We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
In debt and it scares me...

madmalteaser
Posts: 301 Forumite
Hi all,
Moved back to the UK six years ago when I was 19 and very very naive about money and the debts have slowly spiralled out of control since then. I'm currently almost £30,000 in debt and it feels like the biggest weight over my head. I rang up the National Debtline in a fit of frustration last week and still waiting for the pack they said they would send me. I'm hoping you can tell me what to do...
Let's see - my monthly take home pay is £1,200. I currently have a £12,000 loan with my bank and an overdraft of £850 which I max out every month. I have another smaller loan of £3000 (don't even know why I took that out). I have 4 credit cards (makes me shudder to think of them), all maxed out and baying for blood it seems. Plus I have a car on hire purchase (nearly £10,000) with another 2 years and 4 months before I can get out of it.
I've been reading through this site for the last couple of hours and came across the CCCS website through it. According to their debtcheck they've told me I need to ring them, but I'm wary. Has anyone used this service? Good, bad points? I've told no one about how much debt I'm in and it's getting to the point where I can barely afford to buy food anymore. Help!
Moved back to the UK six years ago when I was 19 and very very naive about money and the debts have slowly spiralled out of control since then. I'm currently almost £30,000 in debt and it feels like the biggest weight over my head. I rang up the National Debtline in a fit of frustration last week and still waiting for the pack they said they would send me. I'm hoping you can tell me what to do...
Let's see - my monthly take home pay is £1,200. I currently have a £12,000 loan with my bank and an overdraft of £850 which I max out every month. I have another smaller loan of £3000 (don't even know why I took that out). I have 4 credit cards (makes me shudder to think of them), all maxed out and baying for blood it seems. Plus I have a car on hire purchase (nearly £10,000) with another 2 years and 4 months before I can get out of it.
I've been reading through this site for the last couple of hours and came across the CCCS website through it. According to their debtcheck they've told me I need to ring them, but I'm wary. Has anyone used this service? Good, bad points? I've told no one about how much debt I'm in and it's getting to the point where I can barely afford to buy food anymore. Help!
PROUD TO HAVE DEALT WITH MY DEBTS
0
Comments
-
Hi
First up - don;t be scared. We'll help you. You haev taken the big step of asking for help and it will get easier from here on in.
You need to post all your incomings and outgoings so we can see why you max everythign out and where we can save you money.
We need all your debts and APRs and minimum payments too.
I believe CCCS are good, but can't advise on that. Someone will be along shortly but it has been quiet on here this week.
Post as much info as you have ot hand and we'll get started for you, then post more when you can get it.
*hugs*:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
0 -
Visit https://www.cccs.co.uk
They are superb and only ask one thing:
You need to be entirely honest about all your finances, every last store card, credit card, catalogue & loan debt so that they can get it right for YOU!
You've made a big step and I know it is a difficult time, I and many others on here have been in similar positions. Try not to worry too much as you are taking steps to resolve the situation and in a few months time you'll look back at this and thank yourself for doing it.
Whenever you find it a struggle or just having a down day - come onto the forums and discuss your woes, everyone on here will help and try their hardest to cheer you up!Treat others as you would like to be treated :A0 -
Hi madmalteser
I know the saying, 'try not to worry' is easy to say but eventually after the last 12mths of worrying myself sick because of the £62k debt i am in with more outgoings then incomings i am finally realising like many others on here, you really do not have to have sleepless nights.
Firstly you cant go to jail for your debt and unless you have any major assets you have nothing that can be taken. Like you i too worried myself sick but over the last 12mths i have become hardened to the continual phone calls, and threatening letters saying creditors will take you to court, but in all honesty so long as you make a minimum payment of at least £1 like i have been doing, al that happens is your debt may be passed onto a third party.
And this third party has no more power than the original creditor, i have read else where on this site that someone has been making these minimum payments for 3yrs and is still waiting for a creditor to take any sort of court action. So please try to stop worrying, nothing drastic will happen iminentlly.
