This is my situation work has been going well until now work is just dropping off and i cant find the money to pay my Barclays personal loan, Barclays business loan, Barclay Card, Capital one card and Lloyds tsb loan. The total debt comes to around £26000 and it is costing me a grand total of £770 per month. I cant cope with it any more! So its time to play the game i am going to be opening new bank accounts for personnel and business transfer all my rent, utility bills and so on to my new account and not pay a penny more into Barclays or Lloyds when the new accounts are set-up.
I will then start the 3 step letter process to all my creditors and hope for the Best PLEASE feel free to advise me on what i can exspect and how to deal with them as i am trying to get my head around this it has not clicked yet!