Door step loans debt...need advice

missusM · 31 January 2013 at 7:23PM

Hi,

This is the first time for me here, so please be gentle!

I've accumulated debt to three doorstep loan companies - Provident, Greenwoods and Shopacheck. My total debt is £3000. The repayments were becoming a nightmare and I've been struggling for the last few months to make ends meet. This month took the biscuit really. I had no money from my income to buy food, my contact lenses, prescriptions and get the cat her booster jabs. To be honest I feel as though I have snapped and cannot go on like this.

I've now decided to enter into a Debt Management Plan. However I am having trouble sleeping and generally functioning because I am so worried about the debt. I have been assured that as I am willing to pay the debt then I shouldn't worry, but herein lies the issue:

I live with my mum currently. My family know me for just being appallingly bad with money. A couple years back I fell into a similar financial crisis. My mother asked me to PROMISE not to get into this situation again. I feel sick for breaking that promise. She will go ape about the fact I've borrowed from such lenders who have such a shockingly high APR. I feel stupid and disgusted with myself.

The lenders would always meet me elsewhere in order for me to give them their weekly payment and state they understand why it cannot be done at the house. So it's been this big secret. The last time I was in this situation she said she cannot have me living here if this situation were to occur again.

My worry is around the collection agents and that because they have this weakness to manipulate in terms of it all being hidden from my mum then they will turn up at my door demanding money or threaten to do so in order for me to 'cough up' what they want off me.

I just need to know my rights really. I would be so grateful to speak to anyone who has dealt with door step loan debt and has come through it all. I am willing to pay it back, just not at the high interest they want and it will of course take me a good two years to clear it.

Would it better for me to ring the local office for these companies and explain the situation and give them details of the DMP or speak to the agents directly? I am reluctant to do so as I feel they will give me the hard sell, or threats about it people coming round to get what is owed...and I feel guilty enough as it is.

Please, can anyone help me?:(

Tixy · 31 January 2013 at 9:08PM

Hi and welcome to the forum

Are you doing a self-managed DMP? or using a DMP provider? If you are using a provider hopefully its not one taking a fee?

Anyway - I would send your initial letters to the companies. As soon as the agents know they won't be getting paid and that you are entering a DMP you may well find they stop trying to contact you - they won't earn anything from you so probably won't waste their time.

In the initial letter you send you can also put the clause about not sending round doorstop collectors (although I don't know that would be guaranteed to stop them with doorstop lending).

Template letter you could adapt http://forums.moneysavingexpert.com/showpost.php?p=23635529&postcount=60

missusM · 31 January 2013 at 9:32PM

Thank you so much for your reply.

Unfortunately one of the agents just came to the door which my mother answered, and then things really hit the fan. My mother demanded to know how much I owed and which absolutely furious and disgusted (naturally.)

I really appreciate your suggestions and will do this. I am with a fee paying company (when will I ever learn :embarasse:embarasse:embarasse) I know it's not the way to go, but I work 40 hours a week and to have someone tell me that they will take care of the correspondence etc is one relief and thing less on my plate.

I'm in such a dark place. I wish my mother never had to find out, as now she will be worrying to. She asked me when will people have to stop worrying about me. I'm thinking about joining a 12 step programme for people in debt. I worry about the fact I am so compulsive with money, always living so on the edge. I never actually have anything to show for it, it's just frittered away on useless junk.

I'm not a stupid person, taking these loans was the most stupid thing I can think of. I knew the interest was horrific...I hope things get better.

Thanks again

Door step loans debt...need advice

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