Struggling with debt? Ask a debt advisor a question

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  • Florida15
    Florida15 Posts: 82 Forumite
    Thank you for your reply. I am a worrier.

    When i spoke to stepchange yesterday they advised that I ring the bank and try to find out why it was returned as they didnt know. This was why i was fretting about it.

    Thanks,
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    tasha1986c wrote: »
    I currently on a DMP and I feel like this is never going to end. My debt is around 13,000 and i have a car on finance which is around 9000. If I opted for an IVA would I have to return the car and cancel the finance? Or would the finance be included in the IVA or would the finance run along side the IVA? Im just trying to work out my best option as we are struggling with money going everywhere due to a huge change in income. thanks :D

    Hi,
    If you are struggling with your DMP then it may not be the most suitable solution for you, particularly if you’ve had a change in income.

    It sounds like you need some up-to-date advice to see what your options are now. Use our online advice tool, Debt Remedy. It uses your budget to recommend the solutions open to you and offers clear next steps advice in a personal action plan. It only takes about 20 minutes. You can also contact us if you’d prefer to speak to a debt advisor.

    With the car if you went for an IVA it would depend on you circumstance if you were able to keep it or not. Factors such as how much the monthly payment is, your ability to pay it and any decision from the HP company. An IVA specialist would be able to offer you a definitive answer.

    I'm not sure if you're paying a fee on your DMP but you should always go with a provider that does not charge a fee. It may be a DMP is still suitable you just need the monthly payment re-assessing.

    Do Debt Remedy or give us a call and we can recommend the best solution and refer you to our IVA specialist if it’s the best option for you.

    I hope this helps.

    Thanks,
    Jess
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Florida15 wrote: »
    Thank you for your reply. I am a worrier.

    When i spoke to stepchange yesterday they advised that I ring the bank and try to find out why it was returned as they didnt know. This was why i was fretting about it.

    Thanks,

    Hi,

    No problem at all - it's understandable to be concerned. We will keep trying to send the payment that is reflective of what you can afford. You could speak to the bank but don't go out of your way, we will re-send the payment.

    Thanks,
    Jess
  • 1purplerose
    1purplerose Posts: 1 Newbie
    Hello, I need some help..i have been with barclays now for 20 years and i have found my finances for a while now have struggled and i am a business owner and single, i have found that a few direct debits are being returned due to insufficient funds and barclays are charging me daily which is just making matters worse for me and i dont know what to do..some charges are up to £22 per return, the charges have now taken me well over my overdraft limit..can someone help??? :mad:
  • StepChange_James
    StepChange_James Posts: 861 Organisation Representative
    1purplerose wrote: »
    Hello, I need some help..i have been with barclays now for 20 years and i have found my finances for a while now have struggled and i am a business owner and single, i have found that a few direct debits are being returned due to insufficient funds and barclays are charging me daily which is just making matters worse for me and i dont know what to do..some charges are up to £22 per return, the charges have now taken me well over my overdraft limit..can someone help??? :mad:

    Hi there,

    It sounds like things are a struggle now and I can completely understand how frustrating it can be to have bank charges adding to the problem.

    If you think any of these charges were incorrectly applied or unfair then you could ask for a refund. Some banks can be quite understanding if you explain the circumstances.

    I'd also recommend that you look at getting some in depth debt advice to try and help your situation. If you've got business debts then it might be worth speaking to Business Debtline: http://www.bdl.org.uk/. However, if you're more concerned about your personal finances then we can help.

    Our Debt Remedy tool can help you plan out a personal budget and work out what options you've got. It takes about 20 minutes and is completely anonymous. Here's the link: http://www.stepchange.org/msehelp.

    It may also be worth think about opening up a new basic bank account with a bank you don't owe any money to. This will mean you've got a place to pay in money that you need for essentials and will avoid it getting swallowed up in your overdraft.

    Kind regards

    James
    I work as a debt advisor for StepChange Debt Charity (formerly CCCS) 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

    If money worries are keeping you awake, read Paul's success story at Need to Sleep
  • Florida15
    Florida15 Posts: 82 Forumite
    StepChange_Jess wrote: »
    Hi,

    No problem at all - it's understandable to be concerned. We will keep trying to send the payment that is reflective of what you can afford. You could speak to the bank but don't go out of your way, we will re-send the payment.

    Thanks,
    Jess

    I have contacted stepchange again (they will be sick of me) and explained that I have spoken to the bank and the bank say they never received payment. The account number and sort code have obviously not changed from the first payment stepchange made to them so i cannot see what has gone wrong.
    I dont know what else to do to try and make sure the next payment goes through correctly.
    This is worrying me a lot and i dont want anything to go wrong with my DMP through no fault of my own.
    Thanks for any advice.
  • Pickle29
    Pickle29 Posts: 238 Forumite
    Combo Breaker First Anniversary
    Hi Florida

    Is your account in the recovery team at Barclays? When it happened to me, the current account people couldn't see it neither could the recovery team. Stepchange gave me a bacs reference numbers which I gave to the bank. They then checked their rejects/suspense file and found it, returned it to sc who resubmitted it! Apparently it happens often when accounts like ours go from normal current accounts/ overdraft to recovery team! Ask sc for the bacs no and go back to the bank - it will be there somewhere! Honest!
    Xx
  • Florida15
    Florida15 Posts: 82 Forumite
    The bank said yesterday that it had not yet gone to collections so I am unsure what has happened. Do I just hold on and wait to see if Feb payment goes through? Just scared in case Stepchange wont do my DMP anymore !
  • Pickle29
    Pickle29 Posts: 238 Forumite
    Combo Breaker First Anniversary
    Florida
    Please try not to worry. If you are paying stepchange, they will not refuse to help you!
    Can you ask sc for the bacs no so that the bank can search for it? You have paid so it must be somewhere and it's between the 2 of them!

    These glitches happen and worrying as they are, they will get sorted soon. :A
  • Florida15
    Florida15 Posts: 82 Forumite
    Thanks for your advice xx
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