not exactly sure how much I owe

[zia]

i'm not exactly sure how muuch or how many companies I owe money to. I stopped paying them over 2 years ago following disputes with my ex partner. I have over 20K and one of the company has just sent me a statutory demand for bankruptcy so not sure if I can apply for IVA? but i also now want to come to an arrangement with them all. should I also order a credit report

[plasticdaft]

What you must do is seek independant advice to find out what you actually owe,and what the best way forward is. It is hard to offer best advice without knowing the full extent of your debt.
As for the statutory BR order,thats one for the experts,one will pop along shortly to give you an answer.

[kallis3]

Hi Zia and welcome to the forum.

If you have not paid anything to any of your creditors for two years, do you not receive letters and phone calls from them? If so, that should tell you who your creditors are. Do you have any CCJ's against your name?

A statutory demand gives you 21 days to pay your debt otherwise the creditor can petition for your bankruptcy.

Why not try phoning them to see if you can come to some arrangement in the short term?

You can find out more information on the demand from
http://www.insolvencyhelpline.co.uk/leg ... demand.php

[Adam Davies]

Hi
A credit report will give you a good idea of how much you owe and at what stage each creditor is.
You also need to contact an IP for advice on this demand
Regards

[MelanieGiles]

If left unresolved, a statutory demand is likely to result in a bankruptcy order being made against you. Do seek professional advice from an insolvency practitioner, who will also be able to help you find details of your outstanding accounts as well.

[zia]

thanks for your feed back. I no longer live at the addrees where all my debts are registered and ignore all letters, not opened. I now want to start paying my loan, credit card and store cards but not sure where to start. I only just received this stat demand from cap quest who has taken on overdraft debt from natwest. i'm not sure if i have received any for my loan at my old address so all i know, i may already be made bankrupt but not aware of it. I am actually now in a position where i can start to pay all my creditors but must start with cap quest. try and arrange a repayment plan and maybe ask them to reduce some of the debt which is made up of charges. i'm not sure how to go about with the others. i could do with speaking to an independant financial advisor who is not after money but not sure who i'm looking for?

[flashingblade]

http://www.insolvency.gov.uk/eiir/

Go to that page, u can search for ur name on the insolvency register and you will know if you have been made BR already

[zia]

ta very much. I dont appear to be on this. i need to contact the others at some point but I think i'll have a chat with somebody who could advise me. thanks

[kallis3]

Can you afford to make payments on your debts? If so, you need to contact your creditors and tell them you can make the payments.

If you are thinking of going down the IVA route you need to speak to an Insolvency Practitioner. There are a few who post on here, so it would be good to check them out.

[zia]

i dont think i need the IVA route. I can now afford to pay these companies but not sure if they will accept what I can afford. £15k loan, £5k loan, £2k ccard and £3k overdraft is what u have. (there maybe others that my ex took out in my name that i am now aware of) I need to get my credit report which i'm sure will list all the debt then I can contact each creditor but I guess I have to agree a plan with this cap quest first given the demand notice. I'm also not sure if some of them will reduce some of the debt that is made up of charges?

[kallis3]

I think you need to contact these companies and tell them that you can afford to pay them now.

You can get your credit report from Experian, Equifax and another one, the name of which escapes me (wouldn't mind, but I've read it on here today!). They will tell you what you owe and to whom.

[Viki.W]

Call credit

[kallis3]

Thanks Viki - don't know what I would do without you.![:)]