCJ or Charging Order.
I look forward to any suggestions.
This is my first post so hope it all makes sense!
I have recently received a couple of letters from Morgans Solicitors for a debt i owe to Barclays(credit card debts approx £23,000 outstanding over three accounts with Morgans), i have been in a DMP with Stepchange for three years and have been paying them what i can afford, the letter was saying they have forensically been checking my finances through public records and have discovered i owe more than one property, (worded as if i had lied to them) the extra property i own is a property i rent out, it does not have much in equity and Stepchange are aware of this and it is listed in my budget, Stepchange say it is not worth selling as the equity in it would not clear debts, so they agree the fact it is bringing in extra income is a good thing as this will clear the debt sooner. Morgans feel it would be a good idea for me to go Bankrupt.
I wrote back to Morgans explaining yes i do own the extra property, and that i was not hiding this fact as it shows on my budget with Stepchange, i pointed out i did not want to go Bankrupt to escape my debts, as at the end of the day i owe that money and would like to pay it off, admittedly it will take several years.
They have since wrote back asking me to provide address information for this additional mortgage ( as it is a old mortgage it does not show on public records) i think they are trying to issue a CCJ and then a Charging Order, apart from the obvious of paying off the debt in full, of which i cannot afford to do, is there anything i can do to stop them going down this route? is it worth putting in a CCA request before i respond back to there letter?
As i have said, i am not trying to get out of paying what i owe, i understand i owe, but dont if possible want a CCJ or Charging Order.
I look forward to any suggestions.