I need help taking control of my debts

Shonar0612

Hi all

I started a thread about 2 weeks ago because a debt collector turned up at my door. I gave my account number and sort code but still have not received confirmation of a payment plan having been set up! This was to Credit Security Limited for a debt to TSB for £1409.

I would also like some guidance on what to do with my other debts, steps to take etc. I will list the debts below and if anyone can help I really would be grateful.

£1409 Credit Security Limited - Lloyds TSB for a credit card of a £1000 limit

£666.78 Wescot - Lloyds TSB for a overdraft on a current account for £500, they have recently sent a letter with a tsb logo looking very deceiving but in fact its wescot.

£167.51 2 photo copied letters to look like they are from TSB one saying Wescot reference and another the address says Moorcroft Debt Recovery.

I know I also have another debt which has not yet caught up with me but at the moment I am receiving a letter every week from each of these and I need a lot of guidance to get this sorted. I am currently a single mum to 2 young children who are not yet at nursery or school so can not work to earn extra cash.

Time_to_face_the_music

Hi shonar0612 :hello:

Do you live in rented accommodation or do you have a mortgage? If you are not a homeowner, with your level of debt, you could possibly be eligible for a debt relief order (DRO). Check out this information on the CCCS website:

http://www.cccs.co.uk/InfoCentre/EnglandandWales/Debtsolutions/Debtrelieforder.aspx

You can also go to the CCCS debt remedy and input all the information you have and see what they recommend:

https://debtremedy.cccs.co.uk/start.aspx

If you have other debts, you should be able to trace these via a credit report, you can get a free report via Noddle:

https://www.noddle.co.uk/

Good luck and please let us know how you get on

Shonar0612

Hi there

Really sorry I should of added I live in Scotland. I currently rent from a social charity ( housing association )

Time_to_face_the_music

You can still use the debt remedy on CCCS website but DROs are not available in Scotland.

I think the equivalent is a debt arrangement scheme (DAS), check this out:

http://www.dasscotland.gov.uk/

Hopefully someone with more knowledge of Scottish debt management will be along soon to help

Shonar0612

Thank you - or perhaps someone who has used DAS before.

Shonar0612

Anyone got any help?

katy_ann

Sorry I cant offer any help on a DAS but good luck with getting things sorted and let us know how it goes x

coolcait

Hi shona and welcome

My first thought, as always, is that I'd really, really recommend that you try to speak to a local money adviser - in CAB or at your local Council. They can sit down with you, and help you sort things out so that you can decide what's the best thing for you to do.

There's not really an equivalent of the DRO in Scotland.

DAS is like a legally protected Debt Management Plan, so the idea is that you pay off all of your debts - and your creditors have to freeze interest etc, and they can't take legal action to force you to pay any more than you've agreed.

The closest thing to a DRO would be applying for bankruptcy under the Low Income Low Assets criteria. It is bankruptcy, but sometimes that is the best option for a person - depending on their circumstances.

That's why I think it's so important to talk things through with a money adviser. They can explain the pros and cons of the different options, and that can help you decide what is the best thing for you to do.

good luck!

Shonar0612

Thanks everyone. I am going to go to my local CAB on Saturday