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Struggling with debt? Ask a debt advisor a question
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# 1
MSE Andrea
Old 05-11-2012, 5:42 PM
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Join Date: Mar 2003
Location: Here :)
Posts: 6,318
Default Struggling with debt? Ask a debt advisor a question

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 James, Mat or Rachel 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).

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



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


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Last edited by MSE Andrea; 23-10-2013 at 2:06 PM.
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# 2
one_day_rodders
Old 05-11-2012, 9:52 PM
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Join Date: Nov 2012
Posts: 6
Default Mortgage Conundrum

Hi,

Have DMP in place & running for unsecured debts (c/cards + o'draft) - everyone paid on time in full each & every month without fail. All appear "happy" with plan with the exception of the Halifax who
a) charge more interest than any other creditor
b) continuously get things wrong
&
c) insist on using the most threatening terminology in their correspondence.
What are others experiences of the Halifax's uncooperative nature & threatening verbiage? Is there anything I can do with these guys or do I have to just take it on the chin?

(ps - the lender that in my experience should be praised to date is Barclaycard as everything has been handled without fuss or threatening correspondence.)

Anyway to my main point. Everything was in control until my partner has now decided that she has had enough & wants to leave + be taken off the mortgage.

As I believe I am in a "default situation" with the unsecured debt I believe my credit rating is shot. Should this be the case can anyone confirm ( I thought that one of the "benefits" of putting a DMP in place was that this could actually go some way to improving ones credit rating if kept up to date)?

Our joint mortgage is with the Halifex & saw them today to see if the mortgage could be put in my name only - however that application failed the credit check.

So the situation for really both myself & my partner is unless she is prepared to leave her name on the mortgage then I will be forced to sell the house & face the prospect of never being able to own another property as I am now 45 & my DMP will potentially run for another 6+yrs.

I have carried out limited research into govt mortgage help via local councils but it appears that because I do not have any children, disabled or elderley/infirm co-dependants then I will not qualify for assistance. Oh the joys of being a White Single "Healthy" British Male that has always paid his way.

I would be really grateful if anyone could advise / point me in the right direction - in the mean time I will continue to hope & pray the other half will see some sense in remaining on the mortgage at least short term until the financial situation improves but I don't really hold much hope there.

The sooner I have no further dealing with the Halifux the better!!!

Whilst I was "happy" with the DMP situation & the debt being a problem but under control this took away the immediate pressure / worry - but with this now looming even though I could pay everything as would take a lodger in to make up the shortfall, + possibly take on additional work / whilst continuing the job search to improve income anyways - it would all be to no avail as I would not get the mortgage approval due to credit ratings.........

Is there no end to this madness?

It's enough to drive you into a mental institution!

Last edited by one_day_rodders; 05-11-2012 at 10:00 PM. Reason: More appropriate
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# 3
Walaboobah
Old 05-11-2012, 10:30 PM
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Join Date: Jan 2009
Posts: 223
Default

Totally agree with you about Halifax, at present not even acknowledging that I have contacted them about the DMP!

MBNA and Barclays, I have nothing but praise for at the moment!

Guess which company I owe the most too though!
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# 4
one_day_rodders
Old 05-11-2012, 11:49 PM
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Join Date: Nov 2012
Posts: 6
Default

Walaboobah - lol at tag ;o]

Halifux (deliberate spelling!) are truly awful with their incompetence & language on their correspodence - although when you get to speak with them they tend to be as helpful as they can - nevertheless state they can't do anything about the charges as they are their policies.
6k owed to B/card v 6k to Halifux - 2012 projection b/card pay off 675 - Halifux 250 even though monthly payments same - go figure!
Isn't the purpose of the DMP aimed at reducing the debt pile??? - isn't that what both parties want???

