debt help please

LannieDuck

desperado88 wrote: »

thanks again everyone for all your kind replies... going to see cab tommorow to discuss my options,i just wish i could do it on my own without going down the dmp route.... i feel that i could be working more,i have four days off every week cant get overtime but feel if i could just get another couple of hundred a month i could deal with it myself i feel as if i have failed everyone by doing a dmp.
sorry for rambling but i feel so helpless just now.

That's a very noble approach to dealing with your debts. Could you get a second job on those days off? If it won't exhaust you, it would certainly help with paying everything off. What sort of work do you do, or could you take on something completely different (e.g. a couple of shifts in a supermarket / a small bit of gardening)?

However, it would need to be in conjunction with maintaining your finances properly too - no point working two jobs if you're still spending more than you earn.

desperado88

So cab tommorow to see about the das options but going by the figures i posted does anyone think i have a chance getting that other job and seriously cutting back my finances?
just curious is it possible?:(

blisteringblue

With the One Account and an RBS credit card if you have anything available in your one account facility then they are likely to apply that to the credit card.

We have a One Account too which really was the wrong account for us because with all the good initial intentions it's half the reason we are so much in debt. 0% cards to offset on the mortgage and then not having the facility to pay them back because we had spent it. Plus they don't track base rate which we used to have :mad:

Anyway, in our case we were quite fortunate in the only RBS debt we have is the One Account so we can carry on using it because it still is a handy account for various virtual "pots" of money that can help with the budgeting while reducing the mortgage payments. I did check with Stepchange though, but you are not going the stepchange route are you?

desperado88

blisteringblue wrote: »

With the One Account and an RBS credit card if you have anything available in your one account facility then they are likely to apply that to the credit card.

We have a One Account too which really was the wrong account for us because with all the good initial intentions it's half the reason we are so much in debt. 0% cards to offset on the mortgage and then not having the facility to pay them back because we had spent it. Plus they don't track base rate which we used to have :mad:

Anyway, in our case we were quite fortunate in the only RBS debt we have is the One Account so we can carry on using it because it still is a handy account for various virtual "pots" of money that can help with the budgeting while reducing the mortgage payments. I did check with Stepchange though, but you are not going the stepchange route are you?

Stepchange still might be seriously looking at my options now awaiting a callback from a second job so will see.... as for that one account i have about a grand in there but they would,nt release any of it as they said i could,nt afford it,lol my money supposably,probably just as well as i might have spent it too.

runforlife

Ah, fighting the DMP. I remember that. Last June I fought it but oh so wish I had done it then. Life is so much better and now I have a different, totally different, approach to credit - which I prefer to say 'debt'. Good luck with CAB. Keep coming back here for more support. All the best.

desperado88

Right heres the thing,it cant be this easy...if i do a DAS and they freeze the interest i can pay offmy debt in say 6-7 years ,then all i need to pay is my mortgage...suffer some phone calls and letters and have no credit for 7 years ,its cant be that simple,can it i was thinking of selling my house i am that desperate!

thecassman86

desperado88 wrote: »

Right heres the thing,it cant be this easy...if i do a DAS and they freeze the interest i can pay offmy debt in say 6-7 years ,then all i need to pay is my mortgage...suffer some phone calls and letters and have no credit for 7 years ,its cant be that simple,can it i was thinking of selling my house i am that desperate!

It's genuinely amazing how much impact interest plays on debts. Remember, it's a percentage of what you OWE not what you PAY, so when you're talking about large debts it incurs £1000's of interest each year! Once that interest is frozen and you're only attacking the debts then it clears up surprisingly quickly

Out of interest, what was the agreed payment that you'll be making to DAS?

desperado88

thecassman86 wrote: »

It's genuinely amazing how much impact interest plays on debts. Remember, it's a percentage of what you OWE not what you PAY, so when you're talking about large debts it incurs £1000's of interest each year! Once that interest is frozen and you're only attacking the debts then it clears up surprisingly quickly

Out of interest, what was the agreed payment that you'll be making to DAS?

Have,nt ageeed yet cassman ,just going by that stepchange questionare ,cant belive it could be that simple ,i mean dont they hassle you every day,fed up being. A cash cow to these cc companys and at this rate i will be pauing all my life?

desperado88

Heres a thing will they take my sons benicits into the equasion when they are call ulating a payment and will they leave me enough money to have any kind of decent life:

Sorry iam typing this on a phone at work (bad pellin)

lizzy23

desperado88 wrote: »

Right heres the thing,it cant be this easy...if i do a DAS and they freeze the interest i can pay offmy debt in say 6-7 years ,then all i need to pay is my mortgage...suffer some phone calls and letters and have no credit for 7 years ,its cant be that simple,can it i was thinking of selling my house i am that desperate!

yes it is that easy, i have been on a DMP (similar to DAS) for nearly 18 months, i had 2 phonecalls right at the beginning, from M & S who were very understanding, we had 9 creditors, all interest has been frozen, and i have now paid off over £6 k of a 33K debt , set a realistic budget, if you dont smoke, you do now, meals at work clothes etc etc all can be put in there, if i'm honest we have more of a life now than we had in the last 4 years or so before our DMP, we go on hols, but they're in the caravan and saved for, we have money for entertainment, and do you know what the best thing is,,,,,, that its all paid for , as i said previously living without credit ia actually quiet liberating