Debt Free - Starting out - London

LondonDebtFree

Hi, Wow, I have just come across this forum and all the amazing advice here, you guys are true legends and actually give me hope that i can beocme debt free.

So here goes....... I have managed to rack up massive debts and are desperate to get them cleared and be debt free once and for all.

My debts are a mess but I am trying to get to grips with them. I have pretty much stuck my head in the sand for too long and now need to deal with this mess.

Debts as follows:

Sainsburys Personal Loan - £13,000 (CCJ and Charging Order in property)
Barclays Overdraft - £6,000 (Westcroft)
Barclaycard - £10,000 (Robinson Way)
Capital One - £3,000 (Cabot)
Tesco CC - £4,600 (Westcroft)
Nationwide CC - £8,500 (Was with Solicitors but now passed back to Nationwide)

PLUS £30,000 debt in the Middle East which I am trying to sort seperately!!! I managed to get out before they held me in Prison to get their money. Banks there work very differently....

I had Council Tax and Utility Bill Debts which I have cleared and totlaly on top of now - Paid £3,800.

My thinking is a DMP, self managed and to get the debts reduced as best I can. I want to agree monthly payments and get asmuch cleared as possible, as quickly as possible.

Some questions:

1. Do Creditors accept F&F settlements on a monthly payment plan basis? I asusme not but just checking.
2. Do F&F settlements get wiped off my credit history or do they remain there forever as debts not fully paid?
3. Any initial advice on how best to get my debts reduced and best wya to come to settle them?
4. Middle East / UAE Debts.... any idea how on earth to go about that adn where to take advice?

Thanks so much - any help, advice, hints / tips would be GREATLY appreciated.

sourcrates

Hi,

Take a look in the sticky threads at the top of the forum, look for SOA (statement of affairs) calculator, from stoozing.com, fill it in as accurately as you can, then format for MSE and post on here.

We need to see the full picture before we can make constructive comments.

Note, we can only advise on uk based debts, as you are aware the laws are very different in the Middle East.

kangoora

Well, obviously don't go to the Middle East until they are sorted and, furthermore, don't ever take a flight that uses a Middle East connection/change-over so that rules out holidays pretty much anywhere east of Turkey/Greece. I'd even be very wary about direct flights over that region just in case, by some unlucky coincidence, the plane had to make an emergency landing/detour.