Frightened about my future

mouseann

Thanks again Mojoparrot,

I can more or less exactly relate to the situation your mum is in - I am nearly 66 and have finally retired. I also robbed Peter to pay Paul - I didn't have enough to cover minimum payments even when I had a decent salary. So have absolutely no chance of paying it off from my pension. A few cards have a bit left on them - I have stopped using them - but I suspect that they will be over with the extra charges they slap on when you default.

And the point you make about having paid all that extra interest. It is absolutely infuriating when the banks just keep hiking up the interest rates on cards, particularly in a period when interest rates are so low.

I am going to put unenforceability on my list of options and look at that thread. Presumably it needs to be done before going for an IVA - as an IVA can be regarded as an acceptance?

And at least, Mojoparrot, your mum has you to help and support her - even if you can't do it financialy I am sue the emotional support is there for her. Unfortunately, my family are so judgmental I think they would disown me if they found out my guilty secret about my financial situation. And there is so way they would be able to help me financially.

I am certainly finding this discussion a mine of useful information.

Nargleblast

stroppyjock wrote: »

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

After you with the squeegee mop and the rotten cabbages!

mouseann

Forgot ask earlier!

Have looked at the thread for those click things, but they mostly seem related to actually buying stuff - an activity I am totally avoiding for obvious reasons!

Is anyone able to give me some easy advice on this, please?

Thanks in advance.

Nargleblast

Mouseann, you may find Never in Doubt lurking around the notice to newcomers thread, he has been causing us ladies a bit of havoc on there whilst Numpty Monkey has been away! Alternatively you can always send him a private message - find his name in the list of members then click on the option to send a private message.

misscousinitt

Hi

Well done for posting and I'm pleased that you are feeling a bit better about the situation.

Can't really offer any advise as such except please look into any extra benefits you are going to be entitled to eg council tax benefit, pension credit - are you claiming your state pension yet? If not you will be entitled to a lump sum for back pay.

Hope it all goes well for you setting up your plans...it will be ok...these people on here are lovely (as you know) and will be here to support you throughout.

Good Luck.

A

x

robyn-francis

mouseann wrote: »

Hello all,

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.

QUOTE]

Once a sale is agreed and the sale completes all estate agents cost, solicitors fees (which are ALL REDUCDED ON THE SCHEME) are settlled firstly from the sale proceeds and what ever is outstandning is most likley arranged onto a new loan with affordbale repayments.

:T:TTHIS HAS NO AFFECT ON YOU CREDIT REPORT AT ALL! I promise!!!!!!!:T:T

As far as the deposit goes, you may be able to go to the council with a letter from your morgage lender explaining what you are doing/have done and they may out you on housing benifit and find you a home. I have heard of it happen. Its really worth trying!

Good Luck!

GeorgeUK

Mouseann, this may confuse you a little more than it helps you but here are some links to threads relating to enforcability of customer credit agreements. CCCS and Payplan will not help with this but you can get plenty of assistance on the board - it isn't a silver bullet but will definately give you more options if your loans and credit cards are not that new. Pre 6th April 2007 agreements are the ones to look at.

Details: http://forums.moneysavingexpert.com/showthread.html?t=578486
Legislation: http://forums.moneysavingexpert.com/showthread.html?t=1496721
never-in-doubt's thread is here.
http://forums.moneysavingexpert.com/showthread.html?t=2305463

chivers1977

Mouseann - http://www.payplan.com/debt-solutions/assisted-voluntary-sale.php

Here is a link re the AVS scheme. It says that Payplan will recommend if they feel that it is right for you. Please make sure that you don't rush into any decisions.

There are so many knowledgable people on this forum. Just take it all in for a little while while the charities get their advice ready for you xxx

mouseann

Thanks for this George and Chivers,

I have to confess that I have spent the weekend wondering how the phone call with Payplan will go and what options they will offer me.

And I full agree with the statement about not doing anything in a rush and listening to all the knowledgeable people on this board. I dread to think how I would have survived without this support.

Still not sure I really understand the enforceability issue. Certainly most of my credit cards are pre-2007 (think all but one or two?), admittedly with lower credit limits. I understand that the charities will not help with this so not sure how to "go it alone"? I think there are some people on the forum who are knowledgeable about this so would appreciate their advice. I also fully realise that this is not a universally popular option - in my defence, over the last years I have paid the banks an astronomical amount of interest. (Not that this will make any difference whatsoever!)

Again, help, advice and just kind words are so greatly appreciated.

franwh

If I were in your situation, then bankruptcy has to be a serious option. With your employed income coming to an end, its unlikely you will ever clear your debt. Bankruptcy would give you peace of mind in your retirement instead of trying to appease creditors.