When you're in a "Debt hole"..Stop Digging!

in Debt free diaries
268 replies 25.7K views
Chrisblue1962Chrisblue1962 Forumite
1.2K Posts
Part of the Furniture Combo Breaker
Forumite
Well, it's up to been one month since I finally faced up to reality and squared up to my financial crisis i.e approx £17,500 in debt and outgoings still exceeding income.

My partner is desperately looking for work but no joy. The debt is basically my credit cards (3), loan and an old gas bill.

The hardest step was discussing it fully with my partner and then calling CCCS, who have been great. My creditors, bar Eon, have been surprisingly accomodating and I am currently making nominal payments on the CCs (credit cards) and the loan. Eon, basically don't want to "play ball"...all for about £160.00...well they do have their shareholders and bonuses to worry about...grrrr.:mad:

Have set up new current a/c and that will soon "come to life" when I get paid next month.

One good item of news...had a clear out at the weekend and found £90.00 worth of gift vouchers in a drawer !!! - £58.00 B and Q, £30.00 HMV...and £2.00 Asda.

I know it's going to take a lot of hard work, self-control and courage to emerge from "The Hole" but it will be worth it. I also aim to pay off mortgage before I retire (in 20 years time!!) but let's slay this dragon first :D.

In my younger years I ran two marathons...if I can do that then I can do this !!!!!

Any gems of wisdom, tips and virtual hugs or virtual handshakes welcome...bye for now fellow DFWs :hello:
DFW'er - Lightbulb moment : 31st July 2009 - £18,499
28th October 2019 -
£13,505 - 27% paid off.
Demolishing my House of Debt.. one brick at a time!! :)
Thinking of spending???..YNAB says "NO!!!!"


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Replies

  • good luck with it and yeah for the vouchers
    Proud to be dealing with my debts DFW nerd 1206
    August GC £0/£250 :think:
  • Former_E.ON_Company_Representative:_MalcFormer_E.ON_Company_Representative:_Malc Has MSE’s permission to post for company Organisation Representatives - Private Messages may not be monitored
    6.6K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    My creditors, bar Eon, have been surprisingly accomodating and I am currently making nominal payments on the CCs (credit cards) and the loan. Eon, basically don't want to "play ball"...all for about £160.00...well they do have their shareholders and bonuses to worry about...grrrr.:mad:

    Hi Chrisblue

    Sorry you have not been able to come to a more agreeable arrangement with us.

    Is this an old debt or do we still supply your energy? There are options available if we still supply you.

    A payment arrangement can be set up to include your ongoing usage and the debt. This will allow us to spread the debt over a longer period.

    Alternatively, a Prepayment Meter can be fitted and the debt set on the meter. This will allow us to spread the balance over an even longer period.

    It may still be possible to set up a payment arrangement even if we no longer supply you. I would recommend talking to us and outlining your circumstances. See if a mutually acceptable arrangement can be agreed.

    So long as you are willing to make realistic payments we will be happy to set up a payment plan. If you are still unable to agree a way forward ask to speak to a manager.

    Really hope you are able to come to an agreement with us Chrisblue. As I say, keep talking to us.

    Malc
    Official Company Representative
    I am an official company representative of E.ON. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to [email protected] This does NOT imply any form of approval of my company or its products by MSE"
  • Fire_FoxFire_Fox Forumite
    26K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Forumite
    You could sell the larger denomination vouchers on eBay if you don't have anything you need.
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • Chrisblue1962Chrisblue1962 Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Thanks Fire Fox, never thouht of that but I'm planning to spruce up the garden a bit and get a film or some CDs from HMV for some entertainment. :cool:
    DFW'er - Lightbulb moment : 31st July 2009 - £18,499
    28th October 2019 -
    £13,505 - 27% paid off.
    Demolishing my House of Debt.. one brick at a time!! :)
    Thinking of spending???..YNAB says "NO!!!!"


