CC Co. wont reduce payments

piper911

Hi - i've gotten into difficulty with both my CC's with the cost of repayment. Nobody's fault but mone of course, but i contacted them both, and asked for an absolute minimum payment. Both declined.

The reason for this was explained, and its because i used the cards when i was unemployed. I was made redundant, and the only reason i managed to pay my rent ( private tenant ) and eat was the CC's. Because of my age, plus being more or less unskilled, i found it incredibly difficult to find work, and during the 8 months of U/E, i couldnt sign unemployed due to my illegal tenancy.

Well eventually i found work, but the pay is pitiful. I take home less than £200 most of the time, overtime is NOT paid even if i work it, and in a blue moon, it sometimes creeps up to £210.

So if i start paying 5 per month off each card, rather than the £51 and £41 i should be paying, ( these are interest only figures, and wont decrease the debt ) will i end up in court, or with huge burly bailiffs kicking my door down to nick my telly and sofa ?

wayoflife

if you have gone over your credit limits then your card companies have every right todecline your request for lower payments

however once you are under your credit limit then you can pay the minimum payment

how much are owing on the cards?
what kind of difficulties are we talking about?
more information please so I can help

Cheers

egamar

There'll be some knowledgeable folks along soon to give you some real help. This is how the tragedy of debt begins - you can't pay enough even to cover the interest, and so your debts keep mounting no matter how hard you work.

Do NOT however take any advice from ANYONE on daytime TV (even if she does look pretty fit for her age) and get some real help from non-profit making official organisations.

You could start with the Citizens Advice Bureau (they have a website), and then there's something like the CCCCS (not to be confused with a bunch of sharks with a similar name).

You could do worse than looking through the excellent advice given to hundreds of folks in your situation on this site (ignroing the dross, please). The suggestions you are waiting for are already in here somewhere - the internet is not, despite what it sometimes seems, a write-only medium.

As I say: if you can't find what you want in the tens of thousands of posts here, someone who can really help will be along - stay calm, don't pancic.

GeorgeUK

Yikes!!

First thing you need to do is put a post on the debt-free-wannabe board. Link this thread to it (copy the address from the top). It looks like you need to go on a debt management program. Contact one of these companies NOW!!

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' http://www.citizensadvice.org.uk/ *** The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111 *** National Debtline - Tel: 0808 808 4000 *** Payplan - Tel: 0800 917 7823

(Thanks to fermi for the details)

You will probably need to provide a Statement of Affairs (SOA) - there is a guide here that you can use.
http://forums.moneysavingexpert.com/showthread.html?t=107280

Hopefully they will be able to get the banks to freeze interest and help set up a repayment program that will leave you enough to live off of. Even if you just call for an informal chat first, do it sooner rather than later.

good luck

piper911

Hi , and thanks people.

Ok, better answer the post about CC limit. Nope, i'm not over the limit. I never have been, ( on either of them ) and have never been late with payments on either card.

Current balance is ( rounding up/down ) £2200 on one card, £1800 on the other. CAB may be useful but since i can never get hold of them by phone, they cant really be an option.

The payments on both CC's are due in a week / 2 weeks, and i;m just going to start paying £5 on each. Theres no other way, and they'll have to accept it, or do their worst. I dont care about about getting CCJ'd, Bad debt list, or whatever. I'd much rather keep a roof over my head and put food on the table, ( and thats exactly what i did till i found work) and worry about the CC companies later.

You cant give what you havent got. I made a list of my outgoings and this of course does not include luxuries, of which there isnt any anyway. Its Rent, food for me and the dog, gas, leccy, water, TV licence monthly payment, motor ( which i need to be able to have a job ) and after all that i get left with about £30 a month.

I havent even been to have my regular dental checkup.

egamar

I can understand your frustration, but burying your head in the sand and paying a fiver a month is NOT the best course of action for you. You might as well spend the tenner a month of something useful.

Look up the opening hours of your local CAB - they sometimes open at odd times and phone - or visit - when they are open. If you have any annual holiday entitlement accrued, take a day off and visit them (make an appointment first so's no to waste your time).

Use one of the other services you've been advised of.

Do NOT GIVE UP and hope things will get better - they won't. You have to get someone working on your side to stop these debts spiralling and spiralling away.

Yes, it's a b*gger when these people only work during the day when you maybe have to be working every hour you can just to stand still, but you HAVE TO start working with someone!

GeorgeUK offered you some sound advice - I do hope you try it out .... Good Luck!

liz105

As far as Im aware all CC debt is unsecured so I dont think you can get a CCJ/Bailiffs. Someone please correct me if Im wrong.

piper911

Egamar - yes i agree with you, but at the moment i cant get to the CAB in person. Unless they work nights..
And paying them something isnt exactly burying my head. Ignoring them totally would be, but i'm not doing that at all. I've been in contact and asked for reductions, and explained things.

Perhaps i should send a letter to each CC company telling them what i'm going to pay and why, attaching a list of incomings and outgoings.

Court / bailiffs / CCJ's and whatever else, does not scare me. So if thats going to be their tactics, then fine.

sammyjammy

Thats exactly what you should do but if you post it on the debt free board first they will give you advice on how it will look to the creditors, I really feel for you, I think you're right to send the letter and tell them how much you can pay, what you should do though is work out the total you can afford and divide it equally according to who you owe what e.g. you owe 60% of the debt to CC1 which means they get 60% of what's available, the important thing to remember is they will accept this (maybe not straight away) for a short time only when they will want it reviewed so make sure you increase the payments as and when you can.

Good luck

Sam

piper911

yes i've posted on the debt free wannabee section as advised - thanks for the reminder.

Thanks for the sympathy ! But heck, i'm the one that got me into this, and i'm not looking for any. Nice of you all the same

Robflh

Hi piper911

Firstly, I am at a loss as to why your tenancy was illegal and secondly the council have a list of approved landlords. As I am one, I should know.

All you have to do is to go to your local council and tell them you will be homeless by the end of the month. Once you have filled in a few forms they will give you a list of approved landlords that currently have a vacancy.

You go and have a look at them and decide which one you like the best and if the landlord is willing to take you, you both have to do a bit of paperwork and then you can move in to your new accommodation.

Bearing in mind that you are on a low income and could be entitled to claim housing benefit, it may still be worthwhile contacting your local council. I am presuming that you cannot claim HB for the same reason you could not sign on. Interdentally, you do not have to be signing on to claim HB.

As for what you can and cannot afford to pay, we first need to se your SOA before we can help you with that. I would not even bother with the CAB at the moment.

The good news is that as you are working and you have more then one creditor you could go for an IVA (Individual Voluntary Agreement) but only if you have to. It is not a get out of jail free card but a last resort card, so you only use it if all else fails.

For the moment pay whatever you can off each credit card, as long as you are paying something each month it would look good to a judge, if it were to get that far but I do not think it will.

Don’t forget to post your SOA. http://forums.moneysavingexpert.com/....html?t=107280