I was told that the CAB would advise me to go bankrupt, but that is not an option for me personally?

Question

I don't want to declare myself bankrupt, I need advise on the best solution to get me debt free!

Answer 1

You don't know what the CAB would advise until you actually go to see them! They are impartial and won't MAKE you do anything. Suggest you make an appointment and go and see them, give them all your circumstances and see what they say. Im sure there are other solutions.

Answer 2

Were you told that by the CAB? If not I suggest you go and see them first and find out what they will advice. In my experience, and I have worked in a CAB declaring people bankrupt is far from the first option they will give you, it's certainly not the only one. And remember you do not have to take the advice you are given. I can tell you one thing, you'll get more objective and useful advice from you CAB than from any of these companies that advertise "free" debt advice on the TV. I find it hard to believe the advice is free, somebody has to pay for those adverts for a start.

At least the CAB the advice really is completely free. It may just cost you a bit of time.

Good luck

Answer 3

Going bankrupt is the in thing personally and this is not at you but why do people get up in the eye balls in debt then declare themselves bankrupt you can go to the cab and they can reduce your payments to as little as a pound a month depending on the amount is owing.This is much better as in the future you can still get a mortgage and credit if you need to.Don't declare yourself bankrupt if you can arrange small payments to the people you owe to.Goodluck.xxx

Answer 4

The Consumer Credit Counselling service is a national charity set up for people in debt. Providing you meet their criteria, they will negotiate with your creditors to reduce your debts and may even get some written off. It's not a loan or bankruptcy and it's completely free.

Answer 5

hello.if your debts are so high.then that is why they will suggest you go bankrupt.if you dont own your own house or car,things like that then you have nothing to lose.you will certintely be debt free then.also you can still obtain credit and get a bank account.good luck.

Answer 6

I filed for financial disaster 2 years in the past after suffering for 4 years religiously giving lower back my lenders on the cases I pronounced i'd, giving them each and every very last penny I had. i develop into taking care of a husband who refused to artwork and three little ones. even as the physician recommended me of a lower back operation that i'd pick and may be out of action for 6 months, I knew no-one may pay the expenditures. I recommended my then husband to guard my organisation yet he ran it into the floor. Up till the day I filed, there develop into no black mark hostile to my call... I had no determination. once you assert you had a playing difficulty, i wish you've discovered a fashion to keep it in line. in case you report for financial disaster you truly have a black mark hostile for your call for existence, even although in Australia you'd be discharged after 3 years. My economic employer shrink off my debit card even as the financial disaster went via no matter if it develop into my personal funds i'd be utilising. i tried to get a actual resources licence and it develop into complicated yet i ultimately were given it because I had to 'instruct' i develop into an honourable bankrupt. that is going to likely be next to no longer a possibility to ever borrow funds to purchase a house and many roles isn't accessible to you because you're required to inform your corporation if you're bankrupt, noticeably in case you take care of human beings's funds. without borrowing skill, you may't flow on cellular contracts or employ employ issues... such countless doorways are closed for you.... yet I have managed. I virtually went homeless only after financial disaster and that i'm in common words only getting lower back on my feet after 2 years... and that i did not have a playing difficulty... so i develop into in a extra perfect (?) position. although: it would want to easily be the ingredient that treatments you. without waiting get admission to to funds, you've gotten no different determination than to commence budgeting. And in case you'll get your existence lower back on the right song... you may as nicely provide them lower back the money someplace down the song. sturdy luck!