Huge Debt Problem

[albertz]

I'd be getting your income paid into a parachute account.

 

 

stop people dipping without your control.

 

 

dx

 

 

thanks dx i will look into that...

 

 

.. i owe about twelve different creditors so finding a bank thats not related to any other might take some time,

 

 

i hate that company they must know iam finding really hard when i can only just pay the interest for so long,

 

 

i would say they are the main reason i need to go down this route would probably try and pay them "the normal way"

if they would be more reasonable.

 

 

i closed the card when they upped the rate to 20%

[dx100uk]

try the co-op

they do a basic account available online with a debit card

 

 

dx

[albertz]

credit union not open today,tuesdays and thursdays for drop in ...doh. will be there first thing tomorow,going to look into that co op account today dx.

[maroondevo52]

The Credit Union's a good call, I've been a member for donkey's and have never seen any account on any of the CRA's files.

[albertz]

The Credit Union's a good call, I've been a member for donkey's and have never seen any account on any of the CRA's files.

 

 

man my head is all over the place with this i meant to say citizens advice,doesn't even sound the same....think iam losing it.

 

have seen a lot of stuff on the internet about reclaiming ppi and the like does anyone know of any companies that do this that i can trust,reading a lot of horror stories as well.

[maroondevo52]

have seen a lot of stuff on the internet about reclaiming ppi and the like does anyone know of any companies that do this that i can trust,reading a lot of horror stories as well.

 

Do it yourself for the cost of a few stamps, we can help you.

Some of these companies charge in excess of 35% which is shocking, money for old rope.

 

If you don't have all your statements for your accounts you would need to send them all a SAR to get the information to enable you to sort out any PPI claims.

[albertz]

Do it yourself for the cost of a few stamps, we can help you.

Some of these companies charge in excess of 35% which is shocking, money for old rope.

 

If you don't have all your statements for your accounts you would need to send them all a SAR to get the information to enable you to sort out any PPI claims.

 

Will probably do that then... just off the phone to the co op and they are going to open an account for me 3-5 days,guy wanted me to apply for the all sing all dancing account with overdraft and the like but told him i just wanted the very basic account.

[National Debtline]

Will probably do that then... just off the phone to the co op and they are going to open an account for me 3-5 days,guy wanted me to apply for the all sing all dancing account with overdraft and the like but told him i just wanted the very basic account.

 

Hi albertz

 

Glad to hear you persevered and got the account you were after. The basic accounts aren't advertised and don't really generate any worthwhile income for banks, so I'm not surprised their agent was keen to "upsell" to you!

 

I think you will find this new account makes a huge difference to the degree of control you have over things.

 

Dennis

@natdebtline

[dx100uk]

now

put ALL your income into there

 

 

and DONT setup ANY DD or SO or anything against it.

 

 

you use that account to transfer money to other accounts

via the internet banking webportal to fund those

and the account they exist on

THEN yu have control!!

 

 

dx

[albertz]

went to citizens advice

asked me to sign a load of forms saying that they would be dealing with my affairs on my behalf.

 

 

they gave me a couple of a4,s for my income and outgoings...

..she also told me to phone the credit card companies and tell them that the ca is dealing with my debt

and to offer token payments until my next appointment on dec 1st.

 

filling in my incoming and outgoings every month it look like,s i have about £400 spare

 

 

she told me to get this down to about £100

god knows how

 

 

maybe iam filling it in wrong because there is no way i have that left over.

that is before paying the debts.

[theoldrouge]

She is in effect saying, show you have £100 per month to split between your unsecured debts

[albertz]

i have more than this

 

 

i just don`t know if i should trust her ,

 

 

didn`t even know what a das was when i asked her if that is what she was proposing?

 

she was also very matter of fact

saying stuff them we will give them as little as possible,

 

 

but surely that will means my debts are around a lot longer....

[caro]

Try the budget sheet in the second post of the link here. It'll work it out for you and might be more comprehensive. http://www.consumeractiongroup.co.uk/forum/showthread.php?325527-CAG-guide-Are-you-facing-eviction-or-repossession

[albertz]

Seriously thinking of contacting halifax directly again and rbos

as these as the two companies that are causing me all the bother with their interest rates..

 

 

.. halifax must know that a customer is in trouble if their bill hasn`t gone down in three years

with no spending on it surely.

 

 

was thinking of telling them if they don`t` reduce i will go through with the citizens advice dmp thing...

 

 

... anybody think the will give a fig or iam wasting my time with them.

 

just feel if i thought i had a chance of paying these bloody things off i would try my damnedest to do so....

 

 

any thoughts.....

[theoldrouge]

its very hard to take that first step and stop all payments to unsecured debt.

 

you have to accept if you do, that your credit profile/ borrowing ability is finished for at least 6 years

 

But the eventual rewards are that it will put you back in control of your money and your life

 

you wont just be working to pay interest

 

and if you have ppi to reclaim, your debt will diminish faster than you would imagine

 

dont worry at this stage about how long it may take to repay

 

you need to stabilise your position first

[albertz]

Right sat down and calculated all my ins and outs and on paper it says that i have at least £700 left over to live every month that is after every thing apart from petrol for the motobilty car.... just doses`t make sense,if i went down the dmp route would they say that was enough to live on for food and the like?

[caro]

You need to include everything including petrol, food, clothes, if you have kids who have activities, birthdays, Christmas etc. Don't leave anything out.

[albertz]

You need to include everything including petrol, food, clothes, if you have kids who have activities, birthdays, Christmas etc. Don't leave anything out.

 

must admit didn`t think about some of those.Iam just wondering what the financial people think is enough to live on.i don`t want to start a dmp or das and realize i have even less to live off every month than now...

[caro]

Make it realistic. Put what you spend. If they think you've allowed too much I daresay they'll let you know, but if you miss something I doubt you can add it in later.

 

Maybe write down everything you spend for a week or two and check your bank statements to make sure you don't miss anything.

[albertz]

Make it realistic. Put what you spend. If they think you've allowed too much I daresay they'll let you know, but if you miss something I doubt you can add it in later.

 

Maybe write down everything you spend for a week or two and check your bank statements to make sure you don't miss anything.

 

 

thanks i will just trying to put what you spend on paper i.e food £200-£300 for three people a month is that a lot or too little,baffled!

[caro]

What do you spend? That's roughly £50 to £75 a week. Does that include toiletries, washing powder, loo rolls etc. You might do it some weeks but could you every week?

 

If you don't do the shopping yourself, ask whoever does.

Edited November 6, 2014 by caro

[albertz]

recalculated all my outgoings now have £450 available every month,

 

 

does anyone know if the creditors will demand that full amount between them all..

.. i know so little about such a life changing move.

 

has anyone on this forum ever done a dmp/das i would really appreciate their knowledge.

[caro]

Lots have. http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?173-Debt-management-and-Debt-self-help

[albertz]

still waiting on my finance review with citizens advice on december 1st....

Edited November 15, 2014 by albertz

[fletch70]

When I first started my DMP my advisor basically created my I&E . He used limits that he knew the creditors would find acceptable. The trick is to find out what they are and include them all at the top end. You need to remember to include money for everything , haircuts , emergency, clothes , everything. It is very easy to forget . If you google NEDCAB (North East Derbyshire CAB) I think their tool gives you "guidance" figures of what is acceptable or at least will tell you if it would be a bit much.

 

As my credit file s shot anyway I then check the enforceability of each debt , basically anything prior to Apr 2007 needs to be exact and many are not