should i cancel direct debits on loans and credit cards

macdude

I currently owe around 15k 2  unsecure loans and 3 credit cards. I recently have had medical issues that have stopped me working full time and now registered with universal credit for a health assessment. I have been struggling to pay over last few months and is causing me stress. 

RAS

Do you rent, have a mortgage, single, partner, living with parents?

Can you complete a Statement of Affairs and we can advise you better. 

molerat

https://www.lemonfool.co.uk/financecalculators/soa.php

macdude

hi
I rent and live alone, Im 63

sourcrates

Don`t struggle and make things worse, take action now before you run out of money.

If you can`t afford to pay your unsecured, non essential debts, then remove the lenders ability to take payment, by cancelling DD`s/CPA`s whatever you have to do, then write to each one and explain your circumstances to them.

They will likely put accounts on hold for a period of time to see if things improve or not.

That`s your first step and then see how things go from there.

The priority is to have enough money to live on, the non essential debts can wait, explaining your circumstances to them will prevent them hassling you.