help?

jessie-jane

Hi, spoke to CAB this morning and got an appointment with debt advisor for 31 aug , i asked what should do for the immediate future and she said to RING the cc and explain that we are unable to afford this months payment and have this appointment made giving the date,time and ref no.
I was under the inpression that all correspondance should only be in writing only though and am a little concered to ring them up. Also she said to cancel any dd from bank for pyments ( these are already in the od) and then inform the bank as to what is happening! Worried sick they would freeze the account.
We are in the od but this would be coming down if not making any payment , so would it be ok to not tell bank about our situation until we had this meeting in august , just keep make any cc payments up to date who are connected to bank?
Although our SOA looks like we have money left over we are constanley in the OD by about 2500 each week even when our wages go in , so we never a zero balnce.

hope u can follow what im asking?

isy1011

I went through each of my credit card statements (It made me sick at the time but I needed to do it) and found that we were using them for general living costs e.g. food, petrol etc. That's really what you need to do is to plough through those as I didnt realise at the time. Do it with someone else if it's not easy. Good luck.

tbourner

I personally wouldn't change anything until you've spoken to the debt advisor. You don't want banks etc closing accounts and moving debts to other companies cos you'll be really confused when you have the meeting!

RAS

Hi

Take a step back.

I think you will struggle to keep this under wraps re the bank for a full month if you are cancelling DDS etc.

Have you organised your alternative bank account yet? You MUST do this before you do anything else.

Then move the income across before moving things like CT, mortgage and utility payments.

jessie-jane

Sorry forgot to say have deceided Not to use the offer of inheritance from my parents, but to try and find our own way out of this complete mess.

NorthernLas

Hi - It is always best to let your creditors know if you cannot make a payment. It is up to you how you do this. With DCAs their job is to get you to pay money so it is better to write to them. Banks/CC may be less hassle because you are officially saying you are taking advice by telling them the date and CAB ref. no.

If you are cancelling the DD on-line, the bank are less likely to notice. But get the other bank account set up asap.

RAS

Jessie

As NL and I keep asking, have you set up the alternative bank account yet. You need to do this before anything else.

Please because we have seen people with no money, no food, no rent and no money to get to work.

jessie-jane

No, we havent set this up yet is this difficult to do what with re arranging wages or do we just keep ist one opened them move over what wages we can to ?
Only 1 cc dd to cancel ,done on line this morning all the rest we pay either from other card or cheque from the od.
Can i also ask what DCA is

WASHER

You need to set up a new bank account today, if the bank get wind of the level of debt you are in, they can withdraw the overdraft.

RAS and NL are both right, you need to listen to them both, RAS is very experienced and very knowledgable on this board, she has your best interest at heart. Open that bank account today and get your OH to give the details to his employer immediately so his next pay is paid into your new bank account.

DCA - debt collection agency.

RAS

The only way is is safe to pay salary/wages into any of your existing bank accounts open is if you have one that does not have an overdraft/is in credit and which is with a company that has no association with any of your other creditors.

If you are stuck for ideas both Barclays and Co-op do basic bank accounts for people who are bankrupt.