How to Get Out of Debt Forum

I was a sole trader now I am in bad health and cannot service my debths

Page: 1

Reply to Post Forum debt articles

Add a New Topic

User

Post

7:03 am
March 8, 2010

Jon Emge

Moderator

posts 1018

Quote and Reply

Jack,

Sorry to hear of your health issues, however you do have a few options.

Contact the creditors in question and explain your situation to them.

Since the vehicle loans are secured, you maybe able to turn the vehicles back to the financing company and be done with it.

If for any reason there is a shortfall or unsecured balance left owing, you can then arrange a repayment plan based on what you can afford each month.

You can do this also with the credit card debt, however as it is not secured, you would simply pay what you can afford each month.

There are a few companies in ROI that can assist you with this, and you can also visit http://www.mabs.ie for a local office to help you.

I hope this helps.

Jon

7:32 am
March 7, 2010

jack

New Member

posts 1

Quote and Reply

I was a sole trader in the construction industry. I now have bad health stenosis in lower back and disc protrusions in my neck. My doc says that I should'nt lift anything heavy, therefore I cannot carry out my work if I could get any in this climate. My problem Is I have two vehicle loans and a credit card debth. I am now on an invalidity pension of 207.00 Euro a week. My debths are 720.00 euro a month. what can I do to resolve

Page: 1

Reply to Post