cissie s
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If you are in the UK -
Depending on what type of creditor it was and if you took out the "insurance" on the debt... Often debtors over insurance to help if this happens.
I dont think they would write it off however they may be able to work with you and lower your payments
Yes i would think they can make you bankrupt and even seize your property. Better if you dont have the insurance to file for bankruptcy yourself
I would suggest getting in contact with CCCS a link below the service is free and they should be able to advise you on this situation.
If you call them after you read about it make sure you have a list of all your creditors and the balance owed including interest and bank statements and other assets it will help them to determine faster what help they can be to you.
Also have proof of your disability or incapacitation
I have put links to 2 websites below
If you are in the US -
I suggest that you either file bankruptcy yourself or contact a bankruptcy lawyer or service to help you
No matter where you are at you will need to have all your financial information looked over and you will need to have proof of disability or incapaciation |
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GUS
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Creditors don't care about your situation. All they care about is getting one more payment out of you. They will certainly write off your debt - but only after you quit paying. They are required to write off your debt after a set time. Depending on the creditor they may file liens against you and/or your property but it would be unlikely for them to force you into bankruptcy. Good Luck |
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shell
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It depends on the amounts you owe and the assets you own.
They won't petition for your bankruptcy unless you have a property or other assets and the amount they are likely to receive is worth their while.
They will sell your debts to a debt collection company.
If you have no assets and your debts are considerable you should consider declaring yourself bankrupt. Don't bother with the CCCS.
http://en.wikipedia.org/w/index.php?title=Consumer_Credit_Counselling_Service&diff=130102760&oldid=130100266
They are wolves in sheeps clothing.
Speak to your local CAB and go to to your local county court and talk to the staff. |
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Caz300
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I have worked in this field for a number of years and I can assure you that regardless of disability these companies will still come after you for this money.
Recently we visited a person who was involved in a major road traffic accident and was unable to walk or talk, we were advised by the creditor to find out who was legally responsible for taking care of that persons affairs and get a payment arrangement from them.
So as you can see there is no easy way out if you are disabled, like the rest of the world finance companies are not permitted to discriminate against those who are less abled bodied than others.
My best advise is to contact the company, you never know you might get lucky and they may actually be helpful, Ask if you can have your payments reduced for a period to see if that may help.
Failing that the only other thing that you can do is contact your local Citizens Advise Bureau and they can arrange for a voluntary insolvency/bankruptcy. This is not a situation to be taken lightly as you have to show to your creditors that you are in financial trouble and even then they can start legal proceedings.
Good luck |
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tennessee
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nope |
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aBIGgurl2ENVY
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in a nutshell no.. collection agencies only care about one thing and that money and they very well have that right. if you borrow money than you are obligated to pay it back. even if it means making small payments on the accounts. even if you are making small payments on an account it gives you negotiating power with collection agencies.. |
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justme
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Depends on the company.
And there are some real "big bad wolves" out there.
It makes a difference on what the debit is for also.
Have you checked to see if any of your payments carried insurance. Meaning, you might be covered for this and payments would be made from the insurance.
Depending on the disability, there are government funds for help and also private organizations that might be of service. |
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katobow
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No, a creditor is not supposed to stear you toward bankruptcy. They want your money and that would only hold it up. |
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Rena007
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being a collections officer. It you tell the bank you can pay. They are going to send you to a collection agency. They will not write the debt off. you can file for bk or consumer proposal but your best bet would be to make arrangments with the collections agency when it gets sent to them. they are require by law to take your payment even if it is only 5 dollars. |
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brian t
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The citizens advice bureau will be able to look at the details of your case and give a far more authoritative answer than you are likely to get on here.
They can write to the creditors on your behalf and offer a solution that does not involve bankruptcy. Get around to them as soon as possible. They do not charge fees. |
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Ellie
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If you go this place http://www.cccs.co.uk/- they will do it for it you i think. Also the CAB used to do the same for you. Your credit rating will not be the same anyway if you have debts written off because you cannot pay- it reduces your scoring because it is still an unpaid debt.
Libs |
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