It is wise though to get intouch with either cccs or payplan as many others on here reccommend, because they can help you with the best way to begin making repayments suited to your circumstances in order to get rid of your debt over time.
My mistake, has been that prior to finding this site about 2wks ago, like you i was lost in worry. I had in the middle of the year gone with a debt management company advertised in the national papers because of my desperation at the time. But since coming on here i have learnt the errors of my way and realise that the percentage fees i were paying to them could be better spent reducing my debt by dealing directly with my creditors or going through one of the non fee charging organisations.
So i have made it my hew years resolution to bin off the fee charging company (just done it) and my next repayments for jan and feb will be £3 instead of £1 to each creditor i have 8 in total( this increase is a result of not having to pay £16 fee charges to debt company.
This will allow me time to speak with Payplan after the festive break and look at what options are availableto me. Please take time to read my thread 'cant believe conversation i just had with creditor' you will find some very interesting and encouraging views being posted in reply.
Hang in there and good luck0 -
Can say CCCS have turned it all around for me!
They will get things rolling in your favour from the start!
I 'will' become debt free because of them!
K.If you want to see a rainbow, you have to get used to the rain.0 -
cccs have been a lifesaver for me i reckon i worrying myself into an early grave and i really feel like i have had a huge weight lifted since handing my finances over to them, now instead of 6 debts coming out every month i have one much smaller one all interest frozen no more phone calls or letters. at one stage i was scared to answer the phone at all as barclays etc seemed to ring me non stop all day night weekend. i would definetly say they have been great for me0
-
Hang on in there mate! It's possible to get out of debt- until about 6 months ago, I was in complete denial. But now, I have made positive to make me closer to being debt free. You need to be really focused and dtermined to do it and it IS possible.
I found this site to be a life saver.Debt /Overdraft/Everything Free December 2007 :j0 -
Thanks guys. Have made the decision to ring CCCS on Tuesday and get this sorted once and for all. I've got myself into a position this month where I'm behind with the rent and literally have no money for food until pay day at the end of the month, so I can't keep going on like this! It's time to get the the finances sorted out.PROUD TO HAVE DEALT WITH MY DEBTS0
-
Hey Madmalteaser
It is great that you want to sort your debt out and you will find lots of help on here.
Like Skintchick said, would be helpful if you post your outgoings and all your cards/loans and the rates so we can help with budgeting/cutting back costs.
Hope all goes well with CCCS on Tuesday.
When is payday? End of Jan? Have you paid this months bills?
It will get better and it is great that you want to sort it out.
All the very best to you xxLoan & Credit Card Debt at Highest: 13,450.04
Loan & Credit Card Debt Deb 05: 12,420.40
Loan & CC Debt Free Date: OCTOBER 2007
Student Loan: 10,000.00
Make 2006 a year for clearing debt xx0 -
Have paid this month's bills yeah, and it's taken me 6 quid over my overdraft limit so I'll be paying for that one yet again. Have no idea how I'm going to survive the rest of the month other than selling some stuff on ebay, but I'll keep going and see where I end up! Will post my outgoings and such as soon as I have the energy to sit down and gather together all the bits of paper. Thanks everyone for the encouragement. It means a lot.PROUD TO HAVE DEALT WITH MY DEBTS0
-
How big is your overdraft and what do you get charged?
Yes get selling on e-bay for now, great way for extra quick cash.
Can you do any O/T or extra work somewhere?
Don't worry we will help you get through the month, whatever you do, please don't add to your credit to help you get by this month if possible.
Yeah bit much asking you to go through all your finances on New Years day, let us know when you have more energy!!Loan & Credit Card Debt at Highest: 13,450.04
Loan & Credit Card Debt Deb 05: 12,420.40
Loan & CC Debt Free Date: OCTOBER 2007
Student Loan: 10,000.00
Make 2006 a year for clearing debt xx0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards