hi to all, advice needed i think!

confusedone

i there i have been putting posts in another part of this forum, and been advised to put a link here to my question

http://forums.moneysavingexpert.com/showthread.html?t=1099599&highlight=confusedone


what do you think would be the next best financial step if i am going ahead with br?? and one more thing ive heard that they dont take into account overtime, and from some that they do? any views on this? many thanks for any help, alan.

skylight

Overtime depends on lots of things. Is it contractual, regular etc and it can also depend on your OR.

Rabbit-in-headlights

Hello confusedone, I referred to your previous DFW thread and see you have some more questions:

quote:
[If we do consider the br route, what do people think? cccs suggested that if we are want to get out of debt AND are not bothered about our house, then br is a very realistic option. one idea for actually getting the money together for rent and deposit, and of course the br application charges, was to just not pay any loans. cancel direct debits, and not pay the mortgage or secured debts, as we are not concerned about keeping the house either. sounds very strange to us, always worried about paying on time, to just NOT pay???

so if we were to take this erm option, should we not string it out for say 2 months pay, but KEEP the money, and when we went to court we explain that we still have all the money for the debts but could part of this be kept for the 1200 needed for rent and bond?? if they take into account 'reasonable living', would this be appropriate??

very scary stuff. alanx]


Well, I'm very new to this too, my LBM was in July and I have chosen to try the DMP route, but was also advised to cancel all non-secured debt DD's.... so in August I have paid only the mortgage and "priority" bills (council tax, elec, etc).:eek:

It does feel weird not paying as I have never missed payments before (although the last few months I've had to "borrow from Peter to pay Paul", so to speak, just to keep up. I have also learned to ignore the phone ringing as I'm getting calls several times a day - haven't answered a single one (caller id very useful:D ). (There a letter templates you can send to stop these calls and insist on written communication only, if it becomes a problem just ask on this board and someone will post one up for you).

The thing is, even though it feels strange to not pay, it also feels empowering:D . Now that I understand exactly what my financial position is and how I got here, I also understand that just making minimum payments (even if I could afford to) is not the answer - something has to change and stopping all those DD's is the first step.

So, cancel those DD's and take back control and then you will be ready to make the right decision for you about what happens next, whether you choose the BR route or a DMP, for example.

And, from reading on here about others' experiences with BR, I think you will find that a lot of people use the money saved this way to fund BR fees, rent deposit, etc - but I'm sure someone more experienced will be along to advise you on that aspect.

Whatever you decide, keep posting and best of luck! You are on the right road and will find loads of help here!


Rabbit

dalip

I would sugest you start a new fresh thread on here. Giving us all the revelent info and any quesions you may have. That way you will get all the answers you are looking for explained and some very sound advice from others who have experience of such things. From what has been posted up to now you have been given the correct advice,strange as it may seem to now. Look forward to seeing that new thread.D