Don't know where to turn

sunshine38_2

meganr wrote: »

Can I really just send a pound to my creditors? What is the worse thing that can happen if I cancel my direct debits?

Sorry Megan, I was all bleary eyed and forgot to answer these questions.

Yes, you can just send a token payment of £1 to each of your creditors as a gesture of goodwill whilst you are sorting yourself out. There is a letter somewhere which I will try to find for you.

I have a debt management plan with CCCS. Initially I entered information (annonymously) via their Debt Remedy link, such as your income/outgoings and it gives a recommendation depending on what "available" income you have left, having budgeted for your essential/living expenses. You might find it useful just to enter your figures and have a look at what it comes out with. Before the plan was set up, we made token payments of £1 to each creditor with a letter explaining that we were setting up a plan with CCCS and contact will be made again with them shortly with offers of payments etc. That's just an option to look at.

When you have managed to prepare your statement of affairs the great people on here may be able to help you find other options to think about. By sending token payments in the meantime though, it would show your creditor(s) that you are not ignoring any requests for payments. You just need some breathing space to be able to have time to think about your options.

As for your DDs, the worst that can happen is ... nothing - the accounts dont get paid. A lot depends on what your current financial circumstances are. If it turns out that you can manage x 2 payments for next month, then that's what you will make. If you can only manage "token payments" for the next month or two, then that's what you will do. Is any of this making sense?

The best that can happen is that you will avoid any possible bank charges if there are not enough funds in to cover the expected DD payments. If any of your creditors are linked to your current bank account then you are better off opening an entirely separate account with another banking provider - just so that you can make sure your money is safe and that a creditor linked with your current account cannot automatically deduct any sums due from your current account.

If you can manage looking, prior to opening any new account, you could possibly earn "cashback" through a site called "Quidco.com" when you open a new account ... you would need to have a peek at the Quidco site to check out what banking providers are offering at the moment. Any extra pennies would be much better in your pocket.

There are lots of things to learn from this site but I do understand that sometimes it still all feels "a bit too much" to take in. So, please, please, dont feel under any more pressure - that's not the intention - the intention is to help you find ways around/to deal with each step.

I really hope I'm not making you feel any worse ... I just want to try and help.

Take your time, sending token payments to creditors can "buy" you a little more time to have a look at your options.

Right, so sorry for waffling ... I will try and do something constructive now and find you a letter.

I'll be back

Sunshine x

sunshine38_2

http://www.nationaldebtline.co.uk/england_wales/temp/7228_88281.pdf

oooh, Megan, I'm not even sure whether this will work, but I've found something you can work from which you will, hopefully, be able to see if you click on the link.

You can obviously change the "We" to "I" if needs be and then just add in an extra line to say "As a gesture of goodwill I enclose a token payment of £1.00." Or something to that effect.

Anyway, have a look and see what you think - assuming, of course, that the link will open ... I've never tried to attach one before and will probably get told off

Sunshine x

P.S. You can have more dodgy hugs :grouphug: x

chevalier

Hi megan
hope you are ok and that you have been able to get to the doctors today. I also hope you can find the strength to tell you OH exactly how you are feeling, as I am SURE no matter how hard he has been, he would rather have you in his life than have you in a grave due to money.

sorry if this is blunt, but he needs to know how much his lack of support (ie emotional support doesn't have to be financial), is hurting you

chev

Numpty_Monkey

Hi Megan

You have done great so far:T

The info you have been given is spot on, but as sunshine says there is a lot to take in,
Don't worry or panic about it, take your time and ask as many questions as you want or need to
we are here to help and give advice and support, most of it from our own personal expierences

And as Martin says he has never come across a debt that can't be dealt with

I'll post some links to some things in while
and hopefully we can all help get you started

Take care hun:grouphug:

ShelleyC_2

Hello Megan :wave:

Welcome to the wonderful world that is MSE and the amazing people of the DFW board. You've had some amazing advice and everyone will help you beat this. Just to say its really really important you see your GP, don't be afraid you're the only one thats in your situation. They will be able to help you with the physical and psychological impact this is having whilst you tackle the more practical things. I suggest you try and encourage OH to go with you maybe hearing you tell someone how this has made you feel will give him a kick up the bum.

PS take a gas mask as the surgeries are full of coughs and colds at the moment :grouphug:

Numpty_Monkey

Unfortunatley sunshines link doesnt work
Heres a copy of a letter offering token payments
Edit thebits in red to your needs

Your Name
Your Address


Date

Creditor Name
Creditor Address


Dear Sir


Account/Reference Number


I/We are writing to inform you that I/we are seeking advice and assistance regarding my/our current financial difficulties.

I/We enclose a Personal Budget sheet which shows total income from all sources, and the total outgoings of the household. As you can see I/we have no money left to make offers of payment to creditors.

In view of my/our circumstances, would you please accept no payment / token payment of £ at present to be reviewed in three months. If interest or other charges are being added to the account, we would be grateful if you would freeze these so our debt does not increase.

Should my circumstances improve we will contact you immediately.

I/We look forward to hearing from you as soon as possible.


Yours faithfully
Name(type don't sign)

PinkTwirl

Hi Megan,

I hope you are ok. Firstly, I just wanted to say never think about doing away with yourself over money. I bet you are thinking "yeah, but it's £76K!". No! No amount of money is worth more than your life. Money will come and go, but you are irreplaceable. I grew up watching my dad cry and have a triple heart bypass due to heavy manual work and not being able to pay the bills. He tells me now not to worry as it's not worth it. I know that sounds silly but it isn't. You are far more important. Forget that husband of yours - he's just as responsible for it as you, did he ever ask you why you ran up so much debt? There is always a reason and the debt is secondary, whether it be just not enough pay to buy the food or buying things because of unhappiness. It takes two.

Firstly, you need to eat. I know that will sound like the last thing you need, but please even buy one apple in the supermarket when you are in or a cheap packet of tomatoes or something. I guarantee that in 5 years time no matter what happens things will have panned out.

:grouphug:

Numpty_Monkey

Something you might have noticedin the letter is

" I/We enclose a Personal Budget sheet which shows total income from all sources,"
thats another name for a SOA

Use this link
http://www.makesenseofcards.com/soacalc.html
you will needto send a copy with your letter to your creditors
and post it on here if you want to

Also what has been mentioned is CCCS debt remedy
A link to that
https://www.cccs.co.uk/debtremedy/(S(udwrck45uwx2eeznvpzmypj5))/start.aspx?hp=8

Also what about calling one of the recommended debt charities
Non-profit Debt Counsellors' List

Also mentioned is getting a new bank account that is not linked to any of your creditors
It is important that you do this. I'll try to find a link to to it

ps have a daft smilie for free



there was a list

DreamerHelen

I don't have much helpful advice at all I'm afraid...but I wanted to congratulate you for being really really brave and coming on here - That's the first most important step!!! So well done!!!

Secondly, please please talk to someone about feeling so down, I get like that sometimes when things overwhelm me and I have to talk to someone too....the Samaritans are fantastic and they will listen without any judgements, so try to give them a call if you can hun.

Don't be overwhelmed by all the advice on here, just take it one step at a time - Try to take in some deep breaths, open the letters and then just take ONE STEP AT A TIME!!

And please please come back on here when you're ready to let us know how you're getting on and if you need anymore advice....we're here for you hun!!

lou77_2

Hi Megan,

I just wanted to let you know I'm thinking of you. Please listen to the advice on here, there really is no debt problem that can't be sorted. You have paid £10k off your loan so you are already doing it bl**dy well!

Enjoy your break from calls etc over Christmas and you'll be ready to deal with it in the New Year. :grouphug: