[Angelfire77]

hi, just wondering if anyone else is experiencing the same problems as me. Until 2 years ago i had a good business with an income. Then it all went wrong with the recession and the business failed leaving me with massive debts. I am now at the situation where I simply can not afford to pay all my creditors and receive threatening letters and phone calls daily. I work 3 jobs, 16 hour days 6 days a week. I only eat a proper meal 2 or 3 times a week and live in a small studio flat with no TV and no heating as I can not afford it. I have sold everything i own for the benefit of creditors. I have no family to help, am losing weight rapidly as I cant afford to eat and feeling more unwell every day. Feel completely trapped, desperate and very concerned that I will never be able to escape this cycle. Losing contact with the few friends I have since i cant afford to visit them or go out with them.

I have investigated options like an IVA but been told I owe too much and as its business debt it does not qualify. Creditors refuse to accept any debt management plans. What can I do?

[likearollingstone]

Hi: sorry to hear about you sitiation, I can empathise since in a similar situation. I take it creditors have sold the debt to collection agencies? If so you need to stand your ground since they do not have as much power as they suggest. Write to them giving your financial situation and saying you are no longer accepting calls on a private telephone line and you will treat it as harrasment if they do so. Getting those calls stop is psychologically good ie less stress. I contacted the CCCS who are very helpful (they suggested I go for bankrupcy since have no assets). Like you up until a few years back I was a professional earning lots of money but spending even more, until the economy fell over - not our fault just unlucky! Despite the pain of debt I learned to appreciate the simple things in life and revise my perception on how we are conditioned to behave.
With reference to 'losing contact' with friends invite them over, if they are real friende they come.
Trust this at least illustrates you are not the only one!!

[Benjamin Fry]

I strongly recommend the CCCS. It seems like bankruptcy would immediately remove your debts and improve your income, but you should take their advice in detail as soon as possible.