- Tue Jun 09, 2015 5:43 pm
The best thing to do at this stage is get some free money advice A money adviser can to help you draw up an income and expenditure statement (called the Common Financial Statement). Then either you or the adviser can send this off to your creditors to show that you cannot afford to repay the debts at this time and ask them to hold any action on the debts while you consider your options.
You don't say if you have reached your credit card limits, but you should not use them any longer as it is an offence to borrow money when you know you cannot pay it back.
You could inform the creditors that you are expecting to petition for bankruptcy within the next few months, but that may mean that they escalate debt collection procedures against you.
Would you like to talk to someone CONFIDENTIALLY about your financial situation?
Would you like to talk to an organisations that is NOT going to charge you?
Would you like to talk to an organisation that CAN help you?
If you answered YES or MAYBE to any of these questions, then there are four organisations in the UK that can offer you free, completely confidential, personal and impartial advice on your money worries.
The Money Advice Service: Free & impartial money advice, set up by government that aims to signpost you to appropriate organisations that may be able to help you. You can contact them on 0300 500 5000
PayPlan: Is a national organisation with approaching 20 years of experience in dealing with all kinds of financial situations, no matter how bad they are.
Their advice and help starts with a simple phone call to 0800 280 2816 FREE
NDL: Is an organisation that advises you on solutions that are available to you, you can contact them on 0808 808 4000 FREE
StepChange (formerly CCCS) Is an organisation that advises you on available solutions with your financial problems. You can contact them on 0800 138 1111 FREE
Remember this forum is where you can still ask questions, where you talk to people who have been through financial problems themselves.