First Step Taken

chipbeck

OK not earth shattering but it made me feel that at least I've started. Lloyds didn't pay any of my DD's last month and have charged me £1200 over the last two months for the privilege.
Talked to their collections in India and she said they were prepared to let me pay off the last charges for £700 in installments if I gave them my debit card. Bloody nice of em so I've just handed it in. (I will of course try and reclaim these ridiculous charges in due time).
Anyway need to know what to do now, the fact is I've cancelled all my DD's with Lloyds and will not be able to set them up again until the 22nd of October (I'll be back inside my od facility with Lloyds then. Fair play they haven't withdrawn the facility.
Is it worth me ringing my creditors and trying to explain the situation to them? I really need to ask some of them if I can reduce my payments for a while until I get a more stable financial situation. I really don't want to go down the IVA route as the situation is nobodys fault but mine and I want to pay back what I owe.
It's going to be a long haul but I know if there is anywhere I will get honest and good advice it's on here as I know many of you will have been in the same situation at some stage.

cheers

Kevicho

I think you are spot on, you need to contact the creditors and keep them informed.

Id proceed with trying to reclaim these charges now and look for another bank, some courts will put these claims through at the moment, so if the banks dont appear then you will be awarded the money back.

trying-very-trying

I would be wondering what has caused you to reach this point??
You mention an iva, but that may not be your only option.

chipbeck

trying-very-trying wrote: »

I would be wondering what has caused you to reach this point??
You mention an iva, but that may not be your only option.

Got into trouble thinking I could make a fortune on-line gambling.....you can't or rather I can't. Very difficult thing to pack in but I think I've managed it now.
Do you think I'm in cloud cuckoo land if I think my creditors will come to an arrangement whereby I can pay them their money back over an extended period or is this a possiblity.

floss2

If you don't ask, you'll never find out - if they say no, you're no worse off than you are at the moment.

Good luck!

trying-very-trying

chipbeck wrote: »

Got into trouble thinking I could make a fortune on-line gambling.....you can't or rather I can't. Very difficult thing to pack in but I think I've managed it now.
Do you think I'm in cloud cuckoo land if I think my creditors will come to an arrangement whereby I can pay them their money back over an extended period or is this a possiblity.

You haven't stated how much your debts total, but maybe you should look at the free debt charity websites i.e payplan cccs nationaldebtline or cab to see what your options are.

trying-very-trying

start here https://www.moneysavingexpert.com/banking/Budget-planning there's loads of links if your budget comes out in red. hth.