Newbie with help needed

Stiffler_2

Sorry if this is in the wrong section.

Just signed up as I'm in desperate help with some debt it's not astronomical but it's affecting my life badly. It all started about 2 or so years ago I remortgaged the house to do some desperately needed home improvements mortgage started @ £49k and went up to £65k unfortunately it wasn't enough so I got a short term loan with amigo to cover the shortfall which in time has left me short some months so I then got a payday loan stupidly on my part. To cut a long story short ive now got 4 of them on the go and I'm no longer able to cope I know I'm stupid and it's all down to me I'm just looking for some advice and help in the right direction. I can't tell my partner as she is stressful enough and we have a you girl 15mnths old and she would probably leave me. I've not got a good credit rating so the mainstream lenders won't look at me. Would I be able to speak to my bank? would they be able to offer me a solution (Santander) sorry for the long post but I really don't know where to turn. Thanks in advance.

sankeylindsey1977

Hi, I'm relatively new to posting on here, but not new to debt!:(

First off, and not to sound patronising, but well done for facing up to this debt. I know I felt relieved when I did my first post, listing all my debts!

I think you need to speak to the CCCS as soon as you can, once they have all your details they can give you the best advice, another loan is not always the best option.

With regards for not telling your partner, I think you need to. She may be mad at first but I'm very sure you will be able to work it out, it wouldn't be fair to hide things from her and the stress you will put yourself under by hiding these things will tell in time and may affect your relationship. It's not the end of the world and you can sort this out.

Please let us know how you go on. Best of luck and take care

Stiffler_2

Hi thanks for the reply. As you can tell I'm pretty stressed I honestly don't think it's wise at the moment to tell my partner I really would like to have a plan in place or make some inroads to getting sorted before telling her. Sorry but what is the cccs? I have a fairly good income but since my partner had our child she has gone from full time to only 2 days a week which does put a bit more strain on me but with it we should still be able to live comfortably. If I could get a loan to put all my debts in one manageable place (car finance/payday loan/small loan etc) I would be able to manage easier but I do agree another loan isn't the best idea being debt free would be the goal.

sankeylindsey1977

Hi, if you google step change this will take you to the website. (I can't post links yet as I'm a new user) . they will offer you free advice and will be able to help with speaking to your creditors for you and maybe arranging a debt management plan so you're not taking on more credit and ending up with less money every month in a vicious circle.


Don't get tempted to use a fee charging debt management plan such as debt reverse. I made that mistake and of the £80 i pay only £60 goes to my creditors!! That's on my 'to deal with' list this weekend, to get rid of them and either use a different dmp (free one!) or pay direct myself.

Good luck x

Stiffler_2

Thanks for the advice I'm a bit wary of these debt management plan things.

Changingme

Hi if you go to the fourth sticky down on the main page you can do a statement of affairs[SOA] the people can help with making cuts and ways to help.:)

Stiffler_2

Ive just completed my SOA and will post shortly thanks for the help so far people. Can anyone help regarding my payday loan dilemma they are huge payments coming out on my bank on tue which will leave me broke can anyone help?

Pickle49

Hi
I'm a newbie myself. Done my first post yesterday in a desperate mood and was heartened and cheered by the response. Nothing has changed since yesterday, I'm still in massive debt that my OH doesn't know about, but I am facing it and am definately going to tell him in the next 48 hours.
I know nothing about payday loans and am finding a lot of the 'lingo' on here confusing...SOA's CCC's ..sealed pot challenges..etc etc, so I can't offer any constructive advice but I can say that you are not alone, there are so many thousands and thousands of people in the same situation and a lot of them hiding it from others which just adds to the stress of the debt itself. Unless you've accrued the debts through selfish reasons ( lads holidays :rotfl:) I'm guessing they were used on just normal things that would make your lives easier/nicer/better ....I think most of us are guilty of that and making a few poor decisions for you both is not unforgivable and I hope that your partner ( and mine ) will understand that.
I'm sure I've seen on here somewhere a whole thread on payday loans...try the search forums options.

clairey_em

Hiya, cccs is a free charity who help you with your debt problems, they offer very good advice and will not necessarily want to set you up with dmp. They are now known as step change. I would definitely advise you to ring them for some advice, in fact there's a sticky at the top of the bored where you can ask a question to a step change representative.

Re you pdls (pay day loans!) I am not an expert but there are many threads on here about people who have problems with them, you're not alone. There has been plenty of great advice given re tackling them, so worth finding them. I think you can ring them, or check on their websites to set up repayment plans should you be having difficulties. I think people will also tell you to clear your current account, or at least the account the loans come out of as if you take no action and then not pay they may well clear your account. Awful but true. Def see if you can set up repayment plans ASAP.

Good luck, it's the weekend so expect people are busy but they will be along to offer you some fab advice xx

Killick

Is there a list of all these SOA's, NSD, CCC's ..sealed pot challenges..etc etc?. I too get a bit confused by them

Stiffler_2

I'm still wary of the dmp I really need help ASAP can't sleep or eat!