Where to turn first?

SomeGeezer

Hi Guys,

I'm a sole trader and my business has been suffering badly in the last 6 or so months.

It's got to that stage now where I can no longer meet minimum monthly payments on 4 separate credit cards.

They are now starting to telephone every day, send emails and letters.

Before facing them I thought I would get some sound advice... So, do I just call one from either National Debtline/Payplan/CAB and take it from there?

At this moment in time and probably for the next 12-18 months I will only be able to manage £30-50 repayment on each.

Any advice is most welcomed.

Thanks.

alastairq

Hi....I suggest booking an appointment with CAB , whose debt advisers will be able to negotiate with your creditors on your behalf.

IF

Hi SomeGeezer, first I would call Business Debt line on their freephone number. They are very busy so requires a lot of patience but do persist as it will be worth it.

Business Debt line - Click here

Best wishes
If...x

JoePublic

Alright Geezer? I've been there mate, i too was a sole trader and the first thing i did was call the CAB to book an appointment and went through everything with them, after that i called the business debt line, although the chap i spoke to there was a bit of a numpty and essentially refused to accept what i was telling him, i ended that call and rang again later to speak to someone else.

In the short term, unless you've got a bill that's due today, i'd simply keep shtum regarding your creditors, let the professionals offer a bit of advice first and see where that takes you. There's a lot of it about at the minute fella, keep smiling, it's only money.

SomeGeezer

OK, so I'll call the CAB on Monday then.

Don't really need to call the business debt line as all the debt is personal, not from my business.

I just didn't know if the CAB or National Debt Line was the best port of call.

Thanks again!

IF

SomeGeezer wrote: »

OK, so I'll call the CAB on Monday then.

Don't really need to call the business debt line as all the debt is personal, not from my business.

I just didn't know if the CAB or National Debt Line was the best port of call.

Thanks again!

Hi SG, We advise you to try at least two debt charities for your own piece of mind.

* Blue text on this forum usually signifies hyperlinks, click on the blue links below *

Main recommended sources of help:

• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)
• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
  

Others:

• Business Debtline
  - Website: Business Debtline Telephone: 0800 197 6026
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

Please don’t do anything rash take your time and weigh up your options and read everything you can.

For ‘essential’ BR info the ‘Look here first’ sticky by Fermi.

BR friendly home insurance thread.

BR Friendly bank accounts sticky.

BR Abbreviations.


And do remember we’ve all been through this and anything you don’t understand don’t be afraid to ask.


If...x

mrcurious_2

Wishing you all the best somegeezer. I used National Debtline in Jan 2011 and they were so good to me and the advisor was so considerate and helpful. Was made BR in Feb 2011 and now discharged, you will feel much happier when the weight is lifted, hope all goes well