bank debts

[darren]

hi all,wen i became mentally ill in 1993 ,i became obessed in using all my cards on a casinos site called 888.com,i lost 52,000 pounds useing all my creditcards.i cannont pay the banks any money back.
i was under the mental healh act and still am ..
.can i gets these depts written off ?

 

[intelgal]

Try contacting citizans advice beuaru or Consumer credit counselling service. They should be able to help reduce or write them off

 

[FlakeyDove]

Hi Darren

I'd second that, go to your local CAB. I'm at work now but I've also got some details for other useful agencies somewhere.

You will need a 'financial statement' which details your incomings and outgoings so if you can it's worth pulling that together.

Generally they will help you contact all your creditors and usually negotiate repayment plans. In most cases they will stop or suspend interest and charges.

Beware of companies who offer to do this for you. They will take a fee for something that CAB can negotiate for nothing.

I recently discovered that my husband is nearly 40k in debt and have been negotiating with his creditors. It has been a painful process in some cases so please do get some help.

If you own property be aware that although credit card spending is supposedly unsecured the creditors can take a charge on the property - or make you sell - to clear the debts. Therefore, really, talk to them as soon as possible.

In our case I have (had!) some savings. We have been able to negotiate partial settlements in a couple of cases. One lender settled for 40% of the outstanding debt but that was only because I could pay now.

Please feel free to PM me if you don't want to get too public about this. I've spoken to a few agencies and the like recently.