Hi,
I'm new to this forum and hoping for some advice!
I have various overdraft, credit card and loan debts, which are all a bit of a mess:
Barclaycard (2 cards) = £14,000 (1 card suspended, but not in arrears)
Lloyds CC= £3,800
Tesco CC = £3700
Natwest CC = £650
Natwest Loan £17,000
Natwest OD = £1,400
Halifax OD = £1,500
Currently, I have not missed any payments, but I'm reaching a point where these debts are becoming unmanageable. I have just about kept up with repayments but now all 0% have ended and minimum payments are increasing making it impossible.
I am considering a debt management plan... Reading through other people's experiences, dmp's seem to have mixed opinions and I'm also unsure if I should use a company like Step Change or Payplan whether I'd do better approaching the various creditors myself.
My wife also has debts, but much less (approx £10k and up to date, but struggling). Is it prudent for us to both start a dmp, or will that effect our long term plans if/when we want to remortgage/move down the line? (i know it'll be 6 years after default before these will disappear from our files).
As it stands, my min payments next month are approaching £1k, which is absurd. What kind of level of min payment would I expect to pay in a dmp?
Also, there seems to be a lot of advice on obtaining CCA's. At what point should I be asking for these, or is this something best left until the debts are inevitably sold on?
Sorry for the multiple questions!
Thanks in advance,
A