Feeling Totally Trapped

MattyF

Tixy wrote: »

Not really, if they are freezing interest then its a form of debt management, even if its a self-managed DMP.
It wouldn't hurt to phoning up all of the cards and seeing if any will agree to drop the interest by a few %, worth a try (the possible downside is if they refuse they might then try an interest rate hike not long after - though thats not a problem if you are not using the cards as you'll be able to opt out.

If you want to go for the 'limp through' option, I think its doable, but cutting back. The obvious starting places are groceries, which are doable on £100, and entertainment.

I think this is doable too - I'll be speaking to payroll in the morning re getting early access to the shares as well. I can certainly make savings on the entertainment side of things as well as on the grocery side.

Is the bank of ireland card maxed? if not you could slow stooze from opus. That is say buy your £100 fuel on bank of ireland, then use the £100 in your current account to pay extra off the opus card.

Bank of Ireland has about £100 of 'room'. HSBC about £200 but the main one with the 'room' is Vanquis which I really don't want to use because of the rate.

droiderm

Glad you found this area .
I know its all probably a big shock but dealing with it is the best thing to do.
Keep your chin up and good luck.

Mort

Check to see if your mobile phone is or can be covered on the house insurance, that would give you a small saving.

To meet your current payments you would have to give up on all your personal spends and motoring until you can get at your shares which is not a viable solution.

Early release of the shares might be an option but only if you don't lose out on the value.

You could write to the various creditors and ask for an interest rate freeze or even a payment holiday, but you really need to get some advice from one of the debt charities or the CAB.

MattyF

droiderm wrote: »

Glad you found this area .
I know its all probably a big shock but dealing with it is the best thing to do.
Keep your chin up and good luck.

Thanks for pointing me in the right direction drioderm, all the best.

MattyF

Mort wrote: »

Check to see if your mobile phone is or can be covered on the house insurance, that would give you a small saving.

To meet your current payments you would have to give up on all your personal spends and motoring until you can get at your shares which is not a viable solution.

Early release of the shares might be an option but only if you don't lose out on the value.

You could write to the various creditors and ask for an interest rate freeze or even a payment holiday, but you really need to get some advice from one of the debt charities or the CAB.

Thanks Mort,

I'll take a look at the various links that have been shared above and make contact with the debt charities - I'll also write to the creditors and ask for an interest rate freeze.

Thanks for the help.

debtmonster

Your way out is to get the £36,000 plus interest plus compensation from the CSA.

If 9 months of haggling and solicitors letters haven't moved the issue forward then you need to start shouting from the rooftops - local newspapers, national newspapers, TV, radio, your MP, everything you can think of.

In the meantime, follow the excellent advice here and try and hang in as best you can in the expectation that sanity will finally prevail.

Wish you well.

theoretica

You don't need phone insurance at £120 a year - at 40% of your car insurance that is plain silly, and if you do need a new phone you can pick a cheap one up for far less than that.

antonic

One way of reducing your outgoings, as I did when I discovered I was in a hole is to stop going out and that will save you £150/mth.

It wasnt a choice I particularly enjoyed making BUT when needs must thats exactly what I did.

sefton

Is there any point in having £3000 worth of investments in the form of shares and bonds. Surely these investments do not go up in value each month as much as would be saved in interest payments on £3000 worth of debt.

sefton

debtmonster wrote: »

Your way out is to get the £36,000 plus interest plus compensation from the CSA.

If 9 months of haggling and solicitors letters haven't moved the issue forward then you need to start shouting from the rooftops - local newspapers, national newspapers, TV, radio, your MP, everything you can think of.

In the meantime, follow the excellent advice here and try and hang in as best you can in the expectation that sanity will finally prevail.

Wish you well.

It may well be that as far as the law is concerned it makes no difference if the mother got the paternity wrong or lied about it in the first place. Finding out you are not the father does not in itself entitle you to get any money back. When they come after you is the time to make the noise I'm afraid.

It is important to understand, that the CSA cannot pursue a claim against you unless:

• you name appears on the child’s birth certificate.
• you admit to being the father of the child.
• a DNA test proves that you are the father.
• you were married to the Parent with Care at the time of conception or birth or, a declaration of parentage has been made.
• you refuse to take a DNA test.
If you do receive a letter from the CSA, and you have doubts that you are the father, it is important to write to them saying that you dispute paternity. Ideally, this should be done upon initial contact.
If paternity is disputed after an assessment has been made, the NRP has to make arrangements for organising a DNA test. If paternity is disputed from the outset, the onus is on the CSA to organise the DNA test.