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  • FIRST POST
    • MSE Andrea
    • By MSE Andrea 18th Nov 16, 1:05 PM
    • 8,820Posts
    • 21,127Thanks
    MSE Andrea
    Struggling with debt? Ask a debt advisor a question
    • #1
    • 18th Nov 16, 1:05 PM
    Struggling with debt? Ask a debt advisor a question 18th Nov 16 at 1:05 PM
    If you need help with your debts, this is the thread for you.

    Trained advisors from StepChange Debt Charity (formerly CCCS) are here and waiting to answer your debt questions. They’re a friendly bunch so please don’t be shy!

    There are three ways to get in touch:

    1 - Simply post your question below and the team will reply. If your question is about bankruptcy, then pop over to the Bankruptcy board.

    2 - If you would prefer to ask a question in private, feel free to send a message to StepChange Private Messages.

    3 – StepChange Debt Remedy is a free and confidential online debt advice tool. You can put a budget together at your pace, and you can also talk it over with an advisor through online chat.

    If you're a StepChange Debt Charity client already, please contact its Aftercare team rather than posting in this thread (their contact details are in your Welcome Pack).

    If you're self employed and need debt help please get in touch with Business Debtline.

    This is discussion thread part four, see parts one, two and three.

    Finally, follow @MSE_Forum on twitter for debate and discussion on all things MoneySaving and more.

    If you haven’t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by MSE Andrea; 07-12-2017 at 2:44 PM.
    Could you do with a Money Makeover?


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Page 22
  • StepChange_Allen
    Hi. I have about 6.5K of debts. These are from credit card and loan from Halifax and payday loan from Zopa.

    I earn just about enough money to get me out of my overdraft each month after paying my rent, car finance, car insurance, bills, petrol and food for my family.

    I simple don't have any spare money to pay these loans and I'm looking for what's best for me?

    Worst of all my wife doesn't know about this either. I simple can't bring myself to tell her but things are getting worse and worse. We have 2 young girls and we know money is really tight and live month to month.

    1) my car is on finance with ford, I have never missed a payment and I can't afford to loose my car. My job is 30 mins away and I start at 6am from my little village there are No buses till later on.

    2) we privately rent and again I have never missed a payment. Would the landlord need to know?

    Thanks.
    Originally posted by MG123456

    Hi there

    Welcome to the forum and thanks for posting.

    I'm sorry to hear that things are tough at the moment but we'll definitely be able to help you find a solution to get things under control. We'd need to get a detailed picture of your financial situation first, so to get started, details of how to register with us are here: www.stepchange.org/Contactus

    If you're up to date with your rent and stay that way, there shouldn't be an issue with your property. Some debt solutions could possibly have an impact but we can discuss this once when you get in touch and make sure you're happy with whatever we recommend.

    If a car is essential for work, you'll be able to keep that car or get another whatever debt solution you choose, so don't worry about that. Again we'll talk about this in more detail when we see what your options are.

    I hope this is helpful and that we hear from you soon.

    Allen
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • reason2
    • By reason2 9th Aug 17, 11:18 AM
    • 193 Posts
    • 209 Thanks
    reason2
    Hi,

    I recently had 4 CCJ's applied to my credit file. All at old old addresses. I know these people had my up to date address but didnt send any correspondence to them.

    I applied to have them set aside and as there were 4 of them, i applied for help with fees as i do not have £1100 to pay for these fee's.

    this was rejected because apparently, expenditure doesn't get considered, simply put, if you earn more than their limit (pre tax) then you arent eligible.

    even though my £20 debt repayments take up a lot of my outgoings, these cant be counted and so they deem i can afford £1100 (i definitely cant)

    i want them set aside as i believe they have deliberately sent docs to old addresses in order to have the judgements applied by default and i would rather deal with these so they dont impact my file for 6 years.

    however i simply cant afford the extortionate fees.

    it is also unjust that the solicitors can send docs to random addresses to by pass myself and get judgements by default.

    this makes me want to not both because clearing things will make no difference to my file with 4 X CCJ's there for 6 years.

    do i have any other options to try and get these set aside knowing i cant afford the £1100 fees
  • StepChange_Linsi
    Hi

    Thanks for getting in touch.

