Struggling with debt? Ask a debt advisor a question

kefalos10

Thanks for the reply Mat. I'll try and find the bottle to ring tomorrow

StepChange_Pavan

michelle45 wrote: »

Hi
Just a bit of advice please. I am about to start a DMP, when my statements have all arrived, however, I have sweet talked my boss into letting me have overtime for the next couple of months. Which, should work out after tax etc about 200.00 per month.

Should I save it up and pay in a lump sum or pay as and when I get it. Doesnt seem much monthly.

Michelle

Hi Michelle,

As it’s overtime and not guaranteed we don’t usually recommend including it in your budget. Like you say, it could be a better option to save it and offer lump sums later on.

If you need to discuss this in more detail or want to make any changes to your budget just give us a call.

Kind regards,
Pavan

mum2one

Sorry to ask another question, just that wondering what income is included for soa purposes.

I'm wondering in terms of
Income Support (with and without disability premium)
Child Benefit
Child Tax Credit
DLA

Cheers x

StepChange_Pavan

mum2one wrote: »

Sorry to ask another question, just that wondering what income is included for soa purposes.

I'm wondering in terms of
Income Support (with and without disability premium)
Child Benefit
Child Tax Credit
DLA

Cheers x

Hi mum2one,

We generally advise that you include all your income but also include all the expenditure that relates to it. For example if you receive DLA and you have problems in getting around, you would include the outgoings for taxi fares etc in your expenditure.

I hope that makes sense!

Kind regards,
Pavan

mum2one

CCCS_Pavan wrote: »

Hi mum2one,

We generally advise that you include all your income but also include all the expenditure that relates to it. For example if you receive DLA and you have problems in getting around, you would include the outgoings for taxi fares etc in your expenditure.

I hope that makes sense!

Kind regards,
Pavan

Thats brilliant, thank you, still in toe dipping stage!!

Cheers x

1ceiwasafool

Hi,
I have a very simple question really. My situation has changed massively in the last few months. I was in a good job earning good money and had debts on credit cards as well as an unsecured loan to that effect as well.

I have since then lost my job and am currently working part time whilst I train to be a teacher which will take a few years.

I have approx £13k as a loan
and a further £7k on credit cards.

I am considering DMP, however do I need to show just my income or the household income? My wife does not know the magnitude of what I had on credit cards and this debt is actually nothing to do with her.

Please advise, as i do not want my situation to get so out of control.

rubyjam

Today I finally took my first steps towards sorting out my debts and completed the online dept remedy questionaire on CCCS with the intention of setting up a DMP but now I'm really worried. The advice booklet they have emailed me says the length of time it will take to pay off my debts is not realistic - help!! what does this mean??? I personally don't care how long it takes, I presume they mean the credit card/loan companies?

mum2one

rubyjam wrote: »

Today I finally took my first steps towards sorting out my debts and completed the online dept remedy questionaire on CCCS with the intention of setting up a DMP but now I'm really worried. The advice booklet they have emailed me says the length of time it will take to pay off my debts is not realistic - help!! what does this mean??? I personally don't care how long it takes, I presume they mean the credit card/loan companies?

well done for taking the first step, its the hardest, but be a weight off your shoulders, I can only guess that the calculation would be based on a general interest rate, but if your not sure give cccs a ring, and there be able to advice you further from there. x

Comstock

Advice about negotiating with the Student Loans Company- repayment plan.

I've just had two separate letters from the Student Loans Company, demanding a total of £1728 in repayments.

This breaks down as follows

Overpaid Grant £969

Overpaid Loan £759

I'm not sure if these are a single debt or two separate ones, but either way I'm going to have to repay them and I'm going to need to set up a payment plan and I'm currently unemployed and recieving £67.50 a week JSA.

Any advice on how to open negotations and what figure they are likely to accept? I'm willing to pay more when I find a job, but money is obviously really tight right now and this has come as a shock (although it seems to be correct). I'm not disputing this debt but I can't afford to pay very much.

shrimper37

Hi all, I have a question....I have been approached by a company called compass debt counsellors. They say they can see my credit for the past 5 years and can see I owe a lot, £17,000 in fact via a loan and credit cards. They say they can approach all my creditors, do a deal to get my debts reduced, interest stopped etc and give me one monthly payment of about £160 a month (secured on my house) over a couple of years and then I'm debt free. My credit rating will dip for a couple of years apparently but once I'm debt free it will go up again. If this is true then it's a very good deal as I am currently paying £500 a month on the loan and c/c's. This company says that the debt council of the UK has been set up and this is where the money come from to help out. The creditors also pay for the privelige of getting their money back quickly, even at a reduced amount.

Could anyone advise if this is all above board and as good as it seems or it is a big con? Has money saving expert got a template so I can do this myself?


Help would be most appreciated.