Worried

Scorchio

I owe around £24000 and have been struggling to make minimum payments. Have taken advice from a debt counselor who has written to creditors to give a figure that I can pay.

Was paid today and withdrew wages as advised as bank was likely to reclaim the money as I have an overdraft, am over my overdraft and two loans with them which I will not be making the minimum payment this month.

I have a citifinical loan which should be paid tomorrow - I have canceled the direct debit so that will not be paid.

I am just very worried, will debt collectors turn up at my door, will I be taken to court.....

Any advice really would be appreciated.

GeorgeUK

Hi Scorchio.

Was the debt counselor with one of the free debt charities or was it a fee paying company?

Make sure you set up a basic account with a bank you don't owe anything to so that you can get your wage paid into it.

If debt collectors turn up at your door, you don't need to let them in. They have the same legal powers as the paperboy - none. If they write threatening to send a debt collector, there are template letters here you can send them to stop this. If anyone shows up, just ask them to leave - if they don't they are trespassing.

You might get taken to court, but the judge would get you to pay as much as you can afford, which is what you are doing now anyway. That's quite a bit down the line so no need to fret about it.

Scorchio

Thank you for your reply.
It was through the local office of fair trading - free to use, confidential and have been wonderful.

Am trying to open another bank account - not sure yet of the bank I have applied to will open one for me, hopefully I'll find one that will.

I have asked for next months pay to be issued as a cheque.

If debt collectors turn up at your door, you don't need to let them in. They have the same legal powers as the paperboy - none. If they write threatening to send a debt collector, there are template letters here you can send them to stop this. If anyone shows up, just ask them to leave - if they don't they are trespassing.

Thank you for that - it is so good to get some reassurance. I am a bit of a wimp -would probably burst into tears and give them everything I own if they turned up - need to toughen up quickly I think!

Thank you again - hopefully I'll sleep better tonight.

GeorgeUK

Have you posted up a statement of affairs? We may be able to spot some areas where you could make savings and hopefully give you a little breathing space.
http://www.makesenseofcards.com/soacalc.html

As long as you aren't trying to get credit, you should be able to get a basic account. I think the post office and Co-op are okay for these - don't know if they allow DD & SO's but you should be able to get a basic account.