Hiding your debts? Think you can cope on your own?

gemini12

HI RG thanks for the Rochdale update. It sounds like Rochdale is much the same as any other town. Here we have two new money exchange/pawnbrokers set up within weeks of each other at the same time proper shops are closing. We have lost Clarks shoes and pastimes in the last couple of weeks with others probably going very soon.

Has anyone else noticed charity shops are becoming increasingly expensive or is it that I am becoming more MSE:rotfl:.

You are doing brilliantly and sound really upbeat from where you started. Carry on the good work.

Wellyboots6

Hey RG

Like others have said you need to change your wage details sharpish so they get paid into your new bank account, otherwise if they get paid into your overdraft account the £200ish will get swallowed by the overdraft.

That would leave you with £200 less for the month. You then couldn't use your overdraft to get the £200 back as it would be borrowing money again which you shouldn't do on a DMP.

If your wages get paid into the new account, you will then make small payments according to your DMP into the overdraft account to eventually pay off the overdraft and close the account.

So...

Change wage details to go into new account
Cancel direct debits coming out of overdraft account


Hope that helps!

And if I have got any of it wrong, someone more experienced will correct me I'm sure

rdchick

Hiya

This is my 1000 post so feel lucky haha

Yeah Katy is right, forget the account with the overdraft get your wages paid in the new account (get those details to HR straight away and maybe follow up a couple of days later to make sure they definitely are going to pay your wages into your new account)

then treat your overdraft as a debt, it will be paid like the others via CCCS


Also, this is a smiling biscuit:




ahh BN's where did they go?!

xxx

BlushingRose

Rochdale_Guy wrote: »

[[/COLOR] [COLOR="Red"]DRUM ROLL ![/COLOR] [COLOR="blue"]]

Well, I took a huge step and called up CCCS for a long overdue chat at 8am!
(I need to give them my updated SOA figures tonight)

I then logged onto my digital banking and cancelled all the direct debits for my credit cards and car loan, I was shaking pressing "CANCEL".
(too late to turn back now!) :j

And at lunch I am going to open a new basic account - with NO overdraft.

I'm still shaking now, I'm daft :rotfl:

It's a start isn't it! :T

:beer:

Oh, I'm meant to be in work by 9am, gotta fly

Well done!!! :T

BlushingRose

Yes, this is what you must do.

As soon as you get your new bank details, give them to Payroll and get them to pay your wages into your new account.
If they can't do this for this pay day when get them to give you a cheque instead.
Forget the old account - it is now a debt account. You might not be over your OD limit, but an OD is still borrows money - ie, a debt.
In fact, write a letter to your old bank, requested that they close the account with immediate effect.

Wellyboots6

Thanks rdchick,

I now have ' BN BN do do dee do doo' going round and round in my head!!

rdchick

Mwhahaha but what did happen to them?! Xxx

Rochdale_Guy

FREEZ wrote: »

Hi RochdaleGuy
Well done on making such a huge step :beer:

Reference the Bank Account; should you not be getting your wages paid into your new bank account? That is why CCCS count your overdraft as a debt.
I'm sure someone with more knowledge than me will be along shortly.

I will be doing, but I haven't had my new bank account details yet and I'm worried it won't be ready in time for my wages being paid on the 15th

rdchick

You should get your account through in a couple of days however, you may want to talk to your HR people and see if they can pay you by cheque or something this month instead (I don't know how hard that would be, I work for a small company so for me I could do that... If I wanted ) it would mean that you would have to cash it and get your money a bit later but it would mean your wage wouldn't be eaten by debt

Have a word with them and see what they suggest and how much notice they need before they process the wages (mine do them 3 day in advance) xxx

Rochdale_Guy

gemini12 wrote: »

HI RG thanks for the Rochdale update. It sounds like Rochdale is much the same as any other town. Here we have two new money exchange/pawnbrokers set up within weeks of each other at the same time proper shops are closing. We have lost Clarks shoes and pastimes in the last couple of weeks with others probably going very soon.

Has anyone else noticed charity shops are becoming increasingly expensive or is it that I am becoming more MSE:rotfl:.

You are doing brilliantly and sound really upbeat from where you started. Carry on the good work.

Thank you

Where are you by the way gemini12? LOL

Have you seen this?

http://www.rochdale.gov.uk/news_and_events/new_council_offices_webcam.aspx

Despite having to cut £64 from the council's budget, they are ironically spending a fortune on a new Council HQ opposite the current bus station on Smith Street and bringing the tram to Rochdale (unreal eh?, all it will do is take people away, LOL). Sorry, not much point in checking a live webcam at night, oops! :rotfl:

There's also a rather delightful Town Trail guide for download here, if you're missing the old place?

http://www.rochdale.gov.uk/pdf/Heritage%20Walk%20Booklet%2020pg.pdf

Cheers :beer: