Help not judgement please

miss_stress_2

At 23 years I had about 30k of unsecured debt, credit cards, loans, etc. My own fault, I was young, naive and stupid, I was earning good money and never thought about it.

Then however I went through a really bad time and my head just went west, I left my job without being able to get another and I moved and stupidly just ignored the debts hoping they would go away.

I'm 27 now and have just started getting letters, only from the small debts of 1k from capital one and 500 for orange but if they have found me, it won't take long for the other banks etc to catch up, will it?

What should I do? I have a 3 year old child and have recently come off medication for severe post natal depression and I don't know if I can deal with this. I am shaking like a leaf. I work part time and earn less than 8k a year, there's no way I can afford to pay this off.

Can someone help me please?

(Land_of)_Maz

Hi honey, well first of all Hello! and be reassured that you have come to the right place....

As i understand it, you currently only have 2 main creditors, for £1.5k so this is good... you need to get those 2 creditors onside and payments, however small, ongoing and keep these 2 accounts in good order... that way there should be less likelihood of others coming out of woodwork....

but you're probably right and some others may come, but for now all you can do it deal with the 2 manageable ones...

Can you post a Statement of Affairs, which is basically a list of everything in and out, and some helpful peeps will come along and make suggestions for savings, things you might be entitled to etc.....

You've taken the first step, so lets stay positive and only worry about what we know to be real, not what might come later....

Much love,

Maz
xx

miss_stress_2

Thanks Maz

I make 8k a year and get 180 a week in tax credits, nursery for my LO is 90 a week, my rent is 280 a month and I budget like crazy for everything else, I am an avid reader of MSE and always look for ways to budget on here.

I guess I was just hoping the necessary 6 years would pass before they found me.

How will paying these two make it less likely others will find me if you don't mind me asking?

savingholmes

Welcome to the board... I don't have any answers for you. Perhaps you could ring one of the debt charities listed in the resource bar at the top....

cady

hi i think if 2 have found you the others will the best thing to do is contact the 2 who have found you and make a small weekly payment arrangement and mayby talk to national debt line or someone like that they are really good and are there to hlep you if you can try and list who you owe what to so that when you ring them they can advise you best.... Good luck keep us posted and dont get stresses your health and family are much more important than money.

Cady x

RAS

Hi

I am going to suggest a different tack

1. Speak to one of the debt charities listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help

2. Learn about your rights as a debtor by reading the OFT Guidelines on Debt collection. Amongst the important points to note is that if you are vunerable, they should not haress you. At some point you need to tell them about the PND and refer to the relevant section the OFT Guidelines.

3. Send a CCA request to the debtors you list if the debt charity advise that you need to pay the account or if the creditor starts court action. Hold fire until then.

GeorgeUK

I agree with RAS on this one.

Unless the debts are for an overdraft i would request a copy of the credit agreement. If they can't produce a copy with the prescribed terms then it will be unenforcable - then the clock on it being statute barred will continue to count down.

miss_stress_2

Still burying my head in the sand - sorry

Have sent back a couple of letters as addressee unknown and heard nothing since. Honestly, would you just keep schtum? I estimate it's a good four years since I spoke to any of the companies I owe.

I'm just all over the place at the moment.

miss_stress_2

Is anyone there? Just don't know what to do for the best. Trying to do a uni assignment at the moment but can't get my head around things....

TotallyBroke

Use https://www.makesenseofcards.com/soacalc.html if you get your benefits weekly multiply it by 52 then divide by 12 to get a monthly amount.
Look at what you spent over last year on birthdays and christmas and again divide by 12 so you know how much you should be budgetting throughout 2009.
Search through this forum for CCA letter and have it ready to send if anyone else starts looking for you. Agree also ring one of the charities and get their help with dealing with the companies.
Good luck

looktothefuture

Miss Stress, don't be an ostrich! Come on honey, I know you can do this! You have really come to the right place to get some help! Until you take control of this, you'll always feel as you do right now! The best feeling in the world for me right now is getting home and opening my post because I know I have nothing to fear anymore!

Please take the advice that the other members have given you - they've got the knowledge because they were once where you and I are right now!