Please help......

in_despair_3 · 24 January 2006 at 9:58AM

I am sitting here at work, in tears because I can think ofnothing else....

I feel sick to the pit of my stomach, and desperately need some help....

I am incredibly worried about the debts that we owe. I am also worried that in approaching the CCCS that I will start off a snowball effect that will make the situation worse (we are at the moment meeting all of our repayments, and creditors have no idea that we are struggling)

I have frightened myself half to death reading a thread on here about compannies selling on debts as soon as they recieve a copy of your DMP. I am ill myself through stress (although I am still at work), my husband is seriously ill at home, being looked after by social services and the last thing I need is a load of hassle from creditors phoning me at home.... does this really happen?
How likely is it?

The companies we owe money toare Northern Rock (23,500 loan), NATWEST (11,000 Loan), And 2 credit cards (Northern Rock, which is actually MBNA and Abbey National)

Please help me.... I am scared to death of what is going to happen....

JAMIEDODGER · 24 January 2006 at 10:07AM

hello in despair. you have done an incredibly brave thing, youve made the first step. (((hugs))) to you hun.

the first thing you need to do is post a full statement of affairs (SOA) listing your entire income and outgoings and debts with aprs and balances.

once you have done that, we can help you with a plan on how best to deal with your situation. there are loads of great, and knowledgeable people on this board of whom im sure will be straight in with ways to improve your situation.

take your time to look around at the threads, read how people, like yourself, have turned things around, and it all started with posting on this board. no one will judge you hun, we are here to help.

JD xx

ozzyfan_2 · 24 January 2006 at 10:18AM

Hi in_despair & welcome :hello:

I too am up to date with payments like you but contacted the CCCS & have an appointment in Feb. I am so pleased that I have done this & felt so much better after ringing them, with the help & support of everyone on this site I feel I can get through this period in my life. You have nothing to lose by ringing them it could be the best thing you've ever done!

When I first came on here I was advised to post my incomings & outgoings (SOA) & if you could do the same you will get lots of help & support too.

big hugs & try not to worry, you have a whole new bunch of friends now so you're not alone

xx

Mrs_A. · 24 January 2006 at 10:35AM

hello and welcome,
like you i posted for the first time yesterday and the relief i have felt since has been astonishing, its good to know that everyone on theses boards is here to help and offer support and advice. take it one small step at a time like i am doing together we will get there.
good luck
love
Mrs A.

in_despair_3 · 24 January 2006 at 11:35AM

Incomings
wages 1450
tax credits 350
dla 411.6
child benefit 69
incapacity 370
Total 2650.6

Outgoings
BRITISH GAS SERVS £44.13
CAR INSURANCE £38.39
COUNCIL TAX £115.00
LIFE INSURANCE ME £7.10
LIFE INSURANCE HUBBY £21.09
MORTGAGE £477.52
Gas and Electric POWERGEN £65.00
WATER £23.48
TV LICENCE MBP £11.07

NORWICH UNION £17.60

House insurance £28.93
BT Internet £15.99
DGS/RPP DD £21.20
Union fees £7.50
sky £40.00
childcare £500
visa £200.00
visa £120.00
NORTHERN ROCK £281.94
NW PERSONAL LOAN £230.32
Social services help for my husband £216

MONEY OUT 2442.26

Money left 208.34

I am at work at the moment, and dont have the ACTUAL debt figures or rates with me, but the rough outstanding amounts on loans and credit cards are as follows:

Northern Rock 23500
Natwest 11000
Visa 11950
Visa 8000

Any suggestions what might happen? we have about £30000 equity in the house. Apart from that there are no other assets.
I have not accounted for food and groceries (there are 2 adults and 1 child in the house) and petrol, or any other unexpected stuff, such as prescriptions etc. I have not accounted for saving for birthdays/ christmas/car tax/emergencies......

What solutions do you think that the CCCS will suggest? As I said earlier, I am terrified of getting phone calls etc. My husband simply isnot well enough to deal with it all....

HELP PLEASEE!! I am desperate!

newmoneysaver_2 · 24 January 2006 at 11:54AM

(((Hugs)))

I'm not up on these things, but I'm sure someone will be along very shortly to help you!

Just a few questions:

What is British Gas Servs?
Norwich Union?

You gas & elec seems high, and obviously sky needs to be cut and childcare is an area to work on.

I'm not sure what APRs your creditcards are, can they be switched to 0% deals?

in_despair_3 · 24 January 2006 at 11:58AM

Sorry, British Gas servs is central heating servicing, appliance cover etc. I am prepared to let them all go, apart from the central heating cover, which should reduce this to £16 per month. We need the central heating cover becuase our system is dodgy, and we have called them out 7 times in the last 4 months - there is no way we could afford the actual repairs!

Childcare cannot be reduced - a childminder is EXACTLY the same price as a nursery, and there is no family to help.

Any more suggestions?

I would gladly get rid of Sky, but we signed up in Oct for 12mths - can I get rid of it before then?

in_despair_3 · 24 January 2006 at 12:01PM

Oh, and Norwich Union is a critical illnesspolicy that I would like to keep - if I get ill then we really ARE knackered!

newmoneysaver_2 · 24 January 2006 at 12:02PM

At the moment you are paying £40 a month to sky, this can be reduced to there lowest package - £8 i think! without you braking the terms of your contact. That would be a saving of £288 until Oct, when you can cancel it in full!

in_despair_3 · 24 January 2006 at 12:05PM

oh, I didnt realise that!! Thanks - I will phone and do that tonight!

fbrander · 24 January 2006 at 12:07PM

Hello there
I, like you have got me and my hubby in a real mess over the last 4 years but dont despair- there is great advice on this site and i'm learning fast. First work at reducing your payments on utilities and insurance. I saved a fortune by switching car insurance, house insurance etc. Speak to Sky about reducing your package. I did this last week and I'm down to £21 a month and they were very helpful. BT can also cut your bill quite easily. Switch your credit cards to 0% ones to save interest. Hope this helps a bit. There are lots of links on the site to places where you can shop around for insurance and things. Good luck

Please help......

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