help with debt

heidiprincess13

Hi all.

I am hoping someone can help me and get my debt gone!!

I was coping ok, but now I am a carer to my son and I am not working. I am constantly in my overdraft and I am only paying the min payment on 3 credit cards.

I have just applied for a loan with my bank (tsb) and computer said NO.

I have just opened an basic current account so I can see what money I get and not seeing it being eaten up by my overdraft all the time.

What options have I got??? for example I owe £1600 on a credit card and the only card I can be accepted for is Aqua and I can do a balance transfer but the limit on the aqua is £900 and now I'm just so confused.

any help would be much appreciated as this is really getting me down now. TIA

Guest101

Debt Management Plan?


Are you claiming everything your entitled to?

sourcrates

Hi,

Forget about balance transfers and further borrowing, thats not the way to deal with your debts.

As your not working, i assume your only income is benefits, if thats the case you should cease all non essential credit payments straight away, or reduce them to £1 each per month.

Make sure your essential bills are paid, essential bills are classed as :

Mortgage/rent
Council tax
Utility bills
Food
Any other essential payments.

Bottom of the list comes unsecured credit payments.

Have a look on the stepchange website (address is in my signature)
see which options are open to you, for example, if a non homeowner, a DRO (Debt relief order) may work for you, otherwise a DMP (Debt management plan) may be in order, depends on your debt level and your personal circumstances.

Have a look and see, in the meantime, post up an SOA (Statement of affairs) dont forget to format for MSE, and you will get more advice relative to your situation :

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

StopIt

You need to post a full SOA, and then work from there.


From previous posts, you had an issue with a potential CCJ and your partner had a work limiting injury and you were looking into ESA? Has either of these been progressed.

DCFC79

Post an SOA and you will get help.

What I will say is you need a strong will to stick to the plan, not buying stuff you can do without.