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StepChange_Pavan

rachaelfleur wrote: »

Help someone please!! I really need some advice. I was in debt management plan with the CCCS but now my plan has been cancelled because I fell behind with payments. Unfortunately my mother died at christmas 2009 and I tried to keep on top of everything but unfortunately I fell into deep depression and attempted to commit suicide. I've been in and out of a psychiatric hospital and now feel very ashamed about what I did. Because of my depression everything else in my life got ignored especially my finances. I'm now seeing a counsellor on a regular basis and I'm slowly beginning to deal with my problems. I wrote a letter to the CCCS explaning my situation and also informed all of my creditors, a few have been very nice but a few have been awful to me. I've had debt collectors at my door and threatening letters. I currently owe money to my rent, council tax, gas & electric and all of my creditors. I'm really trying to get my life back on track but feel like I've fell at the first hurdle. I'm feeling really low right now and I'm beginning to think that suicide is my only option. Please someone help me.

Hi rachaelfleur and thanks for your post.

It certainly sounds as though you’ve been going through a really tough time. I’m glad that you’re on track with seeing a counsellor and starting to deal with your problems. You haven’t fallen at the first hurdle as you‘ve already come to the right place for help and advice.

As d3mon4ngel has mentioned, (and I know it’s easier said than done) it’s really not worth letting money worries get you so low and committing suicide is definitely not a solution.

Your rent, council tax and utilities need to come first before you pay anything towards your debts – even if this means that you’re only paying token payments until you get back on track.

Even though you’ve been to us for advice in the past, you can still contact us again. Although as it’s been a couple of years you’d need to start the process from the beginning.

I’d recommend that you either use our online advice facility Debt Remedy, or call our helpline on 0800 138 1111.

Please remember that no matter how bad it seems at the moment, there’s always a solution and we can look at your situation in detail to find the best one for you.

I really hope we can help

Kind regards,
Pavan

System

Hephaestion wrote: »

Hi,

I hope someone can help. I have a number of debts I've been managing to keep up minimum payments on for the last few years. Problem is I'm now losing work, and can't keep things up any more. I've recently tried to reorganise with limited success, but the main problem is the lack of money coming in, and that's only probably due to get worse, especially as I work in education and have two months every summer when I don't get paid.

My debts are:

Card 1: £5800, 30% APR. Minimum payments roughly £170-£200/month when new repayment rules kick in.
Card 2: £2200, 0% APR. Payments £60/month. 14 months left on 0%.
Card 3: £900, 5% APR. Payments £20/month.
(The last two are recent transfers from Card 1)
Card 4: £450, 27% APR, £20/month.
Loan: £5000. £140/month, 3 and a half years left on loan.
Overdraft: Hovers around £300.

Total debts: roughly £14350, payments roughly £420/month.

I've been doing this for the last three years or so, and though I managed to get £3000 off the balance of Card 1 switched onto lower interest cards (I worked out I'd given £6000+ to Card 1 over the last few years for the balance not to move) I've reached the end of what I can do. I've been working part time over the last 6 months (earning roughly £450-£600 per month depending on term dates), and have spent all my spare time trying to find more work to no avail. I'm pretty certain that the work I have may be reduced further come September, and I've borrowed from family to keep things going. I feel like I'm staring into an abyss. This has affected my physical and mental health, and I can't go on any longer.

I'm thinking that Bankruptcy may be my only option, as paying debts is leaving me with between £50 and £200 per month for living costs, which I'd barely meet even without debts. I have a very small occupational pension, so don't think I qualify for a DRO.

Can anyone give advice?

Thanks,
M.

Hi Hephaestion and welcome to the forum.

I think we can help with your situation, and I also think we can help with some of the strain you’ve been under.

There could be a number of solutions available to you. The legislation around DROs has recently changed so even though you have a small pension, it may still be an option for you.

I’d recommend that you contact us so that we can look at your situation in more depth. To do this you can either our online advice facility Debt Remedy, or ring our free Helpline to book a telephone appointment with a counsellor.

Debt Remedy will assist you in completing a financial statement which includes information on your household, employment, income, expenditure and debts. All this information is used as a basis to determine the options available to you to deal with your situation.

