Too Poor for debt counsellor...bankrupcy???????????

[Nemo1977]

hi
Well title says it really. Dh and I have got financial problems due to me having had to give up work 2 yrs ago. We have tried to sort out bills and have been in contact with one of those debt counselling companies who have said because we dont have enough disposable income to our names we are actually too poor to have the debt counselling. We are desperately trying to sort something out before db is due in dec. They dont take things into account like we only spend £50 a week on shopping as according to them for a week it should be £30 per adult and £20 for ds who is 2 next month. It looks like our only option may be bankrupcy but that means we would loose our home too. I just really dont know where to go from here.

Just spoken to dh and he thinks if they just do his debts it will be fine. Is that worth doing in order to bring some sort of extra income into the house?

so by the sounds of it you can afford regular bills (like council tax, electricity?) - it's just your old stuff creeping up on you?

I would contact benefits place to find out if you are entitled to anything (check any insurance aswell).

You can look for 0% credit cards (beware of any transfer fees) for the credit cards. If you are having serious difficulties with the loans and they are through a main bank, it's probably worth contacting the bank. It's in their interest to come up with a payment plan for you (something that is reasonable and affordable). My dh had to do this about 20 years ago (before we were together!) and the bank rearranged his debts - it took him years to pay it off but he did in the end.

I agree go see the CAB. I am currently supporting a young single mother who is in 16,000 worth of debt. She has no chocie but to go Banktrupt because she will never be able to repay it because she is on income support.
If you have an income you should be able to do IVA.
I think you would be definetly be classed as disabled as you were medically retired and are claiming DLA. ( unless they have exemptions)

nemo, i live in liverpool and work for mortgage broker, from bits ive read i dont see why you cant remortgage and consolidate your debts, even if u have bad credit.

cinderelly we are going to go to the bank on mon about the mortgage. We have also re looked at our finances and the woman was saying we have only £4 disposable income a month but we have worked it out to be £225 and she was saying we needed £220. Where would she be getting extra amounts from?????????

who's your bank? And who's the woman your talking about?

sorry
bank is hsbc and the woman is someone from the debt people who are debt counsellors who mediate for you.

Dont know what debt counsellor could be talking about??
Anyway, if you got a 3 bed semi its probably worth about 120k do you think? So that means youve got 60k equity, which means you could remortgage and get rid of your debts. There are loads of ways it can be done, its just speaking to the right people and telling them the right stuff. Id give you my email but I dont know how to!!

Speak to the HSBC, but dont be worried if they turn you down coz they arent very good and are very rigid.

lol cinderelly thanks...will see what happens at hsbc as apparently we have this cover on the mortgage where they give us £625 a month if I have been disabled for more than 12mths..which I have..just depends how they work it out. If thats the case it means we will have the money to pay other bills

I can also vouch for CCCS, both me and DH are currently using them, have been for about 2-3 years.

am not sure, but I dont think depression is covered but I might be wrong. I think if you've got letters from specialist it might be. Good luck

BTW who are CCCS? I thought they sold couches?

When you go to see CAB, you will initially see a Generalist Advisor. These advisors can help up to a certain point, but, for really serious cases, you will be referred by the generalist to a specialist. Most bureaux have a specialist money advisor. Check to see if your local bureau has one; if not, ask which bureau nearest to you does have one.

They are excellent and really know their stuff.

cccs are a credit counselling service.

I do have a psychatrist and cpn who can back up the depression if thats what you mean by specialist. I also see a psycholoist once a week...right fruit loop me

haha, u will probably be able to make a claim then. just get your policy out and read the small print. Am gonna check mine now, coz am not all there myself at the mo

hope there is something there for you then.

if u ever wanna chat feel free to email me.

will do, good luck Let me know how u get on