I must say all my creditors barring Halifex & Natwest (who are a v close 2nd in the whose the most obnoxious unhelpful category) have been exceptionally fair over the whole matter - (hope I haven't spoken too soon lol)
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# 5
HSBCtrapped
Old 06-11-2012, 12:33 PM
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Join Date: Nov 2012
Location: wales
Posts: 8
Default

Can you give me any advice on HSBC managed loans? How can they be fair and how can I get out of one, they are killing me and no help at all!
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# 6
StepChange_Mat
Old 06-11-2012, 1:50 PM
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Default

Quote:
Originally Posted by one_day_rodders View Post
Hi,

Have DMP in place & running for unsecured debts (c/cards + o'draft) - everyone paid on time in full each & every month without fail. All appear "happy" with plan with the exception of the Halifax who
a) charge more interest than any other creditor
b) continuously get things wrong
&
c) insist on using the most threatening terminology in their correspondence.
What are others experiences of the Halifax's uncooperative nature & threatening verbiage? Is there anything I can do with these guys or do I have to just take it on the chin?

(ps - the lender that in my experience should be praised to date is Barclaycard as everything has been handled without fuss or threatening correspondence.)

Anyway to my main point. Everything was in control until my partner has now decided that she has had enough & wants to leave + be taken off the mortgage.

As I believe I am in a "default situation" with the unsecured debt I believe my credit rating is shot. Should this be the case can anyone confirm ( I thought that one of the "benefits" of putting a DMP in place was that this could actually go some way to improving ones credit rating if kept up to date)?

Our joint mortgage is with the Halifex & saw them today to see if the mortgage could be put in my name only - however that application failed the credit check.

So the situation for really both myself & my partner is unless she is prepared to leave her name on the mortgage then I will be forced to sell the house & face the prospect of never being able to own another property as I am now 45 & my DMP will potentially run for another 6+yrs.

I have carried out limited research into govt mortgage help via local councils but it appears that because I do not have any children, disabled or elderley/infirm co-dependants then I will not qualify for assistance. Oh the joys of being a White Single "Healthy" British Male that has always paid his way.

I would be really grateful if anyone could advise / point me in the right direction - in the mean time I will continue to hope & pray the other half will see some sense in remaining on the mortgage at least short term until the financial situation improves but I don't really hold much hope there.

The sooner I have no further dealing with the Halifux the better!!!

Whilst I was "happy" with the DMP situation & the debt being a problem but under control this took away the immediate pressure / worry - but with this now looming even though I could pay everything as would take a lodger in to make up the shortfall, + possibly take on additional work / whilst continuing the job search to improve income anyways - it would all be to no avail as I would not get the mortgage approval due to credit ratings.........

Is there no end to this madness?

It's enough to drive you into a mental institution!
Hi and welcome to the forum

It sounds like you would benefit from some free and impartial advice.


We dont really give mortgage advice and Id recommend that you seek the help of an independent specialist in this area. You are correct in thinking that your credit rating may limit the availability of mortgage products.

The first thing to do is look at what the situation will be like if your partner leaves, you dont mention the household budget and whether your partner will continue to contribute towards the mortgage (if they did in the first place). You also dont mention if the property is in negative equity or has equity available.

Looking at your budget going forward it could be that you may be more suited to looking at other debt solutions. Wed need to know more details before we could suggest which.

Its definitely worth calling your DMP provider to discuss this. Its also worth noting the we offer DMPs free of charge so that all the money you pay into the plan goes towards clearing your debts, we also offer free and impartial advice on a whole range of other debt solutions.

Weve written a blogpost regards joint debts which you may also find useful.

http://moneyaware.co.uk/2011/09/we-g...dm_t=0,0,0,0,0

You could also visit our online debt advice service Debt Remedy (http://www.stepchange.org/msehelp) to help you find a solution quickly.


Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.


To help you fill in the form, its best to gather together information about:

Your income

Your expenditure

The creditors you owe money to


Youll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.


If youre not confident with computers or would like to speak to an advisor then youre welcome to ring our free Helpline on 0800 138 1111. Were open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm.


If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.


I hope this helps.


Kind regards,


Mat
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# 7
HSBCtrapped
Old 06-11-2012, 4:49 PM
MoneySaving Newbie
 
Join Date: Nov 2012
Location: wales
Posts: 8
Default

Please can you help me I was forced to take out a managed loan with HSBC on the 10/07/2007 due to a split with a violent ex and me taking on all the debt just to get out of it.
The loan amount was for 23.500.00 and 13.3% variable. Amount owing on 1/09/2012 is still 13.326.00. The loan is over 12 years so I have 7 more years of paying 316 a month. I can't see how this can be fair , they will have had over double what I owed from me by the end.
I really don't know what to do and find it all upsetting. Is this interest rate allowed?


