Debt counseling

[The Moose]

I have a family member who is in need of UK based debt counseling services. Does anyone have any experience/recommendations?

Feel free to PM if you'd rather not post publicly.

Thank you!

[Pieman68]

First port of call would be Stepchange

I have no issue revealing that my ex wife left me in the st with more going out than coming in. Stepchange helped me get into a position to reduce payments across the board and look to pay my priorities

It took a while but I eventually got into a position and paid every penny back. It was hard work but I got there in the end

Sometimes circumstances happen. There's no judgement from them, they just help get you where you need to be

[anonymous-user]

Do these agencies do much other than state the obvious? Do they have any sort of leverage to get the creditors to agree to better repayment terms than you would be able to do yourself?

I do wonder if people go to these agencies hoping they have some magic solutions and maybe have powers to get the debt written off?

[The Moose]

Joey Deacon said:

Do these agencies do much other than state the obvious? Do they have any sort of leverage to get the creditors to agree to better repayment terms than you would be able to do yourself?

I do wonder if people go to these agencies hoping they have some magic solutions and maybe have powers to get the debt written off?

I have no idea. In this situation, it's quite complex and I'm hoping to get some guidance on a path forward as opposed to actually getting stuff written off.

[snoopy25]

Pieman68 said:

First port of call would be Stepchange

I have no issue revealing that my ex wife left me in the st with more going out than coming in. Stepchange helped me get into a position to reduce payments across the board and look to pay my priorities

It took a while but I eventually got into a position and paid every penny back. It was hard work but I got there in the end

Sometimes circumstances happen. There's no judgement from them, they just help get you where you need to be

Stepchange, can'r recommend them enough

[The Moose]

Thank you - I will certainly pass the stepchange website/phone number on.

[TonyRPH]

Try CAP (Christians Against Poverty) - you don't have to be a Christian to get help from them.

It's also a charity.

Edited by TonyRPH on Wednesday 18th May 11:31

[HTP99]

Stepchange, won't say why or how I know but they are your best first port of call, they are also a charity so there is nothing financially in it for them.

[Pieman68]

Joey Deacon said:

Do these agencies do much other than state the obvious? Do they have any sort of leverage to get the creditors to agree to better repayment terms than you would be able to do yourself?

I do wonder if people go to these agencies hoping they have some magic solutions and maybe have powers to get the debt written off?

When you're in a mess it can be difficult to see the obvious though. People said to me that I could get my debt written off - from a moral point of view I didn't want that, as to write the debt off (credit cards for example) whilst benefitting from the goods bought on those cards felt like it would constitute theft to me personally

They don't need leverage - they just go through your finances thoroughly, work out your essential outgoings and then help you work out what you have left and what approach to take next

[jeremyh1]

Joey Deacon said:

Do these agencies do much other than state the obvious? Do they have any sort of leverage to get the creditors to agree to better repayment terms than you would be able to do yourself?

I do wonder if people go to these agencies hoping they have some magic solutions and maybe have powers to get the debt written off?

I agree with you Joey You cant get blood our of stone I cant see the difference it would make changes nothing
One consolation for anybody in trouble
A long time ago when I was a kid a wise old man that was well off and running a logging company on Exmoor told me

If you owe money its not you that needs to worry
Its the F££££er you owe it to that needs to worry !

Hope this helps !

[Silvanus]

I started off with citizens advice who had a financial specialist then I ended up going through Payplan. To be honest both were bloody useless other than they helped me get the ball rolling and helped me realise what I needed to do. I guess they were the kick up the arse I needed to get my head out of the sand.

[iphonedyou]

jeremyh1 said:

I agree with you Joey You cant get blood our of stone I cant see the difference it would make changes nothing
One consolation for anybody in trouble
A long time ago when I was a kid a wise old man that was well off and running a logging company on Exmoor told me

If you owe money its not you that needs to worry
Its the F er you owe it to that needs to worry !

Hope this helps !

I'd say that's pretty unhelpful.

Your wise old logging sage was (badly) rehashing a quote often attributed to John Maynard Keynes, though JMK himself coined it from sources unknown.

[Silvanus]

iphonedyou said:

jeremyh1 said:

I agree with you Joey You cant get blood our of stone I cant see the difference it would make changes nothing
One consolation for anybody in trouble
A long time ago when I was a kid a wise old man that was well off and running a logging company on Exmoor told me

If you owe money its not you that needs to worry
Its the F er you owe it to that needs to worry !

Hope this helps !

I'd say that's pretty unhelpful.

Your wise old logging sage was (badly) rehashing a quote often attributed to John Maynard Keynes, though JMK himself coined it from sources unknown.

Agree, when you are at your wits end, worrying if you can pay the bills or afford food and bailiffs might be knocking at your door, knowing the banks might be worried is of little consolation

[HTP99]

Joey Deacon said:

Do these agencies do much other than state the obvious? Do they have any sort of leverage to get the creditors to agree to better repayment terms than you would be able to do yourself?

I do wonder if people go to these agencies hoping they have some magic solutions and maybe have powers to get the debt written off?

They assess your income, outgoings and debts and then suggest the best course of action, usually either a DMP (debt management plan), IVA or bankruptcy.

When you are in financial problems it can obviously be very stressful and dealing with all of your creditors can be very daunting, companies such as Stepchange can contact all of your creditors on your behalf with suggestions for a plan to pay it all off, whilst interest is frozen, they know what to say and who to deal with, you then pay Stepchange directly via a monthly DD and they distribute it amongst your creditors, not sure they have any leverage as such but they are experienced in dealing with this kind of thing, which to the common man is extremely helpful and it takes much of the stress away.

There are other debt management agencies out there that take a percentage of your DMP payment for themselves but they are no better than the charity funded non profit organisations such as Stepchange, they all do exactly the same job.

[super7]

iphonedyou said:

jeremyh1 said:

I agree with you Joey You cant get blood our of stone I cant see the difference it would make changes nothing
One consolation for anybody in trouble
A long time ago when I was a kid a wise old man that was well off and running a logging company on Exmoor told me

If you owe money its not you that needs to worry
Its the F er you owe it to that needs to worry !

Hope this helps !

I'd say that's pretty unhelpful.

Your wise old logging sage was (badly) rehashing a quote often attributed to John Maynard Keynes, though JMK himself coined it from sources unknown.

It's very true......

If you owe money and you can't pay it back, making it the creditors problem takes a lot of stress of your shoulders.

[jeremyh1]

super7 said:

It's very true......

If you owe money and you can't pay it back, making it the creditors problem takes a lot of stress of your shoulders.

I am a bit shocked that you should be all talking about this on here !

I mean you all claim to be driving 50 K plus cars ect ect !
What happened ? Did the electric bill come in this weekend ?

Now the economic slump is about to kick in we might see on here who was living above their means ! and it wont be me because they dont give finance on the car on my profile !