A Bit Of Advice Please?

jojo8787

Well the big Lyods debt, of £3400 approx, is actually only approx £2200, bt with the charges and interest theyve added its accumulated to this, and its continuing to accumulate at £250 per month. I hav tried fighting the charges but was fought off with "we are currently in the progress of being taken to court by the FSA etc etc" so where do istand with this debt should i be taken to court.

Also the capital one debt, i only owe a total of £170, but again interest and charges have pushed it up to £350 approx, where do i stand on this one?

Thanks x

naomirosebud

Hi jojo

Did you know that your local Citizens Advice Bureau can give you free help with money management? They will sort out a budget for you, negotiate with creditors and make offers of payments to them that you can afford to pay. Once your income and expenditure details have been sorted out, they look at the money that is left over and this is then split proportionally between the creditors, so all offers are done fairly and the creditors will usually accept the amounts offered. I've worked as an adviser for 5 years and it really can work. Look for your local bureau on the Citizens Advice website.
Best wishes

GeorgeUK

Jojo - the SOA looks to be a bit incomplete.
Counciltax, water rates, electricity, tv licence etc. Here's a link to SS's SOA that many use as a template. If you can fill in as much as you can and also provide APR's for the interest.
http://forums.moneysavingexpert.com/showthread.html?t=107280

Payplan may be able to assist, but they would also need to see a SOA. We'll see what we can help with meantime. Details are also in that link.

jojo8787

Hiya, all my bills are included in the rent, (i only rent a room)

jojo8787

Also citizens advice told me the best thing to do was write letters to negotiate payments.

Llyods TSB (£3400 debt) wrote back refusing to stop interest and charges.

rayday2

Not sure if anyone else has said this but I would not miss any payments. I take it you have offered companies something and they have not accepted? If this is the case send what you offer every month anyway and keep up the communication that you are doing fantastically!

Apologies if I have gone over old ground!

GeorgeUK

Jojo - the debts aren't going to just go away. You need to deal with them in some way. If you have no other income then that is the first thing you need to deal with. With Christmas coming up hopefully there are a few more jobs about - even short-term.

Contact payplan if you haven't already tried them. These are the usual companies we recommend.
(Taken from Fermi's signature)

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'
The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111
National Debtline - Tel: 0808 808 4000
Payplan - Tel: 0800 917 7823

If you don't make any payments, you could end up in court. You need to make some kind of payment - even if it's just £1 per month to each debt. They may suggest bankrupcy, they may suggest an IVA or something similar. I have no experience with these things but advice from payplan should help. The only extra money you seem to have is currently going back to paying your mum - that is the only sticking point i can see. They may insist that all your creditors get an equal share of any available money. Do you still owe your mum alot?

itsnever2lateisit?

jojo, how much longer do you have to pay your mum £200? I agree with the other posters that you must send each of your debtors something. And if you could get a seasonal job that would give you afew hundred £ to throw in the hat, and keep the wolves from the door

hefalumphippo

Hi Jojo

I just wanted to say i am in the same boat as you with TSB and i just wanted you to know you are not alone! I owe about the same as you and haven't been able to pay any money as i have been on maternity leave. My baby is now born and has heart problems he has had one operation and has to have another one. I have had to take unpaid leave from work to take him to hospital appts etc. I have written to my creditors to explain my situation but it does feel like you just get ignored.

I think you should go to Citizens Advice as they have been great with me although my situation is far from being resolved. I also think you should go and pay a £1 to each of your creditors cos then you are paying something (something i need to do myself).

I know how horrible being in this situation is, how it's all you think about and you just want to be happy and have a good life but cos you've made a few mistakes your somehow not allowed to.

Take care x

jojo8787

hefalumphippo wrote: »

Hi Jojo

I just wanted to say i am in the same boat as you with TSB and i just wanted you to know you are not alone! I owe about the same as you and haven't been able to pay any money as i have been on maternity leave. My baby is now born and has heart problems he has had one operation and has to have another one. I have had to take unpaid leave from work to take him to hospital appts etc. I have written to my creditors to explain my situation but it does feel like you just get ignored.

I think you should go to Citizens Advice as they have been great with me although my situation is far from being resolved. I also think you should go and pay a £1 to each of your creditors cos then you are paying something (something i need to do myself).

I know how horrible being in this situation is, how it's all you think about and you just want to be happy and have a good life but cos you've made a few mistakes your somehow not allowed to.

Take care x

Thanks so much for this post, it made me feel so much better i have to say.

I have slight bit of good news, I spoke to Capital One last night, who offered to accept a payment of £136, which i have done,then gave me an address to write to, who will almost certainly write off the rest of the charges. They are no longer charging me £30 odd pound a month, and that is one hell of a weight off my mind!! If you want me to post the address on here to write to the specific department then please let me know and ill do it.

Ill have finished paying mum off in may next year, for those of you who have asked.
x