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  • FIRST POST
    • MSE Andrea
    • By MSE Andrea 18th Nov 16, 1:05 PM
    • 9,178Posts
    • 22,017Thanks
    MSE Andrea
    Struggling with debt? Ask a debt adviser a question
    • #1
    • 18th Nov 16, 1:05 PM
    Struggling with debt? Ask a debt adviser a question 18th Nov 16 at 1:05 PM
    If you need help with your debts, this is the thread for you.

    Trained advisers from StepChange Debt Charity (formerly CCCS) are here and waiting to answer your debt questions. They're a friendly bunch so please don't be shy!

    There are three ways to get in touch:

    1 - Simply post your question below and the team will reply. If your question is about bankruptcy, then pop over to the Bankruptcy board.

    2 - If you would prefer to ask a question in private, feel free to send a message to StepChange Private Messages.

    3 - StepChange Debt Remedy is a free and confidential online debt advice tool. You can put a budget together at your pace, and you can also talk it over with an adviser through online chat.

    If you're a StepChange Debt Charity client already, please contact its Aftercare team rather than posting in this thread (their contact details are in your Welcome Pack).

    If you're self employed and need debt help please get in touch with Business Debtline.

    This is discussion thread part four, see parts one, two and three.


    If you haven't already, join the forum to reply!
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    Last edited by MSE Luke; 24-07-2018 at 2:41 PM.
    Could you do with a Money Makeover?


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Page 45
    • debthelpneeded
    • By debthelpneeded 13th Sep 18, 11:17 AM
    • 2 Posts
    • 1 Thanks
    debthelpneeded
    Does a default lead to a CCJ
    Hi,

    I am about to default on 4 credit cards, 2 with Barclaycard and 2 with MBNA. Barclaycard total £14000, and MBNA £12000. Basically due to changing circumstances a few years ago, going part time and having twins, along with anxiety and mental health issues i can no longer afford the payments and have more going out than coming in. Both companies have gone down the zero offer route as basically i have no money to pay them. They have both been very accommodating and understanding. What i would like to know is once they have defaulted does that automatically mean they will go to CCJ? The companies were so understanding and said I could only pay them if i had income left at the end of the month, so not sure if a CCJ is a route they would take. Can anyone help as I am petrified of losing my home. Thank you
  • StepChange_Linsi
    Hi

    Welcome to the forum and thanks for posting.

    Having a default doesn’t mean a creditor will automatically apply for a CCJ. There’s more information about the collections process on our website but it’s extremely rare for someone to lose their home because of an unsecured debt such as a credit card.

    It sounds like you’ve done a great job keeping in touch with Barclaycard and MBNA and making them aware of the changes in your circumstances.

    If you’d like more advice about the best way to manage these debts going forward you can use our Debt Remedy tool to create a budget and get advice online. Here’s the link.

    Your GP along with organisations such as Mind can also help you manage your anxiety and mental health issues if you need any extra support.

    I hope this helps,

    Linsi


    Hi,

    I am about to default on 4 credit cards, 2 with Barclaycard and 2 with MBNA. Barclaycard total £14000, and MBNA £12000. Basically due to changing circumstances a few years ago, going part time and having twins, along with anxiety and mental health issues i can no longer afford the payments and have more going out than coming in. Both companies have gone down the zero offer route as basically i have no money to pay them. They have both been very accommodating and understanding. What i would like to know is once they have defaulted does that automatically mean they will go to CCJ? The companies were so understanding and said I could only pay them if i had income left at the end of the month, so not sure if a CCJ is a route they would take. Can anyone help as I am petrified of losing my home. Thank you
    Originally posted by debthelpneeded
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • neil369
    • By neil369 18th Sep 18, 8:12 PM
    • 1 Posts
    • 0 Thanks
    neil369
    Charging orders
    Hi Everyone,
    Pl help.
    Outstanding mortgage on my property @£140 K . Also,
    I have 2 charging orders totalling @ £90000 since 2005.
    2 more c.o.s totalling @£5000 since 2012.
    House would fetch a max @£150000

    I need to sell the house and move into a rented accommodation.

