Help Don't Know Where To Start

baxter111

Hello Guys,

Please don't judge me I've been hideing my head in the sand for long enough!

It all started back in 2009 when my partner fell pregnant, at the time we were both living with parents and decided to find a place on our own.

We rented somewhere, with me being on a low income job at the time (£800) per month I decided to increase my overdraft limit to £1300.

Struggling to afford for the most common things in life like milk and nappies we decided to move back in with my partners mum and dad to sort my debt situation out. Being stupid I didn't I spent most of the money on my child and totally ignored my loan and overdraft limit which was getting very close to the max.

After missing 6 personal loan repayments and going over my overdraft I started paying bits of my loan back - until I lost my job (nov 2010) I decided to turn self employeed - missing more loan repayments and my overdraft being maxed again I decided to get a job.

I am now working full time again and on a decent wage - the killer is now I've think I have left it too late.

I have now recieved an 'urgent acrion' letter from natwest saying they have moved my accounts to Manchester and I need to speak to then within 30days or they will pass it to the debt collection team.

Can someone help me or give me advice? I know I have been an idiot bu I need help.

Thanks,

Scott

FireWyrm

Hi Baxter

No one here is going to judge yu. We're all in the same boat and we all feel like twits for putting ourselves there. Your behaviour is entirely normal and you are not selfish, just unlucky with losing the job etc. Everyone is going to ask for a Statement of Affairs before we can help. You can find how to do this on on the forum stickies. Fill it out, be honest and perhaps we can make some constructive suggestions as to what to do next.

Something yu can do right now, like tomorrow morning is speak to natwest. Find out what the situation is and include the results on this conversation in your SOA so we can cast our eyes over it and perhaps make suggestions.

Learning2Budget

We won't judge here. Didn't wanna read n run, but someone will come along and help you soon. L2B.x

baxter111

Thanks guys, it means alot!

Do you think I should open a new account with another bank other than natwest!!

Learning2Budget

if your debt is with natwest then yes. We have a dmp (debt management plan) with the cccs. They advised opening a basic bank account , no overdraft with an unrelated bank. Then we set up oir dmp. I felt sick, we had a small baby and couldn't keep our head above water. But we're getting there now and so can you.x

neverlearn

Hiya baxter111.

I cant give you much advice as I am new at this myself.

All I can say is, this site will save you, if you stick with it. Post daily if you can, post all your ups and downs, letters that arrive etc and you will be amazed at the advice and support you will get.

This site and the Fab people on it are helping me finally to turn my life around.

:money:

neverlearn

P.S. no one is going to judge you, it would be a case of the pot calling the frying pan, as most of us are in the same situation for one reason or another.

:money:

baxter111

Just looking at current accounts - who do you think is the best to open one with at the moment?

GeorgieFTB

neverlearn wrote: »

P.S. no one is going to judge you, it would be a case of the pot calling the frying pan, as most of us are in the same situation for one reason or another.

:money:

I like that mixed metaphor, pots and frying pans is very apt...

Now your head is out of the sand you do need to get in contact with all your creditors to find out where you stand... don't worry you don't need to do this in one sitting... get onto Natwest and find out...

I always think of creditors as children, as long as youu are firm and consistent they will not have tantrums, its when you ignore them they tend to stomp their feet!

Good luck and welcome to the forum
Gx

baxter111

Any advice on current accounts?

redapril

hi baxter,

i have just been looking into a basic bank account myself and i think the best ones are either with barclays or the co-op. think im going with co-op myself considering that my massive loan is with barclays!!!

if you just type 'basic bank account' in the search bar on this site it will bring up martins very helpful info on bba's!! :money: