Please help...so confused

del2210

like verbatim said that dont charge a fee as they are a non profit company and all your money goes on your debt and not to them.also they can freeze interest.CCCS all the time

scared-sick

Thank you so much for all the great advice.

Just to let you know, I am not behind (at the moment) on any of my debts. The main thing that has triggered my panic is that I have an overdraft and often went over it and incurred charges, however, my bills were still getting paid. Now the bank has suddenly decided to not allow me to go 1p over my limit and bounced 3 things this month because of it. Now I am panicking!! I have managed to put some extra money into the account to get it back to its limit and 2 of the 3 bounced have been re-presented and paid (still waiting on the 3rd one).
The extra money came from my second job but as I have said before, I dont think working 7 days a week is going to be sustainable and there is the fact the job I am doing will probably tail off after xmas.
I thought I had decided to try and struggle this out, however I get paid tomorrow and still have to find an extra £170 to put into my account before the 1st of december to ensure I still keep within my overdraft limit as I dont want anything bouncing again. Oh and the £170 extra I have to find is not including the bank charges they are going to apply for bouncing. Oh and this is also all purely bills and not including food, school dinner money or petrol for the month.
I know its my own fault as I let the account go over the limit and I knew they didnt have to pay out, but how can they let you do it for months then without warning stop!!

scared-sick

It may be worth your while to drop to £1 a month payments for a couple of months, to encourage them accepting a dmp, and freezing the interest, they don't have to do this though. This will also result in a flurry of phone calls off them, something to be aware of if other people answer your phone calls.[/QUOTE]

This is one of the reasons I am worried about doing a dmp. I really cant be doing with getting hassled off these people, especially as I can see the problem coming and they dont seem to want to help in order to prevent a crisis from occurring. They only seem interested if they think they might get nothing!! This seems ridiculas to me!

backinbusiness

Still think you should consider posting up an SOA and getting advice on that.

If you can put off defaulting you should - it will impact your credit file for the next 6 years!

scared-sick

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1400
Partners monthly income after tax....... 0
Benefits................................ 339
Other income............................ 150
Total monthly income.................... 1889
Monthly Expense Details
Mortgage................................ 635
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 74
Electricity............................. 20
Gas..................................... 25
Oil..................................... 0
Water rates............................. 34
Telephone (land line)................... 0
Mobile phone............................ 60
TV Licence.............................. 14
Satellite/Cable TV...................... 60
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 20
Car Insurance........................... 30
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 20
Contents insurance...................... 0
Life assurance ......................... 18
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1060

Assets
Cash.................................... 0
House value (Gross)..................... 125000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 130000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 106......(635)......0
Total secured & HP debts...... 106.......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
loan 1.........................14000.....265.......0
loan 2.........................10000.....225.......0
loan 3.........................2500......180.......0
other..........................1000......37........0
store card 2...................400.......10........0
store card 1...................400.......50........0
cc3............................500.......25........0
cc 2...........................500.......25........0
cc 1...........................11000.....130.......0
Total unsecured debts..........40300.....947.......-

Monthly Budget Summary
Total monthly income.................... 1,889
Expenses (including HP & secured debts). 1,060
Available for debt repayments........... 829
Monthly UNsecured debt repayments....... 947
Amount short for making debt repayments. -118
Personal Balance Sheet Summary
Total assets (things you own)........... 130,000
Total HP & Secured debt................. -106
Total Unsecured debt.................... -40,300
Net Assets.............................. 89,594

scared-sick

Just a note on this....mobile will be reduced to £25 in January, have been locked in for last 24 months and can finally reduce then. Also sky package will be reduced next month to £30. I have not put in money for food, entertainment etc as I am currently using second job money for this and petrol, dinner money etc which is not ideal.

Any ideas? I feel like I have no room for manouver what so ever!

MrsTinks

Personally I would get rid of Sky entirely - even dropping to £30 is £30 more than you can afford - if you cancel it you can still use it as a freeview box. I assume you get BB and landline through this too but there are much cheaper than £30 out there a month.
Dropping the mobile down will definitely help too

Ideally you need to do your SOA complete with all the warts and beauty spots - however looking at what you have there I think you're probably looking at a DMP - what you are doing is as you have identified NOT sustainable and it won't take much (boiler fault or something) before you're stranded completely.
A DMP will affect your credit file for years to come but if you want to stay in your house that would be the most sensible solution in my eyes. I think you need to speak to one of the debt charities like CCCS and I think you need to realise that at some point the creditors will be calling you because you cannot continue to pay them. If you deal with it now you can get a head start and be prepared and if they start calling you can give them the CCCS reference and they will deal with most of it for you.