This might be more of a legal query.
My brother owes me a reasonable sum of money and tells me he's 'going bust'. How can I check that he's telling the truth and not just 'pulling a fast one' to further delay repayment? (yep, I have asked him but we've now got to the point where every/anything he says might be a lie).
Why don't you force the issue (if he owes you more than 1500) by taking bankruptcy proceedings against him? That will give him the last chance to pay you and let him know he's in the last chance saloon. Of course if it comes to that you do have proof of the debt yes??
Learn your lesson, and never lend to your family.
That is good advice.
You should be contacted as a creditor.
Daytona
Useful. Thank you for the link
You might also find it helpful to talk to a bankruptcy adviser at Clear Start (it won't cost you anything to do so and they'll hopefully be able to answer your questions).
There's a freephone number you can use which is 0800 138 5445
That's a good example of a debt management company.
Here's what the a poster on a forum that is the best place for debt advice in the UK says about such companies -
"Debt Management Companies
A lot of people see the adverts on TV promising to reduce your payments to an affordable amount each month by negotiating payment terms with your creditors. The bit they miss is that they charge a fee
- usually around 15%. This is 15% of your money that could be paying off your debts! Instead, try the following companies who offer the same service at no cost to you:
- Free debt management companies: and
- Free debt advice: "
Quote from -
Payplan are funded by the credit industry as a whole -
"Every penny you pay into a Payplan arrangement goes to your creditors and reduces what you owe. This is because we receive funding from the credit industry who recognise the need for a free service."
The Consumer Credit Counselling Service (CCCS) is a charity -
"The Consumer Credit Counselling Service is a registered charity whose purpose is to assist people who are in financial difficulty by providing free, independent, impartial and realistic advice. "
The National Debt Helpline is a charity -
"We are a charity (Registered Charity Number 1099506) formed in 1991 to increase the quality and availability of free, independent money advice in the UK."
There is an excellent forum for debt issues here - - TMF dealing With Debt board. Start here
Many of the people have been there, done that, & got the T-shirt, so the advice is from people who have a detailed knowledge of the subject.
More links on my webpage -
Daytona
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