A Bit Of Advice Please?

jojo8787

Hiya.. OK long story here, so here goes...

I'v got debts amounting to approx £7000
They are all unsecured
The details and status of them all follow

Lloyds debit card (unauthorised overdraft £250 per month interest, have several repayment plans, defaulted on all, are demanding full repayment,refusing to stop interest and charges, havent made a payment in 3-4 months, 4 - 5 letters a week, 10 - 20 calls a week, threatening court) TOTAL £3400

Llyods credit card (paying at £5 per month all interest and charges frozen) TOTAL £1000 :T

NHS (debt with control accounts plc, threatening court action immediately etc etc. have had a repayment plan with them, but defaulted, havent made a payment in 4 months, hounding me with calls and threatening letters) TOTAL £680

Simply be catalogue (mmp of £50, have not paid for 2 months, good payment history with these,applying charges of £12 per month, wants a payment of £70 now) TOTAL £500

LX Catalogue (with natiowide debt recovery now, had a repayment plan, but defaulted, asking for most of the £380 debt back immediately.havent made payment in 2-3 months.) TOTAL £380

Capital one (these !!!!!!s are charging me something like £35 a month interest, original debt of £200 with them, the debt is now £350, they are harrasing me with phone calls, up to 15 a day, letters are up to 5 a week, and they wont respond to my letters, wont acept repayment plan, want £200 minimum payment. havent paid in 3 months)

Littlewoods catalogue (havent paid in 3 months, charging me £12 a month interest, constant letters, no court action thretended yet, although they are demainding the whole amount back, have had a repayment plan with them, and are refusing to give another one)

Ok so there we have it. I have just started a great new job, as an apprentice, although for the first two years, i will only have £30 a month spare. i wrote to them all and offered payments to them if they froze interest and they all ignored or declined apart from my llyods credit card, which is now sorted. i am at my wits end. i have saught help from CAB, and the CCCS, but they both have said they cant help me other than write letters to them. I have tried this and have had no luck. im getting around 40 calls a week, and around 15 letters, all of which i ignore, (as im at work, and i did explain this on my letter!)

Iv been to several debt managemtne companies, who are all suggesting i go bankrupt.

I dont know what to do. the main one that is worrying me is the big llyods debt. i dont know how to deal with them any more?

Any help or advice is gretaly appreciated.

Thanks

postingalwaysposting

jojo, you need a plan of action in order to sort your debts out. I am not sure just yet if bankruptcy will be better for you in the long run however to find out we need to know how much spare you have to put towards your debt each month. To do this fill in a soa (see ss sticky in the new post threads at the top of the forums) including all your monthly incomings and outgoings.

Once you know what spare you have you can enter all your debt details and the money you ahev to throw at them here http://www.whatsthecost.com/snowball.aspx?country=us, its called a snowball calculater. Basically its sorts your debts into the best way to pay while still making min payments. Handy little tool.

However also when you post your soa most regular posters can take a look at it and see if you can sut back on things that may give you that little more to throw at your debts. Then there is also ebay/quidco/survays/aqa etc to make extra income along side you main job. These do take time to complete/do however the money you get back from them even though its small it will pay that little bit more off your debt and get your debt free date closer.

Also there are the free debt management companies you can go to and ask for advice/help to manage your debts. Please make sure its a free companie however and be honest with them, if you are honest with them they will be honest with you. The companys are cccs http://www.cccs.co.uk/, payplan http://www.payplan.com/ & cab http://www.citizensadvice.org.uk/.

Mostly dont give up, we are here from you. most of us have been in your posistion now and all of us are now debt free or much better off thanks to this site ~ you are at a good place

Take care

cat4772

jojo

Why not post your full SOA (see MSE andreas sticky at the top of this thread) and then check out info for new posters. If we have your full income and outgoings, APRs charged, balances etc then I'm sure we'll be able to offer some advice.

Before you do anything though, make a cuppa and drink it. Once you've posted your SOA have another cuppa. If you don't get a response then give your thread a bump!

Cat.x

floss2

Bumpity bump.....

squirrel_pigeon

Hey Jojo. Don't have much to add apart from to say Welcome. Post your SOA and let the good people of MSE have a look. It helps to have other people in a similar situation help you out.One thing I will say though - creditors will rarely agree to token payments. Its important however to make them regardless. It's a gesture of goodwill more than anything and it's saying "I know I owe the money but I can't pay more than this at the moment - I'll get back to you". Even if it's just £1 a month then it is really important to do this *hugs*

Sea78

Hi - you also got some replies on the other thread too - just ignore the silly comment that someone posted.

Sea xxx

Homework

Giving us your income and expenditure will let people see the overall position you are in and give you the best advice. Companies like CCCS and Payplan will help you if you have some money left over that they can offer to these companies and will stop the letters and calls. Perhaps someone on here can help see how you can reduce your expenditure or increase your income or are entitled to a benefit which might move you into a position where they can help you.

If there is no option but to go Bankrupt there is another thread on here that deals with that. Please give us some more information and see if anyone can help.