Please never wait until the $#!t hits the fan before asking for help. $h!t splatters and most people don't want to be splattered.
You signed for the credit so you are liable. Its too late to go to the bank to ask for help as they have already taken legal action. It does take a few months before they (the bank) get to this stage, so what have you been doing about it? The only avenue now left is debt counselling. Not ideal, but it will give you a chance if you can demonstrate a willingness to pay. Put your cards (all of them) on the table and stick to the repayment plan. READ the documents and make sure that you understand everything. If not sure, ask them to explain again. Ask for options.
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