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Debt making me unwell

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  • #1

    Debt making me unwell

    Hi
    Just after some general advice. Firstly I suffer with depression and anxiety, I also jyst had major surgery after being unwell . I'm currently on bed rest and I am a homemaker with four children so unemployed. My Husband is employed but already has an iva.
    I have numerous debts dating back to 98/01 they total to around 7000 . They where all managed on a dmp taken out around 2003... paying each debtor £ 1 . However this seemed to stop in Aug 2016 ??
    I have ignored numerous letters and now serious threats from reston solicitors Cabot Moorcraft. None of these previous defaults show on my credit file?. My question is should I just file for a Dro or Bankcruptcy. I have no assets and live in a housing association property. I also now have rent /housing benefit arrears and have a new debt of around 3000 although i have been paying that.
    I Just want to be free I feels like it's haunted me forever . Any advice would be greatly appreciated.
    Tags: None
    • 1 thank
  • #2
    Re: Debt making me unwell

    tagging [MENTION=48934]Debt Camel[/MENTION] for advice xx
    Debt is like any other trap, easy enough to get into, but hard enough to get out of.

    It doesn't matter where your journey begins, so long as you begin it...

    recte agens confido

    ~~~~~

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    • 1 thank

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    • #3
      Re: Debt making me unwell

      How long does your husband's IVA have to run? Why did he not go bankrupt?
      • 1 thank

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      • #4
        Re: Debt making me unwell

        Hi , my Husbands IVA has only been in place about 6 months . I believe it was due to not having the funds and he was worried about his car being taken ....its value is 1500 approx .
        • 1 thank

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        • #5
          Re: Debt making me unwell

          How much is he paying to the IVA? how large were his debts?

          How big are your rent arrears? What payments are you making towards the rent arrears? Do you have a suspended possession order?

          How large are the housing benefit overpayments? Any suggestion of fraud? (Sorry, I'm not suggesting that, but it affects the debt solutions if there is.)

          Sorry for all the questions...
          • 3 likes

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          • #6
            Re: Debt making me unwell

            He is paying 110.00 on his IVA. Rent arrears only couple of hundred no possession order. No fraud got into issue with hb when husband worked for agency . Always different pay. We pay £50 a month on hb overpayment.
            Many thanks for your help. Sorry husbands debts where 15000
            • 1 thank

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            • #7
              Re: Debt making me unwell

              OK those rent arrears sound manageable.

              I think you both should talk to National Debtline 0808 808 4000. You about a DRO and him about whether he has any better options apart from carrying on with this expensive IVA.
              • 3 likes

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              • #8
                Re: Debt making me unwell

                I know this is easier said than done but please try not to let this cause you to feel depressed. Most of us have been there and debt is not terminal! Honest. Actually, the skinter you are the better because the debt collectors cannot get blood from a stone. If you can show you can only pay £1 then they won’t pay out to take you to court. You must not ignore the letters but neither should you be scared to death by them. Debt camel knows what the story is and has steered many a desperate soul through pretty stormy waters. You have to realise that you will get through this and your best days are yet to come. Look up and look forward. Take action and start dealing with the situation -look on it as a business and not a personal problem because you are not a criminal. You are just the same as the rest of us.
                Take DC’s advice and get your life back on track. If you still find things a bit much go and ask your doctor for help. There is no shame in that and it is what the GP is for.
                If you are awake in the wee small hours do not lie there fretting; get up, come on here and browse the back catalogue of success stories or read through the Friday smiles! You are not alone and you are part of a very big gang!

                An optimist is someone who falls off the Empire State Building, and after 50 floors says, 'So far so good'!
                ~ Anonymous
                • 3 likes

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                • #9
                  Re: Debt making me unwell

                  Paws talks sense pleasethink of all the good things in your life and pit the debts on the backburner as one who has been there it does get you down but getting advice and support from others will help
                  • 3 likes

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                  • #10
                    Re: Debt making me unwell

                    If these debts are old (you say from the '90s) some of them may be unenforceable in court anyway.

                    Why not send a s 77-79 CCA Request to each one to establish their legal status. It would be a pity to pay money to a creditor if you don't owe it in legal terms.

                    That money could be better spent on fixing your rent arrears issue and feeding your four kids.

                    What kind of work does your husband do? Some employment can be affected by having a CCJ or being bankrupt so do a bit of research first.

                    I'm not a big fan of IVAs because so much of what you pay goes towards the IVA provider's fees. If you don't complete the IVA (so many fail) then I believe the interest may be added retrospectively.

                    Dont let these debts get you down - it's only money. Your health is far more important. Get well soon

                    Di
                    • 2 likes

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                    • #11
                      Re: Debt making me unwell

                      CCA Request
                      • 2 likes

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