Just don't seem to have enough!

looktothefuture

I've finally pulled my head out the sand and faced my debt problems (actually that should read, I've finally opened the 4 carrier bags of post I've been ignoring for almost a year!) - Whao... what an eye opener!

I contacted each creditor and asked them to send me a detailed breakdown of my debt that I owe them. Most of which I've now received and been offered very reduced payment plans, some of which have written me not so polite letters stating I have 14 days to pay in full and final settlement or it's off to court for me - I've written back to those with my full financial break down, requesting a reduced payment plan in light of my financial problems.

So, the main reason for this post is because I'm scared that once I've got the reduced payments in place from my creditors, and despite really reigning in on my already tiny grocery budget, I still won't have enough money to pay these all back!

I need help!

Burlesque_Babe

hi - and welcome.

The best thing to do is to post up a statement of affairs so we can see what your situation is and how much you have each month left over and where your other outgoings can be trimmed.

Then we can help with suggesting how to tackle each of the creditors.

Jesthar

Hiya, future, and welcome!

Further to Babe's post, SoA calculator is here:

http://www.makesenseofcards.com/soacalc.html

~Jes

GeorgeUK

We don't know what you can afford to pay - you should never agree to pay more than you can afford.

Are you in Scotland or England? There are different ways of approaching this if you are in Scotland.

Can you post up a statement of affairs (SOA)? Basically a list of all your income, expenditure and debts.
https://www.makesenseofcards.com/soacalc.html

You may also want to try getting advice from payplan or CCCS - these are free debt charities that can advise you on how to make the agreements and can possibly contact the companies that refuse to agree a repayment plan or to freeze interest.

halight

Hi mate,
So sorry to hear of your troubble,
If thing are really bad have you thourt about going banruped?
Have to spoken to cccs? about your debts? thay might have ways or ideas to help you.
all the best amte and keep us upto date with howe you are getting on

looktothefuture

Thanks for replying!

I am at work at the mo so will put up my SOA at some point this evening! It is quite a shocker (but a situation that I'm quite sure we've all been in before!)

To answer your questions:
*I am in England
*I have spoken to Payplan (put onto them by cccs) actually and although they were helpful, they couldn't actually help me because when she did my SOA I came out with a negative amount left over at the end of the month - there is just no way I could cut down anything more!
*Can't declare bankruptcy as I am South African living in UK on an Ancestoral Visa (Expires in 2012) - I can't even claim benefits as I have no recourse to public funds.


Thanks for your help new friends!