Help Me Get Debt Free Please

mamaden

Hi,
I don't know if this is the right place for this but here goes.
I am trying to sort out my life with respect to my debts (yeah I still have some that were not included in my BR)
Most of them are catalogues that my daughter had, she let me run them (she trusted me) and I betrayed that trust and run up debts that she doesn't know about.
The biggest one is with NEXT who I owe £2000 the next biggest is Littlewoods at £1300 and then there are 5 other catalogues ranging between £200 - £500 up until now I have managed to pay the amounts requested on time by robbing Peter to pay Paul.
However I have now run out of Peters to rob!!!!
I do not want to rip these catalogue companies off, but I just cannot afford the payments now.
I want to write to the catalogues asking them to hold all the charges and make an offer, at the moment I can only offer each of them £10 a month, but as the year progresses I will be paying off final payments on car finance, old council tax and rent arrears so I will have more available each month.
I estimate I can clear these debts within 10 -11 months if the catalogues allow me to pay what I offer.
I have 2 main questions that I hope you can help me with.
1)Does anyone know the most professional way to write these letters ie: is there any templates available without having to show proof of earnings. (This is because the bills are in my daughters name and I cannot show them my wage slips).
2)Has anyone had any experience with any of the big catalogues and are they likely to accept my offer without too much probing.
My only other option is to come clean with these companies and admit it was me that ordered the stuff and not my daughter, which I believe will probably result in me getting done for fraud.
In case you are wondering how my daughter doesn't know, it's because she moved out last year so she isn't here to see what items arrive and what letters/statements come.
I hope someone can help me as this is my 2nd month of non payment so I need to stop burying my head in the sand before it's too late.
Sorry the post was so long and I thank you in advance.
Den x
PS When I contact the companies I will be asking them all to close the accounts once the debts have been paid, or before if they are able to.

CLAPTON

i think you need to discusss this with your daughter as her credit record is/will be trashed by late or non payments.

highguyuk

If it's in your daughters name, as previous post has said, this will have slashed her credit rating.

You need to have a chat and explain things through with her.

mamaden

So even if I make a payment arrangement to clear these debts within in a year (which is quicker than if I carried on with their terms) the companies will still mark credit the credit files? I only need to pay a smaller amount for about 3-4 months then I will be able to up the payments substantially and clear the accounts.
Thanks for your advice, I think I will chat with my daughter when she comes over at the weekend, but either way I was hoping the companies would be a little more understanding.

Bestthingsinlifearefree

Could you return any of the stuff to the catalogue companies ?

Bestthingsinlifearefree

Why not post an SOA and work on your overall financial situation ?

This thread is a good starting point.

http://forums.moneysavingexpert.com/showthread.html?t=107280

cannonball_2

Hi,

If you do write a letter, are you going to write the letter as your daughter then? I think you are getting on dodgy ground then as in my experience they will only deal with the account holder, that being your daughter.

I know it might not be easy but I think you have to tell her what has happened, much better it comes from you than her looking into her credit report wondering why she cant get something she has applied for? She might even be able to help you out as well, I know I would with my mum after calming down a bit!!;) Seriously, you need to do the right thing I think mamaden.Might be a big weight of your shoulders as well.

mamaden

Please excuse my ignorance but what is an SOA?
Thanks

cannonball_2

Its called a state of affairs and its basically all your incomings and outgoings...including everything you can think of....then good people on here can hopefully show you where you can improve things for yourself.:D

Bestthingsinlifearefree

mamaden wrote:

Please excuse my ignorance but what is an SOA?
Thanks

If you read click / the link on my post, it explains all (post number 6 where it says "this thread is a good starting point....")

I think you should tell your daughter about the debts run up in her name. If some one run up debts in your name, would you want them to tell you ?

I wish you well.

Best,

liuhut

I really think you need to speak to your daughter about this before you send any letters. If you do not make the full payment on the second month then it will be on her credit file and like others have said, if she does apply for credit else where and gets turned down she will wonder what the hell is going on.
I think you really should speak to her before it gets any worse....she hadn't got any plans of applying for a mortgage in the near future has she?