Bad Debt - Really Scared

scoutkvm

Hi sarriep

These are all of my debts, old debts now total around £9000 (originally around £20000) and new debts totalling approx £7500 (extra credit cards). Both my current debt management company and CCCS calculator are saying to repay the combined debt at around £600 a month. The debt management company said it would take 2 and a half years to clear the debt and I assume from the CCCS calculation that this an approx time frame as well. I'm probably right in thinking that neither want me to pay this off over a longer period but I am determined to pay back all that is due. I could and should have paid the original debt off by now and should not have had the additional credit and there would not be a problem now. I know that this looks bad and if I wasn't in such a sleepless, worried state of mind I would agree that this looks like a windup as probably no one else would have got themselves into such a mess. I don't know how this is going to play out with CCCS tomorrow and I hope that this can be resolved and without any further worries. I've been lucky that I have a supportive family who have tried to ease my worries but the worry still there

scoutkvm

Just a side note, I don't know what the debt management have worked out to pay everyone but assume the original creditors will get an increase. They said on Friday that nothing was going to be sorted until Monday but I couldn't work out why if that was the case, the debt management company were requesting the increase in payments unless they were assuming there would be a successful agreement and the creditor would not pursue Statuatory Demand. Things didn't seem right to me but my logic has gone out of the window in the last couple of days due to lack of sleep

moanymoany

peka2k wrote: »

If I didnt know better, Id say this sounded like a wind up.

It seems you have everything that a person with high debt SHOULDNT have.

I though this - however I was wary of posting that as the last time I did I got 10 snarling DFW's on my back telling me off! :rolleyes:

sarriep

Ok, then that must be what CCCS have decided your amount available for debt repayments is then? At least you'll clear it sooner than my 9+years!

poorandindenial

You might find that it goes down faster with CCCS as they aren't taking a fee. It all depends on if interest etc can be frozen.

Try not to worry too much, it might be a bit crazy for a few months but from what most posters say it will calm down then and you can get on with it. Have you checked out the DMP mutual support thread?? If is full of people that are htinking about a DMP, on a DMP or have been there and done a DMP. There will be a few knocking around that have changed DMP providers too and they may be able to reassure you.

All the best.