Frightened to take the step

Katy_M_2

hettiecarro wrote: »

Hi all.



I'm about to write the letter to the creditors, based on the Debt Remedy I got from CCCS, but I'm too frightened to send them and set the ball rolling.

.

I know it's frightening to take this step and I know you know this already but hiding under the duvet is not the answer

I know someone that suffers from stress/depression/anxiety and he worries about things that may seem trivial to everybody else. He often buries his head in the sand and doesn't deal with things which leads to more stress and anxiety as nothing is getting sorted. It's a horrible viscous circle to be in.

I am constantly trying to help push him forwards to deal with things. The advice that I give him is stop looking at all the problems as one big picture. You need to deal with it in small chunks and eventually all the pieces of the jigsaw will come together bit by bit.

I am obsessed with writing lists to organise my life (apparently as Im a Capricorn woman!)

My advice is to write down a short list of thhe things which you need to do to get things sorted (as things stand at the mo).

Deal with the things one at a time without worrying about the next step until you are there. Each time you tick an item off the list you will feel so much better and as you go on and on you will find it easier to take the next step.

First things first....get those letters sent out. Get the ball rolling.
Keep us updated and let us know how you get on xxx

hettiecarro

Thany you SOooooo much. I will get them sent this afternoon - will confirm tomorrow that I've done it.

People on here are so kind and understanding.

You seem to be a very 'together' person. Hope your own problems get resolved soon.

Katy_M_2

Thanks Hettie

I have subscribed to this thread so I can check up on you.....you have been warned! xx

Katy_M_2

hettiecarro wrote: »

Hi Tixy

I have some antique furniture and procelain etc of my Mums which should realise about £4k

Just incase you are struggling with what to put on your list of things to do....

This should defo be somewhere up near the top.

I don't claim to know much about antiques but maybe you could take it to an auction? Might do better there than on ebay/car boots.

If you are not bothered about letting the items go....get them sold asap! Just think of it as being that you are sat on 4k which you could be using to pay off those debts

SELL SELL SELL!!

dancingfairy

Hi. Glad to see you have posted your SOA. As far as I can see you have a couple of options:
1) pay token payments to the creditors with the hope that you will at some point be able to go back to work and get more money to offer them or offer a full and final settlement.
2) perhaps an IVA or bankruptcy would suit you? Depending on your health situation which looks like you may not be working for a while - would going bankrupt be an option for you? perhaps it is work asking on the bankruptcy thread for some ideas on this?
60K is quite a lot of debt and will take a while to pay off even if you were working - it will hang around for quite a while so perhaps bankrutpcy would give you a clean slate?
What did CCCS suggest - just making token payments and then what?
Good Luck
df

dancingfairy

Have re-read the thread and it seems to be that you could get 8k for one of the cars, 4k for the antiques and you have 7k or some of that which would be approx 19k to offer full and final settlements.
I don't know much about full and final settlements but have a read of some of the other threads and see how to approach it- I do know that you have to make sure it is for full and final settlement and that they then can't decide to chase you in the future or sell the debt on.
It might take a while to get the full and final settlements accepted as if you have been paying until recently they may figure that you are going to be able to repay in future so you may be stuck making token payments for a while until they get the message that you can't pay them and that you are only able to make full and final payments.
Oh and if they give you any hassle come back here as some agencies are known for lying and or miselading and there are many things they are not allowed to do so don't take any nonsense from them - don't agree to anything and check on here if you get any hassle.
Best of Luck
df

Tixy

Hi Hettie

Good to see your SOA, I think due to the big shortfall the first step has to be to send the letters and start making token payments, whilst you can cut back on some areas it will not be sufficent to make up the shortfall you are showing.

However then you need to look at what you can cut down on from your SOA. Your elec seems very high and your gas is not great either. I guess your Mums house is perhaps quite old and so will cost more than some modern houses but still worth looking to see if you can make savings. Are these based on actual amounts or estimated readings? Are there arrears? Can you cut back on usage at all or if not look to see if you are with the cheapest provider for your usage levels. The internet billing tariffs are usually the cheapest and best to get from the same provider for the dual fuel discount.

Is the water metered or unmeasured? If unmeasured consider getting a meter fitted, for only 2 of you I would expect you to make a saving, particularly if its a largish house.

Are you on the best media package (packages are usually cheapest). TV, landline & broadband are £80, you might get an all in package for £50. Or speak to SKY and say you are thinking of leaving, they should give you half price for 6months or some similar deal.

Groceries, could be reduced a little maybe to £150, the home cooking you are plannig will def help here.

Not sure you can cut back much in other areas so like others consider realising some cash from at least some of the furniture.

I'd echo what df says, what did CCCS say to do longer term?

Good luck Hettie.

hettiecarro

.
Thanks all.

I have arranged to take the 'valuables' to a local auction room next Tuesday. Have you ever felt totally disloyal? My Mum had these things for years.
However - having been given a strict warning by Katy M - my mind is in gear to sort this.

I don't care WHAT I have to sell to get this paid off.

Perhaps now you've been kind enough to read my epistle, you can tell me what you think of my overall plan. This is a plan based on the fact that I cannot return to work (although God forbid that be the case in the long run).

1. Send my letters this afternoon - offering nothing as advised by CCCS.
2. Back this up with doctor certificate to say I am not able to work at presetn.
3. Put the most expensive car up for sale.
4. Get valuation on antiques etc
5. Sell all unnecessary clothes/dvd's/cd's. ( ebay or such)
6. Aim to raise extra £5k by Christmas by whatever means - then make an offer.

SUMMARY

I should be able to offer in excess of 15k by Christmas. This represents 25% of the debt, and other threads have advised I should go in lower to start with.

My problem at the moment is getting the energy and staying on top of it.

I am SO lucky I have a supportive partner - and my Daughter in Law is one in a million - so help is at hand - and of course you guys. But I find this all so distressing and humiliating.

If I thought I could raise the money by selling EVERYTHING but retaining my home I would seriously do it. I have NO WISH to default on these debts.

Please bear with me - I need your help!

:embarasse

hettiecarro

One piece of good news. My Bank account has been opened - so at least I've somewhere to put any money I make.:j

dancingfairy

Are you getting all the benefits you are entitled to as one of the other posters suggested? the only thing that concerns me slightly is if you do come into large sums of cash this may affect your benefits so I would get advice on this first.
Also are you able to claim back any bank charges - you appear to fit into the hardship criteria which means for you that the fact general reclaiming is on hold does not apply to you and you should apply and state you are in hardship.
What advice have you had regarding transferring of ownership of your home or not?
df