What to do?

Taffybeast

Hi Guys and Gals,
First Timer so be gentle.

I have approx 30k of various insecured debt loan, credit cards etc and have been struggling to pay my minimum payments. I haven't fallen behind as yet but its only a matter of time.

I have contacted CCS via internet today but just wanted to know from those who are using this ,if it is a good idea for me as I have just had a loan company basically wishing me good luck "because I'm going to need it"

I have so many questions:

How badly will my credit rating be effected?
and for how long ?
Will it effect my wifes rating ?

Is it right I'll have to close my bank accounts ?

Is it right I just send off the leeters and leave it to them as it seems far to easy?

Reading your threads I can see that there is a wealth of experience and knowledge there so I just wanted to tap into this.

Sorry to bore you but need some guidance!!

CLAPTON

your debts will be defaulted so your credit rating will be trashed for 6 years

if you have joint a/cs with your wife then she will be financially linked to you and yes her credit rating will be adversely affected.

if you owe money to your bank (either OD or credit card/ loan ) then you will need to open a new basic bank a/c usually without OD or cheque book facility with a bank that you have no debts with.

you will probably be harrassed by some of your creditors for a few months that can be very unpleasant but they stop eventually