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had a phone call from a debt collecting agency asking for £1000 i dont have cant get

whats next do i go to prison will they take a negitive equity house why cant we come to some other agreement

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Re: had a phone call from a debt collecting agency

I really think you need to get professional debt help. Both a Debt Management Plan and an IVA offer you protection from creditors if agreed. Once you open up a dialogue with a debt help organisation you'll be able to tell the debt collection agency that you're talking to 'organisation name' at the moment with a view to coming up with a plan to pay all of your creditors and you hope to be in touch very shortly. In the meantime if they would be patient and stop causing unnecessary stress it would be appreciated.'


The last thing your creditors want is for you to go bankrupt, as if you do they get nothing. So they are likely to want to work with you to get through this.


Also, ask the debt organisation you contact for the best course of action as they may be able to be more specific once they understand your specific situation more.

The best of luck.


Re: had a phone call from a debt collecting agency asking ...

You cannot go to prison for normal credit/debt. Unless it is council tax or another preferential debt there is not a chance. Any debt collector who threatens you with prison is committing an offence under the Administration of Justice Act. If you ignore a debt, the creditor can take you to county court. This does not mean prison but it can be expensive and will have a serious effect on your ability to get credit in the future. We should all pay our debts, assuming you do owe the money, but at a rate you can afford. If you do owe the money then you need to make an offer to the creditor based on your income and expenditure. And then you need to make those payments. If you don't owe the money e.g. someone has committed fraud on you, then you should get advice from a solicitor or the CAB.

Re: had a phone call from a debt collecting agency asking ...

Further to the above answers you can get free advice, an information pack and help with making offers to creditors from me. Email me at the Debt Advice Foundation

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