Advice Needed With Halifax! Friends 17k debt!

Penny-Pincher!!

Hi

After some info for a friend. Basically they are in financial poop and they need some advice.

Friend has recently left her job...dont ask! She has just found out she is pregnant and doesnt want to work .....anyway...thats a whole other thread(she was quite ill with last child)! Her partner is earning ok money but they have so many outgoings which are mainly made up of a huge morgage and loans. She has a credit card with Halifax which has about 17k on it:eek: :eek: :eek: This has been used for doing up their house etc over the past 2 years.

They are struggling to make the minumum payments of approx £300pm. I suggested sending a letter to Halifax explaining their financial difficulties, but would this make any difference Maybe ask to reduce their payments for the time being? Do you think they would accept this?

I have suggested that she work in supermarket of an evening or even some day shifts as their DD starts school next month. They are already short each month, but alot is their own fault and they are totally [EMAIL="cr@p"]!!!!!![/EMAIL] with money. There is no real reason why she cant work and I have tried explaining that. She is a qualified childminder, so have even suggested that also. Have also suggested them selling and down sizing as their property is very big, but I think there isnt alot of equity as they have re-morgaged several times. I am not sure of their total debt.

So, anyway. My questions are:

(1)Is it worth sending Halifax a letter asking to reduce payments and freezing interest?
(2)If they were to sell in the next few months, could they offer a full and final?

Any advice would be greatly appreciated.

PP
xx

Kevicho

TBH your best bet is to get them to post on here.

That way we will be able to get all the info and able to get them in the frame of mind they will need to be able to sort out there debt issues.

Failing that give them the number for CCCs or payplan and that way they will be able to deal with the creditors for them.

Good luck and keep up the whole being a great friend

Kev

Mrs_Sparkle

I agree with Kev- try to get them on here. I'm just about to go on maternity leave and am dreading the financial implications that's going to have for us so I can't imagine willingly giving up your income. Your friend may find working from home suits her better- childminding is an excellent idea of yours. She needs to be in the right frame of mind though and that's where we can help. Sorry I don't know the answer to your questions about Halifax but hopefully someone on here will.

lynsayjane

ditto the above, getting on here and doing an soa are the best first steps they can take

however as far as halifax go, i'd attempt a phone call/letter explainging the situation, the worst they can do is say no we won't accept a part payment.

jet77

I'd advise contacting Halifax and explaining that there's more going out than coming in each month and that it is impossible for them to meet the repayments. Contacting the CCCS would be good aswell but they would def need to do a SOA. The CCCS stress that there are priority and non priority payments - priority = mortgage, gas, electric etc....., non-priority = debts to creditors - it might be worth stressing this to Halifax if they are awkward. I have rung Halifax before and not been given the answers I want and had to ring back 3/4 times pretending its the first time I've rung and playing it a bit dumb and got what I want (that was re: getting charges reimbursed).

Best of luck, Jxxx

Penny-Pincher!!

Thanks guys!

Have begged them to do a SOA on here but really doubt they will:rolleyes: They live in their own little world and not in reality! I think until they realise how much !!!!!! they are truly in, I cant do much else Its such a shame, but they truly believe that they dont really have a problem.

I have suggested about CCCS, but they have said they will wait and see. I can honestly see them having to give up their home this time next year if they dont pull their socks up. I hope they do send a letter to Halifax explaining their circumstances, but again if they dont believe they are in trouble how can they write it in a letter....I dont understand some people.

Thanks for the replies, and fingers x'd that they will take action, especially with another baby on the way.

PP
xx