debt SOS

shearman

I am a Freelance Television Producer/Director. In 2001 I moved from Leeds to London and from a secure rolling conract to the freelance sector. Looking back on it now I can see that I was incredibly naive. All went well for the first 8 months - I got jobs and they went well - but then there was a 6 month gap between jobs and then in September 2002 I just stopped getting work. I didn't get work again until August 2003. Between September 2002 and December 2002 I used credit cards to maintain my lifestyle - (not extravegant but one of someone used to an income) the credit cards reached their limit and I ignored them - I got a 1000GBP loan but my rent was 800GBP a month - I didn't feel the need to get housing benefit. In February 2003 I went middle-class homeless - everything went into storage and I moved from house to house when friends went away or I slept on my sister's sofa - it was a miserable, dibilitating time. The strange thing is the letters stopped from the banks - I no longer had a listed address - it felt strangely exciting to be 'underground'. It felt like I had escaped.


Fast forward to 2006. I now get regular work and my yearly salary has gone from around 13,500GBP in 2003/4 to about 38,000GBP pa. I am single, I rent - shared now a much more manageable 500pm. I know I have picked up CCJ's and I know that the credit card debts have been sold to third parties, I know that my Credit Rating is going to be catastrophic. I know that I have to find out what my credit rating is and who my debts are owed to. I really want to pay them back and I am now able to do so. I am terrified that they have mushroomed to unbeleivable sizes - they were originally about 4,300 GBP - Abbey Credit and about 3'700GBP. I did manage to pay off the loan. My life is actually getting back on track and I want to be completely debt free. I don't have an overdraugt any more - I did pay that back - it was 2000GBP at the beginning of 2003.

I suppose what I would love to know - is there someone out there - a consultancy or agency with whom I can employ - someone who can stand up to the creditors and work with me to get this debt gone - sensibly and without involving courts, bailiffs and all of that?

Thank you


Stephen

BlondeHeadOn

I'm no expert, but I'm sure someone will be along soon to help you out. Just wated to say welcome to the board, and good on you for wanting to get to grips with your debts.

All good wishes

:grouphug:

aimme13

Hi Stephen,
well done for turning things around, I would get a copy of your credit report as a starting point so you know exactly how much you owe and to whom. Also if any of them have been passed on or any CCJ's issued.

The citizens Advice bureau would be a good place to go to get advice, however i know if you are in London they are hard to come by and have limited opening hours.

Have a look also on pay plans website https://www.payplan.co.uk they are free and will help you contact your creditors, you will need to know exactly who you owe money to and how much. As your income is quite high you shouldnt have a problem paying it back once you have contacted everyone. A lot of people on here use them (including myself) also CCCS do the same thing. (there is a link on here somewherere but havnt worked that one out yet!)

Payplan will offer you good professional advice so and hopefully you will be able to start paying back those debts soon

Sure others will be able to help you some more but hopefully thats a good starting point

good luck :beer:

isgman

Welcome to DFW, you have come to the best place for advice, and you have done the correct thing,., "knowing you have debt and Getting it out in the open," Well Done

Chortle_2

welcome to MSE :beer:

Definitely get your credit files (get one from each of the 3 credit reference agencies, as can all show different info) to see what debt you do have where, and with whom.

Once you've worked that out, either call Payplan or CCCS (the link for CCCS is http://www.cccs.co.uk)

Both are FREE (don't go to one of the charging companies - they offer the same service as the above charities, but will take money off of you each month that could be going towards your debt!) and very well respected within the industry. Good luck!

sportbeth

I'd also consider looking at full and finals if you can.

Have a look at your credit file as a reminder of who is owed what, but you might find that what was originally a £400 credit card has now mushroomed to £1200.

If you can track down a debt collector or even the original creditor who is dealing with it, you can offer him around 70p in the £1 or less for the debt. And with your salary you might be able to pay off small lump sums each month or every other month with a bit of saving. This might make more sense than paying £100 a month to this one or that one and paying all the interest and charges that have been accrued along the way.

shearman

Dear all thank you so much - it's a daunting thought to actually find out how much I owe. The overwhelming feeling is that things are actually pretty normal - I don't have any bailiffs banging on the door, no threatening letters - on the surface it all seems fine - but I know, deep down if I want to return to the things others take for granted then I've got to confront this debt.

Thanks for the advice - I will keep you up to date with how I get on.

S