I Uregently Need To Help My Sister

tigtag02

What the yellow one said ^^^^

Welcome to DFW and top marks for being a No1 sibling

In_Search_Of_Me

Just to say welcome! What a lovely brother you are BUT is your sister also taking responsibility and looking at why she got into debt? Thats the first thing to look at as she needs to sort herself out. Its great that you are supportibg her but she also needs to be practive in getting it paid off! I'm sure with no mort & belt tightening she could do wonders! It may be better for her to do a loan where she can make additional payments as an absolute last resort - what are the interest rates on the CC's? I agree that contacting CCCS a good idea as she may be able do a DMP and that would be resolved in 6 years although I'm unsure how they look at it as she has quite a bit of equity...Her situation is by no means dire (although she feels like it I'm sure) as she has equity in the house that she couldfall back on but much better to have a manageable plan for paying it off! Also just a personal note from me...what a lovely brother you are!

bank_of_slate

Hi,
Has your sister become a member of this site and forum herself?
...Linda xx

Jacks_xxx

:wave: Hiya hon,

If you fill all your sisters financial details into this it'll give a good idea of what CCCS would advise you in person.

https://www.cccs.co.uk/debtremedy/(jjqpeceandtxwtm55hzt1u45)/Start.aspx?hp=1

Another useful tool is the Snowball calculator which shows you how to prioritise the debts (Highest interest rates first)and how long they will take to pay off.

http://www.whatsthecost.com/snowball.aspx

Please don't "let" your sister turn her unsecured debt into a mortgage that is secured on her home - thus putting herself in the position where debt companies can take her home away if for any reason she can't make the payments.

(In my opinion that financial advisor wants slapping for advising her to do that! :mad: )

An IVA *may* be an option - but read this first as it includes a few things I expect that financial advisor neglected to mention (like the £7500 or so an IVA usually costs! :eek: )

Do let us know how your sister gets on.

Love Jacks xxx

consultant31

The OP said his/her sister doesn't know how to use a computer, and this is why he (or she) is looking for help on her behalf.

Op, nothing can go far wrong over the holiday period (I hope) so try to have a peaceful Christmas. Your sister is going to be fine with you looking out for her:)