advice desperately needed!

Discussion in 'I Have a Question...' started by Landlocked blues, Sep 23, 2010.

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  1. Landlocked blues

    Landlocked blues Well-Known Member

    I need anyones advice on what I can do cant my financial situation. I currently owe money from co online lending company which I am late in paying off. My rent is two months overdue and I have maxed out my credit card! Neither I or my husband have jobs, him being due to just left university and me due to the fact I cant keep a job due to my mental issues. I am currently under investigation for disability benefits but god knows how shit the money is. We have no one to borrow off. Is there any advice anyone can give me? Maybe your in or have been in the same situation?
  2. curious-mind

    curious-mind New Member

    I'm in the same position as you, its an awful soul sucking, anxiety to live with.

    I was talking to someone last night who volunteers with the CAB (citizens advice bureau) and she told me to make a list of all debts, incomings, outgoings and collect together all letters received. Take them into your local office. The people there WILL help you get this issue sorted.

    Wishing you all the best :)
  3. No_Life

    No_Life Well-Known Member

    can you not go into your local council offices/job center and tell them this? they may refer you to a financial adviser, or at least tell you what help you can get with your situation. are you on the dole or getting any financial support?
  4. Landlocked blues

    Landlocked blues Well-Known Member

    Thank you so much. I will be sure to do that. Im sorry your in the same position. It is awful and I wouldn't wish it on anyone x
  5. Landlocked blues

    Landlocked blues Well-Known Member

    Im not getting any support just yet but im under investigation for disability benefits x
  6. Madam Mim

    Madam Mim Well-Known Member

    I'm not sure what advice I can offer, but I used to work for a loan company and was dealing with people in your positions all the time.

    From the other side of things, the CAB are very annoying and, in my opinion, not very helpful to their clients. Basically, what they do is write to your creditors with a list of your income and expenditure and offer them a nominal sum (usually £1 per month!), which they won't accept (because it's ridiculous!), and your account will become bad debt and be sent to a debt collector. However, the CAB do have the right idea - collect all the info on what you owe to who, as well as working out your income and expenditure (which is also helpful for working out where you can save money, i.e. stop smoking, drinking, etc). Then I would personally recommend writing to your creditors yourself, and offering them as much as you can afford, preferably at least 10% of your regular payments, as this is often the cut-off before bad debt.

    Also, if you write to them yourself you can explain your personal situation, which the CAB don't usually do; they use a template letter. Don't by any means make it into a sob story, but be honest and definitely mention that you're waiting to hear about DLA, and perhaps hint (but don't promise or they'll hold you to it!) that in the future your payments could increase. If you write your own letter, my only other advice is to be neat and coherent, and make an effort to use correct spelling, grammar and punctuation, as you will be judged on your letter, so if your letter is scrawled on a scrap of paper (I once had a letter on an envelope, and one on a page torn from a diary!) and riddled with spelling mistakes, you'll be judged as a pikey loser and your offer will probably be turned down. It's a sad but true fact, I'm afraid.

    My only other advice is this: if you end up speaking to your creditors on the phone, don't get angry or abusive. Never forget that a) the person you're talking to is just doing their job (and probably hate it), and b) the person you're talking to probably has the ability to send your account to a debt collector, so be nice to them!

    It's a terrible position to be in, and you would think that there would be more help out there, considering the percentage of the population that's in debt, but with a little polite negotiation there's no reason you can't get this sorted without too much trouble. Good luck.

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