All help and advice so very, very welcome!

depressedwithdebt

Thanks LL

How do you manage to avoid CCJ's? I thought certain lenders like MBNA almost always go for these??

Sunnylooloo

My creditors are Egg/Mint/Halifax and Co-op. I am in arrangements with them all and I think this holds them off from doing anything as I am making regular payment (affordable for me).

Mint have put a default on my credit file but they are not charging me any interest at all so the amount I am paying is coming off my outstanding balance.

Halifax have reduced the interest - but mark me as a late payer.

Co-op add some interest and charge to my account but reduced

Egg have a reduced rate.

I'm not 100% sure how long the arrangments will be acceptable (Egg have told me I only have a year then we must come to some other arragement). Co-op initally gave me 6 months we reviewed and they gave me another 12 months. Not heard anything from Halifax or Mint so I just keep paying as I do.

I started them all from November last year.

I had to ask another friend about the CCJ's I was a bit confused I will send you a PM with what he told me so it might clear things up a bit for you or someone else here might be able to put up some info (as I was really scared about the mention of CCJ's)

LL

depressedwithdebt

Sunnylooloo wrote: »

My creditors are Egg/Mint/Halifax and Co-op. I am in arrangements with them all and I think this holds them off from doing anything as I am making regular payment (affordable for me).

Mint have put a default on my credit file but they are not charging me any interest at all so the amount I am paying is coming off my outstanding balance.

Halifax have reduced the interest - but mark me as a late payer.

Co-op add some interest and charge to my account but reduced

Egg have a reduced rate.

I'm not 100% sure how long the arrangments will be acceptable (Egg have told me I only have a year then we must come to some other arragement). Co-op initally gave me 6 months we reviewed and they gave me another 12 months. Not heard anything from Halifax or Mint so I just keep paying as I do.

I started them all from November last year.

I had to ask another friend about the CCJ's I was a bit confused I will send you a PM with what he told me so it might clear things up a bit for you or someone else here might be able to put up some info (as I was really scared about the mention of CCJ's)

LL

That's very informative LL, thanks.

Did you sort out your DMP yourself then? I was thinking of using someone like Payplan who I have heard good things about if I have to go down the DMP route.

Sunnylooloo

I did my own with help from National Debtline - they have all the template letters and Income and Expenditure sheets. They are also so helpful on the the phone (might take a bit of time to get through).

CCCS are also supposed to be good and I also spoke with my local CAB

http://www.citizensadvice.org.uk/index/getadvice.htm
http://www.nationaldebtline.co.uk/
http://www.cccs.co.uk/

Personally (and this is my own personal view) I did not have a very good experience with Pay Plan (although others have so please do some research). They set me a completely unrealistic budget which i told them there was no way I could keep to it. They wouldn't let me add in my pet insurance (i have 4 pets) she said my diesel was too high (erm that is what I use) and there was a couple of other things and I was amazed, I knew if I had gone it to it with them I would have ended up not being able to keep up payments. (what amazes me is, that i know for a fact my ex has blatently lied to Pay Plan about his earnings and expenditure and they never questioned it and gave him a plan which he is paying back half of what they expected me to pay!)

Any sorry that is just my own personal little rant.

I would check out a few options and see what is best for you.

I have sent you a PM about the CCJ's

LL

Marisco

Hi dep, defaults are just as bad for credit ratings as CCJ's. In my experience the courts tend to be more understanding that DCA's, and will only award what you can realistically afford, no matter what the DCA's want!!

Sunnylooloo

Hi Marisco - i know my credit history is now shocking and it is going to stay on my file for a while to come..... I got some good advice on CCJ's and I also think it works a bit in your favour if you are making an effort and are paying. At the moment my debts are all with the original creditors - nothing been passed on.. YET but I think Egg is the one that will not play ball for much longer.

At least I have had a year to get things sorted.

I think that DWD is really worred about his credit rating

depressedwithdebt

Thanks for all of your suggestions everyone.

Sunnylooloo has been offering me supportive words and showing me that all is not lost, and I can still get out of this mess, and indeed that I may still be able to have a life during any DMP (if that is what I end up doing).

I have been on CCCS site, and that seems really helpful. The amount of money they suggest I pay my creditors each month is £750, which is certainly do'able. It would also mean that I would be able to live off money coming in rather than credit cards and loans which would be amazing!

Any more suggestions or tips would still be greatly appreciated. I can't see I am going to be able to juggle my money around to avoid a DMP or without having to get a consolidation loan, and am worried about being able to get a loan anyway.

I am still very worried about CCJ's, and also what will happen to my current fixed rate mortgage when that finishes in 3 years time.

tbourner

depressedwithdebt wrote: »

I am still very worried about CCJ's, and also what will happen to my current fixed rate mortgage when that finishes in 3 years time.

Our fixed rate ends in June next year, and I'm worried that interest rates will go up loads around that time and we won't be able to afford to pay it! You have a problem in that interest rates are likely to be higher in 3 years time, but also the luxury of knowing all this right now -as I didn't 2 years ago- so you can focus all your effort on paying as much as possible.
Have you written your speech yet to tell the missus?

depressedwithdebt

tbourner wrote: »

Our fixed rate ends in June next year, and I'm worried that interest rates will go up loads around that time and we won't be able to afford to pay it! You have a problem in that interest rates are likely to be higher in 3 years time, but also the luxury of knowing all this right now -as I didn't 2 years ago- so you can focus all your effort on paying as much as possible.
Have you written your speech yet to tell the missus?

Morning

No speech written yet. I was going down the route of DMP, carried out the plan on CCCS website, which looked quite positive. I then thought I would do some research into DMP's and saw that a number of my creditors are likely to play very hard ball, probably seeking CCJ's, followed by Charging Orders (which puts my property at risk of sale).

So it seems to me that although entering a DMP may be a good step to clear debts quite quickly, I would be taking quite a risk re CCJs and, even worse, charging orders. I don't want to risk selling the property and having to move.

So I am now desperately thinking if there are other ways to rejig my money about to meet all of my outgoings. I don't know if it is possible to approach some of the creditors explaining the difficulties and simply asking for lower rates and perhaps a reduced payment for some time, and maybe leaving the horrible ones as they are for now.

I am so stressed with this right now, and I know I am probably not thinking as clearly as I need to, but so wish to get this sorted.

One thing is my travel costs should go down from £250 a month to £150 a month in October which is a good saving, but probably not enough when the Virgin goes up next month.

I was trying to see if there was any way of clearing Virgin card, then doing a re-shuffle when they offer a good rate again (which they often seem to do).

Sunnylooloo

Hi DWD

sorry you are back on a bit of a downer (it is a bit of a rollarcoster ride!!) I really am not sure about charging orders or CCJs (apart from what I sent you). All I can say from own experience for nearly 10 months I have not had a CCJ issued nor a charging orders. Are charging orders only issued if the loan is a secured loan?? (Can someone confirm that for me??)

In my own experience I don't personally think it would hurt approaching some of them and explaining? I am not sure what other people think? Again if you do go on an arrangment it will effect your credit rating still.

Anyway this will give you a little bump so somone else can give you some advice.

I'm not about much today but please try not to worry too much

take care
LL