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My son is typing this out on my behalf, I'm not very good with the internet. 
I'm 87 and have two (relatively) young children from a second marriage, they are both in there mid twenties, I had them very late in life. Their mother passed away from cancer when the youngest was 12 leaving only me to look after them. I very quickly got my self in to a lot of debt around £55,000 worth using credit cards and by taking out several bank loans.
Long story short, I had gotten my self in deep water and started the cycle of using credit cards to pay off the other credit cards minimums; I knew this couldn't continue for much longer.
I got in touch with a debt management company who facilitated a repayment plan of £1020 per month, I was able to make this payment for a while as I was still working. I have a skill set which is highly sought after and so I am still able to work even in old age.
I really wanted to retire but simply couldn't due to still having a mortgage (£160,000) and all of these debts to pay for. The payment plan continued for a while but obviously at my age I had no choice but to slow down, £1020 per month was no longer possible. I contacted the DMP company again and managed to renegotiate my monthly payments down to £350 per month.
Six years later, where am I now?
I'm 87 now and working is clearly no longer an option for me, my mind is sound but my body is failing me.
£35,174 of the £55,000 debt has been repaid leaving a remaining debt of £19,826.
My income has recently dropped significantly, I have a small private pension of £205 P/M and a state pension of £529 P/M, I can only afford 2 more months of repayments, there is just no way I can continue to make payments towards this debt. It will be a ticking time bomb as to when my creditor's start noticing that I am no longer making payments and I really don't know what to do. I feel like this is the calm before the storm.
Do you think UE may be an option for me?
My creditors are:
Idem Capital Securities Ltd
Wescot Credit Services
Barclaycard
Barclays Bank Plc
Central Debt Collection Services
Capital One
Royal Bank of Scotland
We have obtained some of the account open dates of the credit cards and loans and from what we can see on the credit report 4 of them have account open dates of 1998, 2001, 2001 and 2006. We are unsure about the rest of the accounts as they are not showing up on the credit report for some reason, there are 10 in total.
Any advice would be really helpful, we could really use it.
Thank you for taking the time to read this post.
I'm 87 and have two (relatively) young children from a second marriage, they are both in there mid twenties, I had them very late in life. Their mother passed away from cancer when the youngest was 12 leaving only me to look after them. I very quickly got my self in to a lot of debt around £55,000 worth using credit cards and by taking out several bank loans.
Long story short, I had gotten my self in deep water and started the cycle of using credit cards to pay off the other credit cards minimums; I knew this couldn't continue for much longer.
I got in touch with a debt management company who facilitated a repayment plan of £1020 per month, I was able to make this payment for a while as I was still working. I have a skill set which is highly sought after and so I am still able to work even in old age.
I really wanted to retire but simply couldn't due to still having a mortgage (£160,000) and all of these debts to pay for. The payment plan continued for a while but obviously at my age I had no choice but to slow down, £1020 per month was no longer possible. I contacted the DMP company again and managed to renegotiate my monthly payments down to £350 per month.
Six years later, where am I now?
I'm 87 now and working is clearly no longer an option for me, my mind is sound but my body is failing me.
£35,174 of the £55,000 debt has been repaid leaving a remaining debt of £19,826.
My income has recently dropped significantly, I have a small private pension of £205 P/M and a state pension of £529 P/M, I can only afford 2 more months of repayments, there is just no way I can continue to make payments towards this debt. It will be a ticking time bomb as to when my creditor's start noticing that I am no longer making payments and I really don't know what to do. I feel like this is the calm before the storm.
Do you think UE may be an option for me?
My creditors are:
Idem Capital Securities Ltd
Wescot Credit Services
Barclaycard
Barclays Bank Plc
Central Debt Collection Services
Capital One
Royal Bank of Scotland
We have obtained some of the account open dates of the credit cards and loans and from what we can see on the credit report 4 of them have account open dates of 1998, 2001, 2001 and 2006. We are unsure about the rest of the accounts as they are not showing up on the credit report for some reason, there are 10 in total.
Any advice would be really helpful, we could really use it.
Thank you for taking the time to read this post.
to AAD where we do things differently and we're never judgmental. I have 23 debts of my own so I know how it feels.
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