Creditors have beaten me

livinginhope

Bankruptcy is NOT an option,we own our house,and cannot move,OH job will not allow bankrupt.This was our first idea when it all came to a head,but all people helping with debt have dismissed it.Enquired about an IVA,but won't have enough money to put into it.DMP was advised as best option,which suits us but the stress is unbearable,I know lots of you say don't worry it's only money they can't do anything,but when I'm in this state of mind.I imagine all sorts.

lynn44

log on to https://www.nationaldebthelpline.co.uk just found it on another thread great help offered and letters to write to creditors. Good Luck

fizzel81

hugs to you, hope things start to improve for you

fairylights_2

Have you written to your creditors with the standard "contact only by letter, further telephone calls will constitute harassment and will be reported to the police as such" type letter? I remember reading about them on here, not sure how successful they are ...

Anastacia

Hey,
How about the value of your house compared with your mortgage? Do you have much equity. I was thinking a long term secured loan which you could re-arrange & shorten as things improve.
Is debt still increasing or was it jusr circumstances conspiring against you for a while ?

Hugs
Panda

livinginhope

Thanks all,in answer to most questions,DMP has been set up,so all letters have been sent out complete with financial affairs statement,Abbey and GE Capital have stopped interest,LLoyds x 5 accounts and EGG will not,MBNA said interst stopped then changed their minds.EGG have sent letter today saying that as we have breached our conditions,they 'have removed the limit for the maximum amount that can be charged',they are also increasing the handling fee from 2% to 2.5%.I don't understand the point of them doing this,they cannot get more money from me.Increasing the debt is just making things worse.
Thanks Lynzpower will try putting a SKIP in the porch,see if good luck can flow over it,anything is worth a try,surely we can't have any worse luck than of late.

Lewby

Hi Livinginhope. Your name says it all! As many of the others have said, at the end of the day it is only money. You have you OH and apart from the depression I hope you have your health. The Prozac will make a great difference after about 5 days but try not to stay on it for too long - It is there to help you through a time of crisis but you need to dig deep and find some strength to get on top of things yourself.

I know you have given up your job but do you think you'll be able to find another one once the fog clears? I think you should definately go to the CAB and you could also speak to your GP who can arrange some counselling for you .... it really does help to talk to someone outside of the situation.

When I added up all of our debt it came to £98k in total. My sig has only got the CC debt on it but we have the rest in loans. It does seem overwhelming but my OH (who isn't realy worried about the debt like I am) says 'They can't send you to prison for it now'. His attitude didn't stop me worrying about it but it did put it into perspective for me. I ended up thinking that we had our health, each other, a roof over our heads, a family who love us no matter what and as long as we can live day-to-day then the debt will be paid off eventually. I then found this site, got lots of support from others who don't think like my OH but who really do want to offer help and the difference it has made to me is incredible .... just to be able to talk to people like you who understand what the feeling of debt is!

I hope that you will start to feel a bit better once the tablets kick in and that you will go to the CAB on Monday. They are brilliant and will do what they can to work with the DMP people to get your creditors to see sense. They haven't won because you have spent their money and unless they give you a chance to pay it back they will be waiting a long time.... if they get it back at all!

Keep posting and tell us about anything good that does happen ... every little good thing does make a difference ..... even if it's only buying your washing up liquid on BOGOF! Don't mean to sound flipant but those are the little things that this site has taught me are the tiny steps you take to becoming debt free.

Take care.

Lewby xx

livinginhope

Hi 5new panda bear,we have about 65k equity,but are unable to get another mortgage as already maxed out,also been advised not to do this,just to make it clear,this was not a case of overspending,I have long term illness and OH had to take time off work to care for me following major surgery and then MRSA.We went to the bank when everything sort of ok,they gave us 35k unsecured loan to help out,then our house burnt down,we were underinsured bigtime thanks to the bank,then we had a car accident and had to take more time off work,in the meantime we contacted creditors saying payments impossible but would not accept any offers,so had to use CC to pay CC and so on.Now 108k in the s**t.If these banks had listened to us when everything when tits up we wouldn't be in this mess now.

beverleyhills

Hope that you feel better soon

livinginhope

Hi lewby,nice(well not nice)to see I'm not the only one with really silly debts,I am living in hope as you say,but life just keeps getting worse,had a few thoughts today,going to take a couple of months off work,then decide on maybe a career change,or if we can manage without me working,going offline shortly to get some fresh air and do the garden,things always perk up after that.Thanks all for your continued support (as always)