Yes I have been looking at the forums and get the gist, but its is still quite and overwhelming amount of information to take in. Barclays letters attached, with date and back. The only other thing that came with this was a generic FCA letter outlining why I have been sent a default notice. They just seem to be defaulting me on the interest and payments missed since I stopped paying, not the full credit balance. 2023-05-18 BC DN.pdf

just to update all I have had since posting is lots of letters and phonencalls (ignored) asking me to pay from my different creditors. Barclays sent me a default notice a few weeks back, but this is just for the payments and interest missed. I have attached a copy of the letter. Marbles have written to inform me that they have closed my account. Just wondering if creditors are perhaps hesitant to issue default notices because it will mean the debt disappears after 6 years ? Barclays.pdf

Thank you. If I am understanding this correctly - If I allow the debts to go to default, I will then offer a payment plan that will be split proportionally amongst my debtors and on the 6th birthday of the debts anything still outstanding will be written off ? I don't think realistically be able to pay the debts off within a reasonable time frame, like you say the sooner it goes to default the better, so there is little point me requesting 60 days of breathing space. I will try to get further advice and will check out the rest of this forum, but do I need a debt charity to work out the pro rata payments, or can I work out myself what disposable income I have and draft an offer myself?

MBNA - opened July 2003, unsecured CC debt approx £21,000 Barclays, opened 2008, unsecured CC debt, approx £7,000 Cap 1, opened 2008, unsecure cc debt, approx £6,000 Marbles opened Nov 2021, unsecured CC debt, approx £4,000 Upto December 22 - Feb 2023, I have not missed 1 payment on any of these accounts, but for the last 10 years I have pretty much maintained the debts by making minimum payments. Its only when MBNA decided to upped their interest late last year to £350 per month, I spoke to them and said I cannot afford to pay etc... and I am now considering my options. I am starting to think I am better off with bankruptcy, its just I am self employed and I need a decent bank account to operate my business, I just don't think I can face 5 years living on a basic income to pay off the debts in an IVA that was offered as a solution.

No not been sold. I have spoken to them all and I am currently in a 30 day grace period. It's with 4 separate cc companies. I haven't used a debt management company yet, but they are the only people I have managed to speak with. Can't seem to get independent debt advice and I am self employed, so cannot use step change or any other others. Only business debt line - I have been trying for days to get through to, but can't. Even though its not business debt it personal debt. The debt management company I spoke to suggested and IVA, which I understand they are financially motivated to do. I really could do with independent advice to talk through my options and answer a few questions, but can't seem to obtain it at the moment.

Currently have large amount of debt, have spoken a debt management company, as the debt us unsustainable and I can't afford the interest payments on it . Can't get through to independent debt advice companies at the moment ? Looks like I will be facing an IVA or bankruptcy. Last ditch attempt before I go down the above routes, I am wondering what my chances are of getting money back , debts reduce, or interest paid back on the basis of unaffordable lending. My main credit card debt is £21,000, this account was started with a £12,000 credit limit back in 2003 and there was a steady increase since then, up to present amount. My income has always been quite low, so I believe there is an argument to challenge them on the basis that they haven't done their due diligence before making their lending decisions. I went on from 2008 to take out further credit cards and they kept increasing my limit. Showing I was struggling to sustain the debts. I think I may have a case, but I am wondering about the time limits on my claims. From browsing the internet I am aware that the legislation I am looking to enact, didn't come into force until 2008 ? will I be able to claim from 2008 onwards ? For the last 10 years or so I have just about managed to make the minimum payments to pay the interest off, I have made no dent in the credit amount and its just increased. Thanks in advance for advice.