I owe £15,000 to the bank and just can't seem to pay it off any ideas?

Question

I'm out of work at the moment to but have insurance but I am signed on to agencies getting work every now and then.
For me to claim on the insurance I think my agency would have to stamp the form is that true?
Please help the little amount of hair I have is turning grey.
I bank with Nat West and live in UK. I've been told also not to use those people doing ads on tv saying they can clear your debts.

Answer 1

Personally I would go in and see your bank manager and see if you can come to some sort of payment plan, failing that contact citizens advice and explain the situation, they will give you all the answers you need.

Good luck, I hope you manage to sort it out.

Answer 2

You can always rob the bank, come back, and pay off the debt. Or you can be an ID thief.
Just don't file for bankrupcy, or go through a credit agency because that will ruin your credit. If you go through a credit agency, you're basically saying that you can't handle your debt (which you can't but you don't want creditors to know). After robbing that bank, the best thing you can do is get on a minimum payment plan, and start paying it down, adding interest whenever possible. You will have to live a very stingy life, so hope you did something amazing with the money that you owe. Anywhere you go, no matter what they tell you, this is the only way to pay down debt, and not ruin your credit or get in trouble. I work at the bank by the way.

Answer 3

Before you can tackle a debt problem you need to collect together information about your money affairs and follow some simple steps.


Make a complete list of your debts. Remember to divide them into separate headings - priority and non-priority debts . You will have to make offers to pay off your priority debts before you tackle your non-priority debts.
Work out your income and expenditure. Be honest and make sure that the amounts are realistic. Your resulting budget will show you if you have any money left over to divide up between your creditors. You may even be able to identify where you can make some savings. Do not ignore creditors' letters or phone calls. Contact your creditors as early as possible and explain to them why you are in debt. If you phone, you should follow up the call with a letter, confirming what you said on the phone. Send all the creditors a copy of your budget and the list of your debts. If you do not feel confident to deal with your creditors, contact a free advice agency.
If you have only a small amount of money available for your creditors after your essential spending, you may have to offer all of this to your priority creditors. You could have very little, or nothing, to offer to non-priority creditors and you should explain this to them.
Do not borrow more money to repay your debts. Think about the ways in which you might earn extra money or increase your income instead. If your income is low, you may be able to claim benefits.

Answer 4

If u r out of work at present then u need to inform the bank and give them yr budget summary. They will accept an amount that u can afford, after all small is better than none. They will probably do this for a limited period or until u get a new job. If u r unable to get work after this period u could talk to the Citizens Advice Bureau who can help u or put u in touch with someone who can.

Answer 5

1. My grandma told me there is a great place to go when you need money: to work! Get two jobs and work extra hours. Any job that pays is good.
2. Sell all non-necessities in your life. Have garage sales and use ebay. You went broke buying crap you didn't have money for, now it's time to give it back.
3. Develop a budget, and live on much less than you make. Stop eating out. Live on rice and beans. Use the extra money to pay off the debt.
4. Cut up and throw away those stupid credit cards. Pay cash for everything. If you can't afford to buy it with cash, you can't afford it.

This may sound harsh, but it is what I did for two years and paid off $40,000 in debt. Imagine what your life would be like with no payments! I have since saved up over $80k for retirement, and life is good!

Answer 6

you could try all the ones that advertise, an enquiry only costs you a phone call, just dont sign up to anything without thinking it through. A debt management company might be the answer, but remember if you can make the minimum payment they cant do anything about it. Even if it doesn't reduce the debt in the meantime it does keep them from your door.......

Answer 7

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Answer 8

go to the citizens advice bureau they will be able to advice you as they have people trained in debt management

Answer 9

yeh run off to another country

Answer 10

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