Getting really worried now!!!!! please help

I have been on an DMP with CCCS for two months now and am starting to get really worried as one of my creditors egg has sent a default notice and have followed it up with threats of legal action.

I have 3 creditors:

egg
Halifax
Nationwide

I owe egg approx £9,000, Halifax £13,000 on a credit card and £10,000 on a personal loan and Nationwide £3,000 overdraft. All lending is unsecured.

I have outstanding mortgage balance of £126,000 and am paying CCCS £411 per month.

My income is £2,000 net a month and I support a wife and three children and am the only one working.

I am paying interest only on the mortgage.

I really think that an IVA may be the best option for me now but what do you think the likelihood of my creditors accepting it?

This is really getting me down and is all I spend my waking hours thinking about, and has affected my mood around my family even though it is not their fault.

I work for the prison service so cannot go bankrupt and my house is worth approx £145,000 with my car worth around £6,000.

I look forward to all of your advice.

Replies

  • BismarckBismarck Forumite
    2.6K Posts
    Hi...hang on in here until the DMP experts arrive....from what I've read, legal threats are more huff and puff than anything else.....

    take care...ps. are you getting all the working tax credits you're entitled to? Sorry if you are...just worth checking..
    For what I've done...I start again...And whatever pain may come ...Today this ends... I'm forgiving what I've done -AF since June 2007
  • hey kroeger my BF started his DMP with CCCS 2 months ago he owes £27K and is paying £265 a month will take 9 years !!! but we have had threatening letters from his credit cards i just bin them ! it does take a few months for the DMP to be accepted properly by the creditors so give it a bit more time and try not to worry if you are gice CCCS a ring and they will put your mind at rest ! my BF is a massive worrier thats why the threatening letters go in the bin and i dont tell him ,he already made himself ill before we sorted the DMP , so i dont want him to be any morte stressed than he needs to be ! on a lighter note if you want me to come and put your threatening letters in the bin as well i dont charge lol x ring CCCS for peace of mind or sit and read the pack they sent you it clearly outlines what creditors acn and cant do ! good luck paula x
  • LelcLelc Forumite
    558 Posts
    Hi Kroeger - I've been on my DMP with Payplan for over 2 years now. Initially I was still getting letters from creditors about non-payment and threats of action etc. One of them did pass my account to a DCA and they contacted me too. I just sent any letters to Payplan and referred any telephone callers to Payplan too. It does stop but it just takes a while for the message to get through.
    Proud To Be Dealing With My Debts - DFW Nerd 323
    Debt free date - January 2012
    Mortgage free date - November 2013
    Cross stitch cafe challenge member no 16
  • TigertTigert Forumite
    467 Posts
    Debt-free and Proud!
    Hi,

    Don't worry about Egg, they sent me all sorts of threatening letters for at least 3 months, but then accepted my DMP and have been really quiet since.

    If my experience is anything to go by, they will send you every possible letter including one saying they will assign your debt to a DCA. But they never actually did anything.

    Hang in there it will quieten down.
    LBM : March 2008 :cry:
    Debt Free Date : 25th July 2012 :)
    DMP Mutual Support Thread: #170
    Long Haul Supporters Thread : #115
  • kroegerkroeger Forumite
    47 Posts
    Thanks for the kind words of support. I am getting al childrens tax credits due. My halifax loan and credit card have been passed onto collections agency. The card to Albion collections and the loan to Blair Oliver and Scott.
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