scared now!!!

bcljnk

Well i havnt even quite missed a payment yet, but have cancelled the direct debits, already had a letter from eon saying i owe sixty odd quid to bring me upto date with my payments....i am in debt with them by about £300, so dont know how i only owe sixty odd quid.
Then this morning i received 2 letters one for each of my loans with tsb to say the DD has been cancelled and they wont be able to collect my payment, and its unlikley they will be able to get my payment for its due date and to send them a cheque straightaway.
If they do not receive the payment within 7 days of the due date, which is 3/7 they will try to collect it from any current or savings account i have held with the tsb..including joint accounts (i removed my name from joint account, so this should be ok)
If they dont receive it promply they will pass it on to their central collections department.
I have also put aside a couple of credit card statements, which are probably due to be paid any day now, including a TSB one.
Things havnt even got started and i am bricking it, i wont have the money for BR for ages yet and also havnt taken proper advice due to not getting through to CAB, i would prefer to see them as they may help with the form.
HELP how bad will it get!!!
Ralistically how long can i hold off to enable me to gett he fee together??

yellowmonkey

Hi

I know the feeling when I stopped all my DD's and SO's in preperation for BR. That was 3 months before I went to court and the worst it got was phone calls and a default notice. I can say that now as it is in the past but I , like you, was terrified of people knocking on my door and taking me to court. Neither of those things happenend

It does seem daunting but hang in there. It is not as bad as you think it will be

By the way I got that advice and thought, Yeah right what do they know.

But they were right

Good luck

ym

mike1966_2

Yes it's not that bad really, i had bailiffs at my door twice, but it took about 6-7 months for that to happen, and i've been holding the tsb off for about ten years now.

you just got to dig in.

mike

tic_toc

Dont panic. It all seems worse than it actually is. It will take a few months for you to start getting default notices and you will find that they will just send you those every month for a couple of months before they do anything. The only thing you need to act on is any court papers you get regarding a claim.
All I will say is be honest with your creditors, when they ring you, tell them that you cant afford to pay. Dont be bullied into making a payment or agreeing a payment plan you cant keep to. However, it is not such a good idea to tell them that you are thinking of going BR. Keep that one as a surprise for them.
Keep all your letters/paperwork together as they will come in handy when it comes to filling out your forms.
If you cant get in touch with CAB, try national debt line. They were a great help to me and although they wont help you complete the forms they will be able to answer some of your questions and ease your mind a little.

It is a daunting thing, but it will be worth it in the end, and the whole experience is nowhere near as bad as I thought it would be. Im not even a month into my BR yet but am a different person already.

Keep your eye on this forum as it will be a great help and support to you when your time comes. I have learnt so much from this forum and wouldnt have had the courage to go for it without it.

Good Luck.

Holes_in_my_pocket

Open a Co op cashminder account and have monies paid into it ASAP

bcljnk

Holes_in_my_pocket wrote: »

Open a Co op cashminder account and have monies paid into it ASAP

Thanks for the replies everyone...i have already transferred the child tax credits to go into DH's account, and just awaiting the child benefit to get sorted, when it gets to a week before its due to go in i will ring them and see if its sorted, if not i will put it on hold.
Thanks again

philnicandamy

best I can say?.......try not to worry too much by the time all your creditors get into gear you'll already have gone bankrupt...

E.ON_Company_Representative:_Helena

Hi bcljnk,

Just to try and answer your point, it sounds like the £60 is just to catch up with the payment arrangement that you had in place, even though the account is in more debit than this.

If you are unsure you could provide your up to date reads and have a statement produced, you will then know the exact amount owed at that date. This may help you a bit if you need the figures for your paper work to show the amount of debt that you have.

Hope this helps you a bit and everything works out for you.

Helena

Dodger61

Hi Bcljnk,
It will get worse, and its pointless saying otherwise. Its how you deal with it that matters. Try and go BR ( if you have taken advice ) asap, to avoid any stress. If thats not possible, try not to worry, as tic toc says it will take months before any court action is taken, and even then most lenders will threaten but rarely go through with it, simply because if you have no money and offer a £1 a week, then thats what they will be stuck with. So try and delay the creditors, if only for your piece of mind. The best piece of advice I would give is do not answer the phone, if you must, do not go through security with them and ask for everything to be put in writing. The letters are standard computer letters designed to scare you.ie. court action etc. Most of us could paper a wall with them. One final thing is going BR is not a criminal offence, you will NOT go to prison. So stand tall, be strong. Look to the light!
Good luck.

Cash_Waster

After the initial few months leading up to BR, which make no mistake are bloody hard, people ringing at 8am through to 10pm, once I counted 64 calls one day and they where all from creditors. That bit is seriously depressing and horrible. So is the build up to court. Once you get there, you might even enjoy it! I did, when I left the court I was overjoyed if not ashamed of myself. That lasted for approx 30 mins until we got home and opened a bottle to celebrate. You can then start answering the phone. I loved it, my wife wouldn't for about 10 day.

"Hello Mr ******, Its barclaycard blah blah, you must now make a payment of £500 immediatly now, can I take your debit card number immidietly......

"No"

"And why not? you owe us £500 and we are ringing to collect now, payment is due now!"

"Not today thanks, I'm now bankrupt, if you want it, guess what? You cant have it"

"But, but, but................... I am here to collect payment"

"No probs, ring my OR at ******************, see ya thanks anyway. PS please stop ringing"

It all works itself out in the end, and 4 months on I am the happiest I have ever been in 15 years since I was 18 and a student with no debt.

Chin up, it does get better, I promise.

veggyboy

I don't normally post here, but I have a friend who works for the official receivor and he is not an ogre, They speak to people every day who are going through this. Have you thought of giving them a ring direct and seeing if you can pop in for an informal chat. It might help calm your mind a bit.