Advice on Dealing with Bank, Credit Card Debt

[Miss Smith]

Hi Everyone, This is my first post and i'm looking for advice please,

 

Where do i start, firstly as it stands through circumstances i find myself with very little income and quite a bit of debit. The first problem is Santander, ive a personal loan with 4 missed payments and this week has gone in to default, where do i start?? Next Santander Current Account, which unknown to me, i went in to an unplanned overdraft of £150, they have put so many charges on the account it's now £560 which obviously i can't pay and find that a little unfair, the next lot is Capital One, 3 missed payments and account gone in to default, basically where do i start, i have in the next month got money coming to me, which i intend to pay the debt, i was wondering where i start also if i wanted to come to an arrangement of a settlement payment how do i go about that? Ive not contacted any of the above due to no phone, i would really appreciate any advice help thoughts on this. Many Thanks.

 

[alfwithhair]

Firstly I would advise you to open a new bank account with no association to Santander and get your income paid in to that. (are you low income or on benefits)

 

As you have a loan with Santander, they are legal able to take any monies outstanding on the loan from your Santander bank account. (right to off-set rule)

 

Once you have you new account set up your finances are under your control and you can then begin negotiations to reduce the payments to an amount YOU can afford, not what they say YOU WILL pay.

[Miss Smith]

Thankyou for your reply, basically ive no income, it's a complicated situation, i'm not currently claiming anything, i'm living with my partner, who supports everything as it stands, the Santander Current Account that has gone overdrawn, isn't used, there were a couple of transactions, still not sure how i actually managed to go £150 over my account as i don't use it, nothing is paid in to it etc, they have also said they have now closed my account and will continue to charge £5 a day in charges it's now in default the charges etc are just unbelivable the original ammount is possibly payable, but now with all the charges on that, just can't even imagine paying that. Many Thanks for your advice.

[liquidauctions]

I would suggest you come out of default. Pay what you can into all accounts and it will stop the default being registered. Plan the rest after

[rebel11]

Hi miss

 

You should try and claim the bank charges back through a 'Hardship' claim :- http://www.itv.com/daybreak/money/martinlewissection/bankcharges/

 

You should claim any Credit Card Charges with interest.

 

Have a read of 1,2 and 3 in my signature, get claiming.

 

http://www.shweb.pwp.blueyonder.co.uk/interestcalcs.xls