im in it big time,need help/advice.....

livinginhope

Morning mickey,what else did CCCS suggest? DMP,IVA or bankruptcy?
You cannot close your bank account when you owe money on the overdraft,just stop using it and include it in your debt plan.
Good luck
LIH

fallenwiccan

I'd also suggest looking into reclaiming any bank charges you've had (if you havent already) this could help you out quite a bit.

good luck, my student debt is starting to run up already and as i get the joys of top up fees i think i've worked out its going to be about £35K after my 4 year course but right now i guess theres nothing i can do about it so im just trying to budget and save money where i can to not go into my overdraft.

mickey66_2

fallenwiccan wrote:

I'd also suggest looking into reclaiming any bank charges you've had (if you havent already) this could help you out quite a bit.

good luck, my student debt is starting to run up already and as i get the joys of top up fees i think i've worked out its going to be about £35K after my 4 year course but right now i guess theres nothing i can do about it so im just trying to budget and save money where i can to not go into my overdraft.[/QUOTE

with regards to reclaiming bank charges,i was in the process of doing this but then all this has happened,can i still go ahead with it?,because im going to contact my bank and advise them im goiny to do a DMP.

mickey66_2

livinginhope wrote:

Morning mickey,what else did CCCS suggest? DMP,IVA or bankruptcy?
You cannot close your bank account when you owe money on the overdraft,just stop using it and include it in your debt plan.
Good luck
LIH

a DMP,its gonna be hard.

cheers ive found out about the bank account,and im gonna contact them to tell them the situation,that'll go down well,coz im well over my overdraft!....i'll just tell em to take it out of all the illegal bank charges they've given me over the years!

justruth

Wow well done you mate, you've really took the bull by the horns and sorted out how you are going to deal with this, I'm totally impressed!

As posted above, go get them, claim back every charge that they have applied to your account over the last 6 years, you're not friends, they didn't care how much the financial pressures they put you under affected your well being! Don't worry about closing the old account, if you are unsure of anything contact the CCCS and they will sort it out. The Co-op will probably transfer all dd payments etc if you ask them to. Make sure you let the payroll know about your new bank details.

As for the 10 years, I know, you'd probably get less for murder! However, it is really important to remember that the 10 years figure is based on your current income and once you get into the full moneysavingexpert swing of things I'm sure you will find the budget generous and many new ways of adding to your income! What is the liklihood of you getting some sort of payrise in the next 10 years? If you need to see for yourself how much of a difference to your debt free date a couple of extra quid can make play with the snowball calculator on whatsthecost.com.

It's a nasty shock when it all comes out in black and white how much you owe and how long you will be paying it off for, but it was this way before, you just didn't realise how bad it was. At least now you have control again!

To help you budget here's what I do to keep track, I keep a spending diary of everything that comes in and goes out of my account, and everything that I spend. Once a week (sunday for me) I go through everything balance all my accounts, check that how much I have left in my budgets and once a month I look at how my expenses might be reduced. This might not suit you, I wont be offended if it doesn't but this is how I control money. It helps me keep on top of what I am spending and where.

I'm seriously impressed at what you have achieved in such a short space of time. I wish you luck, but don't think you need it.

artic_fox_2

i went and opened an abby account when i had my lightbulb moment and then transfered my directdebits and monies in then carmly told hsbc that id like to cancel account was over drawn and had a loan with them they said no cant close account but hay i just stopped money going in eventually they got the message and closed the account and sent the over draft off with the loan to the debt collectors (was all the time putting bout £10 in account to show willing ness to pay something)

mickey66_2

justruth wrote:

Wow well done you mate, you've really took the bull by the horns and sorted out how you are going to deal with this, I'm totally impressed!

As posted above, go get them, claim back every charge that they have applied to your account over the last 6 years, you're not friends, they didn't care how much the financial pressures they put you under affected your well being! Don't worry about closing the old account, if you are unsure of anything contact the CCCS and they will sort it out. The Co-op will probably transfer all dd payments etc if you ask them to. Make sure you let the payroll know about your new bank details.

As for the 10 years, I know, you'd probably get less for murder! However, it is really important to remember that the 10 years figure is based on your current income and once you get into the full moneysavingexpert swing of things I'm sure you will find the budget generous and many new ways of adding to your income! What is the liklihood of you getting some sort of payrise in the next 10 years? If you need to see for yourself how much of a difference to your debt free date a couple of extra quid can make play with the snowball calculator on whatsthecost.com.

It's a nasty shock when it all comes out in black and white how much you owe and how long you will be paying it off for, but it was this way before, you just didn't realise how bad it was. At least now you have control again!

To help you budget here's what I do to keep track, I keep a spending diary of everything that comes in and goes out of my account, and everything that I spend. Once a week (sunday for me) I go through everything balance all my accounts, check that how much I have left in my budgets and once a month I look at how my expenses might be reduced. This might not suit you, I wont be offended if it doesn't but this is how I control money. It helps me keep on top of what I am spending and where.

I'm seriously impressed at what you have achieved in such a short space of time. I wish you luck, but don't think you need it.

thanks for that,its all up in the air at the moment,PPI,DMP,bank charges,budgets,new bank.....just waiting for it all to land then i can really get on,all very daunting but as i say ive gotta get on with it;)

im trying to sell a car at the moment too,Jeep Grand Cherokee,have been trying to sell it for 8!!! months,if i can shift that i'll have a bit of money to play with.....must be someone out there who wants it

mickey66_2

artic_fox wrote:

i went and opened an abby account when i had my lightbulb moment and then transfered my directdebits and monies in then carmly told hsbc that id like to cancel account was over drawn and had a loan with them they said no cant close account but hay i just stopped money going in eventually they got the message and closed the account and sent the over draft off with the loan to the debt collectors (was all the time putting bout £10 in account to show willing ness to pay something)

i'll probably do the same,have no respect for them at all anymore,20years i was with them did nothing to help,just kept giving me more credit then when i started to struggle they were'nt interested.

worse thing i ever did was joining a bank.

Bargain_Rzl

mickey66 wrote:

im trying to sell a car at the moment too,Jeep Grand Cherokee,have been trying to sell it for 8!!! months,if i can shift that i'll have a bit of money to play with.....must be someone out there who wants it

Sorry if this is a stupid question, but do you think you might be asking too high a price for it? Obviously I don't know what you've been trying to sell it for, but it's only worth what somebody is prepared to pay for it. It's not worth anything to you as it is.

Have you thought of setting your sights lower price-wise?

mickey66_2

Bargain_Rzl wrote:

Sorry if this is a stupid question, but do you think you might be asking too high a price for it? Obviously I don't know what you've been trying to sell it for, but it's only worth what somebody is prepared to pay for it. It's not worth anything to you as it is.

Have you thought of setting your sights lower price-wise?

yep it started at 8k now down to 4k!! unfortunately people just dont want them,drinks petrol like its going out of fashion and loads of bad press recently...just my luck:mad: