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Is it really worth paying back my debt? |
Submitted on: 10th Aug 2010 by Non-Member | Total Answers: 1
I am currently in about £10,000 of debt and am working as a temp for an agency since losing my permanent job. The debt is starting to get on top of me and I am paying around £350 of debt each month and also have rent and other bills to pay. I just cant see how I am ever going to get anywhere with it and the stress of not having any money to allow myself to live is starting to take its toll. I have spoken to a couple of friends who have just 'forgotten' about their debts and avoided them by moving house and saying that they are not the people who the bailiffs are looking for. I am considering this, I have no assets for them to take and I am only 23 and cant see myself wanting credit in the near future. If I avoid bailffs and debtors for 6 years do they really go away? Are CCJs totally wiped from your credit rating after the 6 year period? If I do ignore my debts does this mean I will never be able to own a property? I really need some advice i just feel like giving up!!
Re: Is it really worth paying back my debt?
The best thing to do is to contact a debt counseling service or your local Citizens Advice Bureau to seek help with your debts. An adviser will assist you in creating a budget that prioritizes your essential living costs and they will then be able to advise you on the most suitable route forward to becoming debt free. Ignoring the debts that you have is likely to lead to further stress as the creditors will continue to hassle you and can take further action through the courts. By accessing advice on your situation the creditors will be contacted by the advice agency on your behalf and repayment arrangements can be made. You will be supported through the process and will be able to get debt free and put this situation behind you.
This question has been answered by Christians Against Poverty, a leading debt charity offering hope and a solution to anyone in debt.
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