    Iím sorry to hear about whatís happened and that you werenít aware these creditors had decided to take further action.

    The only way to have a CCJ set aside is to use an N244 form which has a £255 fee. You need to use one form per debt which would cost £1020 for four debts. Although youíd need to pay the fee upfront, if the judgement is set aside and the creditor is found to be at fault, you can request that they pay the costs of the applications. There is more information about setting aside a judgment on our website, should you decide to pursue this.

    If you had been able to reply to the claim forms and you admit you owe the debts, then you would have received a judgement in acceptance (if the creditor accepted your offer) or a judgement by determination (if the court decided on the payment). Either way a CCJ would still be recorded on your credit file.

    So, if you agree that you do need to repay these debts then the cheaper option would be to use an N245 form to vary the judgement. This costs £50, so £200 for four debts. Varying a judgment allows you to set up an affordable monthly repayment though the country court and as long as you stick to the agreed repayments the creditors wonít be able to take any further action (unless you are a home owner).

    Having judgement in default as opposed to a judgement in acceptance or a judgement by determination doesnít have any greater impact on your credit file.

    You can also ask the credit reference agencies to put a notice of correction on your report of up to 200 words explaining the cause of the debt. Thereís more information about credit files and the credit reference agencies on our website here.

    If you need help working out an affordable repayment you can use our Debt Remedy tool to create a budget and get tailored advice online.

    I hope this helps,

    Linsi


    Hi,

    I recently had 4 CCJ's applied to my credit file. All at old old addresses. I know these people had my up to date address but didnt send any correspondence to them.

    I applied to have them set aside and as there were 4 of them, i applied for help with fees as i do not have £1100 to pay for these fee's.

    this was rejected because apparently, expenditure doesn't get considered, simply put, if you earn more than their limit (pre tax) then you arent eligible.

    even though my £20 debt repayments take up a lot of my outgoings, these cant be counted and so they deem i can afford £1100 (i definitely cant)

    i want them set aside as i believe they have deliberately sent docs to old addresses in order to have the judgements applied by default and i would rather deal with these so they dont impact my file for 6 years.

    however i simply cant afford the extortionate fees.

    it is also unjust that the solicitors can send docs to random addresses to by pass myself and get judgements by default.

    this makes me want to not both because clearing things will make no difference to my file with 4 X CCJ's there for 6 years.

    do i have any other options to try and get these set aside knowing i cant afford the £1100 fees
    Originally posted by reason2
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Mature-Student
    • By Mature-Student 10th Aug 17, 1:34 PM
    • 21 Posts
    • 4 Thanks
    Mature-Student
    Can they do this?
    Hi

    I am slowly getting myself out of the mire and seeing the light at the end of the tunnel. I want to go for a promoted post at work but know that when they see the one default on my credit file it will be an automatic no.

    The default happened 6 years ago (lender's mistake with dd while I wasn't dealing well with family illness & death) and the lender very quickly sold the debt on. I have been paying it off for the last three years and have less than 20% of the original amount left to pay. I can just get together about three quarters of the amount outstanding (without taking on more debt) so emailed the legal firm handling the repayments with a full & final offer. They wanted to know the source of this extra money then simply said I had to fill in an income and expenses form first.

    I don't want to do this as my income is now a bit higher but I have been using the extra to pay off other debts that charge interest. The defaulted one has no interest added, don't know why. I'm worried they will try to force me to pay more to them as well as take the lump sum.

    Are they allowed to act this way? They are the intermediary between myself and the company that bought the debt.

    Thanks
  • StepChange_Linsi
    Hi

    Thanks for your post.

    A creditor or company acting on behalf of a creditor isnít under any obligation to accept a full and final settlement offer, and they can ask for additional information before making a decision.

    Whilst they can ask for this information youíre not under any obligation to provide this. The only exception would be if you were ordered by a court.

    A default remains on your credit file for six years from the date itís registered. So if the default happened about six years ago it should be removed from credit file soon, even if you still owe money to the creditor.

    The creditor may ask for higher payments if your income has increased but they canít force you to do this. If you decide to complete the income and expenses form itís also worth listing the other debts youíre currently repaying. Also if your settlement offer is accepted make sure you get this in writing before making a payment.

