Falling back into the black hole

fifixx

Hi all.

At the beginning of the year I negotiated with all the credit card companies to make small payments and they agreed, giving me an interest free period too. They were mostly very helpful and set up direct debits for the small monthly amounts.

In the last 2 months, I haven't had enough money to cover even these and they have been sent back - and now I am back to not opening the letters and in a panic.

Every time I get some money in (I am self-employed with a small regular income each month and usually some extra income each month which is unpredictable), I end up paying bills and not keeping enough for me.

I am in a bit of a fog - I could put some stuff on ebay and do a car boot sale, but I just can't get it done.

If I redo my monthly expenditure and income list and send them a letter, does anyone know if they are receptive the second time around?

Tixy

Hi fifixx

Sounds like you need to work out why you cannot meet the repayments? was your first income & expenditure unrealistic? has your income dropped? are you spending too much on luxury items? Once you have worked that out, it will give you an idea as to whether they will accept a reduction. Alternatively have you considered doing a DMP with one of the charities instead of dealing with your creditors yourself?

Not opening the letters is not the way to go, and if your DDs are being bounced then I would say you are better paying by other means (as bounced dds are just wasted money in charges).

fifixx

I am halfway through the April figures - feel like giving up but will press on - damn, it is so hard!

niccatw

fifixx, how's you mental health? You sound very down about it, which makes keeping on top of it and sorting it out very hard (from my experience!). It may be that by asking Citizen's Advice, CCCS, Payplan or National Debtline to mange you DMP for you, it will take the pressure off you and help you feel more positive. Or it may be that you want to discuss how you are feeling with a good friend or your GP.

You couls also posy you incominings and outgoings on here and we will give you advice on any areas where you could maybe reduce spending.

Try and keep with it, you will feel more in control just by going through the paperwork and posting on here.

Good luck .