Self managed DMP - management issues already - scotland

[Yorky55]

It isnt a great thing to have to worry about all these things. I am sure someone on this site will offer some great advice.

 

Priority debts need to be sorted first; Rent/Mortgage, Council Tax, Utility

 

- Dont quote me as I do not know the legal points around this;

but Overdrafts, catalouge, card debts are not priority.

I would sit down and work out exactly what your priority debts and living costs are, deduct from your income.

Look at all your cards, loans overdrafts etc, list them all, starting from the highest interest charging ones, think what and which ones to work out a realistic monthly payment, dont overpay what you cant afford. 

I would consider not using the cards etc, as you will be adding to your debt and problems.

I would contact someone Like Stepchange or Citizens advice, they will offer you some very good advice and ways of contacting your companies you have debt with.

Dont be afraid of your debt companies, write to the fully explaining situation and what you can realistically offer, do not be preasurised into paying more than you can

I personally prefer contact by post or e mail rather than telephone.

Ive no idea what Factor, Monzo is, but may well fall in line with what Ive said.

 

Keep a note in a diary of every call you made or who contacted you, ask for names, keep and copy all letters to and from as this may be helpfull further down the line for record keeping.

 

Do not ignore contact as this just adds more stress for you and the problem wont go away.

 

Make sure you make your affordable monthly payments, every month, even if they say we wont accept it, its to low. 

 

As you have a lot of stress going on, I would certainly contact someone like Stepchange or Citizens advice, 

 

Good luck

[Yorky55]

I am sure more experinced people will be able to advise and help.  From experience, why not contact National Debt Line, very good for;

a] sorting and printing you budget sheets, so if need arise you can send one to debt people, showing exactly what may or may  be left over for debts, making sure your priorities are sorted and other living costs.

b]  Also good for templates to use for letters etc, or ask on here

c]  Also register an dthey can offer advice on the phone or on line.

However, again, personal experience, try not to use current credit cards, especially if you cant afford the repayments, I am not sure how the debtors view pro rat repayments when you payig other current debts.

It does sound a upseting situation, but do not pay them anything more that you can safely afford, even a £1.

Hope you get it all sorted. I personally, again experience, do not phone, accept calls, e mails, I prefer and advise, letters only and keep proof of all documents. Keep a diary to not all actions, contacts, messages, months down the line you may need them to refer to.

 

all the very best

 

 

 

[Yorky55]

@dx100uk  true, very good point.

[Yorky55]

important thing @Stuckfast not to get to worried or stressed [easier said than done] you have a lot of debt built up, dont go adding more on new cards if you cant pay for it.  Re work your budget sheet, leave only a amount to pay back and stick to it. Do what is best for you.  good luck