Advice please

[masma]

Where can we go to get some finacial advise for our son. He's got himself into debt following the collapse of a long term relationship. His bank won't help until he gets his overdraft paid off ( don't know how they think he can do that) I've been trying to ring the Citizens Advise for two days now and can't get through. He doesn't owe a fantastic amount but is getting in more and more of a state because of it. TIA

[CAJ1]

I would keep on trying CAB as they are really good. They may only be open on certain days at certain times which may be why you can't get through. Try visiting them and it should say on the door when they are open. You can also try their website for debt advice. Failing that I'm not too sure of who you would contact

[themas]

Alternatively, try CCCS or NationalDebtline (see websites). Both operate over the phone and are free. Do not go to any fee charging outfits.

[masma]

Thanks very much for your answers - I've looked on their web site for opening times and all I get is a voice telling me that they're charging 5p a minute but no-one answers the phone! Nay mind I'll keep trying.

[sandmaster]

Your son could enter into an individual voluntary arrangement with his creditors. He will need to convince them he is overcommitted but is doing his best to repay them. They will probably agree to accept lower regular repayments free of interest. There are some financial advisors which specialise in this and if you wish I will send you the name of one someone I know is using as he found himself in the exact same situation. This will be tomorrow as I need to get the info. Be aware though this is technically an act of bankruptcy and your son's credit rating will be affected (it is probably poor now anyway) and he will be unable to borrow again until all debts are repaid.

[themas]

Please advise your son not to go down the IVA route unless he has had fully independent free advice about the pros and cons of the various options he has. IVAs are being "sold" - and often mis-sold - by a lot of commercial outfits who make a living from the fees they charge. They are very rarely the best route for anyone who does not have a home to protect; also the debtor has to have sufficient income to be able to afford a substantial payment to his creditors each month for 5 years.

[Bbbananas]

I wouldn;t advise the IVA route either - not if his amount of debt is not significant.

Persevere with the CAB, or try Debtline or CCCS - especially CCCS. Also bear in mind that all these organisations are flat out at the moment, so it may take time & patience to get through to any of them.

Don't part with any money.

[tigerlily11]

If your ringing the main 08 number then don't. I work for them and I still haven't worked out why its there.
If you can go to your local CAB and they wil either ask you to saty and see an advisor or they will give you another number to ring. At least thats what we do at our branch.

[masma]

Thanks for all your replies it's very much appreciated. I got through to the CAB early this morning - I started ringing just before their opening time. They gave me some good advice and are sending us some literature. I think the next step might have to go cap in hand to his bank but we'll see what the leaflets say first. Once again thank you all.

[sunbeam42]

Try Christians Against Poverty - www.capuk.org - my husband works for them and they'll definitely be able to help your son. They are a debt counselling charity who will work with anyone regardless of belief, circumstances etc etc, and deal with creditors on your behalf. To get more info or to make an appointment call 0800 328 0006. Hope you get on OK!!