Please help
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# 8
StepChange_James
Old 07-11-2012, 9:56 AM
Has MSEs permission to post for company
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Join Date: Sep 2012
Posts: 752
Default

Quote:
Originally Posted by HSBCtrapped View Post
Please can you help me I was forced to take out a managed loan with HSBC on the 10/07/2007 due to a split with a violent ex and me taking on all the debt just to get out of it.
The loan amount was for 23.500.00 and 13.3% variable. Amount owing on 1/09/2012 is still 13.326.00. The loan is over 12 years so I have 7 more years of paying 316 a month. I can't see how this can be fair , they will have had over double what I owed from me by the end.
I really don't know what to do and find it all upsetting. Is this interest rate allowed?


Please help
Hi,

Thanks for posting. There isnt a maximum amount of interest or a maximum timescale for unsecured loans, so HSBC didn't break any laws by giving you this loan.

HSBC managed loans, though often lasting for longer periods of time, are similar to other types of unsecured loan and we can give you advice on how to deal with them, well just need a bit more information about your finances.

The first thing to do is visit our online debt advice service Debt Remedy (http://www.stepchange.org/msehelp) to help you find a solution to your debt problem quickly.

Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.

To help you fill in the form, its best to gather together information about:
Your income
Your expenditure
The creditors you owe money to

Youll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.

If youre not confident with computers or would like to speak to an advisor then youre welcome to ring our Helpline on 0800 138 1111 (free including from mobiles). Were open Monday to Friday 8am - 8pm and Saturdays 9am 3pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.
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

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# 9
one_day_rodders
Old 07-11-2012, 6:29 PM
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Join Date: Nov 2012
Posts: 6
Default

Stepchange_Mat

Thanks for your reply - I have been in touch with Stepchange & they are putting me in touch with Compass Mortgages with whom you are linked who should be able to advise me.

I pay the mortgage however is in joint names, "C" pays bills most of. "C" wants to be free of everything so no would not be contributing any further to the upkeep of the house or the mortgage.

There is approx a hole in my budget of 350 - 400 month to fill.
This could be covered by renting a room out.

Yes there is equity in the house of approx 15k - split bewteen 2 = 7.5k each.

My debts total around 30k+
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# 10
StepChange_James
Old 08-11-2012, 9:25 AM
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Join Date: Sep 2012
Posts: 752
Default

Quote:
Originally Posted by one_day_rodders View Post
Stepchange_Mat

Thanks for your reply - I have been in touch with Stepchange & they are putting me in touch with Compass Mortgages with whom you are linked who should be able to advise me.

I pay the mortgage however is in joint names, "C" pays bills most of. "C" wants to be free of everything so no would not be contributing any further to the upkeep of the house or the mortgage.

There is approx a hole in my budget of 350 - 400 month to fill.
This could be covered by renting a room out.

Yes there is equity in the house of approx 15k - split bewteen 2 = 7.5k each.

My debts total around 30k+
Hello,

Getting a lodger in can be a great way to bring in some extra money. Obviously there are things to consider first, such as getting the right person in and making sure the room you are renting is somewhere that a lodger would want to stay, etc.

While it may not be a long term option, you can always reduce payments to your unsecured debts if you find you need most of your money to support living costs.

Hopefully Compass will be able to give you some advice about the mortgage side of things, but we can advise you on how best to deal with your unsecured debts if you need to change your current arrangements.

All the best.

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

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# 11
loopylu36
Old 08-11-2012, 12:13 PM
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Join Date: Oct 2007
Posts: 499
Default HCE Group Debt

Hi

I wonder if you would be able to help me please? I have been paying HCE Group 150 per month for a debt that was originally with EON. I thought I had just about paid if off but they say I still owe them 527! They say that they are adding interest to the balance. I have been struggling to pay the 150 and this month it will be a real (if not impossible) struggle to pay it. Are they allowed to add interest and can I renegotiate the payments with them - They were very forceful in the first instance and frankly made me agree to 150 per month with the usual bailiff style threats. Any help or advice would be great, thanks.
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# 12
StepChange_James
Old 08-11-2012, 12:45 PM
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Default

