Struggling with debt? Ask a debt advisor a question

StepChange_Pavan

Ruscik12 wrote: »

Ok spoke to CCCS and got most plans in motion for Basic bank account and sending letters to creditors.

However where do I find postal details to send those letters to? It never came to me to ask.

Any idea where to send letters relating to debt and CCCS to NatWest and Barclaycard?

I been on Natwest website and can not find a thing.

Hi Ruscik12 and thanks for your post.

I’d recommend that you send them to the address on the statements from your creditors - it can depend on the type of the debt and at what stage it’s at. You can also use any reference number that they give on the statement to make sure that it tallies with your account. If you’re unsure it’s best to give them a ring.

Kind regards,
Pavan

StepChange_Pavan

Bring_It_On wrote: »

Hi

I'm a bit worried I've done something stupid. I have sent a cheque to my old bank as a token payment for my loan with a cheque from my new account, have I made a big mistake as someone pointed out to me on another thread that they will now have my new bank details, appreciate any advice you can offer?

Thanks

Hi Bring It On and thanks for your post.

It’s fine to send a cheque – they won’t know be able to take money without your permission after receiving this. The only problem would be if it was with a connected bank or if you had sent up a direct debit (as this gives them the control over how much they can take).

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

Hi everyone,

The CCCS MoneyAware team are out of the office tomorrow for the day. We’re sorry for any delay in replying to your question – We’ll be back on Thursday

You can still receive debt counselling through our online service Debt Remedy (http://www.cccs.co.uk/ref/drcu) 24 hours a day.

Kind regards,
Pavan

liana1877

hiya
i have a credit card with hsbc and owe 4k how can i get them to stop the interest on it as i am never going to be able to pay it off. i currently earn around £650 a month with benefits and work. will they take into account my partners wage when considering repayments???? i dont want them too as its my debt not his. thanks for any help

kazmc71

I rather stupidly took out an overdraft on my account £1600 with a £10 per month charge, and then one for my partner at £700. Then I switched my bank and didn't clear the original overdraft and gained a new one at £800. Credit cards are as follows: Barclays £3500,Apr 24.9.
Asda £750 Apr 28.8,
HSBC £800 APR 20.9.
Capital one £700 Apr 0 till Sept,
and a storecard at £450 Apr 18.16.

I have just cleared my last loan but am stuck as to which card to pay first. I never clear my overdrafts but end up paying the bills with them. Do I start afresh, pay the minimum on the cards and try to get back in the black with the bank, or use the overdraft to clear the cards as the fee is cheaper? Please help!

suzy99_2

Hi
I have approx £8,500 of debt that I have accumulated through payday loans, a bank loan, store card and credit cards that I am hugely embarrassed of. I took these out to tide me over during rough times. I have a poor credit rating and don't know what to do now. I have buried my head in the sand for too long but now want to address it. Am I best in a dmp or a debt consolidation loan?
Any advice would be much appreciated.
Thanks

cambsno

Right, done the CCCS budget and it suggest IVA, before I set all this up I am in the process of getting a new bank account. My question is what do I do immediately about creditors?

- Ring them, say having difficulties and plan to do an IVA?
- Ring them and not mention the IVA and try to pay a token amount like £10 for this month?
- Not do anything but cancel DDs and by the time they write to me will have started IVA?
- Continue to pay, although this will simply be taken from overdraft and make that worse?

tangohotel

Hello,
I'm very new to this site so please excuse me if this thread is posted in the wrong place. Furthermore I expect this type of question has been asked many times, so apologies if I'm going over old ground.
I wondered if anybody could offer me some advice or if anybody is/has been in a similar situation and if so what they have done to tackle it.
I (wife and I jointly) currently have accumulative debts of 30k. These are made up of an unsecured loan for around 21k and then several credit cards. I have a mortgage for 130k and a house worth around 155k. My wife and I have decent-ish jobs, however she has gone part time since having our first child and this has obviously had an impact on our income.
We've always managed to make the repayments on these debts but it's a constant struggle. Recently though we have had to turn to the credit card to make it through the month, so much so that this time last year we owed 24k.
I'm at a point where I'm constantly worrying about these debts, it's starting to affect my health and family life. I don't know which way to turn, I've looked at several options i.e. a secured loan for the whole 30k, selling our home to release the equity, even IVA / bankruptcy is a consideration. The truth is I have no idea what to do and I'm not at all familiar with IVA's or any other form of debt management plan. I wondered what the experts would advise or anybody else that has any ideas. At this stage I have managed to meet all payments but I'm not sure I'll be able to do that soon.
Many thanks for reading, any advice appreciated!

StepChange_Pavan

liana1877 wrote: »

hiya
i have a credit card with hsbc and owe 4k how can i get them to stop the interest on it as i am never going to be able to pay it off. i currently earn around £650 a month with benefits and work. will they take into account my partners wage when considering repayments???? i dont want them too as its my debt not his. thanks for any help

Hi liana1877 and thanks for your post.

You could contact the bank and ask them to consider your circumstances. I’d recommend that you put together a budget (you don’t have to include your partner’s income) to show them that you can’t afford the card at the current rate.

Be careful that they don’t try to sell you any other products meaning that you’ll pay back more in the long term.

If you’d like some more detailed advice, you can call our free helpline on 0800 138 1111, we’re open Monday to Friday 8am - 8pm and Saturdays 9am – 3pm.

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

kazmc71 wrote: »

I rather stupidly took out an overdraft on my account £1600 with a £10 per month charge, and then one for my partner at £700. Then I switched my bank and didn't clear the original overdraft and gained a new one at £800. Credit cards are as follows: Barclays £3500,Apr 24.9.
Asda £750 Apr 28.8,
HSBC £800 APR 20.9.
Capital one £700 Apr 0 till Sept,
and a storecard at £450 Apr 18.16.

I have just cleared my last loan but am stuck as to which card to pay first. I never clear my overdrafts but end up paying the bills with them. Do I start afresh, pay the minimum on the cards and try to get back in the black with the bank, or use the overdraft to clear the cards as the fee is cheaper? Please help!

Hi kazmc71 and welcome to the forum.

From what you’ve said it sounds as though you can afford to repay your debts so we can’t give you advice on debt solutions.

However, it’s always best to try and clear the more expensive debts first but if you’re using your overdraft you won’t actually be reducing the debts as you’re using credit to pay credit.

You could open up a basic bank account elsewhere and have your income paid into that instead. This way you can pay towards your overdraft in the same way you would any other debts.

I hope this helps.

Lind regards,
Pavan