Seen as this is the way im heading....

radford123

Basically, im sure you guys have heard from me before and my constant moaning.

Due to certain sets of circumstances over the past 6 or 7 months or so, my finances have beecome increasingly strained. To the stage now where my credit rating is so low, its down to double figures. I have spent any form of credit I have and am being bombarded by certain creditors for latew credit card payments.

No bank or loan comapny will give me a loan, and I've now been charged 3 or 4 times for broker fees having not researched companies before I deal with them. I cant even open any further student bank accounts to utilise overdradfts at the moment.

As some are well aware, getting a job with no previous experience is like finding gold dust these days.

The situation has gott'n so bad that I've probably spent 15 hours asleep in the last 5 nights, nothing compared to the time spent tossing and turning worrying about how im going to pay rent, how im going to pay this that and the other, infact how im going to eat, live, learn and carrying on a normal life? I approached a doctor yesterday whom stated my blood pressure was way too high for the age I am and that I should try and relive myself of any stress.

I currently have these credit issues

Nationwide Credit Card, £1,500 owed - 1 payment missed
Capital One Credit Card £280 owed - 2 payments missed
Rbs Overdraft £750
Natwest Overdraft £750
Santander Overdraft £280

Im literally running out of options, im only 19 myself and so this amount of pressure and un-rest is causing probably more than normal stress.

Any help or advice, or sites that may help me, or loan companies that are forgiving.. just anything.

Please help.

JCS1

Please speak to one of the free debt charities, CAB, National Debtline or CCCS. They will be able to go through your options with you.

Angiepange

Hello and welcome

Please speak to the free debt charities for advice on your situation, links below

Main recommended sources of help:

• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

I hope you can find a solution, you're health is far too important to be affected in this way. Good luck.

radford123

Thanks for the reply, ive had a look round these sites before. What actually are free debt charities? Surely the term free is bit of an iffy one when your going to ahve to be paying them something?

Ineedaname

Radford - they are FREE advice charities, meaning they don't charge for the advice or services they provide, such as setting up a Debt Management Plan for you. Please give one of them a call to go through your options. You'll be able to sleep again once you've talked it through with a professional.

Debt charities will negotiate with your creditors on your behalf to agree repayments. You then set up standing orders direct to your creditors.

A fee charging company will do all the work but you then set up a standing order to them and they pay your creditors on your behalf.

Senile_Student

The charities Angie has listed give FREE advice and they are very good too. Talking to them will be a big help.

mel12

Debt charities will negotiate with your creditors on your behalf to agree repayments. You then set up standing orders direct to your creditors.

CCCS and payplan both offer debt management plans where you make one monthly payment to them and they distribute it to your creditors. CAB you have to set up standing orders direct to creditors.

Don't go with a fee charging company when the charities will do the same work for free.


Radford - a debt managment plan (DMP) is one of the options the debt charities will talk to you about - where you pay what you can afford after living expenses to your creditors. This is distributed to them in proportion to what you owe them (will be less than the minimum payments), most creditors will stop charging you interest when you go on a DMP.

Ineedaname

Thanks for the clarification Mel, I was going on my experience with the CAB and assumed CCCS would do CCCS the same.

Do National Debtline run DMPs?

I thought PayPlan charged a fee?

mel12

Not sure about national debtline. I know payplan do IVA's and charge a fee, I didn't think they charge for DMPs but not 100% sure.

Blackpool_Saver

Seen as? who has seen it?

Angiepange

Blackpool_Saver wrote: »

Seen as? who has seen it?

Irrelevant :cool: