Help please - worried sick (cc)

stressedoutmommy

Hello, newbie here i'm afraid. I've been a lurker for a while but needed to post as looking for help/advice.

I have a L-TSB credit card - I've had it 2 years now (after my ex and I split up I had to move to rented accomodation and the council weren't very forthcoming with help).

My CC was mainly used for bills & rent etc to help keep me afloat. Its now 2 years on and I owe just over £4000!!

I work 22hours (due to childcare) and my partner is a full time student at college.

L-TSB have now sent me a letter (from SCM Solicitors) stating I need to pay back the full amount. I've worked out our incomings and outgoings and I'm left with £9.73 a month after everything is paid. I'm so worried, I've tried speaking to L_TSB before who were surprise surprise very unhelpful

Any help and advice please?

dancingfairy

I would write to them and set out your plans for repayment. Explain you can't afford to repay in full straight away but you will pay what you can. Also try and set up a standing order for this amount each month so they can see you will stick by your promise.
If you haven't got the money to repay them, then you haven't got the money. Yes, they can send you threatening letters and take you to court but a judge can't make you pay what you don't have. You can't get blood out of a stone. If things are as tight as you say it is very likely a judge will agree to your payment plan of 5 to 7.50 a month.
Best of Luck
df

Tixy

Hi and welcome to the forum

Agree with df that you will need to write to them and offer them a repayment plan you can afford.

It might be worth posting up a statement of affairs (your income/outgoings etc) on here as people may be able to help suggest ways you can get things cheaper/cut back etc so that you can afford to offer the bank a slightly larger repayment plan each month.

http://www.stoozing.com/calculator/soa.php

Have you checked you are getting all the benefits you are entitled to?

fatbelly

Hope you've not got your main bank account with Lloyds.

happy_bunny_2

Agreed. Write to them, keep a copy along with any replies so you can prove how unhelpful they have been should it be required.

runforlife

I would also include a list of your budget income and expenditure. There are some good planners on the Stepchange and Christians against Poverty (CAP) for starters.