Once you’ve followed the process through and completed all the required information you will immediately be presented with an advice booklet, which will provide tailored advice for you based on your current circumstances. It will also provide advice on ways you may be able to improve your situation.

Alternatively if you would prefer to talk to a debt counsellor about your situation, you can book a telephone based appointment by calling our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00. If you do decide to call us, please have details ready regarding your income, expenditure and creditors, as this can help speed up the referral process. If you have all of the necessary information ready, it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

Kind regards,
Mat

rachaelfleur

I was in a really bad place on Saturday night but I'm slowly realising that's money is not worth takling my life for!

Thank you to d3mon4ngel for your kind and sensible words, you made me cry but in a good way!
#1750


CCCS_Pavan, it's actually only been a few months since my DMP with the CCCS was cancelled. I recently made 2 months payments by standing order which has since been returned to me in the form of a cheque. Is it possible to restart the DMP or will I have to start afresh? Either way I don't mind but I'm definitely not strong enough to deal with it on my own. I want to deal with this and get my life back.

Thanks very much.

Rachael

secretshopper75

Rachael, glad to hear that you're ok, I can fully agree that money isn't worth taking your life for, it's only paper and as the banks have proven, it's not worth the paper its printed on, I do so hope that you manage to start a DMP again, keep us posted. Good luck.

rachaelfleur

I hope so, I really don't want to feel like this anymore. I'll keep you posted. And thankyou, it just takes a few kind words of support to make me feel like a million dollars!

secretshopper75

rachaelfleur wrote: »

I hope so, I really don't want to feel like this anymore. I'll keep you posted. And thankyou, it just takes a few kind words of support to make me feel like a million dollars!

I agree

Twins

Hello,

Hoping you can help. I guess I've had a 'lightbulb' moment and now realise I need to sort out my disaster finances and sharpish.

I just don't know where to start or what to do?!

I've got credit cards, overdrafts, loans and am struggling to meet them all every month and have resorted to taking cash out on my credit cards to help me with my overdraft just so that I can pay for food shopping etc!!!

I feel so ashamed that I don't even know the extent of my debt, I've just been burying my head in the sand and let it go on and on and on...... I think I must be in the region of about 25K debt.

So please can you tell me firstly, if I contact CCCS does this go on record with the credit card companies? Will my credit rating be effected? If so, how long does this take to sort itself out? I've been so reluctent to call or use a debt management company as I don't want my credit rating to look so bad although I fear I am already there

Please advise! Thank you!!

hathadave

...rather than regret it later!

we're been reacting rather than acting for a while now, and not doing so well, and are now close to maxed out on credit cards and overdrafts etc.

we are hoping for some advice on how to finally get on top of things.

we're reluctant to borrow again to refinance debts (around £25k), but unsure if trying to agree reduced repayment terms with various creditors would affect our credit rating more than taking out another loan? (assuming they'd give us one!)

obviously agreeing a repayment plan is better than missing payments, but is it recorded forever on our credit score?

many thanks,

Dave

Manodio

Hi

Story is quite simple, while on full time employment my bank was increasing my overdraft limit on their own accord and when I was laid off I made the mistake of using it to the max. For several years the interest was accumulating and I was able to pay it every month but I was unable to reduce the original overdraft amount.
The situation worsened and 2 months ago I stopped paying and using the account altogether.

I seek to go through the financial hardship route as I am unemployed and I need my benefits to live, if I use my benefits to pay off the debt I got no money left to pay for my living expenses. However that route takes months and the outcome is unknown. As I have no other current account at the moment what are my options? Will I be able to open another account with another bank, building society, even a savings account to have my benefits money paid into them while I try to settle things out with my bank or am I in the red already due to bad credit rating?

As you can understand the situation is a bit desperate and interest is accumulated over the existing debt in the hundreds every month. The bank doesn't seem to be particularly sympathetic to people in my predicament though they were the ones who originally "lured" me into using the overdraft facility in the first place.

Thanks

Ellabelle

Hello,

I have just phoned you lovely people at CCCS for a review as my income has reduced. This has resulted in my monthly payment being reduced on my DMP.

Do you contact my creditors to make a reduced payment offer or do I need to do that?

Thank you for your help.

Eb.x.