Noob with a few questions

joonapie

Hey,
My names mark, im 27 and currently broke as a joke :jthats my life story out the way. I have a loan im struggling to pay and I had a catalouge debt that got sold twice and is currently with a company called cccscollect.co.uk my loan is with Beneficial finance, Im currently with a debt management plan It was with Debt Care but they went into liquidation so im currently setting up with Smooth Financial.

Its £85 a month same as with DC but my 2 year old son is now going to day care (im totaly in the wrong job btw!!) which is really taking its toll on the cash flow my list of out goings is endless. I could give you the massive list but I doubt you would have time to read it all. I cant get an IVA due to not being in enough debt, I dont know what to do ive given up smoking I sold my car and now ride a 50cc moped, me and my partner never go out. I just feel so depresed and low its taking its toll on our relationship. she is in more debt then me so what little I have left goes to her bills. We havent even brought new clothes for nearly 6 months.

I find it dificult to discuss with my partner as you can probably tell as I have filled your screens with some of my feelings and belive me I feel like crying 24/7.
Any advise would be greatfuly recived
Mark

KPR11

Hi Mark,

Well done on taking your first step towards DFW.

From what I have on here, you are better off setting up your DMP with a charity like CCCS or Payplan (I am led to believe that they are free and a lot better).

You might be able to find more information on here: DMP Mutual Support Thread (Part 6)

I would suggest you post a statement of affairs (SOA) where people on here might be able to guide you on any further cuts if possible (well done on taking steps to reduce your debt and giving up smoking). You can find the SOA calculator and helpful tips on here: Help for First Time Posters & SOA Calculator

Good luck

KPR

joonapie

Thanks for the links
Gave me a lot to think about i just checked the cccs one after filling in the paper work it told me to make a seroious offer of £1 to my debtors lol
Such a stupid ammount im in debt for but damn once it gets you it dont let you go

KPR11

Not a problem at all.

Forgot to ask whether you are claiming all the benefits you are entitled to claim (not an expert as I am a long way away from having a little one myself) but read that this is a decent site to find out: www.entitledto.co.uk/

If you have any more questions just fire away. I am sure someone or the other will be able to help you.

Good luck with the SOA, a good one can take some to put together and you would rather get it right as it is a real eye opener and can help loads (it certainly has helped me).

TurnaroundSue

Hi and welcome to the boards!:hello: There is loads of useful advice, help and support here and you are amongst likeminded people who will not judge you for the financial position you find yourself in. We will all try and help you find the best possible solution and help you nip and tuck here and there and save you money on your monthly outgoings. Like KPR11 has said, post your SOA here and you will be amazed at the help you will get.

Is your OH on board with her debt also? Does she work? Could you look for another job which pays better or even get a second job? Have you ebayed everything that is not nailed down? Anyway, that is enough to be going on with for now.

Keep posting and remember that you have made a massive step by joining the wonderful world of the DFWs.:j

katsu

Don't go with a fee paying DMP company. Check out CCCS (not the company you are paying), Payplan or Citizens Advice. There is advice on them on here.

Good luck.

crapwithcash82

Hello, just wanted to say hello and welcome - this is a great place to come for inspiration and advice. I am the same age as you and have a daughter who is coming up for three, so I know what you mean about childcare costs!!

As turnaroundsue has mentioned, have you tried selling on ebay? Have a quick look around your house and anything that isn't used or required - stick on ebay. It will amaze you what people will buy and every little helps towards the debts.

Also, definately avoid the debt management companies that charge you - I made the mistake of going with one who ended up making me dafault on accounts and charged me £50 per month for their "services", I now pay all my creditors directly via internet banking and am in much more control.

Good Luck with your debt free journey, you've come to the right place!