Debt Problem

[danntho]

Hi i have an important financial issue that i cant get my head round.

Over the last 5 years i have accumulated debts from things such as credit cards, overdrafts etc. I was at one point making regualr payments through a debt management compnay.

The i have had some family issues such as the death of my dad aged 42 last year and other personal issues. I stop making payments to creditors as at the time it was the last thing on my mind. When my dad died last year i turned to drink and gamling to block out my dad death and all the debts. I have now stopped this but when looking at all the debts i have had can make a suitable arrangemtn with any of the creditors so have now been ignoring them, as nearly made me suicidal at one point.

To make matters worse i took on a pub business back in September 2010, where i signed the lease in my personal name, the business hasnt taken off and has got me into even more debt. I hae ceased trading the pub as not viable to keep it open but now i am just waiting for someone to sign over the lease. So now i do not have any income whatsoever, i really need some advice on how to get out this mess and get my life back on track.

Thankyou

[Caspar]

Re: Debt Problem

I think you would honestly benefit from a trip to CAB. We can make suggestions for you, help you back into a free DMP by pointing you towards CCCS or Payplan, but they will assess the overall picture and help from there re benefit entitlement etc.... That's what I'd do.

[The Debt Star]

Re: Debt Problem

Something like the CCCS will get you through the immediate pressure and crisis. I did this. In retrospect I would have arranged a DMP for myself without involving the CCCS and approached the creditors differently, with a view to preventing my credit files being shredded to pieces. However, you sound like a young chap and this will one day be in the dim and distant past for you.

[danntho]

Re: Debt Problem

Thanks to you both for your advice, appreciated