Quote:
Originally Posted by loopylu36 View Post
Hi

I wonder if you would be able to help me please? I have been paying HCE Group 150 per month for a debt that was originally with EON. I thought I had just about paid if off but they say I still owe them 527! They say that they are adding interest to the balance. I have been struggling to pay the 150 and this month it will be a real (if not impossible) struggle to pay it. Are they allowed to add interest and can I renegotiate the payments with them - They were very forceful in the first instance and frankly made me agree to 150 per month with the usual bailiff style threats. Any help or advice would be great, thanks.
Hello,

Debt collectors are allowed to add interest to debts but often will freeze this if they agree to a payment with you. As you've found, it makes it much harder to bring a debt down when you're having to pay interest.

It's possible to get lower payments agreed on this type of debt but you will more than likely need to give them an up to date income and expenditure budget. We can help you put one of these together and give you advice on how best to proceed with our Debt Remedy advice tool (http://www.stepchange.org/msehelp).

It usually takes about 20 minutes and will give you a customised advice booklet, including your income and expenditure budget, with details on how best to move forward.

Hope this helps.

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

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# 13
kjglen24
Old 08-11-2012, 2:11 PM
MoneySaving Convert
 
Join Date: Jun 2012
Posts: 30
Default Hi I am in need of some help

Hi there, I am need of some desperate help.

If I admit it, I am in debt.... and I need to get out!

I have just paid 2 online for a copy of my credit report, as I don't even know all of my debts......

What do I do now, how to do I go about clearing them. I haven't spoken to the companies for years and I just buried my head in the sand being a young student and all that stupid I know.

I have very good relations with my bank at present so don't want to mess that up so wouldn't go bankrupt or anything, on the other hand I don't have much spare monies after bills/food e.t.c. go out either.

Thanks for the help in advance

Kerry
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# 14
StepChange_James
Old 08-11-2012, 4:14 PM
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Join Date: Sep 2012
Posts: 752
Default

Quote:
Originally Posted by kjglen24 View Post
Hi there, I am need of some desperate help.

If I admit it, I am in debt.... and I need to get out!

I have just paid 2 online for a copy of my credit report, as I don't even know all of my debts......

What do I do now, how to do I go about clearing them. I haven't spoken to the companies for years and I just buried my head in the sand being a young student and all that stupid I know.

I have very good relations with my bank at present so don't want to mess that up so wouldn't go bankrupt or anything, on the other hand I don't have much spare monies after bills/food e.t.c. go out either.

Thanks for the help in advance

Kerry
Hi Kerry,

Thanks for posting. It must've taken a lot of courage to face up to these debts. Getting a copy of your credit file was a good idea and it should tell you who is currently dealing with your debts and show a balance (though this isn't guaranteed to be up to date).

Once you've got these figures I'ld suggest you get in touch with us for advice. The easiest way to do this is to use our online advice tool Debt Remedy (http://www.stepchange.org/msehelp). It will ask you for information about your finances and give you expert advice on how to sort out the debts.

If you'd prefer you could call our helpline or request a call back, details here: http://www.stepchange.org/Contactus.aspx.

Even if you need most of your money for living costs there will be options available to deal with your debts, it's just a matter of working out what suits you best.

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

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# 15
feekerry
Old 09-11-2012, 8:52 AM
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Join Date: Oct 2011
Posts: 9
Default

hello,

i'm in desperate need of some advice. I'll outline my situation without rambiling on (hopefully!)

i have unsecured debts of about 27k with about 6 creditors. all credit cards or loans (no pay day loans or anything like that) all are paid on time every month (min payment) and i've never missed a payment on anything.
i am just managing to pay everything every month but things are very tight.
i've just been advised that my work is relocating my office to over 30 miles away. this will increase my petrol bill by 200 a month and my childcare costs too as travel to work will now take over an hour and 15 mins each way. i cannot afford this.
i tried to get a consolodation loan but i've been declined due to my level of existing debt ratio to my income.
i have considered a dmp but my major problems are that i work for a company that about half my debts are with (building soc!!) so i obv cannot default on those debts as i'd lose my job. in fact, my company often do financial checks on employees so if i defaulted on anything i'd be in trouble.
i have considered leaving my job and getting a local job that would mean less traveling and less childcare and looking a dmp then but i'd be looking at a job with a considerably lower income as i have no qualifications but have a relitively high salary at present due to being with the company for over 15 years. if i found a job with a lower salary it would leave very little for my debts

