final demands and no job

needinghelpplease

Hello everyone

I stumbled across this forum by accident, had a read and decided to join up. Heres my financial situation, its not a pretty one and I really do need help and hoping someone out there can offer me some advice please. I owe the following:

HSBC Loan: £6,786.74 They are now demanding immediate payment and I have 18 days to pay it. Also had an arrears notice sent to me.

Final gas bill (British Gas): £1,527.22 I’ve recently split with my husband and this is an outstanding bill I agreed to pay when we was together but I let it get on top of me.

Final electric bill (British Gas): £1,200.00 same story as above.

Barclaycard credit card: £1,700

Debenhams store card: £900

BT phone bill; £164

I really don’t know what to do, I’ve moved in with my boyfriend (not paying towards his house, I feel so guilty but he is ok with this at the moment) and am about to be laid off from my job in retail due to cut backs

I don’t know where to turn, who to talk to or what options I have, I’m desperate
Thank you

NorthernLas

The following link gives a list of organisations you can speak to who can advise you what to do next.

https://forums.moneysavingexpert.com/discussion/2077631

You can talk to CCCS and NDL by telephone. You can get face to face appointments with CAB and CAP.

If you have a current account with HSBC or Barclays, I would strongly advise that you get a basic bank account with someone else (Co-op cashminder - apply by telephone or in branch). Then you have an account were your wage / benefits are safe.

needinghelpplease

Thanks NorthernLas

Is there a chance I will get turned down for the co-op current account because of my debt? (sorry if its silly question, just worried no one will want anything to do with me financially now)

I wil lcall those numbers as soon as i get in from work this afternoon, thank you again

podperson

The co-op account is quite good at accepting people with poor credit so you should be ok. As mentioned above get some advice from one of the free debt charities. I would perhaps suggest writing out to your creditors, advise them that you are unemployed (or soon to be) and offer a token payment of £1 a month. Since you will be on jsa (I assume) they will have to accept this for now so just ignore them if they whine it's not enough. Once you get sorted out and have a new job can look at doing a more long term budget and see what will the best option for you in the long run (dmp, iva, etc.)

Hax

I think the cashminder account is a really basic one - you can pay in your wages and set up standing orders and direct debits, but you have no credit facilities (no cheque book or overdraft) any "credit checks" will be for the purpose of proving your identity and ensuring you're not linked to any fraudulent activity.

When I had problems years ago, I started with a basic Natwest Step account - that was a similar thing - came with a Solo card at the time (might have changed since) that wasn't as widely accepted as Switch of Visa Debit but it was fine for getting back on my feet!

Good luck with it all!

savingcaz

Hax wrote: »

When I had problems years ago, I started with a basic Natwest Step account - that was a similar thing - came with a Solo card at the time (might have changed since) that wasn't as widely accepted as Switch of Visa Debit but it was fine for getting back on my feet!

Good luck with it all!

7

We have done the same now we opened a natwest step account it now comes with a visa debit and cheque book so you need to be a little careful if you use your cheque book.