My SOA - bitter reading......

zarazara

Have you tried selling things on eBay? this can help eat away at the debt. Also a second job,perhaps evenings or weekends,this will produce extra money to pay the debt off.

zarazara

other things which can be done to reduce debt is to downsize the house, depends when you bought it,if it was ages ago it might be worth more than you paid for it. Also sell things you dont need,like sports equipment you havent used for ages.Some people have allsorts of things stored in their garage.
As I said before,no cards,no holidays,no extravagance and spend every spare £ saved at reducing the debt. Have you tried Citizens Advice?

pure_dead_dopey

Well done, make sure you go through it all carefully, its going to take us longer than you but we are now 2 payments to CCCS in and I'm sleeping better and we had money (real money not overdraft) in our account the day before payday, totally unheard of for the previous 20 odd years. So we will get there and so will you. Good luck

bertman

miss_missy wrote: »

hi
well done bertman im glad to see things are getting sorted for you
can i just ask did cccs say what happens about the fact you need to use a cc for work as if you go on a dmp you arent allowed any credit so what happens with regards to work just wondered
take care and keep us posted with how things go

Hi , I have to see what is the best way to go with this, I travel a lot with work so have to put fuel in the car and claim it back, this can be up to £600 a month, I also have to pay for hotels, meals etc and claim it back. I already stay in the cheapest B&B's possible as I hardly have any credit limit on the card I use and it gets paid off in full every month.

I rang the CCCS last night and went through all the details with them, I have to ring back in a couple of days to go through this in more depth in a 30 minute conversation.

Again - thank you all soooo much for help and advice, I really do appreciate it....:)

pure_dead_dopey

Bertman

Just a thought, alot of our debt was built up by using expenses as money. IE I claimed back expenses that I had paid for with a credit card and they paid into our current account, swallowed and gone!!. I am still on the road and currently now have a company credit card. Pay everything with this except fuel. No big bills on my credit card and nomoney simply disappearing into general expenditure. I asked for a company credit card and it was no problem. My expenses can be around £1000 per month so it was a huge amount to be paying out and loaning to the company for 3/4 weeks. Will do no harm to ask??

KPR11

pure_dead_dopey wrote: »

Bertman

Just a thought, alot of our debt was built up by using expenses as money. IE I claimed back expenses that I had paid for with a credit card and they paid into our current account, swallowed and gone!!QUOTE]

If your company does not do company credit cards then you can always ask them to pay the monies to the credit card as opposed to your current account (that is what i use to do before i got my corporate amex) that way you are paying your work expenses only on the cc.

bertman

pure_dead_dopey wrote: »

Bertman

Just a thought, alot of our debt was built up by using expenses as money. IE I claimed back expenses that I had paid for with a credit card and they paid into our current account, swallowed and gone!!. I am still on the road and currently now have a company credit card. Pay everything with this except fuel. No big bills on my credit card and nomoney simply disappearing into general expenditure. I asked for a company credit card and it was no problem. My expenses can be around £1000 per month so it was a huge amount to be paying out and loaning to the company for 3/4 weeks. Will do no harm to ask??

Hi, I can see how this could happen:o My company just raises a cheque though in the name of Barclaycard so it never goes to my bank account, they are pretty strict though on credit cards, only the top brass get one!!! There is no way though that I could sub upwards of £600+ a month though, my boss is aware though of my situation and has been pretty supportive so I will speak to him if we do go down the DMP route.

pure_dead_dopey

KPR11 wrote: »

pure_dead_dopey wrote: »

Bertman

Just a thought, alot of our debt was built up by using expenses as money. IE I claimed back expenses that I had paid for with a credit card and they paid into our current account, swallowed and gone!!QUOTE]

If your company does not do company credit cards then you can always ask them to pay the monies to the credit card as opposed to your current account (that is what i use to do before i got my corporate amex) that way you are paying your work expenses only on the cc.

Wish I had thought of that a few years ago:mad:
a well see the signature:o

bertman

Hey DDD, its easily done though, we have certainly come to realise the value of things though over the last 2 years, we have really struggled to make ends meet with the business going down the pan... At one time we really lived the high life without a carein the world - NOT any more though!!!


Still put some more things on Ebay tonight - my mission - sell enough to pay off the TV loan we have. I have made £50 in the last week so £550 to go!!!

bertman

I have had a call tonight from the Halifax, they have suggested that I send an SOA directly to them and they will look at what I can afford. Theirs is the only debt that is "behind".

Is it worth doing this or would they take more money than I could afford which would mean me not being able to pay other creditors?