If you are unable to pay your bills, you should notify your creditors and see if they will agree to forgive the amount. If you can't pay your bills because you don't have enough money or assets to sell, you can file for a Debt Relief Order or Bankruptcy Order.
Yes. The national debt line is for the UK only.
In the UK, debt is written off when the financial burden is simply too much for the person or company. Debts are also forgiven when a person is seriously ill or has passed away.
If one runs into difficulty with too much debt to repay, most lenders will negotiate a lower level of payment. However, one needs to contact them to reach such an agreement. One can then pay off one's debts by agreeing levels of payment one can afford.
If the debt has been written off, it no longer exists and therefore does not need to be paid.
There are sites online that advertise their debt collection business. Some of these Debt Collectors are UK Debt Collection, Debt Recovery UK, Debt Collect and Debt Recovery Plus.
In short YES, I am a debt lawyer here in the UK and it will be possible to prove you owe the debt and it can be sold on to a UK debt collection agency.
No. If you wish to redeem the debt you need either to go bankrupt (legally) or enter into an arrangement to pay off the debt. If you livew in the UK go and see the Citizens Advice Center to help you with this.
UK Debt Management Office was created in 1998.
Yes it can ! Depending on how resilient the company is - they can chase you round the planet to recover their debt ! If necessary, they can even have you deported back to the UK to face a court of law ! Better to settle on an agreed repayment plan !
If you are at present in the UK contact your local Citizens' Advice Bureau. From what you write there seem to be a number of irregularities in your status.
UK Debt Consolidation Services is one of the many companies in the UK which specializes in debt consolidations. They will help people consolidate their loans, often with a lower monthly payment.
None ! Debt recovery agencies simply 'buy' the debts from companies who are owed money - they then write to the customer or 'debtor' and tell them they will be taking steps to recover the debt. This can be either through the courts, or by doorstep collection.