Help! Help! Help! DEBTS....

ashadar

Hi All,
I have just joined Martins website in hope I will get some information/advise on how to sort out my debts.

Here's my story:

- My Debts:
Catalogue - £791
Store Card - £955
Unsecured loan 1 - £2,800
Unsecured loan 2 - £4,373
Credit Card - £2,160
Car Hire - £6,554
Private loans - £1,200

Total owed : £18,833

- My situation:
I used ot earned about 27k including commission. I was then able to keep my payments up to date and everything was giong... well not great but manageble...
I lost my job in March.. (it was a volontury redundancy as the company wanted to get rid of me so i decided ot leave and at least take redundancy payment...)
I then looked for a job for 3 months and kept myself alive with redundancy money... (during this time i didnt pay any of my debts as I didnt know how soon i would find another job..!)
I finnaly found the job in May and now i've been here a little over a month... job is quite bad, but at least it is... I now earn 16k. Having said that I just got offered another position I'm due to start in August paying 21k.
At this point it looks like i may be able to get back on track? well you would think so:
1. Because I didnt make payments on my car I received a letter of termination of agreement and car repossession... I've contacted them and they told me to keep my car I had to make a payment of £882 on 30th June... I managed to (still not sure how) make an arrangement to pay them £600 on 30th and now i need to pay £200 by 13th July and remaining £82 + another paymet due on 31st July. Bare in mind that i only got paid £1200 this month and after paying rent + 600 and other things now i have no money left to make the 200 payment nor other bills as well... even if i could i dont want to take another loan as i will be then sinking even more.
2. My credit card is now £120 over the limit as they have charged me late payment fees,interest and other... I have no money to pay even the minimum payment this month so they will charg eme again missed payment fee, admin fee, interest etc (around £200) on top of what i already owe... sinking here dont know what to do!!!
3. Loan 1 - is with my bank and they take the money as soon as anything appears in my account so I dont have deafoults there...
4. Loan 2 - I managed to speak to them and reduced my payements from £211 to £90 pcm getting the worse deal ever over 5 years, though i had no choice...
5. The catalogue payments are overdue now 4 months and i have an immediate payment of £880 letter on my lap... Dont know what to do there either.
6. Store card: I was able to keep these payments up to date until last month and now i have a missed payment and other fees piling back onto the accoutn as well...

- What I've done already:

1 I've send letter to my bank requesting bank charges back... at the moment they are looking into this but the chances of me getting this money back is slim... they would have to pay me about £1200
2. I've send letters to all of my other creditors to request cancellation of PPI and refund of payments already paid as I have been miss sold the policies. The only one that came back positive at this moment is my store card and they've refunded my account with £200. Others Im still waiting on.
3. I also went ot CCCS website today to get some of their advise and they are now trying to help.

Apart from that I dont know what else I can do to survive next 3 months until i start earning good money agai. Things that do worry me most of all are :
-car - i worry they will take it away if i wont make the payment of 200 by 13th - i need my car to do my job!
- credit/store cards - at the moment they are lumping all their charges on my accounts maiking it even more impossible to repay... how can i stop them?

Please help... I dont know what else to do....:embarasse

Many Thanks

westiedog

Im

sure someone with knowledge with reply. Best of luck xxxxx

claire0788

Do you need the car ?

I googled for you - http://itsyourmoney.ie/index.jsp?pID=665&nID=771 - have a wee read of that, might help you.

If you dont then, according to that site, you give it back, they sell it and then you pay the difference of what would still be owed. Worth a shot ?

hypno06

Re the bank charges, head over to the bank charge reclaim board - I would be pretty sure that because you have lost your job and taken a big cut in income, you would count as being "in financial hardship" and the banks have to look at your claim before the court case goes through.

Have a read through that part of the site, because people have reported getting their charges back in quite a short amount of time, so you could get some money back there.

You will have black marks on your credit file now because of the missing payments etc - check out your credit file to make sure everything is correct.

Speak to CCCS or do their debt remedy online, they will talk you through your options - it is clear that the income is not going to cover the outgoings, even when you start the better job, so you must come to reasonable arrangements with your creditors in order to avoid problems going forward. Ring CCCS as soon as you can - they are free and not going to judge you - they are spoken of very highly here.