Help me help OH please?

GFN123

Hi there

DFW was invaluable to me when I was in trouble, as has the whole MSE site been! I am happily debt free and living frugally (although mine were small compared to most) but would like to help out my partner if anyone can assist? I appreciate the details are sketchy, but even some general guidance would be appreciated

He currently owes around £5k on credit cards, and is always in his overdraft. Owing to poor credit history, switching to 0% deals isn't an option.

Put simply, he is on on low wage and only just paying off the minimum amount each month. I've applied everything I've learnt to help reduce outgoings etc, but is it worth him talking to someone like CCCS to see if his creditors would accept a settlement or similar? Or can they help with getting a reduced agreed monthly payment maybe?

This area is all new to me, so not sure how 'bad' it has to be for him to look at such options?

Any opinions or other options please? Thanks

antonia1

Is he currently meeting the minimum monthly repayments, and likely to continue doing so? See if you can post his SOA and let the nice folk on here see if they can make any further savings.

Looking at all of your options isn't a bad thing, though if he is currently making the repayments his creditors will have no reason to accept a settlement. Definitely talk to one of the free debt charities like CCCS, they really do know what they are doing.