Please could somebody help me

tequilla_slammer2002

Hi

i have just found out that i'm pregnant and that i have more debt than i realised. i have looked through this site (very helpful) and would like some advice on what to do next.

i have looked at my old lloyds tsb statements and added up all the charges they have added and realised that if i claim them back then i could pay most of my debt with the money.

im not very bright and would like to know where to start by getting the bank charges back. then i can pay off most of my debts and then bring my child into the world being debt free. (or maybe almost)

any help will be very much appreciated.
thanks
Dani

*zippy*

Hi Dani and welcome :hello:

Congratulations on your pregnancy

You can find all the information on how to claim back your bank charges at

http://www.consumeractiongroup.co.uk/

best wishes
zippy x

CLAPTON

congratulations

and

open a new bank a/c and get all you income paid into it etc

and read the following site which has a whealth of information about reclaiming charges

http://www.consumeractiongroup.co.uk/forum/

tequilla_slammer2002

Thanks zippy and clapton for such quick replys

I looked at this last night. i have got another bank account i have my wages paid into this and also all of my bills ect taken form this.
The only thing im very unsure about is... i have a £600 over draft on my lloyds account and i wasn't sure weather i should pay that money back first or weather i should just try and get back my bank charges.
many thanks
Dani

lynzpower

Dani

Put it this way, the bank charges thing, although it may well be helpful certainly isnt guaranteed. Im started to get my charges back from one bank, back in March/ April. My case has now been transferred to the mercantile court, with no projection for resolution. If I lose, this bank charge thing will be over, this ( and theres another couple of us too) could be the cas ethat they said would never happen. IN any case, im almost 6 months into the process, and I anticipate that this will drag on for a while. Dont bank on it to "pay off your debt" for you.

moozie_2

Hello tequilla_slammer2002 and welcome to the forum!

I agree with Lynz's point. Although claiming bank charges back is a good thing to do, it is a time consuming exercise that has no guaranteed outcome.

Perhaps you could post a statement of affairs (SOA) showing all your income and expenditure, followed by any debts with APRs, minimum payments and limits. Have a look at southerscousers sticky at the top of the forum for an example of putting a SOA together. We can then make some suggestions on how you can make savings and in which order to pay your debts.

Best of luck and congrats on the pregnancy! :T

tequilla_slammer2002

My salary - £1248.76

Total - £1248.76

Monthly Outgoings:

Mortgage/Rent - £575
Council Tax - £106
Gas - £10
Electric - £23.33
TV License - £11.99
Mobile Phone - £45.00
Phone - £43.00
Food - £100
Water - £25 15

Total: £939.47

Debts

Egg CC – Balance £809.37 (limit £850) APR 17.9%

HFC Loan – Balance £1234.02 APR 25.9%

Overdraft - £550 (limit £600) APR 18.4%

Simply Be Catalog – £627.07 (limit £800) APR 39.9%

Littlewoods - £1315.75 (limit £2550) APR 0%

I do live with my partner but however his business has just gone bust and now we are just living on my wages. so i am paying for everything at the moment.

lynzpower

Ok a few things then

I you are paying for everything at the mo, does your partner not have a mobile phone? Or do you guys not need transport anywhere, bus fares, car costs? Theres nothing in that SOA for present,. clothes, optical, dental, prescriptions etc

I will say though theres 90 quid being spend there on phones. Surely this can be cut down. If you are outside contract, you can go PAYG on mobile, or if not, ask to be reduced down to a cheaper tarriff.

Also look again at littlewoods, how many weeks is it 0% for, if its a catalogue you get a set amount of weeks interest free then the APR jumps up . That simply be catalogue is EYEWATERING!! 39.9% thats one of the highest (Ive ever seen, and it MUST be prioritised to either pay this off pronto, or move it onto a 0% card/ low life of balance card

How is your credit rating? could you apply for a low life of balance card?

Allthough you show your debtas you dont say what you are paying towards them every month??

Does you pratner have any debts in his name?

tequilla_slammer2002

thanks Lynzpower

Neither of us can drive so we ride our bikes everywhere (going to have to learn to drive soon tho). he has a payg fone and only puts £10 permonth on it so included it the mobile phone. i have stopped buying clothes ect.. as i have really gotta knuckle down and get these debts sorted.

My credit rating is really poor at the moment as i have only been paying minimum payments on all of my debts.

Here is a list of all the payments i pay towards them..

egg cc set fee - £25.00 p/m
HFC Loan – £37.00 p/m
Overdraft - £20 p/m
Simply Be Catalog set fee – £40.00 p/m
Littlewoods - £100 p/m

my littlewoods is any thing that i buy that is not over 52 weeks is intrest free.

my boyfriend does have 2 debts, but has payment protection on them so he is claiming that for them at the mo.

Thanks for your time and help

david_hellier

Hi and welcome to the site. Firstly don't panic. According to my calcs you have £39.53 per week to spend on food, going out, clothes etc. So, to take immediate control and prevent overspend, do not withdraw more than this amount per week. In the meantime if your OH can get any part time work to bring in say £100 per week you can start to get straight. The Simply Be account is a real rip off. If you can get that down then have a go. Do not make minimum payments. Pay the same each month and stop using CCs any more. Not sure if you use broadband, but if not then cancel the landline.

Good luck, the figures are as follows:

income weekly monthly
self 1248.76
partner
ic supp
tax cred
housing ben




total 0.00 1248.76
288.18 divided by 4.33

288.18 total weekly income

spend weekly monthly
rent/mortgage 575.00
council tax 106.00
elec 23.33
gas 10.00
water 25.15
secured loans
TV licence 11.99
fines
mob 45.00
phone 43.00
egg cc 41.00
hfc 37.00
od payoff 20.00
simply be 40.00
littlewoods 100.00















total 0.00 1077.47
248.65 divided by 4.33

£248.65 total weekly spend

Start= income - spend = £39.53 per week

evos

Hi to all,
First time I have used this site but /
I have read with interest some articles on Lowell Portfolio Ltd. My husband has received a letter approx 4 months ago regarding an old debt of around 6 years or more with HSBC. We have had no contact with the bank for about this time and have never had letters, phone calls etc regarding this debt.
He has not been in touch with Lowell to admit the debt. Does anyone know where he stands with this?