my other major concern is i live with my partner and we have a joint mortgage with the company i work for so i'm really worried if i did a dmp they would get funny about the mortgage and it would affect my partner. we have totally seperate finances apart from the mortgage so i wouldnt want my partner to be affected in any way. I'm also really worried if i did a dmp about threatening letters and telephone calls as i wouldnt want my partner to have to deal with these.
i just dont know what to do.
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# 16
StepChange_James
Old 09-11-2012, 9:58 AM
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Join Date: Sep 2012
Posts: 752
Default

Quote:
Originally Posted by feekerry View Post
hello,

i'm in desperate need of some advice. I'll outline my situation without rambiling on (hopefully!)

i have unsecured debts of about 27k with about 6 creditors. all credit cards or loans (no pay day loans or anything like that) all are paid on time every month (min payment) and i've never missed a payment on anything.
i am just managing to pay everything every month but things are very tight.
i've just been advised that my work is relocating my office to over 30 miles away. this will increase my petrol bill by 200 a month and my childcare costs too as travel to work will now take over an hour and 15 mins each way. i cannot afford this.
i tried to get a consolodation loan but i've been declined due to my level of existing debt ratio to my income.
i have considered a dmp but my major problems are that i work for a company that about half my debts are with (building soc!!) so i obv cannot default on those debts as i'd lose my job. in fact, my company often do financial checks on employees so if i defaulted on anything i'd be in trouble.
i have considered leaving my job and getting a local job that would mean less traveling and less childcare and looking a dmp then but i'd be looking at a job with a considerably lower income as i have no qualifications but have a relitively high salary at present due to being with the company for over 15 years. if i found a job with a lower salary it would leave very little for my debts

my other major concern is i live with my partner and we have a joint mortgage with the company i work for so i'm really worried if i did a dmp they would get funny about the mortgage and it would affect my partner. we have totally seperate finances apart from the mortgage so i wouldnt want my partner to be affected in any way. I'm also really worried if i did a dmp about threatening letters and telephone calls as i wouldnt want my partner to have to deal with these.
i just dont know what to do.
Hello,

Thanks for getting in touch. This relocation sounds to have made things much harder for you, when things were already pretty stretched.

If there is someone at your work that you know you can talk to about these things it might be worth checking how the land lies about staff members with debt problems. This might be a line manager or someone in HR that you can talk to in confidence.

Most financial institutions have a hard line policy written into contracts but often in practice they are willing to allow staff members to do DMPs (and include their own debts within the DMP), provided they can see that things are being dealt with.

From what you have said, you are unlikely to be able to maintain full payments to your debts at the moment, so I would recommend getting in touch with us for advice anyway.

With you and your partner keeping your finances separate, we can give advice based purely on your financial situation. If you were to do something like a DMP then it could affect your ability to get some mortgages in the future but I can't see why it would do anything to the current mortgage you have.

The first thing to do is visit our online debt advice service Debt Remedy (http://www.stepchange.org/msehelp) to help you find a solution to your debt problem quickly.

Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.

To help you fill in the form, its best to gather together information about:
Your income
Your expenditure
The creditors you owe money to

Youll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.

If youre not confident with computers or would like to speak to an advisor then youre welcome to ring our Helpline on 0800 138 1111 (free including from mobiles). Were open Monday to Friday 8am - 8pm and Saturdays 9am 3pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

All the best.

