Small bit of advice for those with debt issues.

DailyGeek · 17 Mar 2006 at 13:16

/Public Service announcement

Visit www.cccs.co.uk

The Consumer Credit Counselling Service. Its a registered charity - a free service.

I have been panicking about my debt for so long now. I have just come off the phone from my initial appointment and we've worked out a debt management plan. Things are looking up, I see an end to my debt and I will have (a lot) more to live on each month.

Just a heads up to those that maybe having sleepless nights worrying about their financial position.

I haven't felt this positive for a couple of years - please try them now, its a free phone number.

/Public Service announcement over.

McDaniel · 17 Mar 2006 at 13:17

very nice, not to worried myself, but you never know

Sic · 17 Mar 2006 at 13:20

i just sorted mine out, but i did it all on my ickle lonesome. i will now be debt free in just over 3 years (assuming i dont take anymore on :rolleyes:

) and i have enough to spend and save every month as well. it's an awesome feeling. almost worth getting yourself debted-up just to sort it!!

DailyGeek · 17 Mar 2006 at 13:22

Sic said:
it's an awesome feeling. almost worth getting yourself debted-up just to sort it!!

lol - well done mate. Its wierd to think how quickly you get into debt and how long it takes to get out. Its potentially life-shattering, but I just wanted people to know there are people out their to assist you. They aren't all dodgy companies like you see on Sky

McDaniel · 17 Mar 2006 at 13:24

DailyGeek said:
lol - well done mate. Its wierd to think how quickly you get into debt and how long it takes to get out. Its potentially life-shattering, but I just wanted people to know there are people out their to assist you. They aren't all dodgy companies like you see on Sky

you mean they dont all walk in 45degree angles???

:eek:

Sic · 17 Mar 2006 at 13:38

it's funny you should say that because i found that walking a tightrope with brightly coloured boxes with "store card" and "bank loan" written on really helped me to balance my finances and consolidate to one easy payment.

i'd carry on but speaking like that annoys me

Rich_L · 17 Mar 2006 at 14:45

Excellent post. And with it I'd add that with the CCCS available stay the hell away from any commercial companies offering to do the same - they do the same job but take a cut so you will clearly be worse off!

DailyGeek · 17 Mar 2006 at 14:49

Rich_L said:
Excellent post. And with it I'd add that with the CCCS available stay the hell away from any commercial companies offering to do the same - they do the same job but take a cut so you will clearly be worse off!

Exactly my point

MoNkeE · 17 Mar 2006 at 15:04

McDaniel said:
you mean they dont all walk in 45degree angles???

Marcus Brigstock :cool:

-RaZ

Jez · 17 Mar 2006 at 15:07

Sic said:
and i have enough to save every month as well.

Am i missing something here, why are you saving when you have debt to clear? Surely your debt is at a higher cost than you are earning on your savings?

Rich_L · 17 Mar 2006 at 15:11

Jez said:
Am i missing something here, why are you saving when you have debt to clear? Surely your debt is at a higher cost than you are earning on your savings?

Savings are useful to have as a buffer for unusual expense and not just as an interest-earner.

Particularly when consolidating debts you can't 're-borrow' on that loan so if you put the money you would save into paying it off then you end up with less debt but if something comes up you wouldn't have a reserve of money to use.

gjc10212 · 17 Mar 2006 at 15:15

My Ex - had a few credit cards one with Barclaycard the other Capital One. She moved address and didnt notify the above, all correspondence has been returned to sender and they havent chassed her for the debt.

Will she get away with this? Its been 2 years now, her credit file is a mess which doesnt bother her because she doesnt have to repay £5k.

Sic · 17 Mar 2006 at 15:31

Jez said:
Am i missing something here, why are you saving when you have debt to clear? Surely your debt is at a higher cost than you are earning on your savings?

what Rich_L said, plus im saving to have some cash for when i move out, and i've thought about this from every angle so i can afford to do all the things i want to do (well, not ALL). it's not really about how much money im going to make interest-wise, more about clearing the debt off and having a bit stashed away at the end.

i'm pretty proud of myself as i'm normally terrible with money!

Visage · 17 Mar 2006 at 15:43

gjc10212 said:
My Ex - had a few credit cards one with Barclaycard the other Capital One. She moved address and didnt notify the above, all correspondence has been returned to sender and they havent chassed her for the debt.

Will she get away with this? Its been 2 years now, her credit file is a mess which doesnt bother her because she doesnt have to repay £5k.

As long as she doesnt want any kind of finance, any kind of loan, any kind of mortgage for the rest of her life she'll be fine.....

McDaniel · 17 Mar 2006 at 22:33

MoNkeE said:
Marcus Brigstock

-RaZ

aye, very good he was too

singist · 17 Mar 2006 at 23:04

Don't forget to claim all those unenforcabe charges too ... BBC story

Banks and credit card companies ......... all the same .... precedents already set so no arguments really.

See Here

Lets all go get our money back from these robbing ********!