Scared, worried and confused

GhostHunter_3

Hi

Im worn out today after a night of not sleeping but fretting whether to post or not to post!?

After spending about the last month trying (with the helpful patience of lovely folk on here) to get my SOA together and letters to send to make a proposal of a token payment to my creditors I am now finding myself worrying if its the best thing to do?!

I have to date been managing to repay my loans which are all up to date.

I havent paid my credit cards for past 2 months and have been ignoring their irritating phonecalls for past 2 weeks, just not answering the phone at all!

However all 4 credit cards seem to be giving me 1 last chance to pay up and get back into my limit zone.

I can just about afford to do this and am considering if thats wiser than taking them on and sending token payments of £1? I seem to be manageing to pay their minimum payments previuosly but got interested in setting up my own repayment plan. However CCCS and Payplan are unable to help as I dont have £100 left each month to set up a DMP.

Life is a struggle to repay what I owe but I see it being even more of a stuggle and for longer if I send these letters of £1 token payments. The last thing I want is to be dragged through court or have a ccj etc against my name.

Ive managed for 8 years to get by and not known any better way so wondering if I really am making a wrong move here. If things get worse, as I suspect they will come November, then maybe I can re consider arrangements then?

If I continue to pay the loans can I still come to some arrangement with the credit cards I know they may see it as unfair but the last thing I want or need to do is stop paying any of them suddenly.

Does everyone get these tense last minute back out while I can feelings?

Im really scared and dont have anyone I can talk to who would understand and not judge or tell me to go get a job and itll be ok :rolleyes: as if its an instant fix, more chance of me winning the Lottery with my qualifications!




Thanks everyone for helping me this far I feel im letting you down as I may change my mind
Should I reconsider as I should have some money due back of PPI, bank and credit card reclaims?

If only I could get 1 last consolidation loan to pay off the credit cards (and maybe the loans while im at it) I think I would be happier.

immoral_angeluk

Paying them £1 is better than paying them nothing, and shows to a court (if you got that far) a willingness to pay which would go in your favour. If you've drawn up an SOA and have £100 spare but are still struggling, could there be inaccurate figures or something missing from your SOA meaning that you have less actually available for your creditors?

Marky74

I was nervous before I agreeded to my IVA. Big decisions are always hard to do.

I am new to this board but they seem a supportive lot.

**Amy**

:hello:

A token payment (£1 etc.) is better than not paying your creditors anything at all, and if you do end up getting taken to Court it shows willingness to pay.

You say you have done your SOA, what is the outcome? How much money do you have "spare" or are you always in negative because of the amount of your debt repayments.

I would think that if you send the letters with details of your reasoning behind your token payments to your creditors, and you continue to payment that amount without fail, there is no real reason they can gain a CCJ etc.

Sorry im not being much help, but im not sure of all the ins and outs.

xx

GhostHunter_3

Thanks

Im really baffled with my SOA as it shows I dont exactly have £100 left at the end of the month. But in reality I can probably scape it together. But my SOA doesnt seem to show this. My benefits are paid fortnightly and the tax credit from hubby gets paid weekly and DD go out day by day but some weeks theres more than others. But to date its allways ballanced out to have enough money, even to scrape by paying the credit cards minimum payments, even if that means having less to eat for a few weeks!

Ive cut up all my credit cards anyway and told the companies I am just concentrating on repaying them now as I dont want them.

Am considering a pre-pay credit card for the near future. I have a 'Tuxedo' one at the moment but its not easy to use as it keeps getting blocked for some reason.

Is there a way I can ask credit cards to freeze interest and charges so I can concentrate on repayment? They should see after not paying for past 2 or 3 months I am having trouble keeping up and they seem willing to help with their own arrangemets they just wont say how much minimum theyd accept at the moment until they see an SOA.


I feel like giving in and answering the phone

GeorgeUK

Hi GH

Can you post up your new SOA using the calculator? It may help us see if it is possible to maintain your payments or if you are better off taking the plunge now.
http://www.makesenseofcards.com/soacalc.html

What are the interest rates on the cards and loans?

dancingfairy

Hmm - your SOA says you don't have £100 a month spare, but you think you can 'scrape it together each month' and you are talking about having less to eat as if you are depriving yourself. You also say I think it will get worse in November.
POst up your SOA and we can all have another look at it.

**Amy**

Hi

I agree with dancingfairy and George. You need to post a new SOA so we can try and see if it would be better to do token payments.

You shouldnt try and scrape together money for essentials such as food, its not a luxury which you could do without.

xx

GhostHunter_3

Hi Thanks everybody

I have reposted my soa on another new post soa 2

Be nice to see I could get by. :rolleyes:

Thanks