debt

[michelle24]

hi,

i have just discovered this website whilst looking for dg solicitors address:-( . i was a student and had an account with hsbc i took out an overdraft of £750 which i increased to £1500 by the end of my first year. i was using the account all the time money going in and coming out but by the time i gt to xmas of my second year they had reduced my overdraft to £750 without informing mr which ment that when my student loan went into the account i was left with nothing. couldn't even afford my rent.

i ended up opening a second student account with barclays:-( (who new about hsbc and the state of the account) so that i could live. when i deffered at the end of my second year i owed hsbc just short of £2000. i started to make payments as soon as i could but they still went ahead and sent me to dg solicitors and 6yrs down the line i am still paying them off. i have £600 left and not very happy. i have had to register with the consumer credit counselling service who has sorted out a budgett with me and i have £32 amonth left to pay back 10 creditors including hsbc and barclays. i have just recently moved back home to my family from the isle of man and haven't paid dg anything as yet because i hven't had a job. but it is realy getting me down. idread writting to them as they always seem to get shirty with me.

because of the two debts from uni everything has spiralled out of controll and i have got myself into £14800 approx of debt. i was paying them so much that i had no money to live off. i could only just pay the rent and that was it. i couldn't afford my bills or food so my boyfriend had to pay for it all.

i don't want to end up in the same situation again. i would love for it all to stop. if anybody has any advice it would be very appreciated.

[Guest Zooman]

Yes Michelle.

 

You say you owe 14k?

 

I would write to all creditors offering pro rata offer of payments. If all you can afford is £40 a month for the time being tell them.

 

BTW I used to live up the path by the river at Rushen Abbey.

[Guest Zooman]

Dear Sir/Madam

 

Re Account No/Reference No:− 4563210025897412

 

Since making that above agreement with you, our circumstances have changed.

 

We cannot now afford to agreed monthly payments because ... [your paragraph added here]

 

We enclose a Personal Budget sheet which shows our total income from all sources, and our outgoings. As you can see we have only £40 per month left for our creditors. The offers we have made to our creditors have worked out on a pro−rata basis, and we have written to all our creditors asking them to accept reduced payments.

 

In view of our circumstances, please would you agree to accept a reduced offer of £27 per month. If interest or other charges are being added to the account we would be grateful if you would freeze these so that all payments made will reduce what I owe you.

 

I am aviclty seeking a job and once I find employment we will contact you again with a new payment plan.

 

We would be grateful if you would send a paying−in book to make it easier to pay you. Thank you for your assistance. We look forward to hearing from you as soon as possible.

 

Yours faithfully

Mr A N Other

and here is a budget sheet

[karens25]

hi michelle and welcome.. you cant pay people what you havent got so the letter above and personal budget sheet are a really good idea and should help you get sorted.. the citizens advice have an excellent book on coping with debt,, it really helped me get things in perspective.. was the debt you had with the banks due to excessive charges.. if so you are in the right place for lots of help and support in reclaiming what is rightfully yours.. have a good read round the site and also the faq section..

good luck

karen

[winnie123]

Hi Michelle

 

I understand the position that you are in. I contacted the national debt helpline and also the consumer credit counselling service both are accesible by the internet or phone

 

Good Luck

[michelle24]

thanks winnie, its nice to know that there are other people out there.