    I hope this helps.

    Linsi

    Hi

    I am slowly getting myself out of the mire and seeing the light at the end of the tunnel. I want to go for a promoted post at work but know that when they see the one default on my credit file it will be an automatic no.

    The default happened 6 years ago (lender's mistake with dd while I wasn't dealing well with family illness & death) and the lender very quickly sold the debt on. I have been paying it off for the last three years and have less than 20% of the original amount left to pay. I can just get together about three quarters of the amount outstanding (without taking on more debt) so emailed the legal firm handling the repayments with a full & final offer. They wanted to know the source of this extra money then simply said I had to fill in an income and expenses form first.

    I don't want to do this as my income is now a bit higher but I have been using the extra to pay off other debts that charge interest. The defaulted one has no interest added, don't know why. I'm worried they will try to force me to pay more to them as well as take the lump sum.

    Are they allowed to act this way? They are the intermediary between myself and the company that bought the debt.

    Thanks
    Originally posted by Mature-Student
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Pagcelt
    • By Pagcelt 11th Aug 17, 10:37 AM
    • 3 Posts
    • 0 Thanks
    Pagcelt
    Hi,

    I have quite a bit of credit card debt and a sizeable overdraft. I am hoping to try and buy a house with my partner in the near future so really need to get my debt sorted.

    One credit card has £382 and an apr of 16.6%
    One credit card has £1922 and an apr of 29.7%
    Another credit card has £5517 and an apr of 26.18%

    I'm only managing to pay just over the minimum payment on these cards.

    I also have an overdraft of £1990 that I have usually maxed out by the end of the month. This was costing £1 a day but I have just had a letter to say the fees are changing from the 2nd of November and I will now be charged 1p a day for every £7 I have borrowed. By my calculations this will more than double the cost of my overdraft.

    I have a sharesave account through work that will be maturing at the start of December and will be worth around £4000 but possibly a bit more.
    My plan is to use this to clear my overdraft and clear the balance on the card that has the £1922 on it. Any extra that I have leftover I was going to use to clear the card with the smallest balance just to get rid of it entirely and then put the rest towards the last card.

    Do you think this would be the best course of action or do you have any other advice?

    Kind regards,

    Paul Agnew.
  • StepChange_Kirsty
    Hi Paul,

    Thanks for your post and welcome to the forum.

    Thatís good news that youíve got a plan of action for dealing with the debts and a sharesave scheme to help you repay these. At the moment interest on debt tends to be much higher than interest on savings so it is sensible to try clear your debts first. This article on the main MSE site explains more.

    The article also explains you should pay off the most expensive debts first. In your situation it is clear the overdraft is going to cost you the most so getting rid of this is very sensible.

    On face value it would appear that the £1,922 credit card would be costing you the more as it has the highest rate of interest but actually 26.18% on a balance of £5,517 is much more expensive than 29.7% on a balance of £1,922 so it might be more cost effective to reduce the highest balance first. Of course if you wanted to clear two of the credit cards just to have less to juggle, that would be your decision.

    Once youíve used all the money from the savings, you then need to start bringing the balances down by paying by instalments. Again start by attacking the one which is costing you the most, so the one with the highest interest on a monthly basis, whilst still maintaining minimum payments to the others. When one is paid off, move onto the next.

    Remember, it is really important that when youíve cleared these debts that you remove the option to use them again. Make sure you withdraw your overdraft facility as soon as it is paid off and look to cut up your credit cards ASAP.

    As soon as your debts are cleared, you can move on and start saving for your house.

    I hope this helps.

    Kirsty

    Hi,

    I have quite a bit of credit card debt and a sizeable overdraft. I am hoping to try and buy a house with my partner in the near future so really need to get my debt sorted.

    One credit card has £382 and an apr of 16.6%
    One credit card has £1922 and an apr of 29.7%
    Another credit card has £5517 and an apr of 26.18%

    I'm only managing to pay just over the minimum payment on these cards.

    I also have an overdraft of £1990 that I have usually maxed out by the end of the month. This was costing £1 a day but I have just had a letter to say the fees are changing from the 2nd of November and I will now be charged 1p a day for every £7 I have borrowed. By my calculations this will more than double the cost of my overdraft.

