Help! I want to be a DFW!

blairrowland

Hello everyone!

I am new to the forum and have debts like everyone on here and would appreciate some advice from somebody please!
I am currently swapping my debts from one 0% card to another so am nto doing too bad there, but it just seems to be taking forever!
I have already used the CCCS Remedy tool which helped to know what i should be paying. I have tried to contact a CCCS consellor on this site but i must be doing it wrong?!....HELP PLEASE SOMEBODY!!
I also have an overdraft with lloyds and would like to get rid of it as i am constantly overdrawn! Is it a good idea if i opened a new current account with a new bank to have my pay put into that and then pay off a certain amount each month to lloyds to pay my overdraft off? I think if i open a new account and i have my wages paid into that (with another bank) then i know where i am once i've paid off my bills and then can pay extra off my overdraft and other debts? Would this be a good idea?
Thanks to those who have replied already.
Any more advise is much appeciated. I dont know if i'm even on the right section of the site for this type of advise????..................
Thanks.

sammy115

Morning and welcome...What is the overdraft rate on your bank account. Does it depend on you paying x amount of £'s in per month.

You could open a new bank account or you could just reduce the amount of your overdraft by the amount you would have paid as a monthly payment, say £100. It really depends on how organised you are.

What you could also do is post a SOA - or statement of affairs....your incomings and outgoings. There is a tool at the top of this page to help with this. Also start to keep a spending diary. You need to know where your money is going...

fermi

If you want to send a message to the CCCS councillors, then their is a special account you need to PM. You can do that by clicking here:

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Have you posted a SOA?

blairrowland

Thanks both for that quick reply! Whats an SOA??

It would be a good idea to reduce my overdraft i suppose, but i've heard stories from people with banks doing things without people knowing and although i know the overdraft is not my money, i dont want Lloyds to do something nasty becasue i'm not paying my o.d. off!!

S.G.

fermi

SOA = Statement Of Affairs

Basically an income and expenditure breakdown, and a summary of your debts.

It allows people to make suggestions as to where you can make savings, and pay off your debts in a faster way.

See: Help for First Time Posters & SOA Calculator

and a direct link to the online SOA generator: http://www.makesenseofcards.com/soacalc.html

sammy115

An SOA is a statement of affairs..you list all your monthly income and expenditure along with all your debts the APR and min payments (include your overdraft) we then rip it to shreds and show you the way to go...:rotfl: there is a tool to do it at the top of the page.

Banks have been known to do nasty things when people try to reclaim bank charges or the income isn't coming in as it used to.

Pollycat

blairrowland wrote: »

Thanks both for that quick reply! Whats an SOA??

Hi
SOA = Statement of Affairs

THe link below will give you a format that will make sure that nothing is missed out of your income and outgoings.
People can then give you advice on where you can reduc e your costs.

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

Regards

david_hellier

sammy115 wrote: »

Morning and welcome...What is the overdraft rate on your bank account. Does it depend on you paying x amount of £'s in per month.

You could open a new bank account or you could just reduce the amount of your overdraft by the amount you would have paid as a monthly payment, say £100. It really depends on how organised you are.

What you could also do is post a SOA - or statement of affairs....your incomings and outgoings. There is a tool at the top of this page to help with this. Also start to keep a spending diary. You need to know where your money is going...

Another way of using a spending diary is to allocate a weekly amount to yourself per week, from your budget after all essentials have been deducted. Using receipts, deduct as you spend through the week. Try to get to the end of the week leaving some over to carry forward to the next week. This has the effect of keeping your overdraft down and avoids overspend.