i think i am daft

lucyloo12

half of the problem with my money is i am useless with numbers i tried the soa thing and i cant make head or tale of it , i am sorry and i am now getting desprate, i canceled my switch card payment of 50, as i contacted the debt agency who are writing on my behalf, to seeif i can pay 100 per month instead of 200, i want to be able to pay the debt by standing order and they are refusing. my total to clear is 3k, though to clear even the 1,500 would be fantastic, please excuse my ill knowledge with all this i dont even know what the numbers mean on peoples posts at the bottom. my partner is unaware i owe anything so its all hidden from him and my two children. after being made reduntant this has happened, i now work part time and can pay some money, i was offered once to pay half and the rest be scrapped howver i didnt have the money to be able to do that, can somebody help me plase

Tixy

Hi Lucy

What debt agency are writing on your behalf? do you mean a debt management company? who is it? is one of the charities or a commercial company who are going to charge you fees?

You say you cancelled your switch card payment of 50? who was this being paid to?

Do you want to pay 100 a month instead of 200 as you don't think you can afford 200? without doing a monthly budget or SoA then you cannot see how much you can afford a month. If you are planning to enter a DMP then your creditors are going to expect an income & expenditure statement from you so you will need to do it.

What are you having problems with in doing your SoA?

lucyloo12

Tixy wrote: »

Hi Lucy

What debt agency are writing on your behalf? do you mean a debt management company? who is it? is one of the charities or a commercial company who are going to charge you fees?

You say you cancelled your switch card payment of 50? who was this being paid to?

Do you want to pay 100 a month instead of 200 as you don't think you can afford 200? without doing a monthly budget or SoA then you cannot see how much you can afford a month. If you are planning to enter a DMP then your creditors are going to expect an income & expenditure statement from you so you will need to do it.

What are you having problems with in doing your SoA?

hi thanks for the reply, yes its through debtni they have done a soa thing with me which they are posting out to me to send off. it hasnt cost me anything . my 50 was due to be paid to RMA a risk management agency, however before that it was trident who i was paying but they seem to have sold it !!!

lucyloo12

hi tixy the problem i have is including intrest rates on the items as i have no idea what they are , i am sorry

Tixy

Even if you do the SoA without interest rates thats still a good start in working out how much you can afford to repay each month. For debts with debt collectors it might well be that interest is not being charged (although it could be).

When you say you have cancelled your switch card payment is that how you paid them? gave them your debit card details for them to take a payment over the phone? if so you might find they will continue to take the payment anyway. If they do then you might need to cancel your card and ask the bank for a new one or sometimes people open a new bank account when they enter a DMP?

Tixy

Is this the people you are using? advice4debtNI http://www.advice4debtni.com/

kerri_gt

Hi Lucy, check your cc statements for the interest rates, or phone up the cc companies (or store cards) and ask what the current interest rates on your accounts are.

it really would be better to sit down with your OH and tell him the situation you're in. He might be angry at first, but most likely it will be the fact you hid this from him (albeit with the best intentions) and didn't ask for his help - imagine how you'd feel if it were the other way round. Also, he needs to be aware of the situation so you can begin paying this debt back and make temp cutbacks in other areas perhaps?

£3k isn't the end of the world and it could be much much worse, so well done for looking to tackle this now. By posting the SOA on here, we can help better get an idea of your situation and people can advise on the debts to tackle first.

If you're struggling with it, you could post what you can fill in and I'm sure people will be able to help you fill in the rest.

lucyloo12

Tixy wrote: »

Even if you do the SoA without interest rates thats still a good start in working out how much you can afford to repay each month. For debts with debt collectors it might well be that interest is not being charged (although it could be).

When you say you have cancelled your switch card payment is that how you paid them? gave them your debit card details for them to take a payment over the phone? if so you might find they will continue to take the payment anyway. If they do then you might need to cancel your card and ask the bank for a new one or sometimes people open a new bank account when they enter a DMP?

yes the card has been cancelled. im just sick of what seems like i am begging for time , begging them to leave me alone for a few months to sort money in a lump sum. i am ashamed of myself tbh with you.

lucyloo12

yes thats them i should get the plan tomorrow, sorry as a new user i was unable to copy your post as it had a link but yes that was it debtni

Tixy

Thats good - just wanted to check you were using the right people (there are a lot of copy cat places around). Good luck with setting up the plan with them.

mumps

Good luck, I hope it all goes well.