Hello

[rosie49]

Hi to you all. I am hoping i can concentrate on my situation which I have neglected for too long. I have been raising my 3 Grandchildren, 14, 7 and 5 yrs and life in general has just been a bit stressful. So I now have to face all the other important things in order to ensure the kids have a stable upbringing.
Thanks in advance for any help. x

[PlanB]

Re: Hello

Hello Rosie

Tell us how we can help?

[rosie49]

Re: Hello

hello planB
ive been looking around the forum and see lots of helpful guides. My finances took a tumble when I took the kids on. Social services promised me all sorts of help. Nothing materialised other than what the little uns would be entitled to by way of child benefit and tax credits etc. i took out more than my share of payday loans and neglected my commitments. Now the kids are fairly settled, its time for me to send off letters with offers of repayment and budget sheet etc.
Thank you

[labman]

Re: Hello

Debt is not hard to sort out usually. Before you actually tackle anything though, you have three main options to arrange repayment ofdebt:

1. A fully managed Debt Management Plan (DMP) where you pay a charity £x.xx per month and it is distributed pro rata amongst your creditors.
2. A self managed DMP where you physically distribute the money.
3. A halfway house such as Cashflow from the Money Advice Trust where you complete an Income and Expenditure form with a licensed debt adviser, they sign it off as being true, then you distribute funds.

NONE of these should cost you one penny, so please don't pay for anything.

Also, are your priority debts such as mortgage / rent, gas, electricity, council tax etc... up to date?

There are people on this forum who can help you with a Debt Management Plan if you wanted, and several big charities offering the same service so you've come to the right place.

[rosie49]

Re: Hello

hello labman and thank you. i am up to date with rent etc as i get pension credits. i am mainly struggling to keep up payments with payday loans and finding them a bit unhelpful when i told them i couldnt maintain full money last month, they took it anyway from my card so i had another loan etc etc. another payment is due next monday.

I will look at all you have suggested. thank you for your reply. i dont feel so bad now i have told someone.

[labman]

Re: Hello

Hi Rosie,

Re the Payday loans. Tell your bank to cancel the Recurring Payment Authority to ALL the Payday Loan companies and follow it up with a letter sent recorded delivery asking for confirmation they have done this. No money should then be taken.

It is not a bad idea in your situation to open another bank account totally unrelated to the group you currently bank with - there's a list at the bottom of the page on this link:

http://www.moneysupermarket.com/news...o_0003118.aspx

Have your salary / wages paid into the new account, then YOU decide who it goes to. Pay the payday loans only what you can afford, and don't be pressured by their letters, texts and emails.

Now follow the advice on the first post as your money will now be safe!