Debt advice - exp with debt solution companies?

[AdiVic]

Hello - i'll try and keep this brief.......

We are up to our necks in it. 45k in debt, inc overdrafts, credit cards etc. 4 months behind on mortgage. Found it really hard to get through to mortgage debt advice line, kept getting hung up on, and when didn't get hung up on they couldn't understand us (we both speak clear english).

We are seeing an advisor from the mortgage co on wednesday (in the letter they said pre litigation) the advisor said he was coming around to find out how we could pay the arrears and future repayments.

We are going to get in touch with a debt solution charity/co.

Any advice on who to go to? Any experience of what happens?

Many thanks

xx

Re-post this in money matters, that's where you find all the finance professionals.

I could have written this post myself. We owe almost as much as this and it is terrifying.

We contacted a debt management plan and were informed our monthly repayments to them would only be slightly less. We decided to leave it.

Two unexpected break downs threw us off track and we have added 6 months of debt repayments.

We have no savings/buffer/fund for rainy day. We spend everything we earn month. I have reigned in spending every way I can;

No magazines/newspapers
No hairdressers
No eating out
Only clothes for the dc
Only buy replacement make up
Bring lunch to work daily
Bring lunch/snacks on ALL day trips - in fact whenever we leave the house

Try Stepchange or National Debtline - these are both free and won't charge you for any advice. Some companies will set up a payment plan for you but take commission for it, and there's no need to be paying when there are good free organisations you can use.

Stepchange advised how I could get my debts cleared through a DRO, it's coming up to the final 3 months now but I haven't had to make any repayments and once the period is up then my debts will be written off. If you have a mortgage they will advise something different, but you should end up with a structured repayment plan and won't have to deal with harassment from creditors.