Newbie with that constant sick feeling

Bunnyhop

I'm currently in about £15000 of debt on credit cards and it is the worst thing I have ever done. I started out with one and they kept increasing the limit and I just kept spending it, I took out another with 0% APR and transferred the balance to try and save money and instead ended up maxing out both cards.

I started money juggling, in all honesty I had problems long before it all came to a head but I had been managing to pay off the minimum of one by using the other, you know how it goes.

I got sick, had to stop working and I lost control. Charges racked up everywhere and before I knew it they were demanding £1000 each to bring me up to date which I didn't have and I was being constantly hounded. I got in contact with Payplan and they have been wonderful and I'm on a debt management plan. The only thing is none of the interest has been frozen so I'm not even making a dent in the money I owe, should I get back onto them? I keep thinking they will laugh at me and ask me why they think my interest should be frozen when I'm barely paying them any money (I know I'm being daft, just need someone else to tell me that)

I'm 26 and everything seems so bleak, I can't see me ever getting a mortgage or being debt free. I'm currently a student and looking for a new part time job which is bringing its own headaches.

I've been put forward for a job with a bank, it wasn't until I passed the first interview that I even thought to ask if they run credit checks and of course they do! I've told them there's no way I will pass and to just forget it but they want me to go tomorrow so they can run a check just to see. They'll just get a score on me right? Not a full breakdown of who I owe what? I just tried the zoga link mentioned on site and my score was 93 :eek: They'll laugh me out of the office but I have to go as its a recruitment agency and if I don't go then I'll not get a job through them for anywhere. I know that that one uses Equifax and this job uses Experian, will there be any difference?

They can't penalise me for jobs that don't require a credit check when it comes back bad can they?

I need to find a new job now (my old one finished before Christmas) or I'll not even be able to afford to live let alone keep up my Payplan payments.

I feel like such an idiot for ever getting into this mess, I wish I even knew where the £15,000 went, I have absolutely nothing to show for it, no wardrobe of designer clothes, no fabulous CD collection, no room full of shiny electricial goods, nothing.

carolbee

Hi, can't help with your queries regarding credit checks, but just to say hang on in there and keep looking at these forums, they are wonderful. there are a lot of people just like you - and me- out there. hope things work out for you, keep us posted

Dumbledore55

I'm not sure what the score of 93 means but if you've no CCJ's and you pay your bills on time your credit rating shouldn't be too bad. £15000 sounds a lot to you, but its manageable and shouldn't hold you back from getting a job.

Have you missed any payments or got any ccjs?

Bunnyhop

I did miss payments early last year so I know my credit rating is awful, I don't think I have any CCJ's, I've asked for a copy of my credit report to check but I've never had a letter telling me I've got one!

Dumbledore55

I would just advise you to be as honest as possible at the recruitment agency - explain that your illness caused you to get in some debt but you are now on a debt management plan - they'll have more respect for your honesty than if you cover up.

I would get in touch with Payplan again and see if they can freeze your interest otherwise you will struggle.

Don't give up on your job hunt, I interview people for jobs and as long as they are honest with me I'll employ them but if I catch them out not being entirely truthful, I'm very reluctant to employ them.

Good luck x

jenevieve

:hello: Hi Bunnyhop & welcome to MSE.
Firstly, well done for plucking up the courage to face your situation and contact Payplan.
I haven't dealt personally with either Payplan or any of the other debt managment companies but it might be worth going back to Payplan and asking their advice on the freezing interest situation. From what I have learnt on this site, even if you're paying a small amount through a dmp, a lot of companies will freeze the interest as a goodwill gesture - using a dmp shows you are serious about paying your debt back.
There are lots of very experienced people on here who will no doubt be along with many words of wisdom and it would be helpful if you could list your current debts and general income & outgoings if you are happy to.

And don't worry about being 26 and in a mess. The main thing is you are doing something about it and will hopefully get out of it sooner.

Best of luck!
You have done the right thing in coming here; you will find lots of support!

debbie43_2

Hi, keep your chin up lass, things are never as bad as they seem, though i know sometimes you cant see the light at the end of the tunnel, but there is help out there, i recommend National Debtline, they were so helpful to us when we were almost suicidal because of debt problems. Still got debt - still got problems but they are all in hand and under control as best as they can be. Hope you get the job!!!! Debbie

Keeval

Bunnyhop wrote:

I did miss payments early last year so I know my credit rating is awful, I don't think I have any CCJ's, I've asked for a copy of my credit report to check but I've never had a letter telling me I've got one!

I'm afraid that you are correct about the ZOPA check. As others have said, be as honest as you can when going for the interview. The credit check may be being used to ensure your identity, and depending on the position you are going for may or may not have an adverse effect. However be honest at all times.

Good luck.

-Keeval-