Grrrr...why did I bother!??

Devontrish

Well, I guess I should start by introducing myself properly and telling my tale...before I start to rant!
I am a long term lurker on here and have been helped no end by all of your stories, so thank you to everyone that has stopped me from going over the edge, and actually getting somewhere with my debt management!
Married twice, divorced twice, 4 kids, 2 jobs, went to uni as a mature student...and thats where it all went horribly wrong! Fortunately I have managed to get rid of most of the debts that I managed to drum up, originally I was with a debt management company who advised me to go bankrupt at the time, but I chose the harder path...after all I got myself into this mess, I take full responsibilty, and I will therefore repay every penny that I owe!!! Actually over the past 5 years since finishing uni, I have repaid at least 4 debts!!!:T
My 2 biggest debts are with LTSB, a credit card which currently stands at £8,605.40, and a loan which is around £12,000 (originally they were £10,000 and £14,000 respectively so I have made a very small dent in them!) I obviously also have a student loan, but as I earn just under the £15,000 mark I currently don't pay anything to that. I have just £140 left to pay of a £700 store card (finishing that in the next 2 months:)), and then I will be working on getting rid of my £2,000 over draft...boy will my bank be surprised:rotfl:!!!
Time for rant...LTSB!!!! I know by reading on here that a lot of people have problems with them. My loan is now fixed at £100 per month interest free...I struggle at times, but it gets paid! However, the CC was orignally an interest free formal agreement, which lasted for around 2 years, where I was paying £20pm. The agreement then ran out, and they placed me on an informal agreement for 9 months. Little did I know that every month I would receive letters saying I hadn't been paying the full amount I needed to...phone call every month..."ignore the letter"...then this morning I get a Solicitors letter! I rang the number, and they said I still have another 3 months of the informal agreement before the debt gets passed on to the debt management dept!!! So I now have default on my account for the past 6 months, even though I have religously been paying the agreed £50 a month (I got another job, so felt it only fair to increase my payments).

Grrrr to the fact that I was not informed that I would end up defaulting even though I was paying the agreed amount...and what can I do??? Nothing! Wait another 3 months for the debt to be passed on and then go through the whole process all over again! By which time I will only have 3 months left on my main job, with zero chance of it being renewed, and because I work for the council I am still unsure about my other job!

I don't do stress but there is no one at home to moan to so thought I would let you lot have a bit of my tongue wagging!!!:rotfl:Sorry about that guys, but I have actually been intending to start a diary for months...and I guess I just did!:) Thanks for listening...I feel better now:beer: xxx

winner12

Hi there
Had same from the lovely Horse people on a 9 Month plan (must of been something they thought up at a meeting)this is due to finish in November had all the letters including the same solicitor all in house of course but if its any help pay what you can afford send them a new SOA with your new offer and see how it goes you have nothing to loose even if its £1 you are showing that you wanting to clear your debts

HappyMJ

I think they recommended BR as your income is very low compared to the debt you have. I think you didn't want it because as a uni graduate you should be paid so much more so it will all resolve itself eventually once the training period is over. Well done for choosing the harder path. I wish you well.

Devontrish

Thanks winner! I can manage payments at the moment, thats not really the issue...I was just hoping that I may be able to get through all this without any defaults...hey hum I was wrong!!! Oh well I have managed on zero credit for for past 5 years I am sure I can cope for the next 20!!! Rolly eyes!!!

Devontrish

Thanks happy! I did my degree in Education Studies, with the view to go into teaching, but chose Youth Work instead...thats