i need help with debts????perhaps on advice how to control them?

Question

day in day out telephone calls,letters on about my debts i owe altogether its about 3 thousand pounds perhaps a little more anybody know of people who can put me on a debt managment plan without a huge fee????

I LIVE IN THE UNITED KINGDOM NEAR BIRMINGHAM??

Answer 1

if your adventerous, get a job over here in iraq like i did. i came over here $125,000 in debt back in 2003. by next april, i will be totally debt free. i would have been done a lot sooner, but i splurged a little on my vacations. i'm with halliburton(kbr), but there are many companies over here that pay well. the first $80,000 is tax free. each month i bring home anywhere between $8,000 to $11,000 a month(bring home), depending on if it is a four or five week month. it can be dangerous at times, but i have been here 3 1/2 years and i still have all my fingers and toes. good luck.

Answer 2

You can put yourself on a debt management plan for free. What you need to do is gather all of your bills. Get a large lined notebook and list the bills into three catagories:

1. Credit cards/ Interest bills
2. Current bills
3. Past due bills

In your first category, the credit card/interest, list them in order of interest charged. Meaning if one charges you 25% interest and one charges you 7%, put the 25% one down first.
In the second category, list the bills according to importance to your life. Such as rent, electricity and food are important, those should go on top, but entertainment should be on the bottom of your list.
Last category is reserved for those bills that have already come to pass, but still need to be paid off. List them in order from lowest to highest.
Once you have listed all of those, take a look at your budget and see what you are going to be able to work with once you have taken out the taxes and the money for your living expense from category 2. DO NOT include anything that is a luxery such as entertainment, but rather the first few items. A cell phone is not a requirement, but rather a luxery, while as a house phone may be more important to you.
Pay off your current bills first, on time, and then start to pay off the credit card debts with the highest interest. Then when you get done paying that one, go onto the next interest charged bill. With the smaller bills in the last category, pay off one of those bills a month, or more if you are able.

Cut back on your excess spending, like going out to eat, cable tv, cell phone (lower minutes), raise your insurance deductable on your car so you have to pay less money for insurance, skip the morning coffee from the local coffee shop.

It will take a while, but if you stick to a clear and concise budget, you can get over what is owed. Once creditors see that you are making an effort to settle bills then your credit worthiness will raise. The more you ignore it- the bigger the problem will become.

Answer 3

1)List debts with highest interest. Reduce it first. and move on to the next one.
2) Live within your means of income. If your debt repayments are more than savings then immediately sell some assets and pay the debts so that they are lesser than your savings.
3) Get extra income by a second job.
4) Be frugal

Answer 4

DO NOT go into a debt arrangement plan. You need to take a deep breath, stop responding to all calls. Let creditors know you will speak to them once a month, you will be sending in a payment. Debt management plans are notoriously horrible for your credit and horrible at sending in your payments. You need to slowly attack your debts, from smallest to largest. For free, you can listen to financial advisor Dave Ramsey on his website (daveramsey.com). Click on "listen", then listen to the archived shows. He gives common sense advice in an easy to understand manner. You will hear caller after caller with your same question. It will help you immensly, and you won't have to pay a dime to anyone but your creditors. You will turn your life around, I promise!!!

Answer 5

You can negotiate "hardship" payments with your creditors and avoid the expensive debt management company middleman.

Just call your creditors and inquire about their hardship plans. You generally have to be 60-90 days delinquent to qualify. They will usually offer to reduce interest rates and monthly minimum payments, plus waive late fees and overlimit fees.

Do NOT accept their first offer. They will counter-offer with an even better deal. Hold out for the best deal you can make.

Cut up all your credit cards and close your accounts. And then stay out of debt for the future! Good luck to you.

Answer 6

You should see if you could consolidate the loans to a lower interest rate, or perhaps a 0% credit card (if they have them where you are).

Otherwise, maybe a second job would help until the debt is paid off.

Answer 7

Maybe you shouldn't have run up bills you couldn't pay! But since you did tell your creditors you will only communicate with them via the mail. They have to honor your request to only contact you through letters. Then send in a payment every month, as much as you can afford. Also tell them that if they cannot work with you , you will have to file bankruptcy, this will get them to work with you, most likely. And for goodness sake, learn how to manage your money! Do you want to be retiring with no money to your name?

Answer 8

Get on the Internet and look for a not for profit debt agency; there are hundreds of them available!

Answer 9

there are commercials on tv that have companies that you can call to help you with your debts. there are many and they are 1800 numbers.

Answer 10

right now i really dont know but i may find some soon and then i ll tell you