Does anyone know anything about debt?

[mookie]

I really need some help.


6 weeks ago my husband and I applied for a DRO. We have heard nothing since. It's only after I've done some investigation today that I've found out we don't fit the criteria. We own our own home but are in negative equity, have tried selling but can't.

When we applied we were told we definately fit the criteria and were advised to stop paying all non priority debts which we have done. I called the company pretending to be a new customer & was told there is no way a home owner would get a DRO.

What do I do now?? My debts are too high to pay and after all the priority debts have been paid we are left with less that £50 a month. I have debt collectors turning up & I'm terrified!!

Please can someone help!!

 

[karenandbump]

Hey hon, def get in touch with the Citizens Advice Bureau - they should be able to help and pretty quickly too x

 

[Kezzamunster]

Hey hun

With the debt collectors, is there anyway you can get them to agree a long term payment plan with reduced payments each month?

Or you could call PayPlan, they are a free service & will help arrange a debt management plan for you & will deal with all creditors on your before

xxxx

 

[Esoames]

My mil got an voluntary insolvency thing and she's a home owner. Hope you get sorted, hugs xx

 

[mookie]

Thank you ladies

All together the debt is around £10,000 & with loads of different people. I'm really scared as we live on the minimum amount we can and spend about £100 on food a month for 3 of us, you couldn't really say we are surviving. We don't really have the money to pay.

I'm so upset that things have been getting worse for 6 weeks and we thought we had a solution on the way. We haven't even got a cot for lo to sleep in

I've tried phoning CAB but no one answered, will have to go to their office & wait to be seen on monday. I feel so stuck & down.

 

[Piglet10]

omg feel so sorry for u hun, i honestly think money worries are defo one of the worst :/ hope CAB goes ok on <onday xx

 

[Smithy1980]

Hey hun, I've been in this situation. Call cccs, they are the same as payplan and will help u set up a monthly payment plan, they are free (a charity) and will organise everything for you!

Unlike some of these cowboy companies they won't make u pay anything more than u can afford and even this is after you have food on the table and a roof over your head! They are brilliant.....helped me out and my debts were mahoooosive!

Really hope u get sorted xxx

 

[BabysMomma]

Awk hunni I'm sorry you're going through this. Do you get any benefits where you can apply for a maternity grant in helping you buy stuff for LO? I know you have said that you own your own home, but have you checked with your local DHSS/Housing Benefit to see if there's any further help you can get if you guys are on a low income?

As has already been advised, I'd definitely get in touch with the CAB cos they should be able to advise you if you're entitled to any help and how to get the debt sorted.

Hope you can get something sorted. x

 

[k8_005]

is there anything in the house worth month you can sell things like a television, games console, jewlery, anything that could go on ebay to try and raise some cash? then maybe try talking to each of the lenders you have and see if an agreement could be made to pay lesser amounts each month for a longer period of time with frozen interest? definatly speak to citizens advice x

 

[titch]

The first thing you should do is contact all your creditors, including mortgage, gas and electric and water company and explain that you are having trouble paying, you'll be amazed how easy it is for them to stop the debt collectors and if you explain that you are going to CAB to get advice they might give you a payment holiday until you know what youre doing.

 

[isobel84]

Ppl knocking on your doors are bullies, that's there job, eitherway don't answer or if u do, don't cave in, be blunt n strong n don't agree do something u cNt afford. Xx

 

[daniph1]

Hey sweetie, you should see a lawyer who specialises in debt! They can sort this for you. You need to get a firm who has a civil legal aid franchaise and they could give you free legal advise and work!!1 These ppl are miracle workers! best of luck xxx

 

[NinjaKitty]

I went through this with my Mum and the CAB not long ago. I would definitely get advice from the CAB. My Mum had 16k of debt and is a pensioner with no hope of paying it back quick. Basically the CAB went through her finances and worked out income, expenditure and came up with a monthly budget. They found that my Mum could afford to pay £1.00 a month to each creditor. They then helped us write to all of the creditors and included the budget and the offer of £1.00 a month as long as they freezed the interest (i.e. so the debt wasn't getting any bigger. Basically the creditors have to accept because you are still offering to pay the debt. You may get some back who say that this is not acceptable however even if they take you to court the court will see that you have offered to pay so would most likely think that the creditors are being unreasonable. We were told that the worse case scenario would be that the court secured the debt against the house and got my Mum to sell. Obviously I don't know your specific situation but I'd get help from the CAB ASAP if I were you.