Author Topic: Desperate situation..  (Read 1476 times)

sunset

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Desperate situation..
« on: Oct 20, 2009, 06:41:40 PM »
Hello,

I got a loan to pay for some of my debts ( counting on money that my sister would give me and she was make redundant), so now I can't afford to make the  payments. I'm worried 'cos to get the loan I had to hugely 'magnify' my income and if I contact the bank  to say I won't be able to repay the loan it would look like fraud (they will find out my income is less than £600 a month and I have no assets) and they won't probably accept a debt mangement plan. Any advice?

Another question:
I heard that Citi credit cards don't accept debt management plans. Does anyone know if that is true?

I have huge debts and can't go bankrupt as my landlord will kick me out and I'll be homeless. Also he will find out I'm getting housing benefit, and 'not to get benefits' was a condition for rent my place, anyway.

Any advice welcome. Thank you!


Debtwitch

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Re: Desperate situation..
« Reply #1 on: Oct 22, 2009, 06:33:47 AM »
Can you list all your debts Sunset so that we have an idea of what solutions might be available?

Your landlord would probably prefer to take tenants that are working but is likely to accept money from Housing Benefit if it means an income to him, but I'm not quite clear - have you lost your job?  Bankruptcy doesn't necessarily mean that you will lose your job.
Angela Rosler
Insolvency Manager  e: [email protected]