Welcome to the new Debt Questions forum. Feel free to say Hi and tell us a little about yourself.

Moderators: TalbotWoods, JaneClack

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By TalbotWoods
#468913 Hi and Welcome.

Never be worried by debt problems, they can be deal with with a bit of planning and understanding, but one of th ekey thins to so when seeking advice is to ONLY seek free and impartial advice.

Would you like to talk to someone CONFIDENTIALLY about your financial situation?

Would you like to talk to an organisations that is NOT going to charge you?

Would you like to talk to an organisation that CAN help you?

If you answered YES or MAYBE to any of these questions, then there are three organisation in the UK that can offer you free, completely confidential, personal and impartial advice on your money worries.

PayPlan: Is a national organisation with approaching 20 years of experience in dealing with all kinds of financial situations, no matter how bad they are.
Their advice and help starts with a simple phone call to 0800 280 2816

NDL: Is an organisation that advises you on solutions that are available to you, you can contact them on 0808 808 4000

StepChange (formerly CCCS) Is an organisation that advises you on available solutions with your financial problems. You can contact them on 0800 138 1111

Remember this forum is where you can still ask questions, where you talk to people who have been through financial problems themselves. And remember when asking things don't be afraid to ask it may seem odd or material to you, but that odd question can make the difference between dealing with creditors and DCAs easily or dealing with them the hard way!

By Bubs2014
#468923 Thanks a lot . I just got paid yesterday £16,00.00 all my wage had to go one payday loan and 2 more are due out tomorrow and I haven't got the money. Also my rent bills credit cards are due also in a few days!
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By TalbotWoods
#468953 Hi Bubs

Lets look at this form a parley pragmatic level at the moment.

You know what you income each month is, but do you actually know what your expenditure is each month?

Use the Budget Planner which can be found on the Money Advice Website (only YOU can see these figures) which can be found HERE

If you want you can also save the plan on their website so you can go back to it again

I would recommend doing it three times:

1 With all your debts and payday loans included.
2 With only your normal debts.
3 One with only your income less essential bills (such as rent, etc)

Once you have done this, look at 2, then think about where you can save money, so that the figure looks better. Remember think only about REAL savings makes sure you do include expenditure such as food!!

Getting back to the Payday loans , you have said you have paid one, have you rolled over either of the other ones?

Is your rent due to a Social Landlord or a Private Landlord?

Have you though about talking to Payplan, NDL or StepChange yet

By Bubs2014
#469253 Hello yes I've sent paperwork etc over to Stepchange and hopefully they will agree to set me up on the plan. Only thing now is I have no money any of my creditors this month at all . Not even a token payment ! Do I email them all to say I'm in the process of setting up a Dmp ??
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By TalbotWoods
#469283 Yes contact them, and tell them that you are entering into a DMP, if you have a reference number then give them that as well.

I would suggest you make it clear that you are appointing StepChange as your Third Party and they will be legally acting on your behalf.

Don't be put off if they contact you and try to tell you they cannot or will not accept your Third Party, under the Debt Collection Guidance, the very fact they acknowledge the email saying they wont, means they have acknowledged that they had been told, so immediately are in breach of the Debt Collection Guidance, which they are bound to follow (a plus in your armourer if needed later on!)

Once you tell them they are obliged to give you a window to sort this out with both your Third Party and the creditor/DCA. Might be worth asking for this, again they must but may say they cant, and ...... Yer you get the picture if they say no then they have acknowledged.....etc.

By Bubs2014
#469323 Thanks Tim just worried sick! Would you advise me to email them (as it's quicker ) or send a letter? And have you got like a template example...
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By TalbotWoods
#469343 Either, but word it in a way that you are asking them to reply to something, that way if they answer they unwittingly acknowledge receipt of the email/letter.

There is no template as such, but maybe something along the line of

Dear Sir/Madam

Account No:

I am writing to inform you that I am seeking advice and assistance from StepChange regarding my current financial difficulties.

StepChange are going to be my appointed Third Party Debt Advisory Organisation, and they will contact in the very near future. I would appreciate it if you could acknowledge that StepChange are acceptable to you.

To this end, I would appreciate it if you could hold action on the above account for a period of at least 30 days, if it has to go beyond this I will contact you again. I would appreciate it if you could agree to this by return, to provide me the space needed to deal with my debts.

Also, during this period, could you please freeze interest and/or any other charges accruing on the above account.

StepChange or myself will contact you again with further details of my financial situation and my proposals for repaying my creditors as soon as possible.

I look forward to hearing from you.

Yours faithfully

If you do it by letter I would suggest recorded delivery, as they may not reply, and if by email set the email to have a delivery/read receipt.

Please don't forget to let your case officer know that you have done this, so they can tick it as a job completed