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Rock Bottom Please Help
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Hi louise and welcome,
Make sure you come back and let us know how you got on with payplan!
...Linda xxIt's easy to give in to that negative voice that chants "cant do it" BUT we lift each other up.
We dont count all the runners ahead of us & feel intimidated.
Instead we look back proudly at our journey, our personal struggle & determination & remember that there are those that never even attempt to reach the starting line.0 -
Hi & welcome.
Hope all goes well with Payplan.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
well done on tackling your debt £400 hundred a month with the current climate is good least your paying it ifthe debt plan dontwork contact your debts on see if you can sort a small amount a month some is better than nothingEmergency savings 240/2000
Holiday 40/6000 -
Hi Louise and welcome,
This site is fantastic for getting you on the road to being debt free, you'll get lots of great advice and support. It does become weirdly exciting paying your debts and seeing those figures decrease.
Good luck tonight
Tonixx0 -
hello all thanks very much for all ur kind wishes and support. Got my call from payplan last nite though i was a bit disappointed. It was only the initial call and not the full financial assessment as i expected. The next available appointment is monday afternoon so i am taking that and i suppose it isnt too long to wait. I really just want to get it over so i know my next move. I was also scared as the lady on the phone told me to open another bank account not connected with any creditors. I love my abbey account and my debit card as my insurance direct debits etc come out of there but she said i couldnt use it as one of my debts is with alliance and leicester and they might freeze any money going into it. Is this correct? I dont want to have to shut my abbey account at all because my dads insurance comes out of there every month as well and i dont want to have to explain this to him. I get my wages as cash every week so i dont actually have to put them into the abbey though i normally do every thursday. Does anyone think i would still be able to keep my abbey account open and put small amounts in there every week, or would alliance and leicester try to take it if they are accepting the debt management repayments.
Sorry for the long winded post im just getting very very disheartened before i have even began0 -
i think your money is ok as long as they have separate banking licences, they can't just help theirselves!!!
Im just commncing a DMP and its the best thing i've ever done. I changed my bank account from Lloyds to abbey because my loan was with lloyds!!proud to be facing debts of 16000k
will be debt free in 3 years 9 months:beer:
Nothing is too scary now!!!!!!
DMP support thread member no:2730 -
Hi Louise - remember, you can put yourself in control of things.
If you need to, just open a new account - you can move your direct debits to your new account if you need to. With online banking you can shuffle money around quite easily nowadays, especially if they are using 'faster payments' (they go through instantly).
Have you had a go at putting your SOA together yet?
gtdOfficial DFW Nerd Club - Member no. 208 - Proud To Have Dealt With My Debts DEBT FREE DECEMBER 2008!!!0 -
Hi Louise, make a fresh start un and open a new account altogether,you can easily move your DD across to the new account and your new bank wil sort all this out for you anyway and soyour dad need never find out about your debt unless you want to tell him, he may be really supportive if you do anyway.
I hope you get accepted for you DMP xLife is too short for regrets, wake each day with a new slate and forget those that bring you tears, they're not worth it, but relish those that bring you a smile!x
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Thanks so so much everyone for your help and replies.
I dont owe any money directly to Abbey though, but themselves and alliance and leicester are both owned by Santander. I wouldnt mind moving except i really like having my debit card facility and im in Northern Ireland and im connected in some way to every bank thats here as far as i can see.
Another question is, i owe 8k of the 26k debt to a bank loan but it is guaranteed by my mother, as in if i didnt pay it she would. Now i under no circusmtances want my mother to pay for my mistakes. Would it be classified as secured debt because of this or what? I worked out if i continued to pay it then i could still pay 240 a month of my 18k debt and when the loan finishes in few years could then pay 400 a month off it. So sorry for all the questions im just so confused.
I havnt did my soa yet i intend to do it over the weekend and post it up then i will also have it for my telephone appointment on monday0 -
Hi Lousie !
You are in the righht place. Payplan are brilliant and the next interview will be really easy and you will fell so much better after it- I can guarantee this myself as I went through (and am still dealing with) the same problem last November. Payplan have helped improve my quality of life beyond anything I thought capable. It does take a copule of months to set up- but it will be worthit. welcome and good luck ! jim0
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