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mum2one

halia wrote: »

Hi
I recently separated from my husband and I'm trying to sort out the finances. I have around £500 on a credit card and I thought that was all. Now I've realized there was an old joint account with santander- thought we'd closed it and its managed online so no paper statements. There was obviously a payment went out of it at some point for about £50, (I think) snowballing charges etc have now resulted in around £800 in fees being applied.
I have written to them about the charges and also to ask them for new security details because I can't remember the online log ins and they wont' let me talk to them on the phone. Their answer was that they wouldn't' refund any charges and they STILL haven't sent me a statement showing up to date balance.
I'm starting to sleep very badly over this - i am now on benefits trying to support my young son, I have a health problem which is getting worse with the stress.
I want to manage this but I honestly can't afford more than about £20 a month to pay it off, I am very scared it will just keep snowballing.
Someone please talk me through what to do.

Yo've come to the right place, your get expert advice from Pavan or Matt 2mor, but the 1st thing I would say if you need to put yourself and your son 1st.
Have
you checked that your getting all the benefits that your entitled to, you can use the website entitledto.co.uk or turntous, that would give you a base idea.
The seperation thats going to take a toll on you, don't take on all the stress yourself is there family nearby that are suportive, and friends.

Money wise, youve done the right thing and trying to sort out debts, it may be worth getting copies of your credit reports, you can send off postal orders and this will give you details of who your creditors are.

The thing to remember is your not the 1st, nor the last, but your taking responsibilty for everything and that is a major step forward, - as for benefits, if you haven't got the money then you can only pay what you can afford, this is where CCCS will do it all for you. I've just started with them and the difference is amazing, I really cant thank them enough.

You take care, have a strong cup of tea, and remember you are a strong person. xxx

StepChange_Pavan

halia wrote: »

Hi
I recently separated from my husband and I'm trying to sort out the finances. I have around £500 on a credit card and I thought that was all. Now I've realized there was an old joint account with santander- thought we'd closed it and its managed online so no paper statements. There was obviously a payment went out of it at some point for about £50, (I think) snowballing charges etc have now resulted in around £800 in fees being applied.
I have written to them about the charges and also to ask them for new security details because I can't remember the online log ins and they wont' let me talk to them on the phone. Their answer was that they wouldn't' refund any charges and they STILL haven't sent me a statement showing up to date balance.
I'm starting to sleep very badly over this - i am now on benefits trying to support my young son, I have a health problem which is getting worse with the stress.
I want to manage this but I honestly can't afford more than about £20 a month to pay it off, I am very scared it will just keep snowballing.
Someone please talk me through what to do.

Hi halia and thanks for your question.

Mum2one has already given some really useful advice and she’s right that you can only pay them what you can afford. Also, your husband is jointly liable for the joint debt so it’s likely that he will be chased for this too.

I’d recommend that you put together a budget that shows exactly what you can afford to pay and send this to your creditors and stick to that payment.

If you’d like some more detailed advice on your options, just give us a call on 0800 138 1111 (free including from mobiles and we’re open Monday to Friday 8am - 8pm and Saturdays 9am – 3pm). Or if you prefer you can use our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu).

I hope this helps.

Kind regards,
Pavan

mum2one

good news, I have 10 creditors, who are in the process of having the info from CCCS.

no 1 - bank account - they kindly wrote back, full accepting the situation, (big sigh of relief) and they have suggested that for a temporary measure till my situ changes I don't have to pay them a penny, (but CCCS have allocated them a payment)

no 2- Vancuroius card - accepted CCCS payment, (big phew) yet 12 months ago this sum of money offered was a big no no!

So anyone thinking about taking the step please do, xx

Feels weird but a good weird to see it in writing, this is my story,

http://moneyaware.co.uk/2012/09/faci...bts/#more-3805

Walaboobah

Hi all,

I have unsecured debts of c£27k payable to 3 creditors including 2 overdrafts, 2 credit cards and 2 bank loans

I am a married homeowner and we are currently really struggling, not sure how we are going to manage Christmas this year and with two young children it won't be easy!

We are constantly overdrawn when my pay goes in it barely covers the overdraft and some months it doesn't, the wife was made redundant 12 months ago so we ran up around £10k on a credit card.

Now despite all of this, we have not yet missed a payment, late payments on one credit card most months but I have always managed to pay it. Never missed a loan payment either

Basically on both credit cards I am covering the minimum payment each month, the one is coming down, have paid around £800 off the debt in total in the last 12 months but the other card the minimum payments is pretty much only covering the months interest so is not going down at all.

My question is that as our payments have all been made on time will I be eligible for a DMP. I have completed the CCCS online request and they have suggested a payment of £498 per month which should be OK, if we can rid ourselves of the debt in 4 years and 8 months then we'll be well happy.

So are the creditors likely to refuse to accept the DMP due to the fact no payments have been missed?

Cheers

mum2one

Walaboobah wrote: »

Hi all,

I have unsecured debts of c£27k payable to 3 creditors including 2 overdrafts, 2 credit cards and 2 bank loans

I am a married homeowner and we are currently really struggling, not sure how we are going to manage Christmas this year and with two young children it won't be easy!

