Paul wrote to me through the GetOutOfDebt.org site and asked the following question. 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.
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“Dear Steve,
I’m on jobseekers allowance at present been unemployed for 6 months
I am in debt on 4 credit cards total amount eighteen thousand pounds sent in budget plans with offer of payment but still find it difficult to keep up the payments and the debt companies never let go no matter what you tell them they still keep hounding you for more money any solutions on anything more i can do thanks.
Paul”
The Answer:
Dear Paul,
I deduced that your are in the UK. The situation you face is not uncommon but can only be remedied by making a change in your current path.
New legislation in the UK allows people to go bankrupt for less than £100 but unfortunately the cap on the Debt Relief Orders is £15,000 of debt.
The only real solution would be for you to file a petition for bankruptcy. The process is fairly straightforward but where people often go wrong is in the calculation of their disposable income. They tend to over-promise the Official Receiver more than they need to.
I would suggest that you get professional advice and assistance with your bankruptcy petition. You can get help here and get your bankruptcy petition completed for you.
Once you file your bankruptcy petition with the local court the pressure from the creditors will cease. Then you can focus all of your energies on finding new employment instead of being stressed by your creditors and in fear of what they might or will do.