    I have a sharesave account through work that will be maturing at the start of December and will be worth around £4000 but possibly a bit more.
    My plan is to use this to clear my overdraft and clear the balance on the card that has the £1922 on it. Any extra that I have leftover I was going to use to clear the card with the smallest balance just to get rid of it entirely and then put the rest towards the last card.

    Do you think this would be the best course of action or do you have any other advice?

    Kind regards,

    Paul Agnew.
    Originally posted by Pagcelt
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Pagcelt
    • By Pagcelt 11th Aug 17, 2:10 PM
    • 3 Posts
    • 0 Thanks
    Pagcelt
    Hi Kirsty,


    Thanks for the speedy reply. It sounds like I'm on the right track then. I think I would prefer to clear the two smaller credit cards first and then leave myself with just the larger one to concentrate on clearing.


    Thanks again.


    Paul.
    • Pagcelt
    • By Pagcelt 11th Aug 17, 2:21 PM
    • 3 Posts
    • 0 Thanks
    Pagcelt
    I should also add that myself and my partner have been paying into a save to buy ISA with Santander that is giving us 4% interest as well as a 25% bonus from the government when we put this towards a mortgage deposit.


    Am I right to assume that it would be silly to use some of this towards the debt as I would be forfeiting the 25% bonus?


    Thanks,


    Paul.
  • StepChange_Kirsty
    Hi again Paul,

    Just to let you know, as a charity we specialise in debts rather than savings but I think youíre right that you donít need to forfeit your Help to Buy ISA unless you're really struggling to maintain even contractual payments, especially so now that youíve got a good plan in place.

    You might want to consider putting payments into the ISA on hold so you can focus your efforts on clearing the debt. As the previous article explains, what you are paying in interest on the credit cards will far outweigh what you are able to gain in interest from the ISA. In the end that will mean you will be able to save much more.

    All the best

    Kirsty

    Hi Kirsty,


    Thanks for the speedy reply. It sounds like I'm on the right track then. I think I would prefer to clear the two smaller credit cards first and then leave myself with just the larger one to concentrate on clearing.


    Thanks again.


    Paul.
    Originally posted by Pagcelt
    I should also add that myself and my partner have been paying into a save to buy ISA with Santander that is giving us 4% interest as well as a 25% bonus from the government when we put this towards a mortgage deposit.


    Am I right to assume that it would be silly to use some of this towards the debt as I would be forfeiting the 25% bonus?


    Thanks,


    Paul.
    Originally posted by Pagcelt
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • tedblight
    • By tedblight 12th Aug 17, 11:14 AM
    • 36 Posts
    • 3 Thanks
    tedblight
    Please don't judge me....

    I have a lot of debt, £12,500 in total.
    3 Credit Cards, Maxed out & 1 Over Draft (about £330 per month in total out goings)
    Current Credit Score is 702 out of 999 on Experian.(Poor) Never a late payer just a minimum payer. No CCJ or anything like that, but just always on the bread line. I'm normally about £150 short each month on meeting my outgoings. I don't live a life of luxury. I don't drink, smoke or gamble, No sky TV lol etc. I have to rely on my partner to stop any direct debits bouncing etc.

    Anyway, Now that Lloyds are moving the goal posts on overdraft fees. It will now increase from £50 per to about £135 per month.
    This would finish me off.

    The APR's are quite high on the credit cards but I can't get a consolidation loan at a lower rate due to my credit score.

    In 2012 my Equifax score was 448 (Good - Above Average) but the cost of living rockets and wages have frozen.
    I've changed utilities suppliers recently and I'm always trying to get the best deals on essential services. Even if I saved a few quid here and there. The short fall means I can't use the saved money to pay of existing debt quicker.

    I know it's all of my own doing, so please be kind to me.... I guess my case is typical around the country.

    Life sucks!
    • sourcrates
    • By sourcrates 12th Aug 17, 11:25 AM
    • 12,670 Posts
    • 12,002 Thanks
    sourcrates
    Please don't judge me....

