All I need is 10k!

WASHER

The CCCS are a debt charity who can offer you advice on a DMP (debt management plan) which basically means they try and freeze the interest and offer the creditor a figure you can afford to repay.

Google CCCS, a wealth of knowledge on that website. DO NOT USE ANY COMPANY WHO WILL CHARGE YOU A FEE.

A debt management plan is very different to an IVA (IVA are not suited to most people, and since you have equity I wouldn't recommend it).

Why could you not sell the house to clear off the debt, and then rent if you need to, you can not be making enough income from the BTL otherwise you wouldn't have the debt if you see what I mean in a non judgemental way.

Offering creditors token payments will affect your credit rating, and this in turn could affect your chance to get a good mortgage deal when your current one ends.

Personally, I would speak to the CCCS, and let them advise you, btw, you need to have your partner on board, because if you go down the token payment route, you will initally receive many phonecalls from the creditors, these will stop after a while, but you must be prepared for this,and so should your OH.

Tsia

well I called vanquis today.. started payment protection plan for £11 a month and then cos I am out of work, on maternity can have the account, charges and intrest frozen. And just to update or request again every three months for a max of 2 years. I owe them £850 as of today. £100 over the credit limit cos they slapped on charges.
They have put a pending status on my account and giving me two weeks to return proof I am on mataernity.
Ive snapped the card.. and will concentrate paying that off first cos its the highest intrest rate.
I am making money with my rental place.. I am just a spender and crap with money. Plus I dont get any help- never had done. OH didnt pay one penny for baby stuff for the first 4 months and I had bought everything in preparation. But I bought second hand and stuff where I could. I am not an idiot in that sense. I didnt go out slam the card with new stuff for baby- no way.
But other stuff comes up all at the same time, like my car needed fixing to get through mot etc etc..
I would be a fool to sell my house -simple.. so its not gonna happen. I presume IVA stick a charging order on your property then?
Will call Capital one and see if they have a similar thing I found out that vanquis did for me today.
Also waiting for a call from barclays to see if they can help in any way.

Having a tummy tuck done on nhs tomorrow I have been waiting a whole year for so wont be able to respond for a few days now.
Thanks to all that have commented so far.. even the sarcastic ones.. I like watching peasants on J Kyle! lol

Tsia

thanks washer..
.. took your advice and went through CCCS. my three month agreement on freezing is coming to an end with vanquis.. the others are still no way near any smaller.. I just pay these min payments and the balances dont come down at all. I just go around in circles!
I spoke to a debt advisory line and they wanted £35 a month to sort this and get me free of debt over 4 years and 7 months.. but its worked out that i will have been paying them £2k roughly for the priviledge!
So now doing it through CCCS.. and the debts will be cleared in half the time apparently.
just left a message with debt advisory line saying i dont wish to go ahead... hes not gonna be happy!

My circumstances havent changed so hopefully I can get this sorted out now.

Tixy

Hope you get things sorted and your DMP goes well, certainly a good idea to be using CCCS.

Did your op go well?

Fiddlestick

Tsia wrote: »

Plus I dont get any help- never had done. OH didnt pay one penny for baby stuff for the first 4 months and I had bought everything in preparation. But I bought second hand and stuff where I could. I am not an idiot in that sense.

I'm sorry but your so-called "partner" is taking you for a ride here.

Why aren't you making him help with all this?

Tsia

things have turned around on the partner front. he lets us live at his for rent free then i contribute where i can towards utilities. also he gives me £150 per month. but hes vey singular when it comes to money.. always has been. And I have always been very independant.


My operation went well. tummy tuck wound still very swollen but all good!
Thanks for asking.

Seeing the doctor on tuesday.. so depressed about all of this but it comes and goes too quickly. I think its summink more than depresseion and will be requesting referrals to be assessed.. just to make sure I am ok.. cos they way I feel its like I am balancing on the edge of the cliff.. and any moment I could take a step off.
Hopefully seeing someone about how I feel will help put things into perspective.

jwil

I hope you manage to get things sorted Tsia. Do you have a local Freecycle/Freegle group? If so, you should easily be able to get clothes and things for the baby on there, save you having to buy anything. That might help free up a little bit of cash at times.

Tsia

I have started another thread as there has been a little change in my circumstances now!