Please help me! I am in such a mess!

becky678

Me and my other half are in debt and struggling to pay it.
We have £12,000 loan we took out to refurbish our home, half secured, half unsecures,.

We have a £1,187.00 overdraft debt that is with debt collectors.

We have a halifax loan £1,907 left with a debt collection agency.

We have a £7,000 loan with norton finance

and about a £1000 altogether on store cards, catalogues and one credit card.

I do not know what to do, we are not making enough income to pay the minimum repayments. We have the debt collectors on to us everyday.
I can't sleep, Im losing weight due to stress, we have two kids age 5 years and 18 months. My partner works full time and i work part time.
We have been refused remortgages because we have a bad credit rating. We called a debt councelling place they said they couldnt help us as we had no more money left over at the end of the month?

Can i ask creditors to freeze interest? I don't know what to do, i can't live like this anymore. I do not want to go bankrupt as my children will be homeless. What is a cca or ccj? please help!

Tixy

Hi Becky.

Try not to panic - I know you are scared at the moment but there are many options available to people in debt not only bankruptcy. What we need to know is more about your situation.

It would really help if you could post a detailed financial statement of affairs using this - http://www.makesenseofcards.com/soacalc.html - so we can try to advise you. Follow the instructions to post on to MSE and post on this thread.

Once we have seen this we'll see exactly what shape your finances are in. Also can you let us know if you are in arrears with your mortgage, council tax, utilities etc (as these are priority debts)

Btw a CCA is the consumer credit agreement, a CCJ is a county court judgement.

dancingfairy

Hi - please don't panic as Tixy said - there are always ways to sort these things out.
The best place to start is to try and get your SOA done as per the link from Tixy.
Did you speak to a free debt charity or one of those places that advertises on the tv/in the papers? It would help to know where you have been for advice.
Good Luck
df

dib-dab

I am fairly new on here myself so don't have answers for you I'm afraid but just wanted to say try not to get yourself into such a state. You are in this position and it isn't going away today so try not to stress yourself too much by worrying about it. I too have had sleepless nights about my debt and feel so much better now that I have laid my cards on the table and am focusing on how to get out of this My position is not much better yet but I know it will be and what I am even more sure of is that it won't get any worse (unless some redundancy disaster happens) and will never happen again. I know it is easy for other people to say don't worry and realistically you can't stop worrying completely - that wouldn't be healthy either as it would be burying your head in the sand. But you need to try to keep a clear head to focus on what your next step is.
There are so many people on here who have been through the same thing as you and their stories are inspirational. They have come through it and you will too. Children are amazingly resilient and if you try to not discuss your debt worries around them then they may barely even notice there is anything wrong. They will be fine.
Good luck with everything and well done for coming on here and making the first step. You will get loads of people who have more useful practical advice than me.