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WantToBreakFreeofDebt
Starting Member
1 Posts |
 Posted - 12 July 2010 : 14:11:02
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Hi, I've got 3 credit cards and 2 loans (both unsecured), really struggling, the preverbial robbing Peter to pay Paul, or begging and borrowing from friends and family! I haven't as yet missed any payments on my debts, pay the minimum on credit cards etc, which barely covers the interest. Will be like that till I'm into old age! My total is debt is just over £20,000
I have been asvised to go bankrupt, I live in rented property, don't own a car and have no assets.
Last week because I was in a terrible mess my mum paid off one of my credit card, just on £3,000.
My main question is............would the Judge or OR look 'unfavourabley' on me because I've paid off one credit card and haven't missed no payments on my other debts, even though it has been a massive struggle.
Thanks |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 12 July 2010 : 16:59:23
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Hi WTBFoD
welcome to the forum,
as your mum has paid off the debt should not be a problem, if you have paid it it could be seen as preferential treatment
have a look at debt relief orders you say your total is just over 20K, if you take off the 3K mum has just paid you may be clsoe to qualifying.
if mum is prepared to do so and in a position to do so, you may be able to obtain a negotiated settlement on all of the debts.
if you are still working you may be able to ask paul at reviva if you qualify for a reviva plan, ill let you call him and then he can clarify
once you have decided to go BR do not accept any more money from mum to pay creditors.
do not rush into any desisive action until you have had a chance to examine all options
regards Richard |
Edited by - Richard P on 12 July 2010 17:13:39 |
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