What happens to debt

Question

I have debt of over £30,000 and have just swept it under the carpet.Mainly because im worried its been over 9years.Whats the best thing to do as i dont work.

Answer 1

Hurry get your stuff and run! Just leave the country, They'll never find you! Go to Canada  or something.

Answer 2

you could contact insolvency services, my friend did this and they were very helpful. Look up one in your local area they''ll do all work for you. Or you contact CAB

Hope this helps

Answer 3

cant get blood out a stone y worry ?

Answer 4

Get yourself declared bankrupt. A friend at work did. She said it wasn't difficult.

Answer 5

LOL@Cassandra B!  Seriously, if you are based in the UK theres a debtline you could contact, a family member did this and managed to get £80,000 worth of debt wiped out, I think she did an IVA which is almost like bankruptcy but you have to pay some of the debt back.  I think it was the National Debt Line.....Good luck!!

Answer 6

After a period of around 6 years, debt that has not been paid becomes barred. This means that any agency trying to collect the debt cannot legally enforce it unless they can provide true copies of the agreement, and validation that the debt is theirs. Try not to worry, and if contact, only respond through letters, remembering to copy all correspondence.