Frightened about my future

too_much_debt

Hi

Just wanted to wish you luck, hope you got on OK today.

Do you have children? Just wanted to say I know you don't want to tell your family but even though I wouldn't be able to help out financial if my mum or dad were in the same situation I'd rather they told me so I could offer support and help to find out some information or just be there if they wanted company when talking or seeing people, the stress and worry of coping with this on your own is not good especially as you are in your 60s.

happyhaddock_2

Hi MM hope you are ok, did you manage to speak to CCCS, hope you are feeling alright, let us know if you need any help:kisses3:

Paulie'sGirl

Hi,

I've nothing really to add except my support. I'm literally filling up as I read this thread, people can be so lovely.

There's nothing so broken it can't be fixed. Just remember that you have friends and family who will love and support you, even if they can't help financially.

My best wishes in getting this sorted out.

Love and hugs,

PGxx

savingwannabe

good luck ann!
hugs,

:j

mouseann

Thank you all so much for your concern.
I am really sorry not to have replied earlier: I have been having problems with my router today and am still not sure it is sorted out, so my postings may be a bit erratic.
I did speak to CCCS but they advised me to finish the web form - this was before my router played up! I did get the form finished and then went offline. When my Debt Remedy arrived from CCCS they advised an IVA but it doesn't appear that they are going to support me. I am not sure whether I should ring them and ask for some personal counselling.
I have also tried to contact Payplan and they will be ringing me back.
I am a bit disappointed about this - not because of the IVA advice but because I was hoping that I would be getting some support with this from CCCS.
I know the support from this group is brilliant - and I am really going to need it even more - but I was wondering whether there were any opinions or experiences on CCCS vs. Payplan and whether an IVA is "doable" without the necessary support. Perhaps I just have too large an amount of debt for CCCS to deal with.
Trying not to feel despondent - thanks again for the messages.
Mouseann.

milliemonster

Hi hun, I have just read through your thread, I am sorry you've not had a great lot of help from CCCS, I don't personally have any experience of them so can't help there, what did they say to make you think they wouldn't offer any help?

The thing with an IVA is that they are very inflexible, in that once payments are set, there is little flexibility if your circumstances change over the 5 years, which I appreciate you are now retired, but you would also be expected to remortgage in year 5 to release equity, this may not be feasible for you which may mean an IVA wouldn't be approved for you, I don't know, I'm not an expert at all.

Please try Payplan and see what they say, I know bankruptcy is a scary prospect but I would head over to the BR board and 'speak' to the nice peeps on there, yes it would mean losing your house, but is that a price you would be prepared to pay to get rid of this noose around your neck and have your life back?, it is something I would definitely consider and look at if I were in your shoes

good luck xx

mouseann

Thanks for the reply.

I don't want to give the impression that CCCS were unhelpful. They just suggested that I complete the Debt Remedy form online because I had started it. When I received the final remedy report I was quite taken aback to see that they suggested that I "go it alone". I appreciate that my situation is very serious - in fact, it seems to be getting worse every day - but I was hoping for someone at the end of the phone for support.
I may try then again in a couple of days - depends on what Payplan say. I wish I could just sell the house, but I have serious problems with my heating and cannot afford to get it fixed. I don't think my house is very saleable at the moment!
Feel quite depressed tonight ....

Nargleblast

I suspect CCCS advised an IVA because paying off a debt the size of yours with the income you have would take many, many years with a DMP - it would not be feasible (debtfree date - your 109th birthday, or something stupid like that!). I doubt very much if you would be able to cope with doing your own self-managed DMP, and you would still be looking at a long, long time to clear everything. With an IVA CCCS would refer you to their sister company CCCSVA, who would handle everything, and you would be debtfree in 5 or 6 years at the outside. Alternatively you could try any one of the firms out there that do IVAs, but make sure they don't try and charge you just for the privilege of introducing you to an IVA provider. Either way, if you took out an IVA the staff of the firm would be there for advice and support. With bankruptcy you are looking at maybe 1 or 2 years I think. The Bankruptcy and IVA forum are worth a look in to get the info you need.

All 3 options have their pros and cons, talk to CCCS again, then talk to Payplan and see what they say. Early days yet, no need to despair.

happyhaddock_2

Oh Mouseann really sorry you didn't get the answer you were hoping for:( Have you spoken to CCCS since you completed the debt remedy?. When I did mine I didn't really want to accept that I would have to go on a DMP and thought I might be able to pick and choose which debts to inlclude. I rang them and went through the plan very thoroughly and they were brilliant, really supportive. Perhaps it's just "computer says no" but if you speak to them they may be able to give you some better advice and support. Please stay strong there will be someone who can help:A

beanielou

The fact you have problems with your heating doesent mean that you cant sell it.That will be noted on particulars & the price adjusted accordingly.
HTH.(Hope this helps)