Help....my money stretch is gone in a flash

boot13t

Hello,

It's my first post and when I've faced up to my debt mare.....

A little background: between my partner and I we owe over 34K in unsecured debt (loans, credit cards, store cards etc). My partner earns 27K (1600 p/m) whilst my income is now zero thanks to the contribution based JSA coming to an end. Essentially we've met all payments to the creditors thus far but we have a shortfall of over £800 looming in March......time to deal with the reality of debt!

I have contacted Payplan for advice....

What do you reckon my chances are.....?

MummyOnAMission_2

Hi ya, just wanted to say welcome to the site and well done for making the first step. More people will come on soon to help but the best thing to do first is put on your Statement Of Affairs (SOA) and then everyone will be able to see if they can help you in any way with lots of money saving advice! Im sorry I dont know how to link the form but im sure sum1 will come and pop it on soon.
Im with CCCS at the moment rather than payplan but i have read good things about them so looks like you are doing the right thing.
Best thing to do is try not worry which is hard but there is always a solution and thats what payplan will help you with.
Sorry its not a great helpful reply but just wanted to say WELL DONE for posting and you are not alone.

boot13t

Well our first chat with Payplan went every well, we're awaiting documentation and lots of snash from the creditors in coming weeks!

If you guys have advice on the best way to deal with the initial month
or so before things kick off it would be appreciated. I am concerned on the best way to deal with the creditors asking for dosh etc.

Which bank is a cert to get an account right away as we have debt stuff with our current bank and need to pay the next pay cheque in?

Thanks,

Boot

chevalier

On the main site there is a bit about which banks are linked to each other.

personally i have heard good things about the natwest step account - basic bank account with now overdraft but will do DD and SO's

As regards the creditors. I would suggest writing to them saying you are taking financial advice from Payplan (and if you have a payplan number then include that too), and that you enclose a £1 as a token payment for this month, as you are in financial difficulties.

In the same letter you could also ask that all contact should be in writing and not the phone. Which might help.

Send the letters recorded delivery so that you know that they have been received.

Some creditors will be fine some will be sh*t. There is no knowing really. But setting up a new bank account is really important
good luck
chev