  • Hello Chrisblue, just wanted to send you a virtual hug. I found once I've admitted we're in a mess it does become easier to keep up the mse frame of mind. You should find that bit easy if you have the stamina to run marathons! Good luck and I'm happy to nag and chat to keep you going cos I'm here for the long haul too.

    Enjoy your vouchers.
    This time I haven't smoked since 6th Jan 2014 and still going ok.
    Fingers crossed x
  • Chrisblue1962Chrisblue1962 Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Thanks PenelopeDee

    Any encouragement & support most welcome and will be reciprocated.

    Another bit of "luck" today, found Vodaphone £10.00 topup voucher with old mobile in drawer :T ...having a sort-out turns up all sort of stuff!
    DFW'er - Lightbulb moment : 31st July 2009 - £18,499
    28th October 2019 -
    £13,505 - 27% paid off.
    Demolishing my House of Debt.. one brick at a time!! :)
    Thinking of spending???..YNAB says "NO!!!!"


  • Chrisblue1962Chrisblue1962 Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Well, checked my online Egg card account today and they have slapped £16.00 late payment charge ...because I didnt pay the minimum amount...erm, I cant aford it!... plus about £80.00 interest on me despite my letter & CCCS involvement.

    I think another letter to Egg &/or call to CCCS is required :mad:

    I think Citibank (who own Egg ) may soon join Eon on my "Glorious Scumbags" List.

    BTW the title is a reference to the well known country song about a miner called "16 Tons" done by Jonny Cash and others...worth a listen...song makes me smile :D
    DFW'er - Lightbulb moment : 31st July 2009 - £18,499
    28th October 2019 -
    £13,505 - 27% paid off.
    Demolishing my House of Debt.. one brick at a time!! :)
    Thinking of spending???..YNAB says "NO!!!!"


  • Chrisblue1962Chrisblue1962 Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Hmmm... Those nice people at Egg sent me a Default Notice today...despite the fact that I have already advised them that I can't make the minimum payments. Well, they can't have what I haven't got :o.

    Also, got another annoying call from M & S Money, advising me that I had a Payment Agreement then that I didn't have one and but now I had one again!...where do they get these people?

    To make things worse, I spent two hours trying to fix a pucture on my bike...which then went down again. Oh well, feeling slighthly deflated but not completely flat !:rotfl:Keep battling on fellow DFW'ers...
    DFW'er - Lightbulb moment : 31st July 2009 - £18,499
    28th October 2019 -
    £13,505 - 27% paid off.
    Demolishing my House of Debt.. one brick at a time!! :)
    Thinking of spending???..YNAB says "NO!!!!"


  • Chrisblue1962Chrisblue1962 Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Got in from work to find M & S statement plus a Default Notice. CCCS have said that I should not get too upset about them but just keep paying my £1.00/month. Just hate having to hang on until payday - this Friday. Have barely got enough cash to get to work. Hope next month is easier...:cry:. This DFW is really starting to bite...
    DFW'er - Lightbulb moment : 31st July 2009 - £18,499
    28th October 2019 -
    £13,505 - 27% paid off.
    Demolishing my House of Debt.. one brick at a time!! :)
    Thinking of spending???..YNAB says "NO!!!!"


  • Chrisblue1962Chrisblue1962 Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Well, I took another small step towards being a DFW today...a small act of "revenge" against the High Street banks..yes, that' them, the ones who pleaded absolute penury and asked HM Govt to bail them out ...and then paid themselves HUGE bonues with OUR money!

    What did I do? I joined a Credit Union. This way, I can save small amounts and at least the benefits will go to help REAL PEOPLE get their lives under control. :D.

    Remember, you can also vote with your wallet/purse and not just every 5 years!

    End of rant...have a nice weekend fellow DFW'ers :j
    DFW'er - Lightbulb moment : 31st July 2009 - £18,499
    28th October 2019 -
    £13,505 - 27% paid off.
    Demolishing my House of Debt.. one brick at a time!! :)
    Thinking of spending???..YNAB says "NO!!!!"


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