i cannot afford the repayments

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1


User avatar
Posts: 1
Joined: Tue May 11, 2010 3:43 pm

Post by amanda.ws » Tue May 11, 2010 3:43 pm
hi, i have a loan in my name i still owe over £6000 on it as the interest on the arrears are huge. my brother also got a loan in his name for me, he is currently unemployed which once again has over £3000 left because of the interest on arrears and i pay for that one also. the payments each month are just under £320.00 i cannot afford the repayments which means the amount owed is going up. what can i do? i have tried to tell the company but they do not care they expect the money no matter what. what are my options as i can not keep avoiding these people?

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm

Post by Michael Peoples » Tue May 11, 2010 4:25 pm
Given that your debts are less than £15,000 you may qualify for a debt relief order and your local CAB would be able to help. Your brother however is liable for the debt in his name and will have to make arrangements himself to repay the debt.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”