I have managed to fall into debt problems?

in uk?. go to citizens advice bureau for help and guidance. it's free. they will help you. basically,start with your income write it down, deduct all your expenses, rent, council tax, food, gas, electric,water, travel,clothes, cleaning, car tax, insurance and MOT, all legitimate expenses, add these up and deduct them from your income. whatever is left is calculated as pro-rata payments to your creditors (debts) to bank, credit card, catalogue etc etc. this is why you need to go to CAB, they will sort it out for you and write to debt people, even if it is to make a nominal payment of £1 per month until you gain employment and are able to start paying more. don't ignore the problem, go to cab and take as much information and proof of income bank statement etc. do it now. you may be able to claIM HOUSING BENEFIT AND COUNCIL TAX BENEFIT,

No, the sky is not falling, but Sequestration is equivalent to pruning the branch while sitting on the part being pruned. Here is the thing. Any business does not immediately shed its work force and shutter operations as soon as it hits a rough patch. Prudence dictates operating in the red for a time insures the ability to come back strong and viable. Many businesses will choose to invest more during a slowdown to better prepare for changing markets when things turn around. It is the same for families. When a family loses a paycheck, they certainly tighten belts, but they don't pull the kids out of school, stop paying the mortgage or become instant deadbeats. Many wisely choose to take on added debt to tide them over - Even investing in things like education and training to better expand their options for future employment. So why it so hard to understand government debt in the face of an economic crisis? Not only that the economy is growing and spending is flat - meaning that our spending as a percentage of GDP is shrinking as is the deficit. Seems to me we need to be thinking of doing more of the same instead of wrecking things to suit the sensibilities of those that can't think this through.

Karen

1) Contact your loan provider and advise them that you have lost your job and cannot afford to pay the monthly repayments as they stand - you want to make an arrangement to pay a reduced monthly payment and be considered for their interest-reduction programme.

2) I assume you have already done (1) with your card providers - if not - DO IT NOW

3) Assuming you do not have an unauthorised overdraft on yur bank account - you have no problems with you bank account. DONT WORRY about this bank account - but do ask to transfer to a non-monthly payment current account if you have one where you pay a monthly tariff. If you have an overdraft - make sure it is authorised now.

4) Go to the Citizens Advice in your local area (book an appointment first with a financial expert there) and start to get some personalised help.

DONT WORRY - you are about to take the first few positive steps on getting a really good grip on things!

Good luck!

Yes, you are an accountant, so you may now calculated the lost of your account, to be settle your problem, you need to have financial adviser or bankruptcy attorney to help you to settle. Because Facing up to your financial problems is difficult. If you’ve reached the point where you think bankruptcy is your only option, you will probably already have experienced everything from denial to praying that you win the lottery.

pay your credit card before your mobile. I used to pay my bill every three months when I had sprint once I found out they never reported to the credit agencies and wouldn't shut the phone off without like a 3 week notice.

I have been in similar situation...

I was recommended these people form the CAB

http://www.cccs.co.uk/

they talk you through your debts and income

Work out a payment plan and tell you how to organise your creditors...

have you applied for housing benefits? other benefits?

you can get your rent paid directly to your landlord...

you shouldnt lose your bank account unless you own them money...

You can get accounts which dont have over drafts (if you do need to change banks)

Call the CCCS they are free and dont ask for fees (charity based)

also make sure you are getting your full benefits and entitlements.

check out moneysavingexpert.co.uk for money saving ideas too...

they also have forums for debt problems (very helpful)

Good luck

As an ex accountant you will be aware that many loans and credit card agreements cannot be enforced in court. Get them checked and challenge them. Email granary36@yahoo.co.uk for help.

sorry to hear this.

http://www.adviceguide.org.uk/index/life/debt/help...

or try the citizens advice bureau.

good luck to you

karen what the fu-k are you asking us if you are accountant.