Time for change - help needed by numpty!!!

HarryStottle

Hi all,

I need help and quite desperatly.

3 years ago I went on a self destructive phase that started through severe depression.
Through this time I drank myself stupid, ruined my relationship, quit my job etc etc.
My credit rating until this point was very good, I had 2 credit cards and a £1000 overdraft facility, a motor bike (it was stolen) on HP and some savings.

3 years later I am trying to get back on my feet, I am back in a job earning £26,500 per annum and have been for 2 years.

I now do not have a bank account other than a savings account that my wages are paid into hence no facility for DD's etc, I do not have any savings either due to failed relationships and being stupid with my money!!

I owe around £14,000 to Halifax, Lloyds, Barclay Card and possibly one or two others.

I thought that I would say "f**k it" to the debt but have realised that it is the biggest single factor holding me back and adding to my depression, I have a pile of around 40 letters that I am too afraid to open.

I now think that I need to pay the money back as I have some social responsibility - that and the fact I need to stop the worry.
I really want to do this but need direction - all of these sorts of issues leave me feeling really worried, I know it is stupid but I am afraid to start the process and to be honest am unsure how - even writing this is making me feel nervous, as most of you will know it affects many aspects of everyday life.

I would like to go to university to study social work next year but I don't know if this will stop me?

Please guys - where do I start?
I know that I have brought this on myself and I am not looking for sympathy - equally I'm not looking for abuse!!

I realise that the path ahead is long but I feel that I need to correct the mistakes that I have made.

Please feel free to ask questions etc (those that are applicable will be answered!!)

Many thanks in advance,

S.

ajaney

Hello & welcome

I would advise the very first place would be to start with an SOA (Statement of affairs) - see my signiture.

The second step would probably be a chat with the charity CCCS - they are free.

The SOA will allow you to see what is available for debt repayment & will be helpful in any discussions with CCCS.

Stick around for more words of wisdom from more knowledgable members.

Horace

Hi and welcome

Please can you post your Statement of Affairs so that we can see what's coming in, what's going out and what you owe? https://www.makesenseofcards.com/soacalc.html (there is a button on it apparently so that you can format it and post here on MSE).

We've all got debt of one kind or another so you are amongst friends here. If you have a huge amount of debt - then contact one of the debt charities (you will need to do an SOA for them anyway) as they will be able to help you contact those to whom you owe money and arrange for an easier way to pay them back. I am sure someone more experienced than I in these matters will be along soon.

dancingfairy

o.k an easyish thing to do to start with would be to open a basic account at a bank. This will not involve being credit checked - you need one with no overdraft facility - just a basic one. There is a list somewhere of good ones to go for. This will give you some of the functionality of a normal current account.
The only real thing to remember is to get one which is not linked to anyone you owe money to so if you owe Barclays it's best to avoid anything that might be linked - if you don't know post on here and someone will help with that I'm sure.
The other thing is to begin to tackle those unopened letters - is there anyone you can trust to sit with you whilst you open them? Once you have a total that will be the worst part over with and you can then organise a plan of attack - being in the dark is always the worst - you know how things are always big and scary when you half look at them and the shadows seem so big but when you get up close you see it's not quite so scary after all?
Maybe open the envelopes and just put them in piles - eg Barclays,Lloyds etc and then give yourself a small reward - bar of chocolate, pizza etc ,listen to a favourite album? You can fill the numbers in gradually.
df

savingholmes

Hello and welcome. I agree you need to post your soa and then you and we can understand the size of the problem and offer advice and support. I have saved thousands of pounds thro mse and now since July - I am paying off debt rather than adding to it having followed additional suggestions from the forum after posting my soa....

All the best!

HarryStottle

Wow,

thanks for the quick responses, I'll go through the SOA now - I think I'll even open the damned letters - it's just paper right...............?

hippychick1

I was turned down for a few basic accounts, due to my bad credit rating. I have now opened a Cashminder account, with the Co-op bank, you can even open one of these if you have been made bankrupt. It has the facility for DD, and you will get a Visa Electron card.
Hope this helps

insider66

If you need help with bank accounts I can help

insider66

Got a couple of things to do - just got in, but you can count on me and lots of others here when you open those letters....

Back very soon

hippychick1

Also, if you want to study, I think your credit rating will not affect access to a student loan. I think this is the case anyway.
Good luck with getting things sorted
x

insider66

Right, got the new Dido cd on, opened a beer, and ready to help if I can.

How's that SOA going HarryStottle?