Frightened about my future

lessonlearned

Hi Mouseann

Just wanted to say how well you are doing.Keep your chin up you will get there.

I can't help or advise about IVA's etc - you need expert guidance for that.

One thing that did occur though is that you need to protect your income in the short term so you can pay your mortgage, council tax and utilites etc. I think the basic bank account for your pension is a great idea. Also where possible deal in cash. Ebay monies go into your bank but if you did a few car boot sales for the real tat you would earn cash.

If you used your spare room for a lodger they could pay you in cash. Your cash could pay for food, petrol etc.

Do you have any skills or interests you could turn into a little sideline business. I know you would like to find a job but there's no harm in doing both - if you have the energy that is.

Very good luck to you. Again, you are doing really well facing up to things.

angelicmary85

hypno06 wrote: »

Right.......first of all, stop beating yourself up about being in this situation. That sort of thing will get you nowhere - you can't look back, only forward

Well said Hypno!!

Has Niddy been on here yet? He might be able to offer some advice?

mrscmr

sometimes we need to hear some kind, but firm words.. i believe hypno summed it up perfectly. you are not the first nor the last with this size debt. right now you are overwhelmed - do as she suggests... it will give you something else to focus on instead of the sinking feeling you have right now.

this will be sorted out.

Nargleblast

Mouseann - as Hypno and others have said, no more knocking yourself down about the situation. Yes, you have made a mess of your finances, but so have I and so have many others on here, and nobody has the right to judge. Move on over in the stocks, there, woman, it's my turn to have the great and perfect of this world throw the rotten tomatoes at me! And there is a whacking great queue of people behind me waiting for their turn too - read some of the diaries and see what messes people get themselves into. In short, Mouseann - you are not alone. Now the learning starts. One day you will be free of debt, and you will have learnt valuable lessons along the way on how to live well on a limited budget. And I hope you will keep posting along the way through good times and bad, because the support and friendship you will get from people on here will make all the difference between coping and living.

mouseann

Hello all,

Thanks for all the kind words and advice received yesterday.

I was quite overwhelmed when I logged on this morning to see so many words of encouragement and practical advice.

So, in reply to all the posts (and apologies if I overlook anyone) here are my responses.

Robyn - I am flattered to be the recipient of your first post! I had not heard of this scheme and I think it may well be the answer, as I really can't see my way clear to stay in my house. When I was finally working things out for Payplan before their in-depth telephone call yesterday I unearthed my latest secured loan and mortgage statements. By my, quite rough, caculations these two total abot £25K - which is quite a bit less than that mentioned on my SOA. However, this is hardly good news - as the CCs are gradually racking up to £130K. I am hopeful that my house will sell for around £130K - less than £120K would be a give-away. Not sure what would happen about the deficit - especially as estate agents, HIP and legal fees will also eat into ths. I will also need a sizeable deposit for somewhere to rent - not sure about how the credit check for this would work. Anyway,when I do my follow-up with Payplan or CCCS I am going to mention this.

After the holiday I am going to contact Age Concern or Help the Aged to see if there is any entitlement for essential repairs to my heating. My proud has been well and truly swallowed now - I realise that I have little to lose!

Will also start using cash more - the card days are well and truly behind me now!

Have seen the recommendation re minimum payments - I have about 4 due within the next few days. However, Payplan have advised that I do nothing about this until I have my next session with them.

Think I am relieved to know that I don't have the largest debt ever!

Haven't seen anything from Niddy? Does he have a specialised area of expertise? Should I be posting on another thread - I have, somewhat selfishly, concentrated on my own without contributing anywhere else.

Finally, thanks everyone for taking the time to read and reply to my rambling postings. Now I have (finally) opened the flood-gates it's as if I need this as an emotional outlet.

mojoparrot

Have you looked at the unenforceability thread on debt free wannabe? I and my retired mum are in a very similar situartion too. We are checking the CCA's. I know this is a controvertial subject but maybe worth a look as you will proberbly default at some point.

mouseann

Hi Mojoparrot,

Thanks for this.

Someone earlier on mentioned unenforceabilit and I did look at the thread but didn't really understand how it works!

My understanding is that the original credit card should have been taken out before 1997. I think about 10 of mine were taken out earlier than that, but with lower credit limits. The credit limits were just increased by the banks: I did not have to sign anything to agree to this.

I realise that this is a controversial topic, which seems to polarise opinion. Also, I am not sure whether the debit charities would support this stance.

Any more experience/guidance would be very welcome!

stroppyjock

Hey nargleblast can you clean down the stocks, I'm allergic to tomatoes.lol

mojoparrot

I think its befrore 2007. Never In Doubt (NID) on the thread is very knowledgeable about this and there is a flow chart and pro forma letters which are easy to follow. I think that if anyone was looking at your debts they would try to write off what they can before making payment offers. If you follow the flowchart and if your debt comes back as enforceable then there is an offer letter at the end of the process anyway. My mum is struggling to come to terms with not making payments as we have reached the part of the process that means that we stop making payments to get the lenders to react. The thing is she is on a pension and has been robbing peter to pay paul too (as I have) and she has run out of credit so she physically cant pay what they want her to. Even if she could make the minimum payments it would proberbly take her 50 years to pay off the debt anyway and without being awful (shes 68) the debt will never be paid off in her lifetime, so nothing to loose in checking for unenforceability. Its horrible when you have always worked and paid your way to be in a position where you just cant continue. I think some people think that unenforceability is an easy option but its not, and when you have had the credit for a long time you have proberbly repaid the debt back several times with the interest and subsiquent intrest jacking.

Take a look on the thread, if you can keep making the mortgage payments then it may be an option for you. I've learned loads about the subject through NID and the posts.

Good luck!!!!!:D:D:D

BEAT_THE_DEBT

Hi Mouseann, Hypno has given you the beat advice ever. Keep posting on here have you got a diary on debt free diaries?? The friends i have made on here are invaluable!!