    I have a lot of debt, £12,500 in total.
    3 Credit Cards, Maxed out & 1 Over Draft (about £330 per month in total out goings)
    Current Credit Score is 702 out of 999 on Experian.(Poor) Never a late payer just a minimum payer. No CCJ or anything like that, but just always on the bread line. I'm normally about £150 short each month on meeting my outgoings. I don't live a life of luxury. I don't drink, smoke or gamble, No sky TV lol etc. I have to rely on my partner to stop any direct debits bouncing etc.

    Anyway, Now that Lloyds are moving the goal posts on overdraft fees. It will now increase from £50 per to about £135 per month.
    This would finish me off.

    The APR's are quite high on the credit cards but I can't get a consolidation loan at a lower rate due to my credit score.

    In 2012 my Equifax score was 448 (Good - Above Average) but the cost of living rockets and wages have frozen.
    I've changed utilities suppliers recently and I'm always trying to get the best deals on essential services. Even if I saved a few quid here and there. The short fall means I can't use the saved money to pay of existing debt quicker.

    I know it's all of my own doing, so please be kind to me.... I guess my case is typical around the country.

    Life sucks!
    Originally posted by tedblight
    Hi Ted

    Stepchange reps wont be back till Monday, have a look on there website, plenty of info on debt management etc, sounds like all you need is a debt management plan, or possibly a debt relief order, have a look at the debt remedy tool, fill in your details, (totally anonymously) and it spits out a solution for you.

    Any more info you need, please post in the general DFW forum.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • tedblight
    • By tedblight 12th Aug 17, 11:49 AM
    • 36 Posts
    • 3 Thanks
    tedblight
    Hi Ted

    Stepchange reps wont be back till Monday, have a look on there website, plenty of info on debt management etc, sounds like all you need is a debt management plan, or possibly a debt relief order, have a look at the debt remedy tool, fill in your details, (totally anonymously) and it spits out a solution for you.

    Any more info you need, please post in the general DFW forum.
    Originally posted by sourcrates
    Thank you, I shall look into that site.
    • Annabel10
    • By Annabel10 12th Aug 17, 9:21 PM
    • 1 Posts
    • 0 Thanks
    Annabel10
    I'm really stuck. When I'm struggling with my mental health I bury my head in the sand and spend. To be honest it's like I'm in a trance, and just spend spend spend.
    I'm trying to sort out my debts now, but I have so many debts every time I try and sort it out, another debt pops up. How can I track down all my debts, and who they've been sold on to?
    Thanks in advance.
    • cath3070
    • By cath3070 12th Aug 17, 10:34 PM
    • 5 Posts
    • 1 Thanks
    cath3070
    Help asset link capital
    12th Aug 17, 9:27 PM
    CATH3070
    View public profile
    Send private message
    Find more posts
    View all thanked posts
    Add to contacts
    Hi all. Can someone please help me. I was paying off an old first trust bank overdraft now with a balance of 300. Today I got a letter from the bank to say they sold the debt to asset link capital at a value of 919. Why have they sold it at the wrong amount? it's not on my credit report. I'm scared to ring them incase it ends up showing on my credit file as I'm getting ready to apply for a mortgage. Should I just ignore this altogether. If I rING it might alert them that my last payment was on in June 17 and they add it to my file then it'll ruin my score and show for 6 years. I'm so stressed worrying about this. I thought all was ok as I was paying it off, but looks like they haven't even taken in to consideration the 600 quid I've already cleared . Please help
    • DCFC79
    • By DCFC79 12th Aug 17, 11:13 PM
    • 30,399 Posts
    • 19,220 Thanks
    DCFC79
    12th Aug 17, 9:27 PM
    CATH3070
    View public profile
    Send private message
    Find more posts
    View all thanked posts
    Add to contacts
    Hi all. Can someone please help me. I was paying off an old first trust bank overdraft now with a balance of 300. Today I got a letter from the bank to say they sold the debt to asset link capital at a value of 919. Why have they sold it at the wrong amount? it's not on my credit report. I'm scared to ring them incase it ends up showing on my credit file as I'm getting ready to apply for a mortgage. Should I just ignore this altogether. If I rING it might alert them that my last payment was on in June 17 and they add it to my file then it'll ruin my score and show for 6 years. I'm so stressed worrying about this. I thought all was ok as I was paying it off, but looks like they haven't even taken in to consideration the 600 quid I've already cleared . Please help
    Originally posted by cath3070
    It might ruin your score only you can see it, lemders see the history.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • cath3070
    • By cath3070 13th Aug 17, 9:55 PM
    • 5 Posts
    • 1 Thanks
    cath3070
    Sorry I don't follow. It's well over 6 years old. Can they add it again to my report? Don't lenders see everyone on ur report? What action should I take?
    • sourcrates
    • By sourcrates 13th Aug 17, 11:02 PM
    • 12,670 Posts
    • 12,002 Thanks
    sourcrates
    Sorry I don't follow. It's well over 6 years old. Can they add it again to my report? Don't lenders see everyone on ur report? What action should I take?
    Originally posted by cath3070
    Hi,