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

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# 17
I spent my pennies
Old 10-11-2012, 5:44 PM
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Hi, I am seeking some advise on my possible soon to be difficult financial situation. To give a brief outline my wife and I have stuggled with debt for a number of years and recentley she has had to set up a dmp with yourselfs which starts in 1 week. On the dmp is a joint loan to the sum of 9k. It is in arrears of 1622. Although whats mine is hers ect we had seperate bills with me taking on more of the household bills as her debts increased. I have been paying mine all on time and they are decreasing slowly but with no spare money at the end of the month. I fear when the joint bank loan which is on the dmp it will not be enough and they will be chasing me for the full payment which I fully expect and could have paid when it was taken out but now unaffordable since taking on more bills. We have a default notice served on the loan in writing stating they want the arrears or it will taken further. I'm not sure what to do next but guess as I cannot afford to take in on myself would have to maybe have a dmp set up for myself or change hers to a joint 1. My wife was told that the bank may not chase me up but it is a joint loan. I haven't looked at my credit rating but assume it is rock bottom. Any suggestions what to do next most welcome.
Thanks
Dan

Last edited by I spent my pennies; 10-11-2012 at 6:05 PM. Reason: spelling
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# 18
Gem2012
Old 10-11-2012, 8:57 PM
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Join Date: Nov 2012
Location: Stoke on trent
Posts: 5
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Hi
We are looking for help...

Currently in around 30,000 worth of debt most my husbands before my time...
We've tried an iva with debt free debt that failed as we couldn't keep up the 250 guide price
Now with a company called bright oak debt help, they charge, think its about 23 in our 123 payments, but I'm still getting all the letters off creditors and I don't get any monthly statements off her to explain where our money is going and I'm a bit worried incase she isn't paying people
Also I have a load of debt listed that came off his iva, that we have included in the debt management plan as well but looking on hubby's credit file today some of them aren't even showing...so is there a way to find out if they've been wrote off or what?.
Also did a statement of affairs and it says that we have no surplus funds but I have included all the debts even the ones that weren't showing on the credit file and I can change our expenditure
We were thinking of doing it ourselves instead, contacting the creditors and arranging payments, I have files from a national debt line also from this site that we can fill in and send but a. I'm not sure where some debts have gone? And b. I'm not sure whether we could get rid of the little debts and then tackle the big one or do we have do they all together?

Can someone help us please

Thanks
Gemma
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# 19
Breakdowncoming
Old 12-11-2012, 9:31 AM
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Join Date: Nov 2012
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Firstly i am on an ipod so bad gramma. I am in big trouble. I have so many debts including payday loans i cant pay back my hubby has left me i am a nurse and cant wirk as my car has broken down noone to help me. I have no mortgage but noone will lend me money to consoladte . What can i di i have less than a quid and cant get to work
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# 20
StepChange_Mat
Old 12-11-2012, 10:20 AM
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Quote:
Originally Posted by I spent my pennies View Post
Hi, I am seeking some advise on my possible soon to be difficult financial situation. To give a brief outline my wife and I have stuggled with debt for a number of years and recentley she has had to set up a dmp with yourselfs which starts in 1 week. On the dmp is a joint loan to the sum of 9k. It is in arrears of 1622. Although whats mine is hers ect we had seperate bills with me taking on more of the household bills as her debts increased. I have been paying mine all on time and they are decreasing slowly but with no spare money at the end of the month. I fear when the joint bank loan which is on the dmp it will not be enough and they will be chasing me for the full payment which I fully expect and could have paid when it was taken out but now unaffordable since taking on more bills. We have a default notice served on the loan in writing stating they want the arrears or it will taken further. I'm not sure what to do next but guess as I cannot afford to take in on myself would have to maybe have a dmp set up for myself or change hers to a joint 1. My wife was told that the bank may not chase me up but it is a joint loan. I haven't looked at my credit rating but assume it is rock bottom. Any suggestions what to do next most welcome.
Thanks
Dan
Hi Dan and welcome to the forum.

It sounds like you would benefit from some free and impartial advice.


Id recommend that both you and your wife call us so that we can look at the situation as a whole. It could be that you would both be better off on a joint DMP or there could be other solutions available.

Weve got a blogpost about joint loans that should explain more about joint liabilty

http://moneyaware.co.uk/2011/09/we-g...ho-has-to-pay/

Its usually a lot better to look at household budgets as a whole rather than separately, and this should ease your situation.

Youre welcome to ring our free Helpline on 0800 138 1111.

Were open Monday to Friday 8am - 8pm and Saturday 9am until 3.00pm, if your wife is with you can quote her details and we can look at the household situation from there.

I hope this helps.

Kind regards,

Mat
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