Debt- my friend is in debt and is close to suicide what is best advice on what to do?

Question

My friend is in debt up to his eyeballs and cannot afford what the outgoings are as he has small child and fiance to care for- he is private renting- stupidly wont accept benefits as he says it "too much hassle" and don't understand the forms, he gets no support from the government whatsoever even tho- I'm sure he is entitled to something? Working tax family credits? Council Tax benefit? I don't know what to suggest- should he go down and sit at Council and get Council flat (if possible) or CAB adviser- would they help him? I am really worried about him, he is like family and he has been suicidal in the past. Please help me give him some advice. He also (to add to his debt woes) received a letter yesterday for being in arrears with Council Tax and bailiff's are being sent?? He cannot get another loan to cover these debts as he has bad credit and i seriously dont know what to tell him before he does something silly.....please is there abnyone out there that can advise what to do- he dont want to pretend Lisa a lone parent even tho i feel that would be the best option. In this day and age it seems lying is only way to survive!!!!!!!!!!! HELP

Answer 1

You can seek advise from a credit counselor.  What they will do is negotiate with your friends' creditors on how much can he afford to pay.  They maybe able to free up some interest charges.  Or another option is to file bankruptcy.  Get him to talk to a bankruptcy lawyer.  To encourage him, tell him that his present situation is just a temporary problem that would not be solved with a permanent solution of hurting himself.  He would bring a lifetime of grief to his family and friends.

To get more information on debt related issues, this site would be a great help:  http://www.happygodebtfree.com

Answer 2

CAB is his best idea - and soon!

They can help him with benefit forms and other matters.

He won't get a council flat - they are very scarce nowadays - if he becomes homeless (unless it is through his own actions) he will get a place in a bed and breakfast.

He also needs to visit his doctor - it sounds like he is depressed and needs help for this.

Burying his head in the sand is not really an option - all it will do is make matter worse.  If Baliffs are being sent then he not just in arrears for Council tax he has also been taken to court over it!

He is in a mess and needs to get sorted.

Answer 3

If there are no other options, he can file for bankruptcy. That is probably the only option if he is way too much in debt, and will not accept benefits. If you are able to give more detailed information, don't hesitate to contact us at [e-mail], and we will help you out from there.

Answer 4

As far as the debt side of things, The best option for debt trouble is negotiating your debts with your credit companies to keep the payments from swallowing all of your income. Typically, you have to get a counseling agency to call on your behalf. If you try to work with them yourself, many of them will not cooperate with you because you are not enrolled in credit counseling. Try http://www.womenindebt.info.

As far as the emotional turmoil, make SURE that you can get a hold of someone to talk to your friend. Start with his close friends that he look sup to. He needs to not be alone during this time. If he relieves the financial pressure, he will likely start to feel a lot better. He's just in over his head right now.