Sorting out debt

[Mother hen]

Hello,
I have just found out that my son, who is 25yrs old, has a huge amount of debt. A lot more than I realised.
I am not able to help him with this, but also think it’s a very hard lesson he needs to learn. My concern is he is unable to keep on top of all the payments, which I assume are just interest only anyway.
Is there an agency who can help him amalgamate all his debt, find out exactly who he owes what too and how much, as I’m sure he does not even know the half of it. Would they be able to work out a payment that he can afford each month so that he can keep a roof over his head and feed himself? Any advice would be greatly appreciated. Thank you

[echat11]

The easiest way to find out what he owes to whom (which creditor) is to get a copy of his Credit Report, Credit Karma is free I believe.

There will be a summary of his debts. Put the data on a spreadsheet. Then what he could do, as most would be non priority debts i.e. loans,
credit card etc, some would be priority debts i.e. Council Tax etc, fill in a Income and Expenditure form and template, explain his circumstance,
then offer the non priority debts pro rota payments each month, if it's £5 each so be it.

The FCA states that Creditors should be 'understanding' when dealing with customers in debt.

https://nedcab.cabmoney.org.uk/splash-3.asp

https://www.citizensadvice.org.uk/de...itor---letter/

Update as you go along or with questions.

[Mother hen]

It’s really overwhelming, gosh, it’s amazing that they kept giving him credit cards….

[echat11]

It’s really overwhelming, gosh, it’s amazing that they kept giving him credit cards….

Try not to worry, you don't need to do it in one go, small steps over several days. It will be in control in no time, don't over think it.