Please Help Since the credit crunch and its effects on my business (Insurance), over the last couple of years my finances have nose dived to their current problems. I had taken a Nat West "Secured Loan" (£90k) to help the business, which I now can not afford the monthly payments and Nat West have passed to Ascent Legal to commence possession proceedings. We current live in the property with 9yr old son. I have also defaulted on my Nat West "Overdraft" (£10k) which has also been passed to Ascent Legal, who in turn are demanding full payment or "Court Proceedings" Nat West terminated my banking facilities. I also have a couple of credit card companies chasing for settlement, but it is the Nat West that I am concerned about. The Secured Loan is in joint names and the Overdrafts in my name only. Currently my earnings are not guaranteed, preventing a repayment plan. After discussion, we intend to sell our property in order to clear the debts and move to a smaller property. With the "Secured Loan" attached to our residence, surely the bank know they will be paid. At present our home , mobiles and work telephones are being rung repeatedly by Ascent 7 days a week. In what is a stressful situation, I am not denying the debt, just looking for the correct way to handle the situation. I have had a spell in hospital recently and Work/Business is struggling resulting in lack of cash. Do I request a SAR from Ascent ? or Nat West ? Do I acknowledge the Ascent Legal letters ? Where do I start ?

Hi, Try to make this brief, my ex and I seperated 5 yrs ago and he ran up many debts, one I reluctantly agreed to have secured on my home soley in my name but the loan was in joint names, I struggled to pay the loan for a year, I have two disabled children and on income support at there carer. my ex refused to pay any amount to the loan or CSA or even see the children, he cleanly walked away. I went to the CAB and they contacted first plus and agreed a smaller amount which I have paid every month without fail for 4yrs, the arrears are now 8K and they want to start possession, they stopped taking payments in Feb2012 the CAB have tried to reneog with them but they havent responded, I have now gone to them with an offer of the orginal amount plus an extra amount of the arrears, do you think they will accept this, its been two weeks now and they havent responded, I thought under the laws they couldnt start possession if my mortgage is paid via DWP and if I make a fair offer they need to either accept or decline within 10days, is this correct.....I am at my wits end, this is making me very ill, I feel so let down that my ex could leave us in such a mess....I also feel its unfair...I have always paid the mort and paid my half of the loan, (which only has two more years to go)...I cant beleive we face loosing our home because of the debt he left behind.