Oh my, how much do I owe

Tixy

Can your child get a small part time job to help pay towards their own mobile bill? or at least save you having to pay out little extras? They also might be interested in joining a couple of online survey sites which specifically are interested in teenagers opinions, and pay for those opinions in vouchers.

What are their plans when they finish school? are they going into further education? and will you get any further benefits if they do or will they be entitled to EMA?

Hopefully you will feel much better once you have spoken to CCCS. In the meantime if it were me I would look to see if you can make a start on reducing your grocery spend a bit. The oldstyle board here on MSE has load of tips for eating cheaply but still eating healthy filling foods. £80per person per month should be easily do-able with some planning and a bit of switching the sorts of food you buy.

Good luck.

WASHER

FlipsLDC wrote: »

Yeah Washer thats the one, Its a great service we have.:)

You don't live too far from me then (approx 30 miles). I heard Karoo are terrible, I cannot understand how the competition and mergers commission haven't done something about this yet.

dancingfairy

Just to add to what others have said about changing bank account to one you don't owe money to - you might want to do this pretty sharpish- as some banks can and will take money out of your current account to pay off their credit cards etc and not leave you any money to live on
That's why a couple of people have mentioned it.
df

FlipsLDC

Thanks all, quick question regarding changing of banks, I have debts with Halifax who are currently my bank as well. Ive been advised to change banks. I have an account with LLoyds but as they are now part of the same group, can they(lloyds) if I get my wages paid in to them remove the money to pay for the halifax debt? Hope that makes sense

Tixy

Its generally advised to use an account which is not associated with any banks you owe debts to. I'm not totally sure if Lloyds would be able to at the moment but to err on the side of caution I would go elsewhere, if you are struggling to find a group you are not associated with then co-op might be suitable.

Happytogetdebtfree

All the best with the dfw journey look forward to reading your progress :-)

FlipsLDC

Hi All, quick question, Im currently working with the CCCs in order to control these debts, but im away from home at the mo so cannot speak to them, Ive just realised that I currently have a debt with moorcroft that I forgot to clarify with CCCs, can anyone advise if this would be classed as a priority debt or to be added to the list of creditors. Im about to submit their online debt remedy to progress this. Also with my token payment letter do I enclose a Income/expenditure form. I can afford to pay more then the £1/£5 mentioned, would this make a difference. As always any advice greatly received.

immoral_angeluk

Based on having £1114 available (according to your SOA) in which to make repayments to your debt, you would be able to repay £13368 a year. Therefore it would take you about 9 and a half years to repay the whole amount at that rate. This is A) presuming that all creditors would accept pro rata payments would freeze interest and charges C) would continue to agree for 9 and a half years (unlikely).

With that level of disposable income prior to debt repayments I think you would be better looking at an IVA if I'm honest. This would protect your home unlike bankruptcy although the value of any equity may be used to repay the creditors. But, at the end of 5 or 6 years the remaining debt is written off. This also prevents any further action so long as you keep to the plan, and all debts are frozen, so can't accrue further interest and charges. 75% of the creditors (by value) have to agree but I think that would be a more realistic option compared to pro rata payments which you could be paying for decades.

FlipsLDC

Thanks Immoral, I was considering IVA but ive read that somewhere that the whole debt needed to be over 10 years on a dmp or it would be rejected. So i thought id start on the DMP, get a reaction from my creditors cos I doubt all would freeze interest and charges for the full duration. Is that not the case?, also most of our debt is with the halifax does anyone know if they are known for accepting?

FlipsLDC

Evening all, Can anyone advise with regards to the moorcroft query + if Halifax are likely to accept a IVA

Thanks all in advance