Struggling with debt? Ask a debt advisor a question

mum2one

CCCS_Pavan wrote: »

Hi again,

Just wanted to mention – if you’re already struggling, it may be best to look at your options now – it wouldn’t be a problem if you needed to review your situation in a few months as circumstances can change at any time.

Like I said before, just contact our Debt Remedy support team and they will be able to discuss this in more detail as they have access to all your information.

Kind regards,
Pavan

Thank you, I didn't realise that it would be possible to start then review after a time period, I thought Id be a pain, will get some figures sorted when all May statements come in and then jump across and ring for help, so who ever gets the short straw will need a lot of strong coffee and a brandy or 2!
Thank you again for everything x

StepChange_Pavan

The CCCS MoneyAware team are now out of the office until Tuesday 3rd May. Please accept our apologies for any delay in replying to your question.

In the meantime you can still get debt counselling through our online service Debt Remedy 24 hours a day.

Kind regards,
Pavan

MrGreen44

I am getting concerned about my credit card debt, been out of work for about six months now and started using credit card to just be able to live [car, food, bills]

Now in the process of giving up my rented place as I simply cannot afford to live here any more.

Looking to move somewhere else in the hope of finding work.

Need some options that will ease the payments in the short term to give a chance to get back on my feet.

Kev

mum2one

MrGreen44 wrote: »

I am getting concerned about my credit card debt, been out of work for about six months now and started using credit card to just be able to live [car, food, bills]

Now in the process of giving up my rented place as I simply cannot afford to live here any more.

Looking to move somewhere else in the hope of finding work.

Need some options that will ease the payments in the short term to give a chance to get back on my feet.

Kev

May be worth looking at CCCS website

www.cccs.co.uk. - and go for through all the options, it could be something easier as a debt management plan, - but have you thought of putting your SOA up and see if anyone can reduce your outgoings? x

MrGreen44

Will take a look at website, and of course read up debt advice on moneysavingexpert.

Thank you

Kev

geordie28

Hi

I was wondering if i could have some advice. my sister for the past 8-9 years has had serious debt trouble. i do not know the true extent of her debt so can only give an idea of what i know. when she was 18 she was getting credit cards and loans just to spend and she was going way ott. i think she had managed to accrue something like £16k in just over a year. she wasnt paying her bills either loans, credit cards or mobile phone bills. she has literally stuck her head in the sand. there were daily calls to my parents house which gradually ceased. for a while despite taking no action the mess seemed to go away. about 8 months ago she took out a wonga loan of £150 and i have discovered that she paid initially £30 back and and has paid nothing since. she says they havent been in touch and she cant find out how much she owes. looking at their website they have 4400% apr so my guess is she has managed to get another £3-4k in debt. despite this she does nothing about it. she seems to let it all go but i dont know how she sleeps. she works 16 hrs a week, lives with our parents with her 2 year old child. any money she gets is spent in the pub. im not sure if she drinks to hide her misery or just doesnt care less. im thinking about taking her to CAB but not sure if they can help. any advice?

thanks

simon

England_For_Ever

Hello there.

I was given a CCJ in 2004 (when I was out of the country looking for work) which should have expired by now. Does this mean they can come after me again or that the court 'protection' afforded by the judgement still apply until the balance is paid off? Will the loan to which the CCJ was attached become 'normal' after it has expired so that I can resolve with it myself without having to contact the court or will it remain in effect until the balance has been paid off even though the record has left my credit reference file?

Thanks in advance.

A.

Wannabedebtfreelad

Hi there,

just looking for some impartial advice, I currently owe about £10000 on credit cards and £6000 to a HSBC loan. I changed jobs last year and have until last week been on the equivalent of an apprentices wages meaning I have used all my savings to top up my bank account each month. I should now start to earn better money (qualified plumber now) but in the interim I have no savings left and money is extremely tight. We own our own house with a rather hefty mortgage from the heady days of self certification and the last resort is to sell the house to clear the debts. I hate the fact i pay so much interest on the two credit cards and have just realised that on my HSBC card I have been paying PPI for god knows how long, should I start a claim against them ? My wife will become a qualified social worker in a years time when we should both be bringing home a decent income but in the meantime how do I make ends meet ?
I have not missed any payments or got into any arrears but i need a manageable way of repaying this debt before I do start slipping into arrears.

Looking forward to some advice

Lad

Raquela

I am planning to enter into the equivalent of a self-administered DMP; i.e. I will be making pro rata payments of whatever money is available for debt payment on a percentage basis.

I also plan to scrimp and save/second job (which is typing) extra sums above my budget each month which I would like to 'snowball' rather than pro rata across all creditors.

I can either pay these extra amounts as and when they are earned, or save them up in a specific savings account until they are a bigger lump sum.

I know technically I should treat all creditors equally, in which case I should divide the extra amounts out equally, but I'd like the psychological boost from snowballing, and in time, my monthly payment would be enough to meet what the old minimum payments would have been, if that makes sense.

I guess my question is, is it okay to snowball; i.e, what would the repercussions be. Or is it only okay when you have a lump sum to pay one whole debt off (perhaps you were given money with the express instruction to use it pay that specific debt), which will in turn increase the payment available to the other creditors as part of the monthly agreed payment?

There are four debts total, representing 5%, 8%, 11% and 76%. Monthly payment would be about 42% of the current minimum payments initially. Two accounts are defaulted, two are in arrears.

unsure84

Hi there,

I am unsure of what to do I have been running from my debts for nearly 3 years noone knows where I am etc which I truly regret I was 22 when I started the borrowing and didn’t think of the long term of it all.
When I last knew, I had around a total of £30k in debts spread across different creditors and I just couldn’t afford to pay so I stopped as it meant I had spare cash.
I have no idea who owns the debts now or what to do as I have managed around 3 years without hearing anything, I am not on the electoral role and I do not wish to obtain any further credit.
My loan was originally declined however I worked at the bank so it got overturned by my boss? could that stand up as wrongly assessed lending?
In a way I would like to start to pay back what I owe as after all I did borrow the money, I was unemployed for around 7 months which triggered the problems as no creditors could do anything which is why I decided to leave it.

I had a loan of £18000 a CC for £2500 an overdraft of £2500 and £1200 and a sofa for £3500 which my ex girlfriend kindly left with! on top of that I owe BT around £350, 2 parking tickets that were £40 each and a recent debt of £800 to a friend which I can pay back in the timescale given.
I doubt any of these will be with the original debtors and will probably be a greater sum owed and I don’t know whether to continue running from it?
Would bankruptcy be an option?

I earn £20,000 per annum and bonus which is no fixed amount and have rent for £695 council tax of £80 water £30 Electric £30. mobile phone x 4 = £140 (long story) food for myself is £100 per month plus travel at £30 per month my girlfriend is due to move in when she gets a job here as I’ve moved to a new city for work so when she comes it will allow for a little more spare cash however I don’t know what to do.

I would really appreciate some sound advice, I have heard bad things about an IVA option so was thinking bankruptcy however I am unsure if I would be accepted for this as I have not co-operated or contacted ANY debtors.

I look forward to hearing some advice and hopefully start to rebuild the bridges I have broken and put my worry to rest.
Warm Regards
Unsure84