managing debt

waddy_2

i have several unsecured debts amounting to approx £10 000 that i am now struggling to repay. i am thinking of entering into a debt management scheme, has anyone any advice please?

TeetersOnHeels

Hi.
Didn't want to read and run, there are many folk on here with lots of sound advice who will have lots of idea's to help you manage your debt. Think the first thing you could do would be to post all your incomings & outgoings. This will let people offer advice on how to trim your budget, and possibly manage your debt without looking at debt management plans. Everyone's really helpful, and may come up with some money saving idea's you've not thought of...
Good luck!!

poppyg_2

Welcome!

Yeah post up an SOA and people will see what they can do

If you go to the CCCS website you can do an online debt remedy on there, you could put your incomings and outgoings into that and see what it suggests too as a starting point x

florence2000

help!! i have a loan i just took out in panic for 7,000 and 1,000 on credit cards i have been dumped (which is miserable enough)!!so on income support for the moment and have had to move back to my mums with my 8yr old son (not my life plan!!)advice/help please xx

marksandsparksgal

Waddy, before you enter into a scheme can you post a SOA(a list of incomings and outgoings) and then we can see what's what and may be able to help. Alsom ring the CCCS who will be able to give you some impartial and free advice. Basically, don't make any decision until you've looked at all the options and decided what's right for you.

Florence, start your own thread with a SOA and then we'll be able to help a little more.

HHH_2

debt managment plan with CCCS was the best thing I ever did! try it on line then give them a call they are very understanding,helpful and non judgemental

waddy_2

oh my god thanks for all the help so far but you are all talking about stuff i dont even know about???? aaggh!!!! anyway here goes my only income is my salary and that varies from month to month but usually average £1400. then i receive tax credits £140 a month as im a single mum. my outgoings are about £1100 for mortgage, utilities etc etc which doesnt leave much left for shopping for food etc. this is the worst bit - i have these debts
vanquis credit card £500
black horse unsecured loan £6000
long overdue student overdraft £2300 (barclays)
car finance £1700
that last one i never even knew i had till 4 days ago when a letter arrived for this car agreement i took out with my ex partner 6 years ago but in my name. he has now died and when we split 6 years ago he told me he took over payments and that was the last i knew about it, now they write wanting their money back as the car was reposessed!!!!

waddy_2

me again! i forgot what is CCCS?

loobylou2

Consumer Credit Counselling service. Hope this helps, everybody on here is really friendly and helpful so don't panic. This site has been a godsend to me since I started using it!!!!

tutkusmom

hi Waddy,if a debt is 6 years old and you made no payments during this time then i think it becomes statute barred which means the debt is enforcable.(The car finance you didn't know i am talking bout)Do not acknowladge the debt in writing and wait for someone to give you advice on this topic because there are letters you can send to the creditors where you ask for the proof of debt or you can send a template letter because the debt is satute barred hopefully.

HHH_2

If you look at the Consumer Credit Counselling Service on line it gives you a debt remedy page which you can fill in to see what your options are. give them a call as well they are friendly. the CCCS is a charity and will not charge you anything for setting up a dmp. beware of companies that charge do not use them!