Struggling with debt? Ask a debt advisor a question

laurensmum_2

Hi I have several debts with various companies. Now and again I get letters saying if I pay back so much of the debt they will wipe the rest. The amount is always still out of my depth but I have been told they are not allowed to contact me this way with these offers and that there is a template/form I can fill in, send it off to them and they have to clear the debt or wipe it off. Has anyone heard of this form or if it's true? I don't believe it myself as it sounds too good to be true but worth asking the question just in case...... Thanks

Kate_a_2

This asking for help business is very new to me so please bear with me.

My OH and I have racked up a load of debt:

Credit Cards - £25k
Loan - £14k remaining
Overdrafts - £4k

Total = £43k approx

We have stopped spending and now control our budget well however we only just manage the minimal payments on the above and we really want to draw aline under it all and start afresh as we just aren't really paying it off.

We are homeowners with excellent credit ratings however when I've tried to get a personal loan I can't get one due to using so much of my available credit.

How can I go about sorting this out so that I can have manageable monthly payments and get the debt paid off?

StepChange_Pavan

frankss wrote: »

hi,

The issue I have is I owe probably around £9000 to credit cards, I don't earn much more than minimum wage, but make at least the minimum payment every month sometimes I scrape a couple pound over. however the debt level is never going down, I don't use the cards now except in a very rare emergency I think it was once in the last 12 months. In the past when I've applied for a loan to clear them and pay them off i've been unsuccessful, now I'm in a position where I want to get a place with my girlfriend and start a family with her but want to get rid of this debt that plays on my mind constantly

Hi franks and thank you for your post.

We would need to look at you situation in more detail to see what your options are. It seems as though you’re able to meet your minimum payments at the moment, but if you feel as though you’re struggling, we can look at your circumstances as a whole and discuss the solutions that are available to you.

If you do move in with your girlfriend, we can re assess your budget at that stage as it’s likely that this will change.

I’d recommend that you call our free helpline to speak with one of our counsellors. You can call us on 0800 138 1111 and we’re open Monday to Friday 8am - 8pm.

I hope this helps.

Kind regards,
Pavan

kipskabin

Hi,
I've just signed up with CCCS and I've printed off several copies of the template letter to send to my creditors. Unfortunately I didn't print enough off and I can't access my account at the moment as it's being assessed. Does anyone have a copy of it please?
Thanks x

StepChange_Pavan

laurensmum wrote: »

Hi I have several debts with various companies. Now and again I get letters saying if I pay back so much of the debt they will wipe the rest. The amount is always still out of my depth but I have been told they are not allowed to contact me this way with these offers and that there is a template/form I can fill in, send it off to them and they have to clear the debt or wipe it off. Has anyone heard of this form or if it's true? I don't believe it myself as it sounds too good to be true but worth asking the question just in case...... Thanks

Hi laurensmum and thank for your post.

If it sounds too good to be true, it usually is. I think you may have this idea mixed up with your debts becoming unenforceable if they can’t provide the appropriate paperwork.

Your creditors are within their rights to offer settlement figures and they’re not doing anything wrong by sending you these.

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

Kate_a wrote: »

This asking for help business is very new to me so please bear with me.

My OH and I have racked up a load of debt:

Credit Cards - £25k
Loan - £14k remaining
Overdrafts - £4k

Total = £43k approx

We have stopped spending and now control our budget well however we only just manage the minimal payments on the above and we really want to draw aline under it all and start afresh as we just aren't really paying it off.

We are homeowners with excellent credit ratings however when I've tried to get a personal loan I can't get one due to using so much of my available credit.

How can I go about sorting this out so that I can have manageable monthly payments and get the debt paid off?

Hi kate_a and thanks for your post.

We would need to look at your situation as a whole to be able to advise you on your options.

We don’t usually recommend consolidating debts as it can make your situation worse in the long term.

I’d recommend that you visit our online debt advice service Debt Remedy (http://www.cccs.co.uk/debtremedy?WT_mc_id=900001) to help you find a solution to your debt problem quickly. You can do this anonymously and it’s completely free.

Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.

To help you fill in the form, it’s best to gather together information about:
• Your income
• Your expenditure
• The creditors you owe money to

You’ll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.

If you’re not confident with computers or would like to speak to an advisor then you can ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

Kind regards,
Pavan

StepChange_Pavan

kipskabin wrote: »

Hi,
I've just signed up with CCCS and I've printed off several copies of the template letter to send to my creditors. Unfortunately I didn't print enough off and I can't access my account at the moment as it's being assessed. Does anyone have a copy of it please?
Thanks x

Hi kipskabin,

I’m afraid I can’t send you one on here. I’d recommend that you give us a call so we can send you some more through the post or photocopy the ones you have.

If you call us they may be able to activate your account straightaway.

I hope this helps.

Kind regards,
Pavan

Kaster_2

Hi there. I am looking into apply for a DRO, I have seen that the Official Receiver do some checks externally, can you tell me what these are please?

I want to see who exactly it is they will be contacting to verify my info.

Viviana_2

I want to transfer my debt to a new card as suggested but although my bank is in UK I live abroad and don't seem to find a card that will accept my application as they only want to deal with UK residents. Thanks

StepChange_Pavan

Kaster wrote: »

Hi there. I am looking into apply for a DRO, I have seen that the Official Receiver do some checks externally, can you tell me what these are please?

I want to see who exactly it is they will be contacting to verify my info.

Hi Kaster and thanks for your post.

They can investigate anything relating to your finances, but it’s difficult to say exactly who they will or won’t contact.

If you’d like some more detailed advice on whether a DRO is your best options, you can use our Debt Remedy (http://www.cccs.co.uk/ref/drcu) or call us on 0800 138 1111.

Kind regards,
Pavan