Dont know what to do.

steve0793

Im no expert, but would echo the comment - dont use a company who charge. I did this a couple of years ago. The advice they gave me turned out to be appauling. I incurred 3 defualts by doing what they told me. I cancelled the arrangements with this company and contacted the companies direct (Barclaycard, Abbey etc) and all agreed to freeze charges and set up realistic repayment plans.
For the year or so I was with this comapny, charges etc continued to be added to my accounts and their fees topped £600 for a year !

tinkerbelltoulle

I am wondering at the moment if it is possible to either get my creditors to do repayment plans direct with me or to switch to a no fee company?
I have been considering applying for a loan to pay everything off as I only owe about £8000 max!!

Jesthar

tinkerbelltoulle wrote: »

I am wondering at the moment if it is possible to either get my creditors to do repayment plans direct with me or to switch to a no fee company?
I have been considering applying for a loan to pay everything off as I only owe about £8000 max!!

Hey Tink, welcome back

Yes, you should at least try to switch to a non-fee paying DMP (with a debt charity such as PayPlan or CCCS), or a good chunkg of your money is going to be taken in fees every month rather than paying your debts!

You MAY be able to do it yourself, of course, but that very much depends on your financial situation - if you can do a full Statement of Affairs and post it up, it would help us help you a lot! Link is here:

http://www.makesenseofcards.com/soacalc.html

If you use the 'MSE' button in the 'Format results for discussion board' section near the bottom, you will be able to copy and paste it straight into a post here.

~Jes

tinkerbelltoulle

Ok this is my statement of affairs:
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 950
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 950
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 60
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 625

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
lpf credit card................1037.7....200.......0
Aqua credit card...............221.54....0.........0
Barclay card...................785.57....0.........0
marshall Ward Cat..............378.42....25........0
Argos Card.....................200.......15........0
Studio catalouge...............400.......25........0
Choice catalouge...............687.58....0.........0
The Shoe Tailor cat............293.37....30........0
Naturally close catal..........282.15....16........0
MBNA credit card...............473.54....25........0
La Redoute catalouge...........144.47....9.........0
Capitalone card................48.26.....0.........0
Total unsecured debts..........4952.6....345.......-

Monthly Budget Summary
Total monthly income.................... 950
Expenses (including secured debts)...... 625
Available for debt repayments........... 325
Monthly UNsecured debt repayments....... 345
Surplus(deficit if negative)............ -20
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -4,952.6
Net Assets.............................. -4,952.6
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

dancingfairy

O.K let's have a look:
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 300
Management charge (leasehold property).. 0
Council tax............................. 0 no council tax?
Electricity............................. 0 no gas or electric?
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0 no water?
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0 no tv licence?
Satellite/Cable TV...................... 0
Internet Services....................... 0 nothing here?
Groceries etc. ......................... 100
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 60 this seems rather high - have you tried shopping around for this? what animals are you insurin?
Buildings insurance..................... 0
Contents insurance...................... 0 no insurance?
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 10
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 625


I think a dmp would possibly be a good option for you. You need to allow things in the categories highlighted as even if you pay them yearly you need to budget a monthly amount.
After the bills you have put on so far you have 300 a month to divide between your creditors which will be slightly less once you put in the missing figures but you have a good surplus to do a dmp with. I would definitely be in contact with one of the free debt organisations - CCCS/Payplan/National Debtline or your local CAB as they should be able to help set one up for you and I am sure the creditors would be grateful that you are not paying out to a private organisation and all the money you have spare for debt repayment is going to them.
Best of Luck
df

sammy115

You have said that all your cc and loan are 0% at the minute. Is this right? If it is then why on earth would you want to go and get a loan that has interest on it.

I understand why you would want to do it, but then it would be totally senseless to do it.

As things stand you are £20 short - looking at your SOA knock £10 of your clothes bill and another £10 off your birthday present list and you are equal.....

Give churchwood the boot and contact CCCS or national debtline. This time be honest and tell them about ALL your creditors.

Why are you vet bills so high. Could you not use the PDSA

Deep_In_Debt

Hi
The general advice on here is not to take a further loan as it's not actually clearing your debt. Many of us have been there (including me!) and now find ourselves in the mess that we are in.

I'm on a dmp with CCCS at the moment. I'd been recommended to use them by a couple of my creditors who actually said that they were more likely to accept the proposals from CCCS or a free debt company than a fee paying one as they told me on the phone that they knew all the money was going to them and not lining another companies pockets. True to their words, those 2 creditors were the first to accept my dmp and have kept the interest frozen since January and not hassled me.

So dump the fee paying company!!

tinkerbelltoulle

I pay £300 a month all incusive. Anyones vet bills would be high if they had 21 rats, 4 degus, 2 digs, 4 cats and a rabbit!! Some months it could be more or less. No there not 0% I just couldnt find it all out!! What happens with the none paying companies? I filled in a form on CCCS(i think) what happens from there?

tinkerbelltoulle

Plus i am trying to free up as much money as I can as I am going to have to move house at some point and will not be able to find any where as cheap as now!!

clareyPINKfairy

although this is not a money problems post, it is to do with Churchwood Finance. If you are thinking of going with them - PLEASE DON'T.

I am not with them myself, but their marketing phonecalls are scandelous!!
i dont know how they got my mobile number, as i never give it out ( only to friends and relatives), but theyve somehow got it and are now giving me 20+ calls a day. at least one every hour from about 8am to 9pm. and i have received a few texts too. i have managed to block the calls from the unwanted numbers but i have a sony erricsson so i only have the option to receive calls from 12 numbers (although no one ever calls - just texts).
i have typed in the numbers (they use more than one - so far ive got a list of 10 numbers they use) to the search engine and got a website called "who calls me?" and their company, or a debt company of some type always comes up.

i really am getting sick of the calls. I have only just registered with TPS - so that will take a month till it becomes illegal to use my number in marketing, and i have tried to complain through ofcom and the information commisioner. i have also sent an email to churchwood finance to tell them to take my number off their list.
Anybody else had harrassing calls like this and know how to get rid of them???