no true idea of debt, just buried my head for ten years

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Post by » Sun Sep 05, 2010 5:56 pm
I have no true idea of my debt.
i have just buried my head for 10 years.
i want a fresh start.
where do i begin.

Adam Davies

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Post by Adam Davies » Sun Sep 05, 2010 6:08 pm
Hi and welcome
Probably best to start with a copy of your credit file. I suggest checking all three, Experian, Equifax and Call Credit. It should cost two pounds per organisation and can be done online.
Then speak with several companies/experts and discuss all options open to you
Andam Davies


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Post by nepensioner » Sun Sep 05, 2010 6:09 pm
Hi Russell

Welome to the forum.
Could you start by listing as many of your debts as you can, I found using by bank statment showing Direct Debits a good starting point. When you have done this, write down your income and then contact 2/3 IP's for advice. They are very professional and non judgemental, and at no time will be critical in any way. You have done the hardest thing now by admitting you have a problem. Take courage and do let us know how you get on or have any questions. You will have realised from this forum that we have all been there, and support each other. Good luck
F & F Accepted 19th Oct 2010


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Post by Shining » Sun Sep 05, 2010 6:18 pm
Hi and welcome to the forum. I would as Andy suggested contact the Credit reference agencies initially and try and build up a picture of what is owed to whom and then contact 2 or 3 professionals to gain some impartial case specific advice. is a good starting point and there you will find a list of companies and some reviews of these.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.


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Post by kallis3 » Sun Sep 05, 2010 6:18 pm
Welcome from me as well.

Visit for a list of companies and reviews. Give one or two a ring and you will receive free and impartial advice as to all the options open to you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.


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Post by plasticdaft » Sun Sep 05, 2010 6:40 pm
Have you been getting chased for the debt for 10 years? Long long time to dodge the creditors and now is as good a time as any to sort yourself out.

As others have said,best bet is to check your files to see what you owe and then talk to an insolvency company or 2. Do you have any property with equity in it,and are you earning a wage?

Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.

Broke of London

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Post by Broke of London » Sun Sep 05, 2010 8:19 pm
Hi and welcome from another newbie,

Open the bills, tally up and give someone a call. Speaking to a debt advisor is really cathartic and I instantly felt better having someone on my side.

My only advice is not to waste any more time...I regret spending three years procrastinating and waiting for a miracle!



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Post by MelanieGiles » Sun Sep 05, 2010 8:23 pm
Work out how much you owe in total and how much you can afford to pay back having allowed for usual household and general expenditure. If this sum is lower than the total of the monthly payments you are required to make to creditors, then you need to take advice from an insolvency practitioner who can help find a solution for you, to meet your current and future needs.
Regards, Melanie Giles, Insolvency Practitioner


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Post by karen » Mon Sep 06, 2010 9:32 am
You have already taken the first steps.There are lots of people on here who will give you advice and help on how to go about sorting your problems out so stick around you are not alone. Dont panic take a deep breath and make a call it will be the best thing you have ever done. Hope everything goes ok for you.
Karen [:)]

Declan at DebtFreeDirect

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Post by Declan at DebtFreeDirect » Mon Sep 06, 2010 10:42 am
Fully agree with what the guys have said. It can be a very scary ordeal, but sitting down and going through all the various debts is the first and often the most difficult when looking to resolve your debts. Once this is done, speak to a few different companies before deciding on what path to take.

Declan Murray
Debt Advisor
Debt Free Direct - the UK's largest IVA provider.


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Post by nomoremoney » Mon Sep 06, 2010 11:49 am
The thing about debt is that there is no statutory limitations and that it can be persued by creditors for a lifetime.

I have a 'friend'training to be a solicitor that have a BT phone;TV licence and other bills unpaid and he doesn't seem to mine the reminders dropping at the door....he tells me unless they [companies]take legal action they can't do anything....recently some of the firm went to a judge for a court order. He paid up...

-Creditors never give up- if they did...??
Last edited by nomoremoney on Mon Sep 06, 2010 11:52 am, edited 1 time in total.

Adam Davies

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Post by Adam Davies » Mon Sep 06, 2010 12:34 pm
There is the statute of limitations and this is six years, if a creditor has not chased a debt for this time and has not made contact with you then the debt is barred. If the creditor has obtained a court order then the statute of limitations does not apply
Andam Davies
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