Hiya....Newbie here

goldie_locks

Hiya Everyone,

Have just joined this site and everyone seems so lovely! :j
Here's my story so far....

Acquired most of my debt through getting credit cards, extending overdrafts through uni and making a couple of bad decisions along the way..
I bought my flat nearly 18 months ago and thats when it all went abit wrong really. At the time i banked with Natwest and extended my overdraft afew times with them so that eventually the interest they put on every month took me over my agreed limit and charges were added every month on 2 accounts i had with them. I sorta panicked and approached a DMP company (Gregory Pennington a fee paying organisation)... and have basically buried my head in the sand for the last 12 months (whilst paying them and the bank account they recommended £55 a month! :mad:) .... but since then i have managed to inoccur a CCJ from natwest as they didnt accept the payment i was offering and i know it sounds ignorant but i didnt know what it was when i got the court papers, when i phoned Gregg Penn, they informed me it was nothing to worry about and they would manage it all....so forwarded papers to them....and got the CCJ. (stupid of me, i know).

Have been toying with the idea of an IVA but have come to the conclusion that i dont want to add to my debt and im going to try really hard to still get debt free in 5 - 6 years.
So on friday phoned National debt line and they will take over my DMP, need to find a basic bank account. Would anyone recommend any?

Have cried so many tears over the last 6 months or so as have not been able to see a way out. But feeling a bit better now, and feel more on track! And my head is out of the sand...:T

Have worked out i currently owe approx £19, 447 to 6 creditors. :eek:

Have arranged to initially start paying £217 a month which will get me debt free in 9 years!!!!! But the plan is to pay more from next year as will be qualified in my job then and wages will increase :j

Thanks for reading, hope i havent bored you guys too much....

Goldie_locks

smilely

Hi Goldie_locks,

I'm not really much help as i've just started to deal with my debts, but just wanted to let you know you have done the right thing.

As for basic account i depends who you owe money too as you don't want to open one with someone you owe money too. I got one opened with nationwide, but other people have suggested barclays, and co-op. I'm sure someone will be along in a minute with a bit more help.

Tixy

Hi Goldie locks

Welcome to DFW, good to hear you have now moved your DMP to national debtline.

With regards to a bank account you need one with a bank you don't owe any money to. Th co-op cashminder account is popular on here, very good reviews, as is the HSBC basic account (can't remember what its called).

Hopefully you can work to make changes and get those payrises to bring your dfd much closer than 9years.

Have you been through each item of expenditure and researched to see if you can get it cheaper from a differnet supplier or better tariff? have you looked at if there is anything you can reduce or cut out?

People often start on here by filling in a statement of affairs - http://www.makesenseofcards.com/soacalc.html
that way we might spot areas for money saving, which will free up more cash for your DMP.

Welcome to the club and if you have any queries (or issues like more court papers arriving) there'll always be someone around to help on here.

Good luck

mamajojo

Hi Goldie_locks
Well done you for getting your head out of the sand...I know it can be a hard place to escape from, as I've only just done so myself and am :eek:eeking quite a lot still. I'm starting a dmp with cccs next month so not qualified for advice, except setting co-op basic bank account went smoothly for us although we are having to set up each dd one at a time, thought they'd do it for us...
Good luck,l lots of fab and v helpful people aroung here

banwa

Welcome Goldie_Locks.

Remember that there are people who have been in more debt than you who have got out of it again. It is possible and you have come to the right place for help and support.:)