Rock Bottom Please Help

Louise82_2

Hi everyone this is my first post on here though i have been a lurker for long time. I am in distress and despair i dont know what to do. I have about 25k debt and trying to start to dig myself out of this hole. I dont expect any easy fixes i spent the money and i want to pay back but i need help. i cannot afford all my payments every month. i feel like going to sleep and never waking up. all i want is my life back and be able to pay my debts down while still being able to sleep at nite , i dont need or want luxuries just enough to live on.

I feel so so low i am at rock bottom , nearly feel like doing away with myself. I contacted payplan and a nice lady emailed me back and i gave her all details so she arranged for someone to call me tonight. But what happens then, what if they dont accept me for dmp plan and if they do what happens next im so so worried i am in pieces..

Please help

epsilondraconis

Worry not Louise82.

Produce your statement of affairs (income and outgoings) and post in this thread. You'll get lots of good advice as people will then be able to help you make savings.

http://www.makesenseofcards.com/soacalc.html

RAS

Hi

Firstly well done for tackling the debt. it is a huge step that a lot of people struggle with.

if you are accepted for a DMP, then you get enough money to live a decent but not extravagant life. What is left over after that is paid to Payplan and then share it out pro rata to your creditors. There will be some squealing in the early days but most have got used to the idea that they had better just get used to it.

if you are not accepted for a DMp, it means that you do not have neough income to cover your costs and your debt payments (there minimum is about £70 I think). if that happens they will provide you with letters and you can pay what you can afford to the creditors.

What you also need to think about is whether there are things you can do to find lump sums towards your debts.

have you paid PPI on any accounts over the last 6 years?
have any accounts charged you late payment or other penalty fees?

reclaim them. If you still have the account, they will just reduce your debt but ... hay that is one step in the right direction.

Do you have stuff you can put on e-bay, amazon or take to a car boot sale?

Read the up your income thread on here

GettingThingsDone

Hi Louise - welcome to DFW - you can get through this.

What really helped me was to just get everything down on paper. Initially I felt awful (the LBM feeling), but getting it out really helped get everything in perspective. It was then a case of working out how to take, initially small, steps to start chipping away at the debt.

And just making those small positive steps really helped make me feel back in control of things. Posting on here really helps, as does using the 'snowball' calculator, for example. It's a mix of finding ways of saving money and making more money that can pull you through.

I found setting some goals helped too and I managed to achieve them over a couple of years (not necessarily in the right order!) - you can get fantastic support from people here.

Try and cast out those negative thoughts - you can dig yourself out of this over time. If you're still feeling down, see your GP. Please don't be tempted to do anything based on those negative thoughts...

Keep posting!

gtd

Louise82_2

thanks very much for your help. I am expecting a call from payplan tonite does anyone know what this entails. I have given a lady all my details in an email and she said this will be the full assessment. Do they tell me tonite if i get onto a dmp or not? I should be able to pay off £400 a month off my 25k debt , it isnt a lot but it a start. If they do accept me what happens next then.

Thanks for all help in advance

RAS

loiuse, £400 is a lot more than most people are paying off debts of that size.

Just make sure that you include all you living expenses. Like if you have to have smart clothes or have medication, or pets or a relative you have to visit.

doodledo_2

Hi Louise and welcome to the forum.

Well done for calling Payplan and good luck with your assessment with them tonight. Let us know how you get on.

nova

Hi Louise and welcome to this forum, l know how you feel and you're certainly not alone, most nights l wake up and it feels like my stomach is eating itself!!!! BUT the fab people on here just give loads of advice and support and l for one could not get through this without them.AND there's always someone on here day or night. So good luck and chin up.
Lotsa love XXX

Louise82_2

thanks so much everyone im scared about my call tonight but also in a strange way excited about getting it going. Feel like may start to have a life again. I will mention everything to them about expenses etc because i will have to live like this for the next number of years and dont want to end up living on absolutely nothing, while i dont want an extravgent life i want some sort of existence though in fairness anything would be better than the existence i have now. Thanks very much everyone

nova

Your Welcome,
l know what you mean its like a relief when you face up to things and begin to get things sorted. Keep in touch with us all.
nova XXX

guinness9

Louise, I have 29k of debt an trying to dig myself out too... I have received fantastic advice on another thread today. I know exactly the feelings you are going through.

Good luck