newbie

[look_divine]

halifax
barclays
lloyds

[indebtforever]

i would contact them and tell them you are struggling ask them to reduce payments till you sort a home and what you are entitled too at least you can save a little till you get sorted because if you do go the iva route you will be told to stop paying them anyway

or maybe a call to your CAB could help they will contact them and sort it for you free while you sort yourself out

[look_divine]

can i do that i thought they automatically defaulted you if you didnt pay the minimum payment?

[Viki.W]

That's good advice from indebtforever, you can use the template letters from this forum, they are listed on the left. Sorry, I'm tired and didn't read your circumstances correctly before. When you're all sorted then you should approach an Insolvecny Practitioner. Good luck.

[look_divine]

where are the template letters please

[Viki.W]

You will default but if you can't afford to pay them then that's what will happen.

[indebtforever]

i am similar to you but i went to my local CAB they wrote to my creditors and sorted a payment plan with them for me free you can also find out everything you are entitled to

[Viki.W]

On the left of this page

[look_divine]

i havent defaulted yet i havent missed a payment

[look_divine]

which template do i need to use sorry for seeming dumb

[Viki.W]

I hadn't missed a payment either but I had more going out than coming in and was clearly insolvent. When you know what you income and expenditure is you will be able to see whether you are insolvent or not. If you're not then you won't be able to do an IVA but you may be able to negotiate with creditors via a debt management plan. If you are insolvent then that is when you should approach an insolvency practitioner.

[indebtforever]

if i were you i would book an appointment at your local citizensadvice they will do all the work for you as you cant afford to be paying all your wages to the debts and you will get advise on all what your are entitled to.

[look_divine]

i know i wont be able to keep up the payments and runa home etc
there is no way i could
I know i will have to get a iva if possible, but untill i know what i will be getting and not getting then im in limbo really
glad of a chat though made me feel alot better
thanks everyone

[Lisa2009]

Hi and welcome

It wont really matter if your creditors default you. If you know you wont be able to afford to pay your debts when you move and you are thinking of entering an IVA, your credit file will be shot to pieces for 6 years anyway so i wouldnt really worry about asking for reduced payments till you find your feet.

Best of luck to you xxx

[look_divine]

thanks mrs skint, just found a website near to me that offers recylcled furniture and electricals for people on income based benefits, dont know if that includes peole on working tax credits mind I will have to investigate, would be so helpful as they say they sell items from 75p - £10 like washers, tvs sofas etc etc
too good to be true you think?