'Helpful advice' entries 6-8 by Finance News Bulletin

Published: 16/05/07

BBC News website person who reads Sayara Beg, 36, a freelance IT consultant from East London, has been telling her tale of dealing with money owingHowever, money is very tight and I need to take act before direct debits start bouncing and I am hit with store chargesI find it quite shocking that many of my creditors do not seem to be taking my monetary plight seriouslyI do not have store cards, or employ purchase agreements, catalogue items that need paying, so the only direct debit I find I need to keep is my self-employment insurances to cover my relations and my debts in the occasion of illness or deathKensington mortgages have confirmed in writing that in the event of arrears, there will be no penalty charges imposed

This is a relief Credit where praise is due, Kensington have always responded quickly to my letters I desire I could say the same thing for my other lendersI have not heard from any other of my seven creditors since sending them particulars of my upcoming appointment with the Consumer praise Counselling Service (CCCS)

Locking horns with a solid or government agency Got a different kind of individual finance or consumer affairs problemI find it quite shocking these creditors do not seem to be taking my financial plight seriouslyThis feeling of nervousness is made worse when I pick up a voicemail communication from Birmingham Midshires

I am confused because I have already come to an arrangement with this creditor Previously, they had decided to give me a two-month payment holiday cover the months of July and AugustI call the compilation department and it's a case of the right hand not knowing what the left is doingI give details the situation and the Birmingham Midshires envoy goes off and speaks to another department

After being put on hold for a few notes, they came back to me, apologising for the confusionHalifax have confirmed the three month payment festival, mentioned in last week's diary entry They accuse a £60 upfront feeThe way the fee is explained, it seems as if this is an ongoing fee, but after quizzing their envoy on the phone, I am told firmly that it is a one-off charge

Several things have struck me about the attitude of my creditors and the people that labor for themNational Debtline: A free, confidential and independent service funded by the section of Trade and Industry and the praise industry Tel: 0808 808 4000Business Debtline: Provides a free telephone debt counselling repair for self-employed and little businesses, funded by banks Tel: 0800 197 6026customer Credit Counselling Service: Funded entirely by the credit industry, the service offers advice to populace in debt

Tel: 0800 138 1111people Advice: Offers free, independent and confidential advice from more than 700 locations throughout the UK Tel: 0207 833 2181Overall, the terminology used is very confusing and the people on the other end of the phone do not have any power to negotiate with meOften, though, the superseding impression I am given is that I should be ashamed, humiliated by not being able to meet my money owing repayments for a short period of occasionI have been brushing this feeling aside because I am determined to take control of my situation and remain in authority of my finances

My goal is to return to work, after the delivery of my child, without unnecessary financial overheadsBut I can not help but sense that other people, already feeling fairly depressed about the situation they are in, would simply slide into further depression after chatting to their creditorsI realise why debt counsellors are in such demand Speaking of which, I am due to have my chat with the CCCS

My counsellor, Norrie Gordon, discusses what constitutes my priority and non-priority money owing, as well as my income and outgoingsAs I understand it, my main concern debts are those which could lead to me losing my property or facing court action - for example, committee taxUltimately, it dawns on me that the budget I worked out at the start of this process is not up to taskWe go into the cause for my cash crisis; namely, the early termination of my self-employed contract when I revealed to my employer that I was pregnantI have spoken to equivalent Opportunities charge over whether this was a breach of sex discrimination law and I am due to see a lawyer at Citizens Advice

I am considering captivating my former employer to tribunalThe debt counsellor goes into substantial detail about my outgoings and I realise how my original financial financial plan had not considered putting money aside for things like automobile servicing, MOT, middle heating repairs and washing machine failuresUltimately, it dawns on me that the budget I worked out at the start of this process is not up to jobReally simple things could damage my plans

For example, I will be at home with the new infant and this will mean that my utility bills will be higherThese are accounts that do not offer an overdraft but allow straight debits, debit cards and a cheque volume I am going to look into theseMy debt counsellor made me reconsider my money

But the one hour proves to be too little occasion, so we agree to talk next weekSo my next move is to open one of these accounts and put up a token refund to my creditors I am a long way from the end but I feel pleased to have conventional some neutral adviceThe opinions expressed are those of the author and are not detained by the BBC unless specifically stated

The material is for universal information only and does not constitute investment, tax, lawful or other form of advice You should not rely on this information to make (or desist from creation any decisions Always obtain independent, professional advice for your own particular state of affairsRefused credit Ex's debts 1 Ex's debts 2

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