Just needed some support

boblardo

Hi All

Been lurking on this forum for a while and occasionally post but just recently I am starting feel down about the whole debt think

As of Feb 09 my wife and I had 11 creditors and our total debt was more than £60K. We were on a dmp with CCCS which was plodding along nicely even though we knew it would take over 17 years to clear our debts.

Earlier this year my wife decided to return to work and took a part time role. Luckily my parents are local and are happy to do the morning school run to help us out.

We have taken over the management of our DMP, meeting all the agreed payments regularly and where possible increasing payments. Over the past 3 months we have reduced our creditors down to just 4 and the plan is to reduce them further to just 2 by the end of this year. Although the total debt reduction will be around £4K!!!

We have already cut out so much but due to a change of circumstance my job has provided me with a Car Allowance and I am required to have a car appropriate for the role, so reliable, in good condition etc and no more than 5 years old. (i used to have an 11 year old megane). Managed to obtain some car finance which is £210 per month which is affordable due to the car allowance. We are still meeting all of our agreed payments and even coming to some payment arrangements with 2 of the last 4 creditors to help get them paid off quicker.

We really started to feel in control again and while we don't have lifes luxuries we are able to enjoy life, recently we went to a museum with the kids and had a great time.

Yesterday, Direct Legal Collections called and made me feel like a loser again. I currently pay them £142.50 per month and have been for the past 18 months. They are our biggest creditor and come Jan 2010 we are going to increase payments to £500 (haven't told them yet) which will help us pay our debt off in just 5 years.

We considered bankruptcy and an IVA but have tackled this head on and all we get is grief from this one creditor. Other creditors are proving helpful and can see we are making a massive effort to pay our debts off.

I am doing all I can and having paid off 7 creditors already we are doing amazing but occasionally, just occasionally we feel like giving in.

Rant Over

Thanks in advance

Bob

saltnvinegar

Hi Bob

First off a real big well done on tackling this head on and dealing with it, it takes a lot of courage and you've done really well so far

:beer:

Don't let this one creditor get you down as thats exactly what they want. I would recommend that you don't speak to them on the phone again and if they call you just ask for all correspondance to be put in writing. They will be reluctant to do so as that takes away the their ability to harrass and their biggest leverage.

If you are being reasonable and responsible by tackling your debt head on and are making reasonable payments that is the most you can afford and your other 6 creditors have accepted and are being reasonable then this places DLC in a very awkward position and they know this!

They would have a very tough time taking you to court as a judge would take a very dim view of such action taking into consideration the payments you have been making and your other 6 creditors accepting.

Again they know this so the only real power they have is to call you up and harrass so you get down and agree to something you really can't afford.

You should be proud that you are paying off such a debt mountain in such a short amount of time and not be feeling down about it.

Don't give in you're doing really well :T

SNV

CCCS_Sue

boblardo wrote: »

Hi All

Been lurking on this forum for a while and occasionally post but just recently I am starting feel down about the whole debt think

As of Feb 09 my wife and I had 11 creditors and our total debt was more than £60K. We were on a dmp with CCCS which was plodding along nicely even though we knew it would take over 17 years to clear our debts.

Earlier this year my wife decided to return to work and took a part time role. Luckily my parents are local and are happy to do the morning school run to help us out.

We have taken over the management of our DMP, meeting all the agreed payments regularly and where possible increasing payments. Over the past 3 months we have reduced our creditors down to just 4 and the plan is to reduce them further to just 2 by the end of this year. Although the total debt reduction will be around £4K!!!

We have already cut out so much but due to a change of circumstance my job has provided me with a Car Allowance and I am required to have a car appropriate for the role, so reliable, in good condition etc and no more than 5 years old. (i used to have an 11 year old megane). Managed to obtain some car finance which is £210 per month which is affordable due to the car allowance. We are still meeting all of our agreed payments and even coming to some payment arrangements with 2 of the last 4 creditors to help get them paid off quicker.

We really started to feel in control again and while we don't have lifes luxuries we are able to enjoy life, recently we went to a museum with the kids and had a great time.

Yesterday, Direct Legal Collections called and made me feel like a loser again. I currently pay them £142.50 per month and have been for the past 18 months. They are our biggest creditor and come Jan 2010 we are going to increase payments to £500 (haven't told them yet) which will help us pay our debt off in just 5 years.

We considered bankruptcy and an IVA but have tackled this head on and all we get is grief from this one creditor. Other creditors are proving helpful and can see we are making a massive effort to pay our debts off.

I am doing all I can and having paid off 7 creditors already we are doing amazing but occasionally, just occasionally we feel like giving in.

Rant Over

Thanks in advance Bob

Hi Bob

It sounds as though you have really started to take control over your finances. You mustn't give in now!

Don’t let that one phone call make you feel disheartened.

Try not be pressured into paying more than you can realistically afford.

Stick to the payments you can afford until your circumstances change.

If these creditors start to ring you up all the time demanding more money, and you feel harassed, then you could ask them to remove you from their telephone database and contact you by writing only.

Send the letter recorded delivery and keep a copy for yourself.

I have attached a copy of a letter you could use:


To whom it may concern


Dear Sir/Madam

I am writing to ask that you no longer contact me by telephone as your calls are causing me considerable stress due to the frequency, and that they are being made at inappropriate times. Please remove my telephone number from your database and send all future communication in writing to my home address.

I have provided the most recent copy of my income and expenditure to make you aware of my current financial situation. I will continue to make my payment of x on the x of every month and will keep you informed of any changes in my circumstances as I am keen to resolve this issue as soon as possible.

I understand that following this request if you continue to call I can contact the Office of Fair Trading to make a formal complaint.

Please confirm in writing that your records have been amended.

Yours sincerely

Hope this helps!:)

Kind Regards

Sue

Broken_hearted

Well done on leaving CCCS they are hopeless most of the time and work for the creditors rather than the debtor. Running your own DMP will give you the power to get debt free faster.

boblardo

Thanks to everyone for your post so far especially Sue

with regard to the CCCS, i would recommend them to anyone at least for a chat. While the DMP initially suited my circumstance in the long run it wasn't for me and i am happier not being with them.

Not being with CCCS enables me to pay off smaller creditors and gradually increase payments to the larger ones

Thanks again to all that have responded i am starting to get my groove back