Fending off credit cards while I sort out finances

[mybrothershelper]

Hi,

 

A freind of mine suggested I try this site to get some informations and hints on how to help out my brother who is completley deaf and is suffering from depresion and is also in debt.

 

I am trying to find out ways to deal with the debt and if possible get it reduced. He has 3 credit cards, a bank loan and a Burtons cards.

 

Can anybody suggest my first line of 'attack' !!

 

 

I look foward to hearing from you soon.

 

Many Thanks in advace.

 

mybrothershelper

[suecrill]

Hi

Welcome to CAG please take your time and read around the Forums - I promise you that you will be inspired and be able to help your brother with your new found knowledge and from the help available here.

 

First of all IMHO you should start a thread in all the relevant forums. You will need to read the faqs.

 

If it was me in your situation, I would first investigate if there are any unlawful charges that have been applied to the bank loan. Also check out his bank account for charges.

You need to read the threads on the debt action part of the site paying attention to CCA requests with regards to the credit cards and the Burton card

 

There are lots of people on this site more informed and qualified than I am to give you advice, but if you need any help please dont hesitate to contact me if only for a shoulder

Take care

Sue

[gizmo111]

Hi an welcome to CAG

 

First off do as Sue says and send a SAR to all his creditors to see if there are any charges that can be reclaimed to reduce the debt.

Work out how much he can afford to pay each creditor, after he has paid his priority debts and living expenses, and write to them making this offer even if it is only £1 per month whilst you sort out the charges.

Open a new bank account for his income, with a bank that he does not owe any money to.

Check that he is claiming all that he is entitled to on entitledto

 

I will move this thread to general debt, unless you have somewhere else you would like it to be.

[Josie8]

Hi an welcome to CAG

 

First off do as Sue says and send a S.A.R - (Subject Access Request) to all his creditors to see if there are any charges that can be reclaimed to reduce the debt.

Work out how much he can afford to pay each creditor, after he has paid his priority debts and living expenses, and write to them making this offer even if it is only £1 per month whilst you sort out the charges.

Open a new bank account for his income, with a bank that he does not owe any money to.

Check that he is claiming all that he is entitled to on entitledto

 

I will move this thread to general debt, unless you have somewhere else you would like it to be.

 

Also an idea to CCA them seperately to see if they have valid properly executed agreements that are enforceable. Good luck

[Roger66]

Hello mybrothershelper,

 

Because of my problems with my bank in the run up to claiming my charges back, I ended up in all manner of bother with several cards as the bank left me with no money to pay them on occaision. Unfortunately I was so depressed by this and other personal problems I left it to stew and am now struggling along, although I have managed to agree reduced payments in the short term until I can formulate a more rigid and acceptable plan for both myself and them.

 

Write to each in turn. Introduce yourself and explain why you are helping your brother, and ask them for their help and advice in sorting this out. They will probably ask for a statement of income and outgoings, so try to calculate this in advance to support your request. If things prove to be impossibly tight let them see that. No institution expects you to starve in order to pay them, and they will be hard with you and him to start with but please persevere.

 

If they make a seemingly impossible demand, tell them so and counter their demand with an offer. As several companies are concerned, make sure each knows that they are not alone, but that you are taking the matter seriously to avoid any problems later on.

 

If all else fails you could approach the CCCS who can help you to formulate a repayments plan and as they are both a free service (a charity) and recognised by the card companies and banks, they may provide the weight you need to progress in an orderly manner.

 

My own solution will involve remortgaging our house to allow all the debts to become one single payment, but as we have had our mortgage for a fair time and the equity of the house far outweighs the value of the debt to be covered it seems an easier bet for us, but that is purely my opinion, and a decision we alone have made. Your direction will be different, but if you need help, there are plenty of people here to ask, and plenty of others who have sought help and posted here to tell how they got on.

 

Your detachment from the debt, even though you are helping your brother, should help you to view it with a more realistic eye than I was able to with the debt as my own. The options are many and various, please check as many as possible and the path should become clearer for sorting this out.

 

Your brother is lucky to have you. We are here if you need us, and can give hints and tips if the going gets tough. Best of luck,

 

Roger66

[JOSH_IOU]

read the How to and faq's they really do work.