    What is the solution for this situation ?

    Pl guide.
  • StepChange_Patience
    Hi Neil

    Thanks for getting in touch and welcome to the forum.

    I understand how much of a difficult decision this must be, knowing that there may not be enough equity in the property to cover the charges on the house.

    When a property sells that is in ‘negative equity’ (the amount owed is more than the value), there may be a shortfall after the sale. Once the mortgage has been repaid, anything left would then go to the second charge (one of the charging orders).

    This might mean that after the sale of the house, the creditors who have the charges would look to collect the debt by using other means as it’s no longer secured against an 'asset'.

    You can find further information here about what to consider when selling your house when the equity might not cover the debt: https://www.citizensadvice.org.uk/debt-and-money/mortgage-problems/how-to-sort-out-your-mortgage-problems/selling-your-property-to-clear-mortgage-debts/

    If you would like help looking at your solutions to deal with any potential shortfall, Step Change will happily have a look at your situation and provide you with support. You can call them on: 0800 138 1111.

    I hope this helps.

    Patience


    Hi Everyone,
    Pl help.
    Outstanding mortgage on my property @£140 K . Also,
    I have 2 charging orders totalling @ £90000 since 2005.
    2 more c.o.s totalling @£5000 since 2012.
    House would fetch a max @£150000

    I need to sell the house and move into a rented accommodation.

    What is the solution for this situation ?

    Pl guide.
    Originally posted by neil369
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
    • Tunnel2019
    • By Tunnel2019 20th Sep 18, 12:28 PM
    • 1 Posts
    • 0 Thanks
    Tunnel2019
    Help to pay off existing Loan
    Hi,
    I have always been bad with budgeting money and have never been able to save or ensure that I have enough to last until the end of the month.
    This then resulted in me getting pay day loans to tide me over.
    Over a certain amount of time and with a Mortgage to consider I got a loan with a credible bank to pay them all off and start again.
    Fast forward 2 years, I have a loan which costs a hefty sum a month and also more pay day loans as I have returned back into the vicious circle.
    I need help and advice on how to stop being so bad at budgeting money and also to be able to put money aside in order to try and pay my loans off quicker without crippling myself.
    Any help or advice you can provide would be so appreciated. Thank you.
  • StepChange_Kirsty
    Hi there,

    Thanks for your post and welcome to the forum.

    I’m sorry to hear that you’re still having difficulties with debts after trying to consolidate. Consolidation very rarely works but we can definitely look into other solutions that would help you to become debt free.

    In order to give you the best advice we’ll need to know more about your circumstances by completing a budget where we’ll ask you questions about your income, expenditure and debts. The quickest and easiest way to get this process started is by using our online Debt Remedy tool which takes you through to process of putting a budget together at your own pace and you’ll be able to access a personal action plan at the end that explains the best advice for your individual situation. You can access our Debt Remedy tool here.

    Alternatively if you’d prefer to speak to us over the telephone you can find our contact details here.

    We hope to hear from you soon.

    Kirsty



    Hi,
    I have always been bad with budgeting money and have never been able to save or ensure that I have enough to last until the end of the month.
    This then resulted in me getting pay day loans to tide me over.
    Over a certain amount of time and with a Mortgage to consider I got a loan with a credible bank to pay them all off and start again.
    Fast forward 2 years, I have a loan which costs a hefty sum a month and also more pay day loans as I have returned back into the vicious circle.
    I need help and advice on how to stop being so bad at budgeting money and also to be able to put money aside in order to try and pay my loans off quicker without crippling myself.
    Any help or advice you can provide would be so appreciated. Thank you.
    Originally posted by Tunnel2019
    I work as a debt advisor for StepChange Debt Charity and have specific permission from Martin to post on these boards to try and help those in debt. Read more information on StepChange Debt Charity in the Debt Problems: What to do and where to get help article. If you find you're struggling with debt and you need further help try our online advice facility Debt Remedy.

    Don't be afraid of getting debt advice. We'll help you take one more step towards getting help with your debt.
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