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

Chrisblue1962

Well, received notice of hearing for Charging Order, which is due 29th March 2012.

The fact that "Nationsnide" went down the CCJ and Charging Order route despite the fact that I have a DMP with CCCS, which I have previously paid and continue to pay, leaves a very bitter taste in my mouth....all for £2300.00 or thereabouts.

None of my other creditors, some whom are owed twice the amount owed to "Nationsnide" have deemed it necessary to resort to such action.

Nationwide - you are lower than a snake's belly :mad:

Chrisblue1962

Did CCCS review today. The lady I spoke to was really nice and after doing some sums, the amount I will now pay is £92.00 per month up from £61.00 per month, which ain't bad as I have now repaid gas & electricity arrears :T

This will now reduce DMP term from about 25 years to about 15 years... still a long time but it's going in the right direction. .

This might sound daft but I'm looking forward to paying a little bit more and clearing the debt quicker. It's a pity "Nationsnide" had to issue CCJ and Charging Order after spitting their dummy out over time taken to pay of their debt of £3,000.00...

Chrisblue1962

Paid £3.50 spare cash into my Credit Union savings account today.

Some folks may say that I should pay this off my debt but I believe that you should also make a small attempt to save for a possible emergency or even a small treat as this reinforces one's budgeting skills and teaches you not to "splurge" out using more credit

Ellieseleven

Chrisblue1962 wrote: »

Did CCCS review today. The lady I spoke to was really nice and after doing some sums, the amount I will now pay is £92.00 per month up from £61.00 per month, which ain't bad as I have now repaid gas & electricity arrears :T

This will now reduce DMP term from about 25 years to about 15 years... still a long time but it's going in the right direction. .

This might sound daft but I'm looking forward to paying a little bit more and clearing the debt quicker. It's a pity "Nationsnide" had to issue CCJ and Charging Order after spitting their dummy out over time taken to pay of their debt of £3,000.00...

I know exactly what you mean about looking forward to paying more off your debt, I was the same. I've just finished paying the finance on my car which has increased my payments by £259 per month but brings my DFD closer by over 3 years:) You feel as if there is light at the end of the tunnel when you see your DFD coming closer

Chrisblue1962

Thanks Ellieseleven

I think I am now at the stage where my finances are stabilised and now looking forward to making inroads into the debt.

The matter is hindered by the fact that costs outside my control, such as petrol, gas & elecricity and food just go up and whilst my wages stay still ...:(

Chrisblue1962

Charging Order hearing this afternoon ... as Captain Darling says in "Blackadder Goes Forth" just before going 'over the top' "...made a note in my diary on the way here, simply says "!!!!!!" "

Chrisblue1962

Well, had Charging Order hearing and Charging Order issued..not a surprise to be honest. I also had £264.00 costs added to existing balance of £2922.77, which means`I now owe Nationwide £3186.57.

Based on payments of £14.50 per month, it will take me 220 months, or, just over 18 years to pay off this debt.

In reality, the time period will be shorter as I have two other creditors who'll be paid off before Nationwide.

Ellieseleven

At least it's over now ChrisBlue... put it behind you and carry on, like you say other things will be paid off before then and who knows what could happen in the future;)

Take care

Ellie xx

Chrisblue1962

Ellieseleven wrote: »

At least it's over now ChrisBlue... put it behind you and carry on, like you say other things will be paid off before then and who knows what could happen in the future;)

Take care

Ellie xx

Thanks Ellieseleven

Yes, putting it all behind me is the best idea. Firewyrm stated some great words of wisdom in another post on the Forum, basically...

"When trying to eat an elephant, do it one bite at a time"

I now try not to look at the big picture as to how many weeks, months or years it's going to take me to pay everything off but l now focus literally on each day, ensuring that bills are paid, not spending anything that is not necessary and keeping motivated by "Little Victories" here and there, such as saving 50p on something, keeping within monthly budget again, spending less on petrol than I'd planned for the month so £2.50 or something like that will go into my Emergency Fund, etc .

I will take time to get there BUT I WILL get there!!

Chrisblue1962

Oh phoned me to today to say that she and two other colleagues are to be made redundant. No other details as yet

I am absolutely gutted for her and also what the future may hold . we were just starting to make very modest progress on getting our lives together, now this....

I really do not know what is going to happen...:(