In need of advise with large debt

annabella8

Hello, I rented my house 7 months ago, Moved to France for new life.
Now the tenant owes me 2 months rent, I have credit card debts of 15,000 of which the renting of my home paid for. Bank account now in arrears of 160.00 because of failed direct debits. (due to loss of rent)
I have cancelled all my direct debits, Written to my credit cards saying I can not pay anymore payments and can only offer to pay £3.00 per month and asked for the interest to be frozen.. I am in France without much money, And have to wait until October to fly home. I can not phone from here as I can not afford the phone charges. I do not know what to do I am very distressed. And do not know what to do or how to work it out

Thank you

Annabella

bottleofred

Hi Annabella and welcome to the forum,

The first thing for you to do is post your statement of affairs to see if you can save money which can then go towards your debts.

I've put the link for the SOA below. Good luck

http://www.makesenseofcards.com/soacalc.html

debtfreein5

Annabella

You have done the best thing by asking for help. I am sure the others on the forum will help.

Take care

Hannah_10

The rent arrears is temporary, either the tennant will start paying again or you can go through the process to kick them out (I am aware it can be a long tricky process). One way or another though, this situation will have an end point. What we can't currently know is how long it'll take to reach it.

So for now you're doing the right thing to make token payments and asking for the interest to be stopped. October is next month, so you don't actually need to do anything else before you fly back, you have sent the first round of letters, to not write again for another month is not particularly slow.

annabella8

Hello, thank you, But I doubt I will get balance transfers as I am in arrears with credit card? And i am in france with not much money at all. I have to wait until the end of the month to fly back.

annabella

annabella8

Hi, does anyone know if the cccs, will help me if I am in France? And will arranging paylan with them affect my mortgage company?
Thank you for any correspondence...
annabella

DanielFullard

Sorry wrong thread

Hannah_10

Usually aranging a DMP wont stop your mortgage taking priority over your credit debts. So in laymans, if you can afford to pay the mortgage you'll be Ok, the unsecured creditors will get whatever is left.

The thing is, I got the distinct impression you've got no income currently. If so a DMP isn't gonna be any use, because to do a DMP you need to have something left to pay with.

I'm not sure where the CCCS stand with ex-pats, but you're coming back next month, so even if they can't help you from there they should be able to do something when you're back int he UK.

Try not to panic, I know it feels like a long time away to you, but in paperwork terms October is not long.

annabella8

Thank you for advise, I am just scared as I for the moment am stuck here in Paris with no funds to get home until October, I cannot do much from here and just hope my creditors receive their letters I posted. Do you know of an address of the co-operative bank I can write to for explaining my financial situation, As my bank in arrears. As the website only have phone numbers! And cannot call from here. I am annoyed with myself for not having back up funds...but If my tenant had not missed rent payments I would not be in this mess,

themull1

if you have moved to france for a new life, how have you managed to live there with no job etc? and really, a tenant could have just moved out at the end of their agreement anyway, so how were you going to support yourself then?

Hannah_10

Write to us

The Co-operative Bank - personal
Customer Services
PO Box 200
Delf House
Southway
Skelmersdale
WN8 6GH

Quoted from here... http://www.co-operativebank.co.uk/servlet/Satellite/1198830973484,CFSweb/Page/Bank-CustomerServices

Took me two seconds to find that, calm down, panic is causing you to miss stuff and see stuff as it isn't. Take the panic out of the equation and you'll do better all round.