Struggling with debt? Ask a debt advisor a question

p85ki

Hi,

I am struggling with debt, I have £1300 on a credit card which interest begins at the end of this month and £3500 on another credit card which runs out in May or June (just checking with the card company) before interest goes onto that one as well. To make matter complicated, I got a littlewoods account that has £600 on it which ends in March.

I took out the 2 credit cards originally to clear my HSBC debt which I did but then stupidly spent money on which I deeply regret.

I want to clear all of my debt within 7 months but not sure what the best way around this is.

I have another Credit Card with 9 months interest free, I have not used it yet but was skeptical about using it, but I think the best way I can suggest was pay the £1300 onto my new Credit Card then close that old card down.

My Littlewoods, im debating about using the new card or clearing it on my next pay.

I really want to focus on that £3500 so I don't end up with a 23% interest rate on whatever is in there at the time.

All of this is making my head spin and for the past 2 weeks, I have been seeing flying numbers and noticedI am starting to forget things and becoming alot more stressed out and really can no longer see what i'm doing.

Any advice that can help me.

Thanks

cherrypopaloona

Thanks or your reply Pavan. I suspected as much but thought I would check with the expert first, thanks again

jograham1711

hi! i have been very careless with money and now owe 7000 on tesco creditcard and 2500 on barclaycard! i have tried to transfer the balances to halifax card in my husbands name which he has agreed with, but they will only give us a low credit limit! we are fortunate to only have a mortgage of 28000 which is only 135.00 per month, is there a way we can put all debt on our mortgage and start afresh?

GIBMSY

Hi,

I was just wondering if there was any chance a light could be shone on my situation.

Over the past 5 years i have managed to accumulate a debt of around £9k to date This is made up of the following:

(Worst First)
£1150 - Wonga
£1000 - Quick Quid
£630 - PayDayUK
£500 - PayDayExpress
£1170 - Capital One (Maxed)
£1960 - Barclaycard (Maxed)
£2400 - Barclays OD (Maxed)
£250 - Natwest OD (Maxed)
£477 - Barclayloan (2 Instalments left)

I take home around £1500 AT. I have worked out by making a spreadsheet that i could possibly be Debt clear in 8 months. But this leaves me with next to nothing to live on, Which is not really doable with birthdays etc coming up. I have tried to increase my loan+Overdraft to consolidate my debts but i was rejected.

So i was just wondering is there any other ways i could do this so its easier on myself? Also i have looked into DMP's but i not want to do these.

Hope you can help,

Mark

peacheywoo

OK folks - any thoughts on this one.

We have a credit card with RBS - for various reasons we ran into problems, contacted them and made an arrangement for a payment plan. That was reviewed in July last year and a new amount agreed (less than the previous amount). That was for 6 months and finishes at the end of this month. The payments are all up to date and are paid by standing order, the account is in credit and we haven't missed any payments

Yesterday we get a letter from debt collectors saying RBS has passed our account over to them and we need to pay just over 7k immediately.

As we only have £102 in the bank and no savings we are slightly screwed.

Any ideas what the hell is going on???

Addison07

I am looking for a bit of advise please.

I am a married Mum of two. We already had a small amount of debt but since my husband lost his job last year it has spiraled out of control. I have not missed a payment or defaulted on anything but it is now getting to the point where I am not going to be able to pay the next gas and electric bill as I haven't had enough to set aside each month as I would normally do. I work full time, we have sold anything we can get our hands on doing car boots and on Ebay and I have been knitting, crocheting and making greetings cards to make some extra money but its not enough.

My husband has just qualified as a personal trainer and is trying to get work in the industry so hopefully we will be getting some money from that soon but I am worried that things are going to fall apart before it gets to the stage where he is making any money. My question is would it be adviseable for me to enter into some sort of debt management program now? or should I just carry on as I have been but with the possibility of missing some monthly payments on some things? either way my credit history is going to be affected isnt it?

Any help would be greatly appreciated. If you need anymore information from me then please ask.

bored_at_home

hi, i have some questions please. had to cease work 3 years ago due to having a progressive illness.
i got help from cab who got 6 creditors i owed money to to accept a pound a month each due to me having only benefits as an income.i live alone so no other money coming into the home.
this week, iv had letters regarding 2 of them, which have been sold on along with a reassigned letter fromthe original compqnies i owed.

could you give me an idea how much percentage wise the debts may have been sold on for.
i have a ppi case going thru on one of the debters currently, if it goes ahead i expect that debt to be cleared by it and have a bit left over to use elsewhere and am wondering what kind of percentage full and final figure they may start considering , with a view to me possibly being able to clear another of them.
the two iv had letters from iv contacted and set up the pound a month payment with after discussing my circumstances.
thanks for any advice you can offer.

velcromoustache

Hello,

About 5 or 6 years ago my wife both lost her job and fell pregnant meaning that our joint income fell by roughly half. This meant that our high Mortgage became our priority and therefore I defaulted on C£30k of unsecured debts, over about 6 or 7 creditors.

After a while of ignoring calls and hoping they'd go away my wife took control of the situation and we rang around and made invidual agreements with my various creditors to freeze interest and pay back a monthly amount that we could afford, which we have done without missing any payments in 5 years or so.

I am happy to continue to repay until the debts are paid off and am not looking for a work around. My question is when can I expect my credit score to look a bit healthier? Is it 6 years from when I made the last agreement? Or is it 6 years after my final payment? (about 2045!)

Many thanks,

cluelesskerry

im not sure where i should be posting this if you could help?

just wanted some advice really about a home collected loan company we have fallen behind with repayments due to my partner being laid off from work, our lender called on friday and we discussed with him that the company my partner worked for had picked up on trade its seasonal and that my partner had been offered some part time work with them again so should be able to get back on track and make a payment this friday today (monday) i recieved a handwritten note posted through my door reading

further to our conversation on friday 6th jan you agreed to make a payment today (with today underlined) voices were (were underlined) heard from within your house but no one came to the door. payment is required today to avoid any further action

all i can think of is that it was while i was doing the washing up in the kitchen and i had the radio on i did not mean to miss the door

i just really wanted to know if they were allowed to post notes like this through the door

yes we are behind with repayments but and we currently owe around £700 but are slowly trying to make payments when we can

thanks in advance

StepChange_Pavan

goodmorningsunshine wrote: »

Hi, not sure if this is the correct thread ?? but here goes.

I have a major problem with my council tax (they never sent me any bills/paperwork for the last 20 years, so in short - have never paid any) but they have now sent me 20 years or so worth of bills all in one go. :eek:

This is the only debt I have,:( as I am very careful - if I can't afford - I don't get. I don't have a flat screen tv, freezer, carpet in my hall, the list goes on and still on my 1st fridge and washing machine (both around 20 years old - actually more as I bought them both 2nd hand) I have even been without a proper cooker for 3 years (I only had a microwave) then managed to get one off ebay and had to wait 8 months before I could afford to get the gas pipe moved and cooker installed/connected.

My question is - I have a few bank accounts with a few pounds in each of them, can they arrest/claim/freeze them, even if they are not registered to me at my current address and never have been?

When I left home, I never contacted the bank to inform them of my new address, so my statements still get sent to my mums address and could they arrest/claim my wages, even if my work does not have my current address?

I would be grateful for any advice/information you could give.

Hi goodmorningsunshine,

It’s possible that they could access your wages so it’s important that you communicate with them and keep them updated on your situation.

I’d recommend that you give us a call so that we can look at your circumstances and explore all of the options that are available to you. You can call our free helpline on 0800 138 1111.

Kind regards,
Pavan