Credit Cards & Payday Loans

clairelg_2

I'm sure I'm not the first person to have got myself into some bother with the above, and I certainly wont be the last.

I now have debts totalling around £7,000 due to take out too many credit cards and subsequently pay-day loans. I am now starting to receive threatening letters from companies such as Mackenzie Hall.

I haven't paid anything on any of the balances for a couple of months now. I am in steady employment and earn a decent enough wage to live off of.

Could anyone give me a helping hand or point me in the best direction on how to approach this debt best? I'm going to the CAB today, but I didn't know if anyone was in a similar position and what they were doing about it?

[Deleted User]

If your earning enough of a wage to be honest - work out what you can afford after living expenses and priority payments, contact the companies yourself today in writing only and ask for repayment plan based on what you've worked out - that way you'll back in control in no time at all

CCCS - debt remedy and National Debtline - my money steps have area on their sites which you can work out what you can afford, suggested solutions and give guidance on template letters though I did find some of the payday loans companies don't like copied templates and found my own words and admitting responsibility worked best

In my personal opinion please don't expect a lot from the CAB - your likely to be directed to more self help stuff really like above from what I gathered and I'd always get different opinions, but having as much money to throw at debts really is key and the only way I'm afraid