Struggling with debt? Ask a debt advisor a question

southernbelle

Thanks Mat, will save it up.

StepChange_Pavan

Hi everyone

Our CCCS website and Debt Remedy (http://www.cccs.co.uk/ref/drcu) are undergoing some essential planned maintenance across tonight and tomorrow morning. We hope to have full service restored by 1pm tomorrow. In the meantime the CCCS MoneyAware blog (www.moneyaware.co.uk) is available to help you with your debt questions.

Thanks,
Pavan

bhoy1976

I've been looking at all sorts of ways to clear my debt outside my DMP. I don't have any assets to sell off to even help pay off some of that debt let alone the whole lot.

However, I did wonder how much my creditors would be likely to accept as full and final payment if I ever did get some money. And if they did not accept this as a final settlement, would I be obliged to then give that money anyway?

I have around £12K of debt across a few creditors, I just wish I had the savvy to work something out. The pressure can be quite unbearable sometimes.

HalfaSixpence_2

I've got a friend (I know that sounds like the classic cover story but in this case it really is a friend<g>) who is under a huge amount of strain because of debt. You would never know it to see the house etc and I only recently found out about it. She didn't tell me much in the way of detail but my heart did sink when she said that she hoped things would be better soon because she'd paid a debt management company quite a lot of money to sort something out. I didn't want to depress her more at the time by saying that I had heard that that was a bad idea, but yesterday I had a phonecall from her sounding very down. I'm seeing her soon, and I wondered what to suggest if she is going to want to talk about it. Once these companies have been paid, do they do the job or does it keep costing you more money? Should she go to one of the free advisory services to get advice on the advice, as it were? Any pointers would be good - I did talk about this site with her but she isn't very internet oriented.

Thanks

boogiequeenie

I was a debt collector for 14years. (im not anymore) so Ive seen (and helped) many people who are in debt.

My husband is at crisis point and Im now at the verge of writing to our creditors offering £1pm. He didn't get in to debt in the usual way.....y'know.. plasma TVs; head in sand; expensive holidays. His ex-wife suddenly left him and abducted his then 3month old son 300 miles away from home. The subsequent move and consequent unemployement got him into debt.

The point is we have one joint bank account that has an overdraftf £300 with Lloyds. we both bank with Lloyds. We both have single accounts and one joint account (this is hardly used for bills).

Ive heard of banks scabbing money from one account to pay off overdraft.

I know that my husband has to open another account but my question is.......Do I???

jazza6

I feel quite sick and suicidal to be honest - Haven't told my husband that I'm debt AGAIN to tune of £13k (approx). I lost my job which he obviously knows about. We have our own accounts and then a joint account where we put money in every month to pay for bills. Now I won't be putting money in as I will only have jobseekers allowance and this will have to pay for food. Unfortunately one of my loan's is with the same Bank. Can they take money from our joint account (in both our names) if I can't pay the loan? This is worrying me sick as my husband will be paying in just about all his salary to keep up with the household bills. The mortgage is in his name and I won't be able to pay anything towards my creditors Please help

showyouonly

ed hardy cap

System

bhoy1976 wrote: »

I've been looking at all sorts of ways to clear my debt outside my DMP. I don't have any assets to sell off to even help pay off some of that debt let alone the whole lot.

However, I did wonder how much my creditors would be likely to accept as full and final payment if I ever did get some money. And if they did not accept this as a final settlement, would I be obliged to then give that money anyway?

I have around £12K of debt across a few creditors, I just wish I had the savvy to work something out. The pressure can be quite unbearable sometimes.

Hi bhoy1976 and thanks for your post.

It would be impossible for us to say what your creditors would accept as full and final satisfaction. The only way to really find out is to make them an offer should you come into a lump sum.

If the money is from a third party or only available as one off offer it’s better to make this clear to the creditors.

I would only pay them the lump sum when you have written confirmation from them that it is in full and final satisfaction of the debt. You must then keep this paperwork as proof.

Without knowing your situation it might be worth speaking to us to see if you have covered every debt solution available to you.

If you can call our free helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

I hope this helps.

Kind regards,

Mat

System

HalfaSixpence wrote: »

I've got a friend (I know that sounds like the classic cover story but in this case it really is a friend<g>) who is under a huge amount of strain because of debt. You would never know it to see the house etc and I only recently found out about it. She didn't tell me much in the way of detail but my heart did sink when she said that she hoped things would be better soon because she'd paid a debt management company quite a lot of money to sort something out. I didn't want to depress her more at the time by saying that I had heard that that was a bad idea, but yesterday I had a phonecall from her sounding very down. I'm seeing her soon, and I wondered what to suggest if she is going to want to talk about it. Once these companies have been paid, do they do the job or does it keep costing you more money? Should she go to one of the free advisory services to get advice on the advice, as it were? Any pointers would be good - I did talk about this site with her but she isn't very internet oriented.

Thanks

Hi HalfaSixpence and thanks for your post.

All our advice is free, impartial and confidential and we offer the full range of debt solutions to our clients.

Whatever service your friend is paying for, more than likely we offer the same solution free of charge.

I’d recommend that you ask your friend to give us a call on our free helpline.

Our number is 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

I hope this helps.

Kind regards,

Mat

System

boogiequeenie wrote: »

I was a debt collector for 14years. (im not anymore) so Ive seen (and helped) many people who are in debt.

My husband is at crisis point and Im now at the verge of writing to our creditors offering £1pm. He didn't get in to debt in the usual way.....y'know.. plasma TVs; head in sand; expensive holidays. His ex-wife suddenly left him and abducted his then 3month old son 300 miles away from home. The subsequent move and consequent unemployement got him into debt.

The point is we have one joint bank account that has an overdraftf £300 with Lloyds. we both bank with Lloyds. We both have single accounts and one joint account (this is hardly used for bills).

Ive heard of banks scabbing money from one account to pay off overdraft.

I know that my husband has to open another account but my question is.......Do I???

Hi boogiequeenie and thanks for your message.

You are both jointly liable for the account with the overdraft. This would mean that both of you would need new basic accounts away from Lloyds.

Lloyds will hold you and your husband responsible for the overdrawn account.

If you need any further help with your husbands situations please call us on our free helpline or try our online solution Debt Remedy (http://www.cccs.co.uk/ref/drcu) to help you find a solution to your debt problem quickly.

I hope this helps.

Kind regards,

Mat