Debt Management Plan. Where To Start

snapp88

Hi All. 

I'm looking for some advice. I've got 44k worth of unsecured debt in the form of credit cards and loans.
I'm struggling to keep up with the monthly payments at the moment.
I haven't defaulted on any of the accounts as of yet. To which seven in total. 
I'm looking at getting a DMP but I really don't know where to start. 
Can anyone offer me some advice?

Ex_welsh_borrower

In Debt and Wannabe Debt Free? first Steps to take are here, please read, then ask questions. — MoneySavingExpert Forum

You are in the right place for support and advice, have a read through the above and work on a Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.php to post here for the very knowledgeable folk on here to advise the best course of action.

Grumpelstiltskin

Yes read through the thread Welsh pointed you to.

If you can't afford to pay the unsecured debts then stop paying them. Nothing terrible is going to happen if you don't pay them.

Concentrate on the important ones rent/ mortgage, council tax, utilities, etc.

The information you give us on your SOA will help us to advise you on the best way forward.

snapp88

Thank you for your responses. I've just read through the first thread and it is very informative. I'm going to work on my SOA and post this shortly. Again thank you for your help. I've never been in this situation before and it all feels very over whelming.

Grumpelstiltskin

The main thing is not to panic.

It can be a bit over whelming to start with but take notice of what people tell you on here.

Rob5342

It can feel overwhelming initially but a lot uf us have been there. I got into the same amount of debt and had all sorts of questions and what ifs. I soon got to grips with it and before I knew it I started to feel on top of it and was on here advising others how to get started.

sourcrates

The important thing is to learn how to deal with matters, and stay in charge of things.

Lots of questions will go through your mind, we will do our best to supply answers.

justinthegreat

Ex_welsh_borrower said:

In Debt and Wannabe Debt Free? first Steps to take are here, please read, then ask questions. — MoneySavingExpert Forum

You are in the right place for support and advice, have a read through the above and work on a Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.php to post here for the very knowledgeable folk on here to advise the best course of action.

Hi, I would like to ask if your HSBC loans are still managed by internal collections team? Thank you.