22 Mar 2015

A question about : Finances are a mess and not sure where to begin?

I was on a DMP with CCCS for this past year but have recently been kicked off due to missed payments. The reason payments were missed was an unreliable car, we have just spent Ј600 this past month getting it fixed again, we have spent over Ј1000k on repairs this year but of course none of this matter to CCCS so we got turfed off.

We then tried Payplan who are more interested in getting us on an IVA even though we don't qualify due to our car being on HP being taken out by a family member for us as we could not get credit.

So we are basically lost at the moment, creditors have not been paid for 2 months now.

Basically we have Ј15K debt not including our car between my partner and I, I earn min wage, my partner only works 5 hours min wage per week.

So need some advice on where to start.

Best answers:

  • Hi falko
    Sorry to hear about your recent experiences. Any chance of you putting your Statement of Affairs (SoA) up as it will be easier to then offer some advice?
    In the meantime, a couple more things you could clarify:
    Do you rent or own your home? If the latter, do you have equity?
    Is the family member covering the HP payments for you at the mo?
    - Obviously SoA will answer both these questions but thought I would ask anyway.
    Dennis @NDL
  • How much were you paying to stepchange a month?
    Did you speak to them in advance about needing to drop to token payments due to the unexpected expenses?
    If you still feel a DMP is suitable for you (and it might be sensible to post a statement of affairs as suggested above) then you could consider doing a self-managed DMP. You can get template letters to send to your creditors from the various debt advice charity websites and you then pay each creditor direct yourself (obviously it takes a little more effort and organistation than a managed DMP).