Feeling very low and depressed

Runnybabbit

Hi all,

I'm normally quite chirpy but today has been a real downer.

I've been sending letters to my creditors/DCA's asking whether they would consider a F&F Settlement, which is around the 50% mark. They've all come back and said no.

So in desperation I made contact with PayPlan to see whether I could be considered for a DMP. They have been great, but they advsied me that my one creditor HSBC, are well known for not accepting less than 80% of a debt and that they really don't hold out for much hope with them.

So now I've resigned myself to the fact that they will take me to court over this, I am deeply worried, deeply stressed out and can't stop crying.

I need some advice PLEASE from anyone who has been in the same situation.
Thanks all, sorry for the downer x

notenoughcash

I am sorry to hear you are feeling so down. I am no expert on debts but I personally went to hell and back a couple of years ago but I came out the other side ok eventually and things are finally on the up. There are some fantastic people on here who will give you some great advice very soon I'm sure but in the mean time I just wanted to say you are not alone and things will get better.

Chin up and lots of hugs x x x

NUFCnutter

I have no real advice bunny, but just wanted to send you hugs. :grouphug: I was on a real downer, crying and everything yesterday and this morning (must be a hormonal thing, eh?) until my cracking call that the DCA messed up on. Chin up bunny. You can and will get through this.

Deep_In_Debt

Hi
Did Payplan agree to put you on a DMP? Sometimes it's best to wait until the debts get passed to DCA's. I tried to negotiate with a couple of my original creditors and they would only accept 80%. However, as soon as they got passed around the DCA's I found I could negotiate from 40% - 60% so it may be worth hanging on and waiting for the debt to be passed on.

Runnybabbit

Thanks for the words of comfort - it means a great deal. Hormonal? I think you may be right with that one, got a splitting headache too, just feel really down at the mo and can't see any light at the end of the tunnel. NUFC, your letter looks fab, wish I had the inclination to write such powerful stuff. x

Runnybabbit

Deep_In_Debt wrote: »

Hi
Did Payplan agree to put you on a DMP? Sometimes it's best to wait until the debts get passed to DCA's. I tried to negotiate with a couple of my original creditors and they would only accept 80%. However, as soon as they got passed around the DCA's I found I could negotiate from 40% - 60% so it may be worth hanging on and waiting for the debt to be passed on.

Thanks for that. I have 2 creditors HSBC and MBNA (one of which is a business loan) and one with Metropolitan (which I believe is HSBC in disguise). As far as PayPlan agreeing, I am sending I&E via email, and I think they will then decide.

scooterwife

Sorry you're feeling so down.:A
Things will get better honestly.
Do you know that HSBC will definitely take you to court, or are you just worried that they will. And if they do, is that the end of the world - it's only money after all, and they can't have what you haven't got.

If you are trying to repay your debt that usually goes in your favour if it does go to court.

Did you decide to go on a DMP with payplan?

scooterwife

sorry, post crossed with yours! good luck if you decide on DMP

Runnybabbit

scooterwife wrote: »

Sorry you're feeling so down.:A
Things will get better honestly.
Do you know that HSBC will definitely take you to court, or are you just worried that they will. And if they do, is that the end of the world - it's only money after all, and they can't have what you haven't got.

If you are trying to repay your debt that usually goes in your favour if it does go to court.

Did you decide to go on a DMP with payplan?

I'm just worried that they will take me to court. I want to pay back what I borrowed, but they just keep making unreasonable demands on me, and as for the letters and phone calls, well that's another issue. DMP on payplan? - i'm waiting to see whether they accept me?

scooterwife

You could go down the route of sending letters to each of them asking that they only contact you in writing - theres templates on here somewhere - although I never bothered - ours stopped ringing eventually.

The reason they call & write is that they want to scare you into paying more than you can afford.

I just used to say that nothing had changed, we would love to pay more but haven't got the money, and this is our CCCS client number, thanks for ringing. Oh and I never used to answer their security questions, you know the ones, "can you confirm your date of birth etc" I just used to say no, you rang me and I have no idea who you are, would you give out your personal details over the phone to a stranger?

Most of us are scared ####less by the thought of going to court, and they know that, but reading through threads on here, the courts usually uphold the level of payment that payplan and CCCS recommend anyway, so as long as you are being honest with everyone theres not much else they can do.

notenoughcash

The online budget you can do on CCCS website is really good. I only have one troublesome creditor at the moment who is refusing to play ball. I have nothing cash wise that they can take and I'm paying them more than advised by CCCS but they still insist on taking me to court. I would have lost sleep over that prospect not so long ago but I have had so much reassurance from CCCS about what they are legally allowed to do that I'm almost looking forward to them making a fool of themselves in a court room. For example I have evidence of every payment I have made to them, copies of every threatening letter they have sent and details of every threatening phonecall they have made. Once you are clear and confident about exactly where you stand things will become much easier to cope with, I promise.