Serious Debt!!!!!!!!!!

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
29 Jan 2010 12:00 AM by desperfamily Star rating. 2 posts Send private message

Sad, sad situation.

 

Oh well! I’m sure I will receive hundreds of replies to this post and I am not expecting them to all be good or for everyone to be on my side.

 

Like many others in this day and age I am in debt! Serious debt!

 

For some unknown reason over the years I have managed to pile up so many credit cards and loans it is not even funny!

 

I could not even tell you what happened with the money as I really do not have much to show for it.  Somehow the more I got the quicker it went! I was robbing Peter to pay Paul for more than 5 years and finally it has come to an end.

 

I cannot afford to pay everyone back, I am struggling like mad just to meet my mortgage payments every month and living on the bare minimum, I owe money to friends and family as well.

 

The rest of my family is in a very similar situation though some choose to ignore reality and still want to live like if nothing has changed.

 

I fell for the trap! Every day I would get emails from my bank offering more money “just click here” and the minute you did your account was credited with money you did not have 10 minutes ago, find credit cards in the post I had never even applied for and loan companies throwing the money at me! Credit card companies increasing the limit without me even asking for it!

 

If I had not fallen for the trap, the situation would not be nowhere near this bad.  Recently one of the loan companies has taken me to court. I am at risk of losing everything I own (A car worth €3.000 and property worth €200.000) I went to see a layer in Malaga the other day.

 

I asked “Surely as I am working before they take the car that I need to go to work or the house they would go for an embargo on my wages” the reply I got was “NO”.

 

Apparently when you are in debt first the embargo your accounts, then your goods and finally your wages, I find this ridiculous.


According to the lawyer there is nothing I can do and they will sell the house for the amount of the loan which is €7.500. Furthermore he has said this will happen in the next 6 months as it is an execution case. This is only the first law suit of many.

 

I have no idea about laws or if they can really do this but as far as I was aware they could only take your property if they had nowhere else to take the money from and I still have my wages!

 

We risk losing everything and have nowhere to go, this is madness!  My mortgage is paid and therefore this bank is the only one that will not take me to court.  They refuse to extend my mortgage or allow me an interest only period, they do not want to help and I cannot go to another bank as I am blacklisted because of the debts.

 

Before you all start responding and telling me I should have not spent money I did not have I will tell you I agree, I was a complete and utter idiot and should have known better!

 

Nevertheless surely some of you will agree that it is not fair for people to carry on throwing money at you when it is obvious you cannot pay it back, the rely on this being the situation to make their business work and then leave you in the dump!

 

I have tried to renegotiate everything and none of these companies wanted to, now that I really cannot do anything, all of a sudden they want to negotiate! Toooooo late! Where were these negotiations when I could have done something.

 

Why when I called over a year ago I was fobbed off? Why will none of them ever put anything in writing? Half of them do not even send you a copy of the contract you signed unless you pay €20.  Surely when you sign a contract you are in title to your own copy.

 

I do not know how to face my family every day and have no idea where to go from here.  The property is on the market for €150.000 but so far no interest as we live in an area full of these properties and everyone is selling.

 

Any advice or help will be appreciated!

 

The desperate one!

 





Like 0      
29 Jan 2010 1:36 PM by bfr Star rating. 217 posts Send private message

Hi

I am a financial advisor and surely unless the car and other debt was secured against your home they have no rights to it. The only way they do have rights to it is if the lender agreed to it, which I doubt very much!

That' the way it works in the uk anyway with unsecured debt.

I would speak to a financial advisor in Spain and see if they can assist in a debt management scheme?

regards

 

 

 

 





Like 0      
29 Jan 2010 1:53 PM by mariadecastro Star rating in Algeciras (Cadiz). 9354 posts Send private message

Legal Questions? Speak to Maria Direct

Have you try to reunify your debts and try to set a payment plan?

Best,

Maria



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



Like 0      
29 Jan 2010 2:41 PM by desperfamily Star rating. 2 posts Send private message

Thank you bfr and Maria for your comments.

I have tried to remortgage with over 30 banks and over 10 financial advisors.  On many ocassions they thought they could help and last minute i was always let down.

Maria, I can see you are a lawyer.  Can they really sell my house for such a small amount? I never gave the house as guarantee, they have just decided to try and take it?

 





Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Problem with an owner of a ren - 2 posts
Hab cert - 2 posts
Events and activities in the area - 0 posts
NIE - 2 posts
ANY GOOD PAINT SUPPLIERS NEAR CIUDAD QUESADA? - 3 posts
Sign the petition for Dog Parks! - 2 posts
Shipping items To Spain: What Fees, Paperwork ? - 8 posts
Mortgage 4 Spain - 2 posts
Legal costs - 4 posts
Buying a car in Spain - 2 posts
buenos días from a new user - 2 posts
Looking for self drive van hire/ Storage - 2 posts
Missed AGM - 1 posts
what do I do now? - 12 posts
Golf tournament in aid of Haiti - 5th February 2010 - 0 posts
On Airport Parking Murcia Airport - 4 posts
Manicurist - nails - 0 posts
Granada, Motril, Malaga Motorway - 7 posts
Piano / Keyboard Lessons - 0 posts
Escaping from Florida, USA - 21 posts
Bus From Alicante Airport - 4 posts
2 month rental - what documentation should I receive ? - 5 posts
watching Spanish tv in UK - 6 posts
Lawyer taking money doing nothing - 54 posts
Kiss Flights from Glasgow to Spain - 2 posts

Number of posts in this thread: 4

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:  
Email:
   


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x