So Much Debt Cant Get Out

miss_eastender

hI PEOPLE

I have seen the adverts for debt free direct and it sounds ok, has anyone tried this out before i do. Im scared that it would mean id have to declare myself bankrubt or something. I have a loan of £16k and cc of £7k

Just seems to be getting worse

Help

moxie_2

Hi there and welcome. You are better off contacting one of the not for profit debt help agencies, like payplan or CCCS. There are links at the top. You will need to prepare your income and expenditure, otherwise know as a statement of affairs, see the sticky at the top for how to do it and what to include. Payplan etc will ask for this info, and if you put it on here, we might be help to help you cut back. Bankruptcy is usually the last thing they will suggest. Maybe a debt management plan might be better for you. Have a look at their websites for details of your options. And good luck!

lynzpower

hi miss eastender

Your best bet is to post up a SOA, to see what you are spending and where. read southern scousers sticky, first time posters at the top of the page.

Debt free direct will charge you, so as moxie says, avoid them and ask the advice of payplan or cccs.

We are here to help weve all been where you are dont panic

angelavdavis

Hi there and welcome!

As Lynz says, sit down tonight with your bank statements, bills, etc and complete the statement of affairs (look at Southernscousers sticky here for the format:
http://forums.moneysavingexpert.com/showthread.html?t=107280)

Post it up, and the helpful folk here will look at it and make suggestions on how you can make improvements/get assistance.

Good luck!

Verbatim

Hi and welcome from me too.

Hope you can post up your situation so we can take a look and see how we can help.

CCCs, payplan and the CAB won't charge you so all your money paid to them goes off your debt. If you use one of the fee paying agencies like debt free direct they'll take a cut and so it'll take longer to pay it all off. Also creditors are happier to deal with the charities CCS etc as they know all the available money will come to them. Some fee paying agencies don't have too good a reputation as there are stories of long delays before they contact the creditors for you so that the people you owe money to continue to hassle you for their money. On the other hand I've not heard a bad word against CCCS or Payplan on here and loads of people have used them.