consolidate or not? please help

kbh4031

I have 11 depts in total amounting to £6600. I have been paying most of these by token payments, just to stop them taking me to court. But it has been going on so long im now afraid to answer the door, just incase some baliffs turn up.
I am currently on benefits, but after November hopefully my business should be up and running and i will be self sufficient.
Kensington finance have contacted me today to offer my dept consolidation for the £6600, which would amount to £180 pr month- £31.72 being their management fee. This would mean i would be dept free in 3yrs and 8 mths.
should i go for this? my other option is to keep paying token payments and hope my business does well and i can manage payments myself??

Advice really appreciated

Thanks Kelly x

Jacks_xxx

Hiya Kelly,

Don't touch it with a barge pole honeybun!

Here are a list of places to go to for FREE help plus a CAB advice guide that I found quite helpful.

http://www.nationaldebtline.co.uk/england_wales/

http://www.cccs.co.uk/

http://www.citizensadvice.org.uk/index/getadvice.htm#searchbox

http://www.adviceguide.org.uk/index/life/debt/help_with_debt.htm

I know it feels like a relief to have the chance to hand off responsibiity for your debts to a debt company but once they've got their claws into you you'll be paying them for life.

It's late now and there's not that many of us about, but if you come back to this thread in the morning you'll have loads of help I promise.

If you click on thread tools above you can subscribe to the thread and get an email very time somebody responds.

Don't panic hon, there's always a solution.

Hugs,

Love Jacks xxx

PS I totally nicked all this from Fermi's sig cos phone numbers might be more use to you

Professional, free and impartial advice on debt problems can be obtained from several charitable and 'not for profit' organisations. They never make a penny from the advice they give, which means it will be given with only your best interests at heart. You can contact:

Your local CAB Office and ask to speak to a 'money advisor'.*** The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 *** National Debtline - Tel: 0800 808 4000 *** Payplan - Tel: 0800 917 7823

kbh4031

Thanks so much for this Jacks, I just found this out

Creditors often threaten bailiff action, however they can only enforce it if you have defaulted on a County Court Judgment (CCJ).

I havent any CCJs as yet, so thats a big weight off my mind.
Will keep on researching to see if i can sort this mess out myself, without this dept management scheme.

How ever did I get in this sorry mess....??

Kelly x

RAS

Hi

You need to look at these guidelines and write and complain listing the relevant section.

Send the letters recorded delivery and send copies to the OFT, FSA and the Trading Standards closest to the DCa's office

Starting points are look at the OFT Guidelines, which this lot are breaking royally. (Thanks Rog2)


It is against the OFT guidelines on Debt Collection, for a Debt Collection Agency to threaten action which they cannot take, make repeated phone call or refuse a reasonable offer.

http://www.oft.gov.uk/shared_oft/bus...dit/oft664.pdf

RAS

You other step would be to post up your SOA and people can help you reduce your spends or organise your debt payments more effectively.

see her

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

kbh4031

Thanks Ras will post my SOA

X