please HELP !!!

beckyroo87

hi, im am a 25 year old single mum, with about £13,500 debt ccs, loan, store card and catalogue, mostly to keep my little one in clothes and fed and bday and xmas presents!! i am thinking of a debt management plan ! i have been scouring the internet today reading reviews on different companies... baines and ernst i have heard bad and good, 2 of my friends are currently with them. and they have had no problems. but i have also read on forums etc that their no good!!! :(:(:(:(:(:(:(

so can any body shed a light for me !??

any advice would be much apprectiated as i am having sleepless nights about it all now!!

FireWyrm

Stay away from debt management companies. Their only goal is to make profit for themselves. Most of what they do, any adult of average intelligence could accomplish themselves with a little common sense. If you really feel you cannot face this alone, or do not have the necessary skills to speak to your creditors directly and negotiate, speak to a CHARITY. I repeat, stay well away from debt management 'companies'.

carslet

beckyroo87 wrote: »

hi, im am a 25 year old single mum, with about £13,500 debt ccs, loan, store card and catalogue, mostly to keep my little one in clothes and fed and bday and xmas presents!! i am thinking of a debt management plan ! i have been scouring the internet today reading reviews on different companies... baines and ernst i have heard bad and good, 2 of my friends are currently with them. and they have had no problems. but i have also read on forums etc that their no good!!! :(:(:(:(:(:(:(

so can any body shed a light for me !??

any advice would be much apprectiated as i am having sleepless nights about it all now!!

you need to say your debt amount in more detail, with the APR and what yo can afford to pay before you will get the good advice from on here, you will feel better, most on here are helpful and have good advice

LE3

welcome to MSE - you are in the right place!
I'm pretty new here, but the very knowledgeable people will be along really soon with very useful and practical help for you

£13,500 may sound a lot but there are loads of people who have paid that off & much more with some focussed effort - and you'll get tons of support along the way

RAS

Speak to one of the debt charities, who offer the same thing but do not charge 15-20% fees. http://www.moneysavingexpert.com/loans/debt-help-plan#help

Then learn to budget mopre tightly as yopu plainly cannot afford the clothes and the Christmas presents.

Try www.freegle.org.uk, www.freecycle.com and charity shops for both.

princess*daisy

Hi Becky :wave:

Welcome to DFW and well done on taking your first steps. As many people will tell you on here, please do not ever be tempted to use a company that charges a fee for a DMP. Instead, go with one of the free charitable organisations, such as CCCS or Payplan.

Posting your SOA on here would be a good idea, then forum members will have a better idea of your financial circumstances. It might be the case that people can suggest ideas and ways you can cut back in order to pay off your debts without having to resort to a DMP. The SOA calculator can be found here - http://www.makesenseofcards.com/soacalc.html

HTH. Good luck!

vax2002

are you working.