Help

lindzl00

Hi all
Well today is the day that i faced up to how much debt i have (after getting a bill in for £1996.13). have spent the day calling my bank (funny how they dont want to talk to you whe you need help) and looking at bank statments, my head is swimming and i dont know where to or how to start getting myself back on my feet.
Debt stands at 35,000

Help

immoral_angeluk

HI and welcome to MSE.... Please don't panic there is so many people on here who can offer great advice and support so make a cup of tea, sit down and take 5 mins to breathe.

First of all what kind of state are your finances in? Are you making repayments or are you missing them? Have you defaulted or are you just about scraping through? If you can detail the debts and their status it'll make the picture a bit clearer for us...

art_student

Don't panic! Now that you're on here you will get loads of advice and support to help you deal with your finances.
Have a look at the sticky thread for newbies posted by southernscouser on the top of the DFW board and do a statement of affairs. Then people will be able to give you much more informed advice and you'll feel much more in control of the situation.
Good luck!

lindzl00

Hi

Ok this is what i have so far
Council tax £1996.14 (this is out of my hands and has been passed to a debt agency) i have called them and they want £300.00 a month min, i have told them i cant aford this they said not there problem (there was lots of tears on my part) they have scared me silly.
£960.00 council tax arr from last year need to pay this in full to them before the council will accept my DD £120.00 for this years money. really stuck here
Aftercare for my 2 kids £700.00 (meant to be £70.00 a week) as you can see so far the bills are drowning me.
Over paymeant of working tax credits £3785.14, i have called and spoke to them i gave them a basic break down and they are saying i can pay that back @ 30.00 a month (but thats going to take me years to pay back)
bank loan £800.00 left @ 110.00 a month


Rent ok paid in full
gas ok paid in full
elec ok paid in full

there is more but @ the moment my head is spinning and i cant think straight

dubgirl

hi and welcome, if it is any consulation, I have debts of over £40,000 and with MSE help, I have learnt to deal with my debts and sleep at night. Have you looked at Southern Scousers sticky on posting your SOA. there will be plenty of other posters that will be able to help you look at your repayments and how you can make cutbacks.

gravitytolls

Gather absolutely everything, all your bills, statements, and anything else you've got.

Get yourself down to the CAB. They'll tell you what to do initially, and make ou an appointment with a debt counsellor. They will also check you're in receipt of all benefits you're entitled to, and make an appointment with a benefits advisor if applicable.

The meeting with the counsellor will be long and indepth. They are completely non judgemental, and extremely helpful. They will take copies of all your paperwork, work out pro rata payment ofers, and contact creditors on your behalf.

Most creditors are very willing to work with debt counsdelling services, as it shows that you are trying to get sorted, rather than simply avoid payment. They also know the counselors have no financial or any other incentive to make offers less than you can realistically afford, not over estimate.

Payplan and the CCCS offer a similar service, but everything is done via the internet, phone and post. Personally, I found that seeing someone very comforting face to face, and being able to hand it all over to them was completely invaluable, as I'd reached a point where I'd rather have run away than face repeating my tale of woe to different creditors over and over again.

lindzl00

:embarasse:embarasse:embarasseIm hoping tonight i may sleep, opening my eyes to my problems is the 1st step..right??

chevalier

You must have a really hard council is all I can say. There have been plenty of people on here who are paying back a monthly amount for council tax arrears. Call them again and explain that you can't pay it all at once but are willing to pay x. PS you can ask for your council tax to be paid over 12 months not 10 as well.

I am not criticising but how have you got so behind with your payments? I don't know whether, with children you might qualify for a crisis loan from the social? Are you in a union? If so there may be a hardship fund to help, or free financial advice from them.

I look forward to your statement of affairs. I am sure we can help.

Ref the debt agency. They can say what they like. If you send them a statement of affairs saying you can pay x, and enclose the first payment, then there is little they can do. You just have to keep paying x and tell them you can't afford more. Don't agree to more than you can afford
chev

joeblack066

Hi just wanted to say welcome, you are in the right place and will get all the advice and support that you need here. Well done for taking the first steps!

angelavdavis

Hi and welcome to MSE

People on here are ready to help.

As this is clearly upsetting you hugely, I suggest you go to your GP and get him to write a letter to the council confirming that you have got stress associated with your financial situation.

I then suggest you write a letter to the council (ignore the debt collection agency), reiterating that you are prepared to pay them £x per month and enclose the gp letter and send registered. I would also keep a photocopy of the gp letter in case. No council in the land will pressure you if you have health problems associated with the debts.

I do think though that it will help you enormously if you sit down with all the bills and list out what you owe, your other outgoings, etc. As mentioned, SouthernScousers sticky post will guide you through what you need to do:

http://forums.moneysavingexpert.com/showthread.html?t=107280

Once you post your SOA up on here, the good folks here can pinpoint areas where you can look to save money to throw at the debts.