Struggling with debt? Ask a debt advisor a question

Nutsy26

Hello , this is my first post so please bare with , my wife has a £1000 overdraft with Halifax and lives in this every month ,her tax credit go into the account weekly , yet don't even touch the surface , also she has an store card with £350 and a next card with £600 , I am willing to help her get out of this situation and have no debts of my own as we have our own accounts and always have, Halifax £1 a day is crushing her (£30 per month dead money)

So please could u advise on how to move forword and quickly

Thank you

ironchest

Please help.....

my wife took out cards and debts totalling 15k in my name without my knowledge so i am trying to resolve this myself. Can you advise me what to do for the best?

I have spoken to moneyexpert.com who offered to put me in a plan that would pay the debt in 15-16months with the help off writeoffs totalling 35% of the 10k. They have mentioned a fee of £700 ish for doing this?

CCS survey suggests that i try to pay myself direct using my disposable income? Though this would surely take longer as i wont have the written off element?

IS there anything i can do to freeze the interests / balances etc?

any advice on the above would be greatly appreciated

sickasachip13

ironchest wrote: »

Please help.....

my wife took out cards and debts totalling 15k in my name without my knowledge so i am trying to resolve this myself. Can you advise me what to do for the best?

I have spoken to moneyexpert.com who offered to put me in a plan that would pay the debt in 15-16months with the help off writeoffs totalling 35% of the 10k. They have mentioned a fee of £700 ish for doing this?

CCS survey suggests that i try to pay myself direct using my disposable income? Though this would surely take longer as i wont have the written off element?

IS there anything i can do to freeze the interests / balances etc?

any advice on the above would be greatly appreciated

Hi there,

I thought I'd respond as CCCS advisors aren't here at night! Please don't go with a fee-charging company, they cannot guarantee any freezing of interest or any 'writing off' of debt, I have seen many, many stories on this forum of people who've paid these unscrupulous companies an awful lot of money and have had a terrible experience with them.

I think you've done the debt remedy with CCCS? Them and Payplan both offer debt management plans (DMPs) for free, and CCCS is a charity. No organisation can guarantee debt can be written off or that interest can be frozen. Have a look at the link that Fat Belly posted further up for more info.

I know that when you're stressed and up against it, it seems like a gift when someone offers you what seems like a great deal, but please don't believe what the fee-charging companies tell you.

BTW, I did a blog about going on a dmp with cccs, further info in my signature.

Best of luck
SAAC

StepChange_Pavan

Nutsy26 wrote: »

Hello , this is my first post so please bare with , my wife has a £1000 overdraft with Halifax and lives in this every month ,her tax credit go into the account weekly , yet don't even touch the surface , also she has an store card with £350 and a next card with £600 , I am willing to help her get out of this situation and have no debts of my own as we have our own accounts and always have, Halifax £1 a day is crushing her (£30 per month dead money)

So please could u advise on how to move forword and quickly

Thank you

Hi Nutsy26 and thanks for your question.

If you’re in a position to help her it’s best to tackle the most expensive debts first. If her credit rating is good she may be able to apply for a 0% balance transfer card and transfer her card balances to that. This way she won’t be paying any interest on these debts and anything you’re able to pay towards it will clear the balance a lot quicker. There’s more information here: http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards.

With the overdraft, you might find it easier if she opens up a basic bank account elsewhere and has her income and outgoings set up from there. This way she can pay towards the overdraft like any other debt and it can be more motivating to see the balance reduce each month rather than living in it and seeing it fluctuate all the time

I’d also recommend that you put together a household budget as soon as possible. This will help you to see where exactly your money is going each month and it will give you a good chance to see if you can make any changes to improve the situation.

Have a think about maximising your income to raise more finds to be able to clear your debts quicker. This blogpost might give you a few ideas: http://moneyaware.co.uk/2011/01/need-to-make-extra-cash-in-2011-10-ways-to-increase-your-income/.

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

ironchest wrote: »

Please help.....

my wife took out cards and debts totalling 15k in my name without my knowledge so i am trying to resolve this myself. Can you advise me what to do for the best?