    This is the stepchange debt advisors thread, I note you have posted this in various threads, I have answered in one of your other posts.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
  • StepChange_Linsi
    Hi Ted

    Thanks for your post.

    I can see sourcrates recommended you use our Debt Remedy tool on Saturday to find a better way to manage your debts. If you havenít had chance to do this yet here's the link.

    If you have used the online tool you shouldíve been able to download a personal action plan at the end. This contains your tailored advice and recommended debt solution.

    Should you have any questions about this advice or any questions about the Debt Remedy tool you can contact us directly. You can find our contact details by clicking the ĎNeed Helpí button at the bottom of each page in Debt Remedy. Our number is also in the personal action plan.

    I also want to reassure you that the advice we provide is free, impartial and most importantly non-judgemental. Weíre here to help you get back on track and find the right debt solution for you.

    All the best,

    Linsi

    Please don't judge me....

    I have a lot of debt, £12,500 in total.
    3 Credit Cards, Maxed out & 1 Over Draft (about £330 per month in total out goings)
    Current Credit Score is 702 out of 999 on Experian.(Poor) Never a late payer just a minimum payer. No CCJ or anything like that, but just always on the bread line. I'm normally about £150 short each month on meeting my outgoings. I don't live a life of luxury. I don't drink, smoke or gamble, No sky TV lol etc. I have to rely on my partner to stop any direct debits bouncing etc.

    Anyway, Now that Lloyds are moving the goal posts on overdraft fees. It will now increase from £50 per to about £135 per month.
    This would finish me off.

    The APR's are quite high on the credit cards but I can't get a consolidation loan at a lower rate due to my credit score.

    In 2012 my Equifax score was 448 (Good - Above Average) but the cost of living rockets and wages have frozen.
    I've changed utilities suppliers recently and I'm always trying to get the best deals on essential services. Even if I saved a few quid here and there. The short fall means I can't use the saved money to pay of existing debt quicker.

    I know it's all of my own doing, so please be kind to me.... I guess my case is typical around the country.

    Life sucks!
    Originally posted by tedblight
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
  • StepChange_Linsi
    Hi Annabel

    Thanks for your post and welcome to the forum.

    Iím sorry youíre feeling stuck and struggling with mental health issues. Whilst we can certainly support you with your debts, you can also get help and support for mental health issues by speaking to your GP or contacting organisations such as Mind or the Samaritans.

    Iíd recommend getting a copy of your credit report from each of the credit reference agencies in the UK. Here are the links to where you can access this information for free:

    ē Noddle (Call Credit)
    ē ClearScore (Equifax)
    ē MSE Credit Club (Experian)

    Creditors donít have to update each credit reference agency so some debts can show on one credit report but not on another.

    If you have any letters from your creditors you can also contact them directly. Theyíll be able to let you know if the debt has been passed to a collection agency and the last known balance.

    When you have this information you can create a budget and get free tailored advice from us about the best way to manage your debts. You can do this online using our anonymous Debt Remedy tool, hereís the link.

    Alternatively, if youíd prefer more support creating a budget you can call our Helpline team instead. Here are the contact details for our Helpline.

    I hope this helps.

    Linsi

    I'm really stuck. When I'm struggling with my mental health I bury my head in the sand and spend. To be honest it's like I'm in a trance, and just spend spend spend.
    I'm trying to sort out my debts now, but I have so many debts every time I try and sort it out, another debt pops up. How can I track down all my debts, and who they've been sold on to?
    Thanks in advance.
    Originally posted by Annabel10
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
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