i dont know where to go or what to do...... where do i start?? its like i get more and more letter and phone calls every day..
2007-03-14 00:32:03 · 17 answers · asked by cadippoz 1 in Business & Finance ➔ Personal Finance
Contact the Citizen Advice Bureau. They can help you to get out of debt for free by arranging with creditors for you to pay back what you can afford each month!! They will also offer free help and advice on how to better mangae you finances to prevent further debt in the future
Do not contact these companies on TV who advertise loans to get you out of debt. You could end up paying more due to the interest. First step Citizens Advice Bureau!!
2007-03-14 00:38:06 · answer #1 · answered by Anonymous · 2⤊ 2⤋
Speak to the CAB or Payplan or CCCS. Admit your debts, dont hide them get a figure of what you owe then let these guys deal with it so you can pay back what you actually owe but in an affordable way. IVAs are to be avoided as is Bankruptcy unless it is mega bucks not 15-20k like.
The letters will still come for a while and so will the phone calls as they will want you to commit to more but stick with what you agree with the CCS/CAB/Payplan. At the end of the day the likes of the CCCS and Payplan are setup by the credit card companies as a way of making sure they get the full money back. Do not ever go to a company that charges for this, it is free!
2007-03-14 02:26:09 · answer #2 · answered by shayd 1 · 1⤊ 1⤋
have been there, owned the tshirts in various colours, seen the movie a million times and know the feeling just too well,, I was 60 thousand pounds in debt a couple of months ago. i have managed to get rid of 35K worth by remortgaging. you may not have the option to remortgage, but there is always a way out. you must stop hiding from it, ignoring it and hoping it will go away. it will just get worse, see the citizens advice, they can help you contact the banks and credit agencies to arrange a reasonable pay back scheme. keep your chin up, and remember, you are not alone in this, no matter how bad it seems, there is a sollution. dont keep it to yourself though.
i wish you all the luck in the world. and hope you get your situation solved at god speed
2007-03-14 01:37:35 · answer #3 · answered by dubliner 1 · 1⤊ 1⤋
Go to Citizens Advice Bureau and AVOID the companies on TV. If you look at the small print on the tv ad for a £25,000 loan over a few years you end up paying £42,000!!!! CAB are honest and not there to rip you off. Don't feel ashamed about going either - millions of people are in the same boat - at least you are willing to take those steps. Good Luck.
2007-03-14 00:42:32 · answer #4 · answered by Charlene 6 · 1⤊ 1⤋
Before you do anything else, you should pay a visit to the GET OUT OF DEBT section on financial website The Motley Fool, regarded as one of the best resources in the world for advice on getting out of debt.
Here's the UK version for you to have a read through, and see what your options are:
http://www.fool.co.uk/school/2006/sch060104.htm
2007-03-14 06:54:05 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You should seek advise from your bank and let them know you are in abit of a pickle - they will advise you re: you particluar position and usually try to help.
By not addressing the problem you may sink deeper into debt until you are in doodoo deep. Then people will start using the bailiffs if you fail to pay. Start at the bank - they are obliged to help.
Having read the above - sounds like citizens advice is worth a go as well
2007-03-14 00:37:07 · answer #6 · answered by Lord Onion 4 · 1⤊ 2⤋
you have to phone all the companies you owe money to.
tell them your situation, that you can't afford to pay them.
tell them they'll have to take you to court.... (they know that if you do go to court the court will take even less than you offer them) they will ask you what you can afford to pay, so give them an amount you can afford to pay weekly or monthly.
they will then freeze the interest.
I did all this .
I am in serious debt and was paying back a fortune each month.
So now I pay back so much less each month, it's fantastic.
I can afford to pay back debts on top of living my life too.
Good luck and don't worry. you'll get help and you'll be fine
2007-03-14 03:13:11 · answer #7 · answered by flips 3 · 0⤊ 1⤋
Go to see the citizens advise bureau they are fantastic. If you do not spend some time looking through it all working out how much you owe in total and to how many places. It may not be as bad as you think. I did that and was surprised by how little it was, it just seemed like loads.
Hang in there and it will get better.
2007-03-14 00:36:32 · answer #8 · answered by l_f_smith 3 · 1⤊ 1⤋
Call the Consumer Credit Counselling Service on 0845 2725400. They can reassure you and help you come to an arrangement with your creditors. Their help is free and impartial as they are a charity. All the biggest credit cards and creditors are familiar with them and it's easier than dealing with it all yourself as it can get really overwhelming. They also have a website www.cccs.co.uk. I really reccommend them, as they're very friendly and non judgemental. Good luck.
2007-03-14 00:49:47 · answer #9 · answered by Thinker 3 · 1⤊ 1⤋
(UK) The Citizens Advice Bureau have specialist, highly trained debt advisors. Make an appointment to see them. They don't charge a penny.
2007-03-14 00:36:03 · answer #10 · answered by Anonymous · 2⤊ 1⤋