Latest Posts
Home > Ask The Get Out of Debt Experts > I’ve Been Stupid With My Debt. I’m Unemployed and Living in the UK. – Sarah

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?

Sarah”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

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
Get Out of Debt Guy – Twitter, G+, Facebook

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

Share This and Spread the Word

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.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.