I currently have approx £10000 of debt. Whats the worst that could happen if i dont repay it? Its unsecured.?
535947
Prison. If you cannot reasonably repay the debt through making money (selling stuff, bailiffs etc.) or making an offer of repayment to the finance companies (you will find they are reasonable if you are honest with them and in a bad situation) then inevitably you will be taken to court. If you still cannot or do not co-operate you may well go to prison. You will also find you have difficulties getting credit in the future, no mortgage, no car finance, no  0% deals on sofas or TV's. If I were you, I'd get to the bank and sort something out.
82725
What you should do is talk to them and explain your situation... Also I would look into going through a debt consolidator... That is what I do... and I was in your situation and now all I have left is less than a year and I am debt free!!!! I had to go to court for one of my bills... and when I did that the person said that they couldnt take money I didnt have, so they worked with me so I am paying a very low payment... SO your best solution is to talk to all of them... They may be able to help you out...
217294
What you are talking about is an "unsecured loan" in banker's language.\n\nMy quess is that if you have sufficient debt that you need to consider a consolidation loan, you are very unlikely to find a legitimate lender who will advance you the funds on an unsecured basis.  You notice, I said legitimate.  Loan Sharks would loan you the money, but the rate would be higher than what you pay on your credit cards and the "collectors" might be a little aggressive.
1052313
Doesn't matter if you don't have an agreement, you are joint and severally liable, now that you have paid all the bills, you can recover a reasonable amount ie, fair proportion from him.\n\nIs your flat mate worth taking action against, if the amount your owed is more than £750 then you can issue a statutory demand.\nThis is most dangerous weapon in law, ie if he doesn't pay he will be bankrupted.\n\nIs there a reason like he can't pay, like he can't afford it, you should try and get the utility company to split the bill, they may not agree but this way the liability is severed. Best course of action is to get him out, inform the landlord, and he may start eviction proceedings or notice to quit.\n\nThe longer way to really sting him, is keep paying the bills, then hit with the statutory demand, that will teach him a lesson he will never forget. He will take action unless is some kind of no hoping tramp loser .
948011
no they will cut the benefit,so you repay the outstanding balance back - i.e 5 pound a week etc.
474527
Don't feel threatened by this.  If you don't pay your medical bills, they WILL be reported to your Credit Report.  Don't worry though, you won't go to jail if you don't pay it, but you might regret it later when you need to purchase something on credit.
570110
you will have extremely bad credit for having a debt over 10 years
651192
can you give me some money not borrow! £100 will be fine or ten points ha-ha. and i think you don't look plain at all don't lisson to them
930365
try asking a friend and make sure you pay them back\nand then start working on taking care of your finacies properly so that so don't have to no more
984633
It's pretty low.  If I were you I would stop borrowing and find a way to pay off more of my debt.
681461
Depends on your creditworthiness and you debt to income ratio. Basically, if you are of good credit character (pay on time) and can afford the payment (debt versus income) then you shouldn't have a problem.
353378
Don't do it if you can avoid it in any way. Your credit will be shot for a very long time. (not to mention it isn't a very upstanding way to settle your debts)
393358
You still owe them the funds, irrespective of it being their mistake. They cannot penilize you for it i.e: charge intertest that you would not have paid, or make additional money on the deal. However as they have inconvienced you, they should allow you to settle the debt in a manner that you have been doing without additional fees.\n\nYou may be entitled to compensation for damages if for example you had already budgetted for another item. In that case a lawyer would be the person to handle that.
777737
I take it that one of your creditors has made you bankrupt in England.\n\nUnfortunately there's not a lot you can do to counter that -- except that if you are in fact insolvent the creditor is going to get nothing and will have paid £400 or so to relieve you of all your debts, including his.\n\nI'm on holiday right now, but I have Prof. Ian Fletcher's treatise on English bankruptcy law at home and I was reading up on this question last week.\n\nA vindictive or stupid creditor (Amex does it all the time) can make a debtor bankrupt, and the only defense is that the money isn't owed. But few creditors ever get any money by doing this. Yet, in England (though never in America) they do it all the time.\n\nYou will get convoked before a referee or trustee and you will be examined on your assets. These days "guilt" (as in over-spending) is hardly an issue. Everybody is over-spent and over-indebted. So long as you're not hiding anything there's nothing they can do. It's an offence to abscond with assets or to hide assets. The first thing you should do is to tell anyone who might die and leave you money to change their will to put it in a discretionary trust. \n\nGood luck.
887962
I would be concerned about any unsecured debt, except students loans.  This included personal loans and credit cards.\n\nIn addition, if you fell behind on your loan payments, i would also be concerned.\n\nIf you are worried about it, you probably have a problem.  I would do a budget and see if you expenses are higher than your income.  If so, you need to cut down on the expenses you control (Going out to eat, entertainment, cable tv, ...)  You could also try to consolidate your debt to a lower interest rate.
248176
You could be.  You're credit rating will be screwed.. a lot of bad things will happen to you. How about paying them off?
101060
If you feel the moral obligation to repay some of your debts over time, you might consider a Chapter 13 bankruptcy.  I consider debt consolidationn services to be worthless.  Contact a local bankruptcy for further assistance.