Scared and Clueless! Please Help!

owessomuch

Hi, I hope anyone can help.

I've been a member of MSE for some time now after my debts hitting £50k, but with the help of this web site I have now got this down to £20k.

However things have gone really bad, i left my job due to health reasons to start a new job and that has now fallen through. I am claiming JSA and housing benefit but this only covers my rent and only just my utility bills. I still owe HSBC a bank loan, Barclaycard and a grattan. Last month was the first time I've not been able to make a payment and I called them all to make them aware of my new situation but the second lot of bills are due now and it's really starting to scare me as I don't have a penny sprae to even make them a small offer.

My loan is £340/month, Barclaycard is £175/month and Grattan £150/month.

What should I do?

WASHER

You must try and pay at least a £1 token payment to these creditors, letters are available on this board to help you with that. Easier said than done if you are really struggling.

Can you make an appointment with the CAB, I'm sure they will help you.

Is the loan secured? Do you own your own home?

RAS

Hi

Where do you have your bank account. it is essentialthat you get your benfits paid into an account that it not related to HSBC or Barclays.

Numpty_Monkey

Hi
You need to send them a letter offering token payments
http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6
use the template letter from there
You'll need to do an SOA
They'll send you an SOA form to fill in
Remember they can't have what you ain't got

debtdesperado

Explain though that it's temporary until you find a job and ask them what the options are, given that it's temporary. Don't start going down the DMP etc route until you have to.

I was in the same situation when I was out of work and agreed with all of my creditors that I could pay a low amount each month for 3 months, and then we would review the situation. In the end I needed to extend it for another month until I got work. Your account will be in arrears but it stops anything drastic happening to your credit rating. Once you get work, you start the normal repayments and then start paying off the arrears. No one said it was an easy route!

Remember that you aren't alone, loads of people are out of work, so view it as a temporary hiatus rather than a headlong crash into bankruptcy and I found everyone tough but fairly sympathetic.

owessomuch

Thank you all,

I'm not a home owner and I am getting housing benefit that covers nearly my rent. It is just a temporary blib but not that many jobs going so i think thats whats scaring me.

Thank you for your kind words.

I have only the one bank account with HSBC who I also owe the loan to so I was worried that they would take the JSA that gets paid in to cover the loan, do you know if they can do this?

I will get back on the phone to all of them today and explain again.

Can anyone tell me if there is anything I can do to also freeze the interest while this is going on?

Numpty_Monkey

Yes and no to the useing your benefits to pay your , they shouldn't , but sometimes do:mad:
good point by RAS:T

Id suggest doing it in writing, a phone call is worth the paper its written on

use the sample letters on the National debt line link I posted

BringtheStoneshome

My advice is to follow what people are saying on here and then get back to the real solution which is making sure your health is OK and you can get working again. Health is important, money is not. If you don't have any they can do what they like but they can't shake it out of you. Don't let them get to you.

Good luck

BTSH