I really need some help :(

kazi_2

I have thought about that, I don't want to apply for anything until I am sure what I am applying for, as I don't want any more marks on my credit score for no reason, can you recommend any that arnt really affected by a poor score?

oh i forgot to say we have two incomes my other half is £1000 per month and mine is £450 per month plus £113 per month child benefit.

livinginhope

Hi kazi,well done for posting your debts
I am concerned that you want to consolidate again,I don't think this is the answer,you have done this before,quite recently by the look of it,and it hasn't worked,if you do it again a couple of months down the line you will be in an even worse situation.
Your SOA shows no council tax,how much is that? also car MOT/Tax,
How many are there in the house,am I right in thinking 2 adults and 2 children,if so your grocery bill is daylight robbery,start menu planning and buy ONLY what you need,start baking cakes,biscuits etc.
NTL broadband starts at £17.99/month,could you not lower your package to that one?
I think worrying about your credit file is the least thing to worry about here,I think you should maybe call CCCS or Payplan and sort the debts the DMP way.
Good luck.

kazi_2

I am in Northern Irealnd so we don't have council tax just the rates.

I am prepared to looking long term to fix this, but (Isuppose I am asking the ipossible here lol) I also need to come up with something quick to sort out the short term arrears, or how can I go about fixing that. I am also concerned about an IVA as we have about £60k equity in our property, I don't want to be in a position where we are being forced to sell the house to pay the debts, as we simply cannot afford to buy another house.

kazi_2

Oh I should have mentioned we are both smokers as well, my other half won't quit cos he says as he smokes rollies it doesn't cost as much, and granted that is true. I have tried several times and failed miserably, I am still adamant I will give up one day, and it would be a quick fix in a way, cos it would free up an awful lot of cash, but telling me I have to give up smoking cos it costs to much is pointless because I know this already and it makes it harder to stop if that makes any sense.

livinginhope

Hi kazi,I would stop thinking about an IVA,I don't think you would have enough disposable income,a DMP would be the better option.
You shouldn't be forced to sell your home if your creditors receive a regular amount of money,but by consolidating you are putting your house at risk,if you cannot afford the loan then you will end up spending on credit cards to live,then be in a worse position.
As said I would contact CCCS or Payplan as soon as possible.
I'm afraid there are no quick fixes unless you sell loads.

kazi_2

Whats the best way to go with a DMP I heard some of these companies actually charge you to help sort out your debts, which would mean paying out more money.

madduck

Don't go near any of the companies who charge for DMPs. This would mean that some of the money you have would be diverted to them instead of paying off your debts - increasing the time to you would be debt free.

Contact CCCS, Payplan or CAB - they are all charities and will not charge for their services. There are links to all 3 on the site.

I've been on a DMP with CCCS for over 2 and a half years. They helped me to develop a realistic and liveable budget, contact my creditors and basically get my life back in order. I pay a set amount of money to CCCS every month and they then distribute this to the organisations I owe money to.

CCCS will continue to provide advice and guidance during the period of your DMP.

Contact them as soon as possible. Don't get further into the consolidation loan trap - most of us have been there and it doesn't work. Don't risk your home by borrowing any further against the value of your home.

MABLE

We have the banks to thank for allowing us to get into debt and we the foolish have followed them into disaster. Just to clarify because the credit card companys give us a high limit we dont have to spend to that limit. I know we British are so polite we just cant say no. Perhaps the Office of Fair Trading will deem it unlawful and give us all the right to sue the banks for compensation. Just a thought!

SunderlandBlackCat

Whatever you do don't take out a consolidation loan until you have exhausted all other possibilities.

Take it from someone who knows I did it twice before my lightbulb moment & just ended up in worse trouble. Bear in mind the companies that constantly bombard you with those consolidation adverts are looking to make a profit out of you not help you.

Until you pick apart your spending & find out when, how & why you spend every penny you are in danger of carrying on spending more than you can afford.

kazi_2

thanks guys I'm going to sit down with my other half later and work out exactly what we owe to who then contact cccs and see what they can advise