Just to update my situation now. I have managed to get a 12 month mortgage holiday. That's gonna help tremendously in the short term. The thing is now that I don't have to pay my mortgage for 12 months what do I do? I plan to save as much of it as I can, sell my car and anything else I can do withou...

Thanks Kallis. I will hopefully hear from CAB next week, the lady dealing with my case is back at work on monday. I will use that bankruptsy idea, thanks.

I've started getting the nasty letters it seems. Nationwide and HSBC have rejected my £5 Token payment offers. Nationwide were ok about it when I called them today and will wait to hear from Citizens Advice. I also rang HSBC, they were not so nice. They want £30 a month and will put my account on th...

Thanks for that. I need to get another job really. But that is going to be difficult in the current climate. As long as I can hang on to my flat I will be happy enough.

I phoned up my creditors today, I wasn't looking forward to it. It had to be done though so that they all know my situation and its now on record that I've contacted them. It wasn't half as bad as I thought it would be. I suspect they are getting a lot of calls like mine at the moment. Everyone was ...

Thanks for the kind thoughts I've received, you can feel on your own in this situation. thanks to this forum I know I'm not on my own, its good to talk as they say. Hopefully my story will help others out...I wrote to all of my creditors after xmas. only a few have contacted me, and the ones who hav...

if i was to apply for BR and had negative equity, would i still keep my flat?

Hi Melanie, thanks for your interest. I was given good advice by your people. Maybe I am in too much trouble to be on this forum, I can't afford an IVA or a DMP. I'm waking up at 4-5am every day thinking about this. If my creditors won't accept my token payment offers what happens next?

Thanks fergiedoggy. All i can do now is see what happens next. Is a CCJ that bad a thing, it seems the creditors and myself would have to abide by the judgment. It would stop them hassling me wouldn't it?

Hi David. I contacted Phillip Gill & Co in the hope that I could get an IVA to solve my problems. It turned out that I cannot afford an IVA so they passed me on to Bright Oak to see if I could go onto a DMP for a while. Then hopefully, if my situation improved, I could try for an IVA in 6 months tim...

I sent the lady i spoke to my outgoings/incomings and a list of my creditors. After looking at that she told I couldn't afford an IVA and passed me over to a colleague who would discuss a DMP, and maybe go back to her in 6 months time for an IVA if my situation improved. But when they called me back...

I will try and get a valuation of my place done. So when you say a friend or relative, does that mean I sign it over to them?

Thanks for the replies, they are much appreciated believe me.I thought I would lose my flat If I went Bankrupt? My flat was valued at 90k 3 years ago. I have a 65k mortgage on a five year fixed rate that has 18 months left. If house prices have fallen 20% I suppose there will be about 7k in equity l...

I contacted Phillip Gill & Co. I think the advice they gave was honest. They were not trying to sell me an IVA or a DMP. I have heard stories about some IVA companies that try to sell you something inappropriate. When the lady said I would not be able to go onto a DMP my heart sank, I thought what d...

I've got debts of 32k, credit cards and loans. I was made redundant 18 months ago after being at the same place for 25years. I got a job 3 months after I was made redundant on 25k a year doing similar work, but it involved working a rotating night shift. I was happy doing the work but simply couldn'...