I have spoken to moneyexpert.com who offered to put me in a plan that would pay the debt in 15-16months with the help off writeoffs totalling 35% of the 10k. They have mentioned a fee of £700 ish for doing this?

CCS survey suggests that i try to pay myself direct using my disposable income? Though this would surely take longer as i wont have the written off element?

IS there anything i can do to freeze the interests / balances etc?

any advice on the above would be greatly appreciated

Hi ironchest and welcome to the forum.

SAAC has already kindly answered your concerns and she’s right that fee chargers will often promise more to try and get your business.

There’s never any guarantee that interest and charges will be stopped on a DMP but we always try our best and more importantly you won’t be paying for the service.

If you have completed our Debt Remedy (http://www.cccs.co.uk/ref/drcu) you can get in touch with us if you’re unsure about your options. You should have a reference number in your advice booklet and there’s a few different ways to contact us.

I hope this helps.

Kind regards,
Pavan

rdchick

Hi everyone,

So been here a while on and off but I have royally screwed up this time! I am thinking a DMP would be best and the debt remedy agrees with me. I haven't started missing payments yet but that's because I've taken the usual road of PDL's (joys) so now I'm super in the poop!

Anyways not too worried about the money stituation as it's just money, I can pay it back but it's the bombardment of phone calls to the house line I am most worried about. My partner knows I am in debt, sure everyone knows I'm in debt and I will tell him about the DMP when I get on it but I was wondering when do you have to apply for one - do you have to bounce for months before people take you seriously and before CCCS can help? as that will be when the phone calls come.

The reason I don't want calls to the house phone is that my partner will go mad at the people on the end of it - not fun, so is there a way of nipping that in the bud?!

And can someone tell me when can I get myself on a DMP - the sooner the better! xxx

llecky

we have a bit of debt but was always managable but cicumstances have changed the work is not there at the moment to keep up payments on any thing.
i had to give back my car and we are under more and more preasure from creditors.
when i handed back my car i was only 3 payments off doing the full 48(i could of handed the car back at this point and walked away but just could not afford the payment) they sold the car and have managed to get £6000 judgment against me, i offered them £100 a month which under the circumstances was all i could afford.
They asked the court for more the court entered the judgment but must have objected to their request for more as they set the repayments to £1 a month
last month they appealed the orginal decision the £1 remains the same i have not missed any payments they are trying to get a charging order on my house.
any idea what i do next?
one thing that may be of interest to others i have 2 credit cards with MBNA and Lombard which i am behind on, i am in the process of trying to get the PPI back which i hope will clear them.
the documents from the court show both Lombard and MBNA have an interest in my house this was the first i had heard of it.
what is there aim ?
should i fight this order?
they have asked my wife to confirm she has recived the documents and that she does not object to the charge( should she do that)
any help would be very gratefully recieved

korysend01

I'm am currently expericing financal problems and are considering a debt payment plan - i receive DLA for my son which pays for the finance on a car for his use and other items - will i have to declare this to the DPM company I assume yes but once the finance has been completed onthe vehicle will they still continue to include the DLA in my income and expenditure even thought it's for my son special needs and care and not for the normal household items??

stressedbusymum

Hi my husband agreed to sign up to fresh start who changed to harrington brooks to make a debt managemnt plan on his behalf as he was struggling dealing with things himself. We could afford 60 pounds a month towards all his debts. We assumed that interest and arrears would be frozen on accounts once companies had been notified and agreed to the propsed payments. However after looking through his paperwork i have found statements from welcome showing that they have added other a thousand pounds in arrears since we made the debt management agreement. Are they allowed to do this? I have now cancelled his agreement with harrington brooks as i feel that we have basically been flushing our money down the toilet. I have got in touch with the companies he owes and propsed payments directly to them. I have also made a complaint to welcome asking for all arrears to be removed. My question is do i have a leg to stand on?. If they refuse could i send complaint on to the ombundsman or are welcome in a position to be allowed to do what they have done? Any advice appreciated

rdchick

I have just realised I forgot to add my payday loans to the debt remedy plan, what should I do? Do I need to call CCCS? Xxx