In Trouble :(

TMO

Hello, I need some information or help.

I am umemployed at the moment claiming JSA (£240 a month) as my only income. My credit cards (8 credit cards) total debt = £8,500 and a £1,000 overdraft = Total £9,500. I know that isn't much compared to some people but since I am only 24 it seems to be alot.

I have no idea what to do since I am struggerling to pay the bills now and am going over my limit and getting fined. My only expenses for the month out of £240 is £140 on mobile phone bills (I have 3 contracts). There is no other bill as I live with parents. So I have £100 left over to pay my bills, which isn't enough for min payment.

I have contacted the CCCS and they told me someone will ring me on friday this week to discuss what I can do. They gave me a reference number and told me to contact the credit card companies and tell them to put my account on hold until they get in touch with them but I rang 3 (goldfish, morganstanley and halfiax) and they all refused to put my account on hold telling me that because I am already over my limit they cannot and that the CCCS will taske 2-3 months to get in touch with them, they won't put my account on hold for that long. The CCCS told me to pay whatever I can, £1 or £5 but that is just gonna get me more fines.

So my question is, should I be worrying at all? Will the CCCS come to my rescue and be able to resolve something with the credit card companies?

Any help is appreciated.

Little_Miss_Magic

HI,

Haven't had any delaings myself with CCCS, so just bumping this thread uo for the morning people.

I'm sure all will work out fine.

Hugs

angeldiva

Good Monday Morning

Well first of all I'm with payplan not CCCS so I don’t know how they work although I do know they cannot guarantee that interests and charges will be frozen and in some cases they don’t help people who don’t have spare income to throw at the debts. I'm sure they will try to help though.

You need to write to your credit card companies explaining that you are currently going through financial difficulties and you asking if they would consider putting the interest and charges on hold until you sort out a payment plan with the help of CCCS. A while back I saw someone with a letter template on here so fellow dfw's if you have that please could you post it? Don’t deal with the phone idiots their job is to get as much money out of you as they can.

Three Mobile contracts seams so hefty and the bills are astronomical, as soon as the contracts end I would get them cancelled quickly and go on to pay as you go, I know contacts sometimes have good benefits but honey, you cant really afford that right now until the debts are cleared.

Also you mentioned you are unemployed, are you currently looking for work? Keep reading this site some posts have some great ideas on how to generate extra income.

I'm sure others will be along to give you some great advice wishing you the best of luck

TotallyBroke

Ring each mobile company and ask if you can swap onto pay as you go. If they say no then explain you are in financial difficulty and would they swap you onto a cheaper tariff. They'll probably refuse but you may be lucky

homer_j_3

Would it not be better to pay the minimum on your credit card bills as a priority then give the mobile phone company for the phone you use the next bit of money. With the 2 others contracts that you do not use, could you pay whatever is less?

You clearly cannot pay everybody but my guess is that interest on Credit Cards will do more long term damage to you over a default on your mobile phone contracts?

You may even want to stop paying the contracts alltogether (last resort) and get a PAYG sim for your phone.

TMO

The mobile phone contracts cannot be cancelled since I am under contract and as far as I am aware, they are classed as a proiority bill while a credit card is not. I am looking for word, had a few interviews but nothing so far.

10past6

TMO wrote: »

and as far as I am aware, they are classed as a proiority bill

Who told you this?

TMO

10past6 wrote: »

Who told you this?

CCCS told me that my mobile bill is classed as priority.

Angel11_2

If you could put up an SOA - all the credit cards, their amounts and APR's.

3 mobile phone contracts?? Gosh. When do these come up for renewal?

Any chance of some agency work to get you by until a permanent job can be found?

Night-owl_6

A mobile phone bill is not priority this is incorrect information

smashedbooboo

I agree, a mobile phone bill is NOT priority. NOT. Rent,rates, mortgage are priority. When are the mobile phone contracts up. And in some circumstances you MAY be able to cancel your contracts depending on how long you have had them. What tariff are you on for each contract. And why do you have 3 contracts honey. A little bit more info if possible and then we will able to give you some help and advice.