Domestic Violence and Financial Abuse - left with £000's worth of debt

swampduck

The Lemonfool and Whatsthecost.com both have snowball calculators that you can try.

downandoutagain

sadly they dont help me as I am not paying any interest at the moment 

boxer234

 I don’t really have any financial advice but I’m sorry this happened to you.  It does get easier.  If you feel up to it do report him to the police.  

swampduck

With the snowball calculators - I don't think it necessarily matters about the interest if you're not being charged. But if you put the amounts into a snowball calculator with your monthly payments you can at least see the amounts going down and when a debt is cleared - snowball that payment to another debt. Some people work on snowballing the smallest debt so that they feel they have achieved something positive by clearing at least one debt. The psychological benefits go a long way when you feel trapped by circumstances and it can help sometimes to see an end date.

RAS

Glad to hear that you're no longer being charged interest on the accounts. 

The accounts on that list that matter are the Council Tax and HMRC. And the energy debt.

I'd suggest you start by putting aside three months surplus into a completely separate instant access savings or basic bank account. You urgently need something as a back up in case anything happens to the car or the cooker etc.

Try to reduce the satellite/cable, phone and phone costs.

For your SOA longer term, every month you must put something into your emergency fund, car maintenance, house maintenance, clothing, life insurance, unless you've got enough in death in service benefits to cover the mortgage. And add enough for a couple of hair cuts ( or find out if the local college does sessions). You need look good for work. And increase the food budget.

I know that leaves you with less spare but it's more realistic.

Then concentrate on clearing the HMRC debts, and the energy bill.  You really haven't got enough to do much else. Ignore everything else, and if possible avoid paying anything towards them. Once the CT debt is cleared put that money to clearing the energy and HMRC debts.

As you start to feel more in control, start to explore any local freecycle/freegle groups, possibly ear work, things like Olio or the any local Zero Waste Projects to give yourself a little slack. Ideally your emergency fund needs to grow to £1K, then up to 3 months mortgage payments and later to 3 months expenditure, or as near as.

downandoutagain

RAS said:

Glad to hear that you're no longer being charged interest on the accounts. 

The accounts on that list that matter are the Council Tax and HMRC. And the energy debt.

I'd suggest you start by putting aside three months surplus into a completely separate instant access savings or basic bank account. You urgently need something as a back up in case anything happens to the car or the cooker etc.

Try to reduce the satellite/cable, phone and phone costs.

For your SOA longer term, every month you must put something into your emergency fund, car maintenance, house maintenance, clothing, life insurance, unless you've got enough in death in service benefits to cover the mortgage. And add enough for a couple of hair cuts ( or find out if the local college does sessions). You need look good for work. And increase the food budget.

I know that leaves you with less spare but it's more realistic.

Then concentrate on clearing the HMRC debts, and the energy bill.  You really haven't got enough to do much else. Ignore everything else, and if possible avoid paying anything towards them. Once the CT debt is cleared put that money to clearing the energy and HMRC debts.

As you start to feel more in control, start to explore any local freecycle/freegle groups, possibly ear work, things like Olio or the any local Zero Waste Projects to give yourself a little slack. Ideally your emergency fund needs to grow to £1K, then up to 3 months mortgage payments and later to 3 months expenditure, or as near as.

it doesnt help that its landing on the door mat most days.  My electricty debt is to people energy who went into adin, so they are chasing outstanding debt.  i am with BGas and all is up to date 

RAS

Appreciate that it's scary dealing with the stuff on the doormat all the time; even difficult hearing the letterbox go.

With people energy, explain you are in extreme debt due to DV and coercive control, and offer a fiver a month. If necessary stop paying barclaycard.

Given your debt situation, you need a financial cushion, because your ability to get credit in an emergency is minimal, if any. And if any of the creditors go for a CCJ, it would be good if you had some "savings" with which you might be able to clear it, or to negotiate a settlement before it hits court? 

What is important is that you let all but the priority debts default, if they haven't already. Once that happens, it will take 6 years for them to drop off your credit record, whether you pay them or not.

If you pay nothing, most will be be sent to debt collectors, maybe in house, maybe outside. You'll need nerves of steel, but keep calm, ignore them (they can't visit, if they phone, instruct them only to write). The debt may well be bounced around several debt collectors, many of whom buy in old debts at 5p in the pound in the hope of squeezing something out of the package.

In 3-4 years some of these will offer a full and final settlement for say 30% of the value. Hold your nerve and later offer say 20% if you've got the money saved.

That way you can clear £50Ks worth of consumer debt with £12K in money. 

And finding £12k over the next 6 years is much easier than paying £50K?

If you don't pay anything, after 6 years from the date of the last payment or acknowledgement, the debt become statute barred. Which is why paying Barclaycard a fiver ain't a good idea, actually.

downandoutagain

@RAS
The barclaycard is with PRG now, and they are threatening to take me to court.  I have CCA'd them to see if they enforceable agreenments, which they likely will, and then I will talk to them about irresponsible lending.  If I cancel the payments that i am making they will CCJ me ;-( 

in the meantime, i am trying to find  solicitor who will speak to me about the ex's belongings that he just refuses to collect!

stymied

https://www.crippspg.co.uk/family-law/what-happens-if-following-divorce-your-ex-wont-collect-their-things/

downandoutagain

With regards to one of my PRA accounts (Barclaycard), they appear to have cancelled my payment plan.  I missed the LOA date, and called them on the day to dispute the debt as it was part of the financial abuse.

they agreed to put my account on hold, while they investigate the diaputed debt.  they also asked me to complete a questionnaire about my mental state and provide medical evidence, which I have not done.  However I did tell them that i was being supported by my local womens aid.

my worry is that the 30 days end this week, and I dont know what they will do - and its causing me real stress. 

are they likely to take me to court?  I am about to draft a disputed debt and request for CCA