Question:

Cant afford my debts?

by  |  earlier

0 LIKES UnLike

hi my husband had to change his job and now he earns alot less than he did before and now we are relay struggling to make ends meet i work to but we have 2 kids so i dont have the option to work more hours I'm in touch with the CAB. but at the moment there not doing a great deal to help. iv even phoned places about consolidation but they said they cant help i have a mortgage and other debt and I'm so depressed i just relay dont no what to do and even my wee girl has caught me crying any advice would be great thanks!

 Tags:

   Report

9 ANSWERS


  1. Try writing to the  main companies you owe money to - set out your financal position and tell them that you can not continue to pay the current amount at present , ask them to consider eiether extenting the loan period , or to give a period where you only pay the interest .

    They may well not like it , but if you stick to your guns most will agree ....its better for them to have you paying something each month than default completely .


  2. Hi i know exactly what you mean.  My wife and I went through the exact same thing.  The first step to becoming financially stable is to look at your highest debts and see how you can save money on them.  What we did because we were behind on our mortgage payments was a loan modification.  We were able to get caught up and lowered our payments.  If you have an adjustable you will be able to get a fixed rate.  Then what we did was credit repair where we disputed all of our debt and were successful in having a lot of it removed.  It takes time and effort but if you have the right people working for you your stress level will be reduced.  I know what you are going through if you want you can email me and I will give you the contacts I used to get on the right track.

  3. I'm about to leave, so I don't have enough time to type out a full answer for you but here's the link to someone else's question which might give you helpful advice:

    http://answers.yahoo.com/question/index;...

    God bless you.

  4. I am so sorry to hear about your debt problems, you need to take a moment to yourself, take a deep breath and understand that there is something you can do about it!

    Often facing up to your debt problems is the hardest step to make, and the fact that you are seeking help is a great place to start...

    If you feel as though CAB are not working well enough for you then there are other debt management companies you can go to. Try OneAdvice.co.uk, they have a really informative website and can offer you free debt advice and information about your debt.

    If your debts are over £15,000 then you might be suitable for an IVA which can consolidate your unsecured debt (things like credit cards, store cards, catalogue debts and overdrafts) into one reduced payment. Creditors will freeze the interest and charges and your unaffordable debt will be written off.

    However, best thing to do is to get in touch with a company who are friendly, polite and can help you.

    Good luck, hope you get your debts sorted.

  5. do some stuff on ebay

    buy things that are popular then sell them for quite a few bucks more people will pay for they if they like to stay at home and want to get something but don't what to go out and get it they will pay more to get it offline its worth looking into.

  6. http://debtcash.blogspot.com/

  7. You might find others peoples experience on the same issue very useful:

    http://forums.moneysavingexpert.com/foru...


  8. I will advise you to go for Bad Debt Consolidation loans

  9. Hi

    You can take an debt management advice from http://www.shakespearefinance.co.uk/debt...
You're reading: Cant afford my debts?

Question Stats

Latest activity: earlier.
This question has 9 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.