Dont know were to start - help!!

Cleosmum

I would look at sorting out your finances, then you wont have to default on the cards. If you cut back you will be able to manage

Cleosmum

Hows your credit score? Could you 0% balance transfer your cards?

Blue11_2

Cleosmum wrote: »

Hows your credit score? Could you 0% balance transfer your cards?

I have tried but keep getting knocked back. I have my credit file and i have a few late payments on the cards so presumably this is why.

What is the procedure if i just stop paying?

Can they come after my house?

These are unsecured debts so is it straight to CCJ's?

Hey_Dude

I don't know Dude.

Lots of MSErs taking the time to give you good advice, is any of it sinking in because you keep repeating the same question about defaulting?

I know it's hard but in the long run if you can now, today, tighten your belt and start to pay off your debt you will - in years to come - look back at where you are now and feel some pride in what you've achieved.

But only you can make it happen - and want it to happen.

Best of luck,

Duder

Blue11_2

Hey_Dude wrote: »

I don't know Dude.

Lots of MSErs taking the time to give you good advice, is any of it sinking in because you keep repeating the same question about defaulting?

I know it's hard but in the long run if you can now, today, tighten your belt and start to pay off your debt you will - in years to come - look back at where you are now and feel some pride in what you've achieved.

But only you can make it happen - and want it to happen.

Best of luck,

Duder

I probably do keep repeating myself Duder, sorry

the default thing keeps coming up because the credit cards were used in a previous business and not a penny has been spent on my personal usage, if they had i would accept a responsibility for it, so this is why it really gets up my nose!
I am listening to the advice which is good and i appreciate it honestly but can you understand were i am coming from?

Hippychick

It is probably worth going to the citizens advice bureau, they can help you sort out a debt management plan which is realistic for your circumstances.

Lensman_2

If you default (based on personal experience) the following happens:
1. Your ability to get credit of any reliable and reasonably priced type becomes zero.
2. Your account gets passed to a DCA. Some of which can be really nasty.
3. You have taken step 2 on a journey which sees a charging order put on your house.

I would give CCCS or NDL a ring... It is a serious step.

Cleosmum

You could default, but you will still be chased, and you will still have to pay, and you will have totally ruined your credit file. What happens when you want to go for a new mortgage? Or get a better mortgage deal? You wont get one, you could be really stuck if your mortgage payment rises. As much as it sucks, you really do need to face up to the situation and try and sort it out, keep your head above water. If you think its stressful now, just wait for the letters, phone calls, CCJs etc.

Blue11_2

thank you very much Lensman, that is what i needed to know, step 3 has made my mind up! I will give PayPlan a call in the morning along with the 2 you have mentioned and then put into practice all the advice i have been given this evening..... cheers

Blue11_2

Cleosmum wrote: »

You could default, but you will still be chased, and you will still have to pay, and you will have totally ruined your credit file. What happens when you want to go for a new mortgage? Or get a better mortgage deal? You wont get one, you could be really stuck if your mortgage payment rises. As much as it sucks, you really do need to face up to the situation and try and sort it out, keep your head above water. If you think its stressful now, just wait for the letters, phone calls, CCJs etc.

Point taken Cleosmum action will be taken tomorrow.

Have you had any experience of negotiating with credit card companies to reduce the monthly amount due and freezing the interest?
Do you recon it would be worth speaking to them?