Grr Why Can't A Debt Management Company Help??

dave23ni

I managing to pay off my debts but I am forgetful and miss the odd one here or there permonth as I have about 12 going out of my account and its not easy to keep track.

So I've tried debt management companies to try and get all into 1 monthly repayment, but they are not interested, They say by the time they add my allowence on for food and general living expenses etc theres nothing left to pay bills, I'm like I've been managing to pay them fine, i've never spent that amount on food in my life, God what a luxury that would be.. Any advice?? Why do they set these bloody allowances so high?? I mean if I spent there allowance on food I'd be shopping in style at M&S and not Lidl

Emmzi

Be happy. Debt Management companies will charge you money. Keep it in your pocket, and invest in a good diary and spreadsheet to keep track!.

dave23ni

Emmzi wrote:

Be happy. Debt Management companies will charge you money. Keep it in your pocket, and invest in a good diary and spreadsheet to keep track!.

This was Payplan and CCCS payplan even suggested bank ruptcy:o

Emmzi

You know the DFW nerds want your SOA now, don't you? I know you posted your debts earlier, but can you give us ALL the income and outgoings to see if we can help?

You'll get some honest opinions on if bankruptcy is the way forward!

Broken_hearted

Don't let it get to you. They wouldn't help us either, it was just bgo bankrupt, that was the first last and only time I spoke to them. Years later I'm doing well (ish), clearing my debt and apart from some bad days a lot happier than I used to be.

milliejon

Do you know somebody very trustworthy and organised who you could give the one amount to, and they could pay the bills?

dave23ni

Income = £900 per month

Creditor Amount Owed Monthly Repayment

MBNA £3200 £45
Capital One £950 £20
Welcome £750 £80
Black Horse £650 £30
A&L £500 £20
HFC £600 £29
l'Woods £500 £20
Cetelem £760 £20

lynzpower

Dave

Do a SOA - read Southern Scousers sticky, and lets get you sorted. All lists of all your ins, outs debts & APRs and lets get organised. chop chop

Im not joking i used to be in the same boat as you with everything bouncing all over the shop, but things are better now by a long way.

Emmzi

So you have £636 after minimum payments.

How much are your living expenses, socialising, transport, etc?

dave23ni

Emmzi wrote:

So you have £636 after minimum payments.

How much are your living expenses, socialising, transport, etc?

I rarely socialise, I spend about £20 a week on food and about £20 on Cigs and a few tins at weekend, £5 a week on electric, £10 a week for a lift to and from work and say £20 a week for the house and mobile phones

CLAPTON

are your debts all credit cards
are you paying the minimum payments on all of them
have you missed payments or defaults on any of the debts

could you post for each debt

the debt amount, the minimum payment and the APR