debt - urgent advice needed

bob5

Hello

I while back i posted details on here of my deailed debts. But now i am really struggling need some help asap.

I have manage to sort out a payment plan with 3 of my creitors but i have the following that are now issuing me with default notice and i have no money to pay them.

One requires immediate payment of 232.50
Another i have sent a financial for too but i requesting 700.00 immediatley
The last one i have to pay Arrears and overlimit amount by 12 Oct = 2,500 in total.

What shall i do?

miss_spooky

Ho Bob5,
Have you spoken to any of the debt charities or did you set up your own DMP? There are some templates of letters around of token paymetns etc, you could amend them to what you are offering. Did you do pro rota paymetns or just paid what the companies wanted?

In the meantime, you could write to these three and say that you are seekinghelp & that you will be in touch shortly. The CAB letters also asks them to hold any interest etc, you could try this and see what they say. Most companies seem to back of a bit if they know you are getting help.

MS

bob5

Hi

With the 3 I have arranged my own dmp with them and am paying what i can afford, they have frozen interest etc.

with the others they will not budge espcially the one with Triton services. who i have written too with a finacial statement. Egg say got to a dmp they willnot arrange anything. First direct just spoke to them and i have until 30th sept to pay now...which i will try and do.

RAS

bob5 wrote: »

Hello

I while back i posted details on here of my deailed debts. But now i am really struggling need some help asap.

I have manage to sort out a payment plan with 3 of my creitors but i have the following that are now issuing me with default notice and i have no money to pay them.

One requires immediate payment of 232.50
Another i have sent a financial for too but i requesting 700.00 immediatley
The last one i have to pay Arrears and overlimit amount by 12 Oct = 2,500 in total.

What shall i do?

Bob

This is just part of the formal process the creditors have to complete before they are allowed regisiter a default against your account. They do not actually expect you to cough this money up.

What you do need to do is check whether the default letter is legally complaint.

bob5

RAS wrote: »

Bob

This is just part of the formal process the creditors have to complete before they are allowed regisiter a default against your account. They do not actually expect you to cough this money up.

What you do need to do is check whether the default letter is legally complaint.

Hi Ras

Sorry not sure what u mean if the default is legally compliant. how can i tell?

gfplux

hello bob5
Are you now only spending what you can afford. I ask as while you handle the problems are you getting others because you are overspending.

Make out your SOA (link - http://www.makesenseofcards.com/soacalc.html ) This will automatically calculate the numbers. It can be saved (see the help) and you can change it every day if you want.
When making out your SOA try not to guess at the figures, dig out the paperwork! However remember a partial completed one is better than none. It is in fact one of the most IMPORTANT things you will ever do to start on the road to recovery. If you want a lot of help on this forum, posting your SOA is the first and most important step. After it is done it is very easy to keep it up to date. In my opinion everyone should have an up to date SOA even if you have little or no debt. It is a great tool to manage your life with.
If you post it on the forum answer the obvious questions before they are asked so you get immediate feedback, such as :-
If there is “other” Income explain what it is
Mortgage – interest only or not.
What is the age of any children.
Council tax is it over 10 or 12 months.
Electricity and gas any arrears.
Water rates meter yes or no.
Mobiles, how many and when are the contracts up for renewal.
If no contents insurance is it include with buildings insurance.
If pets cost money, what are they.
House or flat value, has it been valued by an Estate Agent and when.
The more that can explain about the financial figures and circumstances the quicker the post will get advise rather than lots of questions.
When you have posted it and it does not look right or you want to change it, do so and repost it.