PLEASE help me, loads of debt, sick with worry.

loupoppins

also limited with ability to remortgage due to charging order...could take payment break, but it is really long term solutions that I need.....

RAS

loupoppins wrote: »

Thanks both.
We are on a Debt Management Plan with the Consumer Credit Council.

lou

Can we get this straight as most posters here seem to understand that your DMp is with CCCS the Consumer Credit Counselling Service which is a proper debt charity. if you are struggling financially, they would reduce your monthly payments.

You are referring to Consumer Credit Council which is almost certainly a company that charges fees.

Who is the DMP with and if it is not CCCS, how much have they charged you in fees? The usual is 17.5% per month.

loupoppins

Ok...more questions....some (not sure which,still checking) of our creditors are still charging iinterest. I know thats their right, but is there anyway to pursuade them to stop?
Also, If we manage our own DMP,(ie not through CCCS) can we set the ammounts we pay more fairly to reflect ammounts we owe? Seems stupid how the money is being distributed to me.
Also,if I get a job, can I save money and then maybe pay off some of the smaller debts, or does it all have to be divided equally between creditors?

loupoppins

RAS wrote: »

lou

Can we get this straight as most posters here seem to understand that your DMp is with CCCS the Consumer Credit Counselling Service which is a proper debt charity. if you are struggling financially, they would reduce your monthly payments.

You are referring to Consumer Credit Council which is almost certainly a company that charges fees.

Who is the DMP with and if it is not CCCS, how much have they charged you in fees? The usual is 17.5% per month.

oops sorry...me rushingas always LOL
No, it is the Consumer Credit Counselling Service. No fees charged:D
We can manage the DMP at the moment and yes they have in the past reduced ammount....although DH recently had small pay rise so ammount gone up again.
My main worry though is Lloyds pursuing CCJ,what will court set as repayment ammount and will they push for another Charging Order on the house?
Also, whilst we can manage this situation short term, I do not want to spend the rest of my life like this,(getting to the end of the month,struggling to buy food etc...) which at current rate of repayment Iwill be...so need to find a better long term solution....

downnotout

I am not sure about the charge order, but it is unlikely that a CCJ is going to be set at a higher rate than what is contained within a reasonable DMP I would have thought. Someone else is free to correct me if they have a better understanding of it.

RAS

loupoppins wrote: »

Some of the debt dates back to my student days (13 odd yrs ago!) and some is due to being VERY stupid with money when we were younger.

Have you EVER requested the Consumer Credit Agreements for any credit cards or loans do you have the default or termination letters for any of these accounts?

Was there ever a periosd when you paid nothing for 6 years?

loupoppins wrote: »

Also we have 6 kids, and for a while now I havent worked because the cost of childcare would make us significantly worse off...so we are on one salary.

Have you ACTUALLY checked this as up to 85% the cost of child care would be recoverable via tax credits AND you would earn £6000 tax free, which is the same as OH getting a pay rise of £8,500.

loupoppins wrote: »

2 other companies have now taken CCJs against us, and we continue to pay the figures set by the court. Northern Rock added a charging order to their CCJ.

Did youi ever defend these cases in the courts? Or take them back to court for redetermination?

loupoppins wrote: »

Now LLoyds, who we have a loan with and a credit card are saying they will no longer accept what we have been paying and are going to pursue a CCJ.

REALLY IMPORTANT

Have you EVER requested the Consumer Credit Agreements for the Lloyds credit card or loan do you have the default or termination letters for any of these accounts?

If not you need them NOW and it may be possible to halt court action.

loupoppins wrote: »

I have an interview for a job on Weds and pray I'll get it,because as our second youngest starts school in Sept we'll finally be able to afford for me to work. Even so it is only part time and will only help a bit.(still have childcare to pay for our 2 year old).

Have you checked exactly what child care support you can get through CTC?

loupoppins wrote: »

We really live extremely frugally.


We can barely afford for the kids to do clubs etc and certainly cant afford any extra lessons for them.I know it is all our own stupid fault but I am so sick of the kids having to live like this.).

Hi

Sorry but if you are living extremely frugally, you cannot afford kids clubs. If you were bankrupt you are allowed one activity per child (max £5).

loupoppins wrote: »

We did consider an IVA, but are waiting to see if I get this job before we decide.

Please do not even consider this.

Right now you problems are not so much money as confusion and feeling upset about your situation.

It is not great, and certainly you could do without that much debt, but it is manageable and it you are proactive you can prevent it getting any worse, then start to sort it out.

loupoppins

RAS wrote: »

Have you EVERrequested the Consumer Credit Agreements for any credit cards or loans do you have the default or termination letters for any of these accounts?

Was there ever a periosd when you paid nothing for 6 years?



Have you ACTUALLY checked this as up to 85% the cost of child care would be recoverable via tax credits AND you would earn £6000 tax free, which is the same as OH getting a pay rise of £8,500.




Did youi ever defend these cases in the courts? Or take them back to court for redetermination?



REALLY IMPORTANT

Have you EVER requested the Consumer Credit Agreements for the Lloyds credit card or loan do you have the default or termination letters for any of these accounts?

If not you need them NOW and it may be possible to halt court action.



Have you checked exactly what child care support you can get through CTC?




Hi

Sorry but if you are living extremely frugally, you cannot afford kids clubs. If you were bankrupt you are allowed one activity per child (max £5).



Please do not even consider this.

Right now you problems are not so much money as confusion and feeling upset about your situation.

It is not great, and certainly you could do without that much debt, but it is manageable and it you are proactive you can prevent it getting any worse, then start to sort it out.

thanks forthe great reply.
Have checked CTC,we wouldnt qualify for anything as joint income would be too high. Would also obviously loose the £250 we now get in CTC

Re kids clubs DS1 does fencing club and scouts
DD1 does occasional drama group
and DD2 does cubs
Thats it. Cant afford swimming lessons/clubs for the younger ones/music lessons/extra clubs etc:(


Re LLoyds loan/CC.I have never requested CCA, but am looking into this.
Received default notice a couple of weeks ago. All debts date backto pre 2007....some much older...am looking intothis...what do I need to do with default letter...confused...help LOL

loupoppins

Out of interest RAS in what way would an IVA be worse than our current position?(genuine question...) Our credit rating is already shot to pieces. And we stick to very strict budget. At least with IVA there would be some end point....this is going to go on for ever.....

loupoppins

oh, and yes, DH went to court to defend the CCJs, followed all the advice from the CCCS.
Really upset about the Charging Order from Northern Rock. WE wrote to judge,following advice from CCCS, and went to court. CCCS said it would be unlikely to go through, but it did.
Quite honestly , feel CCCS have been very little help. Been on DMP for 3 years now. and still getting CCJs flung at us:(
Cant understand why LLoyds can suddenly send default notice, then soliciters letter, when they had been happy with payments offered for 3 years. Why not just ask us to increase payment or something???? Or why not just go down CCJ route at start...oh so fed with it all:(

tesuhoha

Have you actually checked to see if your son is eligible for a free bus pass?