• 🇬🇧󠁿 🇸🇪 🇿🇦 🇮🇪 🇬🇭 🇩🇪 🇪🇺
    European & African
    Drug Discussion

    Welcome Guest!
    Posting Rules Bluelight Rules
  • EADD Moderators: Shambles

The Writing off of Debt

My brother cleared his debts with an IVA, which saved him from bankruptcy, basically. It took several years of handing over half his income though.
 
You can't wipe it out in one go but you can get away without paying lots off. We got a practically new car out of this a few years ago, gf used to work in student debt.

Fundamentally you need to write to them asking for a MORATORIUM which will lead to further correspondence determining how much you can pay off each week/month. Find out what the minimum is, and if you are on the dole this should be about £2 a week or something. Then stop paying after a short time.

However, you need to know what sorts of debts this will work for and which not. Utility bills are crap and you can go to prison for non-payment of these. CREDIT CARD debts come bottom of the list and can fuck right off.

Books in libraries, and no doubt google, are available.
 
Credit cards debts are easy, look up the word moratorium associated with CC debts online.

As for wonga, sorry for sounding sanctimonious, but you know you shouldn't have got involved in the first place with those shysters.
 
Have you seen Freeman on the land templates.?

My gut instinct tells me the logic behind the whole thing is flawed.

But...

I once got rid of a massive electricity bill this way, once it was passed on to debt collectors.
I wouldnt do it again, I'm not even sure if i'm doing you a favour by recommending it if you've not heard of it.

The idea of paying them off at a rate you can afford is far more sensible.

The only reason I ever did it was the 'leccy company wouldn't send me a bill or release the code so I could change supplier. I pretty much begged them for a bill every month. When I eventually got it 18 months of storage heaters meant it was ridiculous, I felt it was a matter of principle.

StoneHappyMonday said:
Utility bills are crap and you can go to prison for non-payment of these.
Click to expand...

Did not know this...are you sure this is true ?
I wouldn't have fucked them off if I had known this. Looks like I got lucky ! Been years now so if I was gunna get banged up I would've by now
 
Last edited:
StoneHappyMonday said:
You can't wipe it out in one go but you can get away without paying lots off. We got a practically new car out of this a few years ago, gf used to work in student debt.

Fundamentally you need to write to them asking for a MORATORIUM which will lead to further correspondence determining how much you can pay off each week/month. Find out what the minimum is, and if you are on the dole this should be about £2 a week or something. Then stop paying after a short time.

However, you need to know what sorts of debts this will work for and which not. Utility bills are crap and you can go to prison for non-payment of these. CREDIT CARD debts come bottom of the list and can fuck right off.

Books in libraries, and no doubt google, are available.
Click to expand...

You need to prioritise which debts are most important as some debts can be put off for longer than others.
Whatever you do try not to ignore any letters that are sent to you. It is so tempting to put them in a draw and try to forget about them, done it myself but that's worst thing to do.
As SHM has said write to them,don't ignore them. It does usually help to keep them off yr back a bit if you communicate with them and work out a payment plan that you are sure you can stick to. I guess it depends also on how much you owe & to how many different people.
My wife had not far off £30k of personal debt and somehow she managed to get an arrangement with her various debtors and she was only paying out about £50ish a month to pay off her debts.
 
You must log in or register to reply here.
Top