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Debt free thanks to the CCCS
happyrobin
Posts: 2 Newbie
I don't know if this is of any use to anyone, but I thought I'd share how much the Consumer Credit Counselling Service helped me out.
In 2004 I was 21, and in £20,000 worth of debt in the form of a loan, credit cards and finance. Every time I maxed my credit card NatWest extended the limit for me and then offered me loans to consolidate the debt. Eventually I found I couldn't cover the credit card minimal payments on top of everything else and so asked for another loan extension. This was refused, and I was devastated.
I had no idea what to do, but heard about the CCCS on the radio. They were fantastic. My CCCS worker was the first person I had ever told about the extent of my debt, and they were so calm and patient it had a calming effect on me too. We worked out a Debt Management Plan and as part of that I promised them (and myself) I wouldn't take out any further credit. I also had to switch banks, and went to HSBC.
I paid £300 or so each month for nearly 5 years, and when I changed jobs in the latter part of the DMP I was able to work a lot of overtime to increase my monthly payments. In December 2008 I started to get cheques back from NatWest and confirmed I'd finally paid off my debt, and I have to confess I shed a little tear when it hit me I was debt free.
My credit rating was damaged by my defaulting back in 2004, but I'm working on that bit by bit. Thankfully (and perhaps stupidly) HSBC gave me a credit card in 2006, and although I only have a £1000 limit it has given me the opportunity to start repairing my credit score by paying off the balance in full each month.
I can't recommend the CCCS highly enough. It's only really now that I've told my friends how bad it was, and some of those have gone on to contact the CCCS as a result. If you're in a similar position, give them a ring. It feels good to be tackling the problem rather than avoiding it, and provided you discipline yourself to stick with it you will eventually be able to open letters and answer the phone without holding your breath. It's not a quick fix, but it does work.
Praise be to the CCCS :A
In 2004 I was 21, and in £20,000 worth of debt in the form of a loan, credit cards and finance. Every time I maxed my credit card NatWest extended the limit for me and then offered me loans to consolidate the debt. Eventually I found I couldn't cover the credit card minimal payments on top of everything else and so asked for another loan extension. This was refused, and I was devastated.
I had no idea what to do, but heard about the CCCS on the radio. They were fantastic. My CCCS worker was the first person I had ever told about the extent of my debt, and they were so calm and patient it had a calming effect on me too. We worked out a Debt Management Plan and as part of that I promised them (and myself) I wouldn't take out any further credit. I also had to switch banks, and went to HSBC.
I paid £300 or so each month for nearly 5 years, and when I changed jobs in the latter part of the DMP I was able to work a lot of overtime to increase my monthly payments. In December 2008 I started to get cheques back from NatWest and confirmed I'd finally paid off my debt, and I have to confess I shed a little tear when it hit me I was debt free.
My credit rating was damaged by my defaulting back in 2004, but I'm working on that bit by bit. Thankfully (and perhaps stupidly) HSBC gave me a credit card in 2006, and although I only have a £1000 limit it has given me the opportunity to start repairing my credit score by paying off the balance in full each month.
I can't recommend the CCCS highly enough. It's only really now that I've told my friends how bad it was, and some of those have gone on to contact the CCCS as a result. If you're in a similar position, give them a ring. It feels good to be tackling the problem rather than avoiding it, and provided you discipline yourself to stick with it you will eventually be able to open letters and answer the phone without holding your breath. It's not a quick fix, but it does work.
Praise be to the CCCS :A
0
Comments
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I totally agree with you - the CCCS are angels indeed. I'm at the start of facing up to my debt problems but the CCCS have been brilliant so far!LBM - March 2009, DMP Start - April 2009
DMP Mutual Support Thread Member 297
(Don't forget to click on 'Thanks'! Thanks!)0
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