Struggling with debt? Ask a debt advisor a question

System

viki61 wrote: »

Hi,

My husband and I have been in a DMP for a number of years now. Due to having a car on finance I'm under the impression we can't have an IVA depending on the value of the car. What I'd like to do is have a DMP with a company who don't charge for the service we have been paying for years and it doesn't feel as though we are really getting anywhere with it. Can anyone tell me of a good company who don't charge for offering their services. I've just started a new job and can probably up our payments a little but I'm keen to move from the current DMP company.

Any advice would be much appreciated.

Thank you.

Hi and thanks for your post.

We don’t charge anything for our DMPs, they’re totally free of charge so that all the money you pay in goes towards your debts.

In regards to cars and IVAs it would depend on the value of the vehicle, although each IVA is different and looked at on a case by case basis.

I’d recommend that you try our online debt advice tool Debt Remedy

It will guide you through the process and explain the best solution for you and also explain all your options. A personal action plan would be provided for you that will explain your next steps.

I hope this helps.

Kind regards,

Mat

System

kaybt wrote: »

A debt advisor advised us to get an iva. Not sure if charity led one hence why i am calling for backup ideas. Waiting for your one advised on here to call back but that wont b till tues.

V v v approx figures are

In 1800.00 per month in wage . 135.00 child benefit

Got hp car 235.00 pm o/s 8.000 approx
Cc x 3 about 150 ish to pay out pm still awaiting min paqyment.balance of about 6/7000.00
Loan 184.0pm 8000.00 o/s
Studio catalogue 10.00 pm 86.00 os
Argos 30.00 pm 900 os
Sofa 76.pm with about 450.00 left (yay)
Littlewoods 60 pm 2500.00 o/s

Owe british gas 565.00
Think thats it

Then regular bills off my heas this id v rough as not near comp

Rent 600
Ct 116
Tv 12.12
Water 30
SKY 26.00
CAR INS 60.00
Electric phone and broadband 100.00



Will check and edit another post to make more accurate but... what would u do? Basically we have lost my income hence the struggle am currently on mat leave and mat pay has ended but will cost me to go backaswell as two under two so will need to pay for childcare which is at least half my wage if one goes to my moms xx

What is a dmp please and if we take out this iva. After six years.. whats our records going ti be like and if we do di it will we be allowed ti save without that being taken away?

Hi and thanks for your post.

If we’ve advised an IVA I’d recommend that you get your questions together and speak to the advisor when they call, they’ll have access to all your details (I’m assuming the advisor is from StepChange Debt Charity and not somewhere else).

The advisors will also explain all options open to you including other options beyond an IVA.

For some reading about IVAs and DMPs try this http://moneyaware.co.uk/2011/07/12-differences-between-an-iva-and-a-dmp/

An IVA will be on your credit file for six years from the date it’s approved, once the six years passes the IVA will no longer be registered. You’d then need to rebuild your credit rating after this. This article explains how to do that http://moneyaware.co.uk/2012/05/how-to-clean-up-your-credit-file-after-an-iva/

If you have any more questions prior to our call please get back to me.

I hope this helps.

Kind regards,

Mat

leedspete_2

Can i just ask why Very are adamant that they cannot lower my repayments but talking to stepchange or getting a dmp will lower it. Doesn't make sense to me.They are the only people who are adamant that they will not help me in any way,shape or form.It is very fustrating

Peter

kaybt

I was online chatting to adviser jonthan tonight who has sorted me out a plan. I was disconnected when waiting for a response to my last question. and cannot connect again
SO i have plan starting in july
but until then
what can i do with any direct debits i cant afford to pay with what is left in the bank right now? do i contact them. leave it? what?

help appreciated

oh and i also wanted to copy my chat so i could keep it to read through but ive lost it now unless they keep the copy?


Thanks

rizzlekizzle

Hi ,

please can someone give me some advise!! i am on the brink...

my wife and i own a house which we have moved out of as we were on the brink of having a nervous breakdown due to it being on a horrible road surrounded by drug dealers and scum of the earth.
we managed to rent it out and got NRAM's permission to do so.. unfortuantly our tenants keep moving and although we were lucky for a time and managed to get new ones, our last ones have left and the house is now empty....
the problem comes is that my wife and i simply cant live back there, its not safe,, but NRAM now refuse to let us rent it out, have moved us onto repayment only and we now owe £4k... we are on a together mortgage and owe £135k but the house is only worth £85k (ive had an estate agent give us this figure..)...... im now getting demands from the council to pay council tax on it...

we do work but we also have 2 kids, lots of other debts and just about trying to keep our head above water...... please help....................................................................... do i let it get repossed, do i pay it off, NRAM wont budge.................:mad:

sorry if this is on the wrong place but i am desperate and just want to cry.. I hate NRAM..........

cleanslateguy

Hi.

I have a pretty straight forward one for you if I could please have some "guidance".

£6000 loan taken out in 2007.
PPI then refunded after mis-selling
Loan then changed to different agreement
I did not sign new agreement. they changed the interest rate too.
Bank charged to high hell for constant small amounts overdrawn £35 per time
£900 or so in charges causing me to not be able to pay my loan
Bank account defaulted by Halifax first in 2009
2009 Loan defaulted also
Constant chase by debt collecting agencies
My Bank account which was defaulted was then reopened by them to carry on charging me for being overdrawn. Is this even legal?
2013 - I want to get this resolved and be clean.
They never threatened to take me to court

Should I:

1. write to resolve in a humane manner?
2. wait til 6 years has passed (2015) and get Experian cleaned?

Ideally I would like to pay a reduced amount. Can I still write to Halifax despite them having "sold the loan"? Surely it's in the interest for Halifax to have my money rather than Shady & Sons Credit Collection?

Would very much appreciate response with what to do.

Kindest regards

mum2one

kaybt wrote: »

I was online chatting to adviser jonthan tonight who has sorted me out a plan. I was disconnected when waiting for a response to my last question. and cannot connect again
SO i have plan starting in july
but until then
what can i do with any direct debits i cant afford to pay with what is left in the bank right now? do i contact them. leave it? what?

help appreciated

oh and i also wanted to copy my chat so i could keep it to read through but ive lost it now unless they keep the copy?


Thanks

Do you have access to online banking - if you get all the direct debits cancelled asap.

Stepchange are brilliant, - there send you a plan downloaded and there be template letter to send to all your creditors - copy and paste - add your details in the gaps. This tells them your taking advice from a regulated company, - and for this month the companies you should be paying (credit cards etc) send a token payment to the companies, - whether that is £1, £5, £10 - it shows a goodwill gesture till things get sorted.

hope that helps till you can get hold of someone back from stepchange xx

mum2one

rizzlekizzle wrote: »

Hi ,

please can someone give me some advise!! i am on the brink...

my wife and i own a house which we have moved out of as we were on the brink of having a nervous breakdown due to it being on a horrible road surrounded by drug dealers and scum of the earth.
we managed to rent it out and got NRAM's permission to do so.. unfortuantly our tenants keep moving and although we were lucky for a time and managed to get new ones, our last ones have left and the house is now empty....
the problem comes is that my wife and i simply cant live back there, its not safe,, but NRAM now refuse to let us rent it out, have moved us onto repayment only and we now owe £4k... we are on a together mortgage and owe £135k but the house is only worth £85k (ive had an estate agent give us this figure..)...... im now getting demands from the council to pay council tax on it...

we do work but we also have 2 kids, lots of other debts and just about trying to keep our head above water...... please help....................................................................... do i let it get repossed, do i pay it off, NRAM wont budge.................:mad:

sorry if this is on the wrong place but i am desperate and just want to cry.. I hate NRAM..........

Your bets bet would be do a budget for your incomings and outgoings - and speak to someone at Stepchange - they should be able to help you budget wise and put you on the right track x

millygdy

Hi i have just entered a financial management plan. one of my debts is a credit card with santander in my name. we have two joint current accounts with santander can they take money to offset the credit card in my name from the joint account or is it protected as its in both our names? unsure if i need to change bank account.

thankyou

mum2one

millygdy wrote: »

Hi i have just entered a financial management plan. one of my debts is a credit card with santander in my name. we have two joint current accounts with santander can they take money to offset the credit card in my name from the joint account or is it protected as its in both our names? unsure if i need to change bank account.

thankyou

I'm 99% sure that they could take the money even if it is a joint account, x