25+k in debt and need advice please...

nelly_2

If you only have £300 then it has to be reasonable end of story.

Phone them and admit to £200 cos their bound to each try and squeeze a bit more out of you , so you can offer them more and still stay within your budget.
Or even offer it as an insentive for them to suspend the interest.
Although if one of them wont suspend the interest then thats the one you want to pay off quickest really.

Phone them all up, see what they say, and come back here and let us know, some one will advise on the best route to take from that new stand point I'm sure.

Turning_into_scrooge

seaview wrote:

The first months payment is a fee and then a monthly management fee of 17.5% (min £29.00). They say I will clear the debt (but NOT the family loan) within 5 years at around £150 a month? They freeze the interest rates?

Please contact either https://www.cccs.co.uk or https://www.nationaldebtline.co.uk as these will sort out a budget with you and a DMP for FREE!!! they will even take a monthly payment from youself and pay all your creditors out of this to save you the trouble of doing it all yourself. They will write to your creditors and deal with them for you. They do not take a penny payment for doing this as they are both charities. As for freezing interest on debt. Creditors are under no obligation to do this, most will eventually freeze the interest but you may have to repeatedly request it from some of them. I currently have a DMP with CCCS. Have a look at he national debt line web site there is oodles of information on there for you to read. HTH

Turning_into_scrooge

Willsnarf1983 wrote:

careful delboy

i wudn't call the current government wonderul!!!!!!!!



Will

Neither would i personnaly :rolleyes: but i think it is this government that set up cccs and NDL. Pleaase correct me if i'm wrong:)

seaview_2

Thanks everyone I have contacted CCCS and they were great. Already a it feels like a weight has been lifted off my shoulders...I have a meeting on the 19th August. There is light at the end of the tunnel?

Turning_into_scrooge

seaview wrote:

Thanks everyone I have contacted CCCS and they were great. Already a it feels like a weight has been lifted off my shoulders...I have a meeting on the 19th August. There is light at the end of the tunnel?

now try to stop worrying Before you have your meeting with them make sure you get everything together such as water bill, gas bill etc. and have a sit down and do a rough budget yourself. CCCS will fill in the blanks for you. Also they will send out a pack for you, in this there are letters for you to fill in and send out to all your creditors, you will have to photcopy these as you wont have enough, telling them that CCCS are dealing with your situation and giving them permission to deal direct with them. Once you have done this the letters and phone calls with ease off. Good luck with it :T

Richie(UK)

Hi seaview,

How long has your overseas business been running? Do I take it that it has been making losses?

If so, you may be able to claim tax relief for these losses against your other income (ie your salary). For example see here. If you need any help with this then either post some more details here or ask your accountant to help.

This won't wipe out your debts but it all helps!

HTH