Please help......

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Hello again In_Despair. Been thinking about your problem, and have a few suggestions.

Read Martin's piece on Childcare vouchers on this link
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1129566540,79743,
you may find you qualify and few people seem to have heard of them.

I agree your gas and electricity prices look high. Go to one of the price comparison places such as uswitch to find out who is cheapest. This is one of the easiest things to do.

Dig out your mortgage agreement and find out if there are penalties for changing. You may be able to find a better deal, and in some cases this can save quite a lot.

With regard to the 0% credit cards, if you have not defauted on any payments you may be able to get one or two. It is not a good idea to apply for too many in a short time. Credit limits seem to be in the lap of the Gods, but some providers do say they may match your existing card balance if you want to do a transfer. Things to watch for are balance transfer fees - plenty of info on this site about that - and also bear in mind that you can't do a balance transfer between cards from the same provider. It isn't an instant solution because the whole process takes about 6 weeks, but it is best to try to cut your interest payments as much as possible so that more of what you pay goes towards reducing the debt. Can you balance transfer between your existing cards in the meantime? chech the credit card shuffle article:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1102335753,51771,
for info before you start!

I hope at least some of this is helpful.

mariannemarlow

in_despair wrote:

Hi Marieanne

Can I ask what the monthly payments will be on the DMP?

I am desperately trying to find out what is considered reasonable!
I do have my appt with the CCCS on Friday next week, but am worrying myself sick over it all.....

Jo
xx

Hiya


I am going to be paying £341 (as i am a temporary worker and the amount i earn goes up and down) and it's going to take 7 years.

don't worry about the appointment they are very nice people and not scary at all. they will take all essential payments into consideration before telling you what you need to pay. they wont give you an amount that is too hard for you to live on as there would be no point in that as you wouldn't be able to keep up the repayments.

im pretty sure that they will be able to help you.

marianne
x

maforduk

Hi in_despair
You could always try claming bankrupcy! But i'm not sure what this entails or how it effects furture circumstances!
All i can say is Budget food for shopping and public transport! Can you sell the car or sel anything on eBay that you don't need?

loubie_lou

You could always try claming bankrupcy!

No! No! No! No! This is the VERY last resort! She doesn't need this option hanging over her head when she is obviously upset enough by the whole situation already!!!!

In_despair, you have come to the right place. What I'm sure you don't need is the word 'bankruptcy' flying about inside your head!

Keep posting and i'm sure lots more advice will be handed out before your appointment next week!

Chin up girl!

in_despair_3

Thanks for all of your suggestions....

Bankrutcy is a route that I am not prepared to take. My husband is simply too ill to cope. Nor do I want the stigma that is attached to it.....
There is also the future to think of.... the house etc. I have considered selling the house to release the equity, and down-sizing, which although would be devastating emotionally, not the end of the world.... There is about £30k capital (or there would be by the time we had bought anything half decent, paid stamp duty etc) This would leave just the one loan, which we could (probably) just about manage.

Alternatively, if we propose this to the CCCS do you think it is an option? Having interest frozen on all of the accounts etc until we manage to move (house is not yet on the market, although I know that doesnt take very long.... it would just be a matter of selling it!)

Do you think it is reasonable to explain the circumstances, and offer £30k on £53k debts (which is probably what they would receive on an IVA) but offer nothing on a monthly basis? Has anyone ever heard of this?

Thanks for your opinions and help - talking about it has made me feel a little bit better!

save-alot

Hi In-despair

I feel for you with the debt on top of your other circumstances.

One thought would be to get professional help from organisations such as Citizens Advice

One organisation I know a lot about is Christians Against Poverty

http://www.capuk.org/

CAP visit you at home, so no issues with the children or getting to someplace and there are absolutely NO charges for the services.

Hope this helps

tattooed_lady

Hiya,

(((Hugs))) to you as you are having such a bad time. Definately call the free debt help charities eg Payplan, CCCS or National Debtline (there are links to them above). They are used to dealing with people with large debts and will advise you accordingly. You need some good, professional advice.

Take care x

in_despair_3

I have just called CAPUK and they are going to call me back with an appt - thank you for that advice.

in_despair_3

I just have so many regrets..... I could kick myself for ever allowing it to get like this.... what I need now is a way out that we can work towards....

Can someone please give me an honest answer and tell me what they think that the CCCS will suggest?

in_despair_3

Oh, and thanks for all of your advice... you have really kept me going throughout the day.....