Fearful Newbie - phone calls etc what to do

mamajojo

Any advice gratefully received...
Our pack of badly held together cards has fallen down, but .the light bulbs on and staying on.
We've decided that we are going to try for an IVA - recommended by CCCS.
Opened basic bank account today - the easy bit I guess.
The credit cards are phoning non stop now as we've missed the payments this month, we can't pay, but are going to send out the letter shared on another thread asking for 28 days and make a token payment. Is this a good idea?

I can't answer the phone, don't know what to say and am a nervous wreck and don't want to say anything that might have a negtive impact on chances of IVA.
What should we say or should we just keep dodging/unplug the phone...3 little children are wondering why mum's a weeping wreck.
Thanks for any advice you can offer

Nargleblast

Send out the token payments with the letters. You don't need to go into details of what you are planning to do at present, just let them know you are having severe financial problems at present but are taking professional advice and will be back in touch with them as soon as possible to discuss methods of repaying your debt. It is standard operating procedure for banks and credit card companies to bombard you with phone calls and letters for a while, after all, they want their money. You just have to be firm, state you cannot afford to pay more at present and will keep them informed of your plans to repay the debt once you have spoken with your financial advisers. Keep a record of all phone calls received and copies of letters received. Get that professional advice asap, whether it's from CCCS or an IVA provider or any other organisation you choose to handle your affairs. Do not use any company that charges you upfront for advice. Keep all phone calls brief and to the point. Hang in there, it does start to settle once you get things under way, but make sure any decisions you make are fully informed ones and not ones you are pressured into making. Good luck and keep posting on here to let us know how you are doing.

lou756

Just echoing Nargleblast really... I've very recently lived through the phonecalls stage. If you choose to answer the phone, be brief and business like, tell them you've made/will be making theonly payment you can afford and have kept/ will keep them informed in writing of your situation. Don't get drawn into further conversation, say goodbye and put the phone down.

Try and remember that you haven't lost your right to privacy in your own home and life..... this bit is really tricky while you are feeling low and worried about it all.

the calls will go away, honestly as you get the advice and then take the action to resolve your situation. Good luck.

mamajojo

Thank you both so much for replying, you've made me feel much more able to face tomorrow!

althas

A few things to be careful of. Do not favour one creditor over another, so if you decide to send token payments, send them to them all for the same amount

A few tips that worked for me:
If you have internet access for your finances, go online and delete your phone number, so then they will write to you (keep ALL letters for further reference)

Change your phone number with your provider. When I rang BT they said I could have 1 free number change

WRITE (and keep copies) to all your creditors and say you are in financial trouble and that you are seeking independant professional advice. Could they please bear with your for a short time whilst you get the advice. Mine wrote back and said they would allow me 28 days. By this time your IP will have wrote to them all

I sent no payments once I began the IVA process, not even token ones. The money you would send, take out in cash and put under the bed for an emergency (like washing machine breakdown etc)

And as the other posters have said, do not engage in a conversation on the phone with your creditors. A LOT of them are vultures and work purley on a commission basis, and will say and do anything to get money from you. There are rules and regulations that govern their behaviour, I am sure there will be someone who can quote them for you, so you can throw them in their face. It is amazing how empowering that is for you

Be strong, for yourself and your family. You are NOT alone in this, I almost fell completely apart when my house of cards fell, I was VERY close to it. But at the end of the day you have done the hardest thing, admited there is a problem and done something about it, so WELL DONE YOU

Be careful on who you choose as your IP. Do not go with someone who will actually only intorduce you to someone else, or anyone who asks for an up front fee. There are to many reputable firms these days for you to have to do that. They will ALL be friendly in the start, they want your business. The thing is you will be dealing with these people for the next 5 - 6 years. It is the after-care that is important. Have a look at www.iva.com when you have chosen a few IP's to "shop around". That site has a LOT of reviews of IP's by their clients, so it will help you select a good firm

Sorry if this seems a lot of info, but the next couple of months will be a little hectic, but once it is done the relief is soooo good, it is worth it

Good luck on who you choose, and check your private messages

mamajojo

Thank you Althas for your reply kind words and advice, greatly helpful and you've given me some more to work on - better that than giving in. Was going to do pro rota payments so you've really helped me there. We both feel so bad about ending up in this mess, but you and the kind people on this site make me feel there's light at the end of the tunnel. Thanks

trudij

it will be fine mamajojo - deep breath, like the others have said, dont panic - it will all work out.

Just remember, your IP is on your side !!

xx

Nargleblast

Mamajojo - you have taken the first steps to sorting your life out, and it can only get better from here. Hold on to that thought.

lou756

You'll be fine honestly, you will get through this.

There's lots of support right here; the people on this forum are just amazing with their care and advice.


Don't ever feel you need to worry on your own about any aspect of it all.

iamcornholio

For the phone, get your phone company to activate "withheld number rejection" and caller display.

They you see (and choose) who to answer the phone to and don't get to hear those that try to sneak a call in by staying anonymous

mamajojo

Again more thanks for your support and advice. You are such kind people. Done letters, token payments and having a phone meeting with CCCSVA on Tuesday, will have good look into other IPs. Just taking these steps has made us both feel much stronger, and hopeful I guess. Answered phone to hsbc was blunt, matter of fact and business like, they said they'd give us the 30 days we'll wait and see. Little one answered to m&s (need to move phones so they cant reach them), these were more persistant and verging on unpleasant and stroppy.
A better day today
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