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I’ve Been Stupid With My Debt. I’m Unemployed and Living in the UK. – Sarah

“Dear Steve,

I have been stupid i have about 10 debts all together i owe o2, voda, 3, loyds tsb, NatWest, capital 1, and 3 pay day loans of the internet i just don’t want the debt collectors to come to my home, im very worried IM ONLY 20 AND IM IN 10,000 POUNDS WORTH OF DEPT

How do i solve my debt if im unemployed, is there some thing i can do to stop this?


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The Answer


Dear Sarah,

Ultimately this comes down to expectations. If there if there is no expectation you will be back earning money again in the near future then your only logical option in the UK is to petition for bankruptcy. Once you do you then you will not be required to pay anything more towards your debt and you will be fully released from the debt in about nine months.

If you would like with this process then I suggest you look at this page for help and call Jon at 0800 1116 885. He will be happy to advise you.

After you go bankruptcy you may find it difficult to open a new current account but Jon can help steer you to banks that can help with that.

You can also watch a number of videos online about bankruptcy in the UK.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Big Hug!

Ive Been Stupid With My Debt. Im Unemployed and Living in the UK.   Sarah
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P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

I've Been Stupid With My Debt. I'm Unemployed and Living in the UK. - Sarah by

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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