Jump to content

You can now change your notification sounds by going to this link https://www.consumeractiongroup.co.uk/index.php?/&app=soundboard&module=soundboard&controller=managesounds

 

You can find a library of free notification sounds in several places on the Internet. Here's one which has a very large selection https://notificationsounds.com/notification-sounds

 

 

BankFodder BankFodder

 

BankFodder BankFodder


frenchie67

help with paying off debt please

style="text-align:center;"> Please note that this topic has not had any new posts for the last 1806 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi Everyone, newbe here!

 

I have been in a DMP with stepchange to manage my £25k debt

which I have been managing ok

 

I spilt with my partner and suddenly my income halved overnight and I am now seriously struggling.

 

I am thinking of taking a loan secured aganst my house (its the only loan I can get due to my credit status) to get my payments down but it will not cover the whole £25k.

 

Has anyone any advice as to what to do and whether there are any other options?

 

Im not a wont pay but I cant pay the whole lot

 

.I am in my late 40's and my house is my only asset,

and so selling is just not an option...

 

Advice greatly appreciated x

Share this post


Link to post
Share on other sites

Why would I not consider please?

My DMP is £1159 per month

 

, the loan would be circa £300

Halifax overdraft 2359

Halifax overdraft 1865

Halifax Credit Card 6604

Littlewoods 761

Very 2566

Capital One CC 619

Next 1068

Everyday loans 4000

Barclaycard 4480

Share this post


Link to post
Share on other sites

As stated above, avoid a loan at all consts, loans are debt this is what you are trying t get out of, and you are placing your home in jeopardy.

 

You are paying an awful lot on your DMP I have known that level of debt being paid at 150 to two hundred pounds a month, so contact stepchange and ask for a new a and e in view of changed circumstance.

They will almost inevitably try and talk you int a IVA this also must be resisted in the first instance.

 

Good Luck


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

Share this post


Link to post
Share on other sites

Avoid borrowing against your home

Any loan would be high interest as I expect your credit file is trashed

 

Are these accounts with debt collection company's

Late payment fees on them

Time to take control CCA request to whoever chasing you for payment

 

SAR to original creditor for late payment fees and PPI to look at reclaiming

 

If those creditors wanted the money they would try their luck at court for a CCJ then put a charge on your property

Not at they stage and can be beaten if they try

 

They are low priority debts you could be paying as little as £1 per month

 

Take control

Many if not all of us have been there at some point and found CAG

We all survived and seen light at the end of the tunnel


If i have helped in any way hit my star.

any advice given is based on experience and learnt from this site :-)

Share this post


Link to post
Share on other sites

A few cca requests might not go amiss here

 

What does your credit file say?

Are you still paying the original creditors

Or are any of these with dca's

 

DX


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

Share this post


Link to post
Share on other sites

Have the creditors frozen interest n any of the debts ?

 

Do you dispute any of them ?

 

Is there PPI which can be reclaimed ?


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

Share this post


Link to post
Share on other sites

FYI I started a DMP with step change 12 years ago paying 85pm on 39k. Later I increased my payments to 200pm . My balance is now approx 25k and I am still paying 200pm. Phone step change and explain your circumstances have changed so you need to reassess your payments.

Share this post


Link to post
Share on other sites
FYI I started a DMP with step change 12 years ago paying 85pm on 39k. Later I increased my payments to 200pm . My balance is now approx 25k and I am still paying 200pm. Phone step change and explain your circumstances have changed so you need to reassess your payments.

 

Yes indeed it does work, not an instant fix of course but very little is, I find.


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

Share this post


Link to post
Share on other sites
FYI I started a DMP with step change 12 years ago paying 85pm on 39k. Later I increased my payments to 200pm . My balance is now approx 25k and I am still paying 200pm. Phone step change and explain your circumstances have changed so you need to reassess your payments.

 

Paying for 12 years!

Cash cowed?

CCA time


If i have helped in any way hit my star.

any advice given is based on experience and learnt from this site :-)

Share this post


Link to post
Share on other sites

That is the plan ! Just wanted the OP to know that Dodgeball is correct and there is no need to make such large monthly payments if it is a struggle as the OP stated. I would not recommend such a long DMP but reducing payments in the short term could take the pressure off while the OP looks into possible solutions.

Share this post


Link to post
Share on other sites

To me if they have suspended interest payments and are only asking for the money you borrowed, in effect offering n interest free loan, then there is littler else that honorably they can do and you should pay s long as it is an arrangement within your means. CCAs and the like should be reserved for the many creditors who do not/have not behaved so well.


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

Share this post


Link to post
Share on other sites

I totally respect what you said Dodgeball and my intention was always to pay my debts in full

however now I have a young family and my husband and I are struggling financially on one income

and to put it bluntly I don't want my children to suffer because of my past problems.

 

 

My plan is to CCA because I want to know if the DCA's could potentially go for CCJ's if I reduce my payments or offer partial settlements.

 

 

I suppose I need to do SAR requests too because I think over £1000 has been added in interest etc since the DMP started.

Share this post


Link to post
Share on other sites

The DCA's who added the £1000 I might stop paying unless we come to an arrangement. Just don't want to risk CCJ's.

Share this post


Link to post
Share on other sites
The DCA's who added the £1000 I might stop paying unless we come to an arrangement. Just don't want to risk CCJ's.

 

Hmm how come a dca added interest, was this a debt purchase by them, can i ask who they are and who the orriginal creditor was, and also are they still adding interest to the account


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...