Today's the day, and I'm a bit scared

tranceaddict

Morning All

Well today is the day I go to the post office and send letters to my creditors, return my credit cards and let CCCS have all my completyed paperwork for my DMP, and I have to admit I'm a bit scared.

So farI haven't missed a single payment, so everything is up to date and good with my credit file, however with £50K worth of debts and now at the limit of my overfraft I know that in the next month I would sink, so I am trying to be pro-active, not re-active.

It's the first time in over 20 years I won't have a credit card on me "just in case", first time since I left school that I won't be with my bank (I've opened a basic cash only account no overdraft etc), who I have to say over that time have been excellent to me (during the good and bad times).

All this change is frightening, I know its for the best as eventually I will end up debt free (well thats the plan) but it's such a huge step.

How did other's feel on this sort of d-day? Did it work out OK?

Some helpful words of encouragment would be great.

R

dolally_2

Good Morning,

I have been on a DMP with the CCCS and it went very well. To be honest I ended up paying a lot less each month than I would have had I done a budget myself! They are experienced at what they are doing though and know that being skint for a couple of months is very different to coping on no cash for the length of a DMP, for this reason they go through the budget carefully to make sure it is something you can live with.

You might experience a bit of badgering from creditors in the first couple of months but just tell them that the cccs are dealing with it and it is a bit like showing a dog a rolled up newspaper (memorise your client number to get them off your back super quick!)

All you really have to do once it is up and running is your yearly review.

I wish you the very best of luck and think that it is great that you haven't buried your head in the sand over this!! Just be aware that your credit rating will be affected!

scooterwife

Hello tranceaddict :j
Yep, felt exactly the same - almost two years ago now though.
bit sick, bit worried about what would happen, bit ashamed that I had got into such a mess, bit excited that I was dealing with it at last.

Things have been easier, I no longer rob Peter to pay Paul, but the lack of a credit card "just in case" is seriously scary isn't it.:eek:

My best bit of advice would be to trytobuild up your emergency money from your budget into a savings account so that when you do have an emergency it is there - I wish I had been stricter with myself on this, but I am trying to remedy that now.

You will get phone calls and letters and some of them will try to frighten you - this isn't personal, it is just their job. Stay calm and repeat that you are paying as much as you can and give them your cccs number. If they get really awful ask them to only deal by letter and then refuse to talk to them on the phone.
Mostly we have had reasonable responses - depends who your creditors are.

Take it one day at a time - and remember they can't have what you haven't got!

Best of luck :A

Cerisa

You sound like you're doing very well. Keep your chin up!

In_Search_Of_Me

Just to say well done for dealing with it. Today is the first day of the rest of your life. Being without cc will be scary but whats the alternative? Hang in there and keep posting!

peaceandfreedom

tranceaddict wrote: »

Morning All

Well today is the day I go to the post office and send letters to my creditors, return my credit cards and let CCCS have all my completyed paperwork for my DMP, and I have to admit I'm a bit scared..

...[snip].......

Some helpful words of encouragment would be great.

R

Just wanted to say that I wish you the best of luck and you can be safe in the knowledge that you are doing the right thing. It may be tough to begin with, especially as you have always kept up-to-date so far, but once everything settles down, you'll be fine.

You are making big changes and that takes great courage and you deserve congratulations for that.

mummytofour

I felt sad, hollow even but relived over time i have become a hard nosed person with regards to the creditors and I am no longer scared.

tranceaddict

Hi

Thanks very much for all the positives, makes me feel much better (and that I'm not alone).

Just got back from the post office, everthing has gone, it does feel kind of good knowing that I'm starting to take control of things and within a few months hopefully everything will be running smoothly.

Don't think I'll get many phone calls, they may have my number, but all the phones in the house are on silent (I work shifts and don't appreciate being woken up after my nights!) so I never hear anybody ring anyway. I changed my mobile last year and as far as I know they don't have my new number, and I don't answer to any number thats not in my phone anyway, so it will just be letters or e-mails, which I shall respond to saying I have forwarded it to CCCS and they should contact them. Seems easier to deal with that way.

I do get the occasional bit of overtime, which CCCS don't take into account as it's not regular, so that money will go into a little savings pot in case of emergency.

Well thats the plan anyway, I'll keep the forum up to date with how my creditors react as and when I find out.

Many thanks again

R

Kudox

Hi trance addict just read your post and wanted to say a quick thanks for making me feel that i'm not alone, today was my day to do all that stuff too, cccs are setting up my dmp,credit cards are gone and its the first time in about 25 years i've not been with my bank too. I've been avoiding the phone for weeks and mostly have it unplugged or my OH answers it and tells them I'm not in.
I feel scared but relieved.
Good luck.

trulymiserable

Was just wondering if anyone could offer me some advice on cccs i have just done their debt remedy after being refused with payplan theyve suggested a low start debt management plan but do you have to sned all th epaper work off yoursefl ? was just wondering as it shows how to work out pro rata payments you shouls make dont you just send the payment to cccs? also do you still have to deal with your creditors directly when u use cccs ordo they call them for you?