We are constantly overdrawn when my pay goes in it barely covers the overdraft and some months it doesn't, the wife was made redundant 12 months ago so we ran up around £10k on a credit card.

Now despite all of this, we have not yet missed a payment, late payments on one credit card most months but I have always managed to pay it. Never missed a loan payment either

Basically on both credit cards I am covering the minimum payment each month, the one is coming down, have paid around £800 off the debt in total in the last 12 months but the other card the minimum payments is pretty much only covering the months interest so is not going down at all.

My question is that as our payments have all been made on time will I be eligible for a DMP. I have completed the CCCS online request and they have suggested a payment of £498 per month which should be OK, if we can rid ourselves of the debt in 4 years and 8 months then we'll be well happy.

So are the creditors likely to refuse to accept the DMP due to the fact no payments have been missed?

Cheers

Sorr about your wife being made redundant, it sounds like youve thought long and hard, at the mo you say your managing, but your money being swallowed up as soon as it goes in.

This is what i see from your post

Your money doesn't always cover the overdraft
you have late payments
constantly overdrawn
not sure if your going to manage christmas

That to me says your spending most of your wages etc servicing the debts, and it sounds like your just keeping the wolf from the door.

I would say youve taken the step to do an advice stage which has suggested a DMP, i would jump on baord with CCCS and take their advice, I really dont know what i would do without them.

I really think this is your best option x

Walaboobah

Thanks mum2one, wife is now a registered childminder so we are getting there but any money she has coming in is irregular.

You don't think the fact we've managed to not go into arrears and pay everything, although some late credit card payments would effect the chances of getting a DMP as I have some reservations about this.

I completed the CCCS online survey and have also completed a Statement of Affairs and the survey suggested a DMP with the amount suggested in my original post

Thanks

lizzy23

:T

Walaboobah wrote: »

Hi all,

I have unsecured debts of c£27k payable to 3 creditors including 2 overdrafts, 2 credit cards and 2 bank loans

I am a married homeowner and we are currently really struggling, not sure how we are going to manage Christmas this year and with two young children it won't be easy!

We are constantly overdrawn when my pay goes in it barely covers the overdraft and some months it doesn't, the wife was made redundant 12 months ago so we ran up around £10k on a credit card.

Now despite all of this, we have not yet missed a payment, late payments on one credit card most months but I have always managed to pay it. Never missed a loan payment either

Basically on both credit cards I am covering the minimum payment each month, the one is coming down, have paid around £800 off the debt in total in the last 12 months but the other card the minimum payments is pretty much only covering the months interest so is not going down at all.

My question is that as our payments have all been made on time will I be eligible for a DMP. I have completed the CCCS online request and they have suggested a payment of £498 per month which should be OK, if we can rid ourselves of the debt in 4 years and 8 months then we'll be well happy.

So are the creditors likely to refuse to accept the DMP due to the fact no payments have been missed?

Cheers

Hi This is exactly us, we are existing not living, i have to say CCCS have been great and our DMP will start on the 1st November

worldwide166

Hi
On my bank account, I have overdraft and paying high interest rate.Just got Halifax 22 month interest free credit card but they told me I can't transfer money from card to bank account.Is there any other way if I can solve this issue ...any advice please..
Thanks

StepChange_Pavan

Walaboobah wrote: »

Thanks mum2one, wife is now a registered childminder so we are getting there but any money she has coming in is irregular.

You don't think the fact we've managed to not go into arrears and pay everything, although some late credit card payments would effect the chances of getting a DMP as I have some reservations about this.

I completed the CCCS online survey and have also completed a Statement of Affairs and the survey suggested a DMP with the amount suggested in my original post

Thanks

Hi Walaboobah and thanks for your question.

It doesn’t matter that you haven’t missed any payments yet – if anything, that shows that you’ve sought help a little sooner which is great.

As you’ve already been recommended a DMP you should have received all the advice and paperwork you need but please get in touch if you have any questions – our contact details will be in your advice booklet.

I hope this helps.

Kind regards,
Pavan

Reggy8

Hi
My ex husband & I accured a lot of debt a long time ago, resulting in us paying a Debt Management Company a hefty amount to deal with the creditors nearly 8 years ago. We separated 2 years go & split the debt into whose name it was in, luckliy none was joint.
I now have my own agreement with the company. I vowed to sort this out once on my own as my ex was crap with money & it was mostly his fault it mounted up (although not entirely, obviously). Anyway a messy divorce & court hearing over children later I'm at last wanting to sort it out.
I pay £89 per month to Eurodebt, they keep £50 & £38 goes to my 3 creditors so I don't think anything has come off the balance in 7 years, they are appalling.
I've been approached to get an IVA which I feel is my only option to sort this mess out. I'm aware of the pros & cons, as I can't get credit now & I'm in a rented property I feel there are only pros. They have arranged to see me next Thursday & say I will pay £140 a month for 72 months (6 years) then 2 extra months as their fee.
Advice appreciated as to whether this is the best option for my circumstances. I owe £24,750 & feel if I continue with Eurodebt I'll NEVEr pay it off & I want to buy a house in the future. I'm employed p/t & I can just about afford the increase to £140 from £89 I'm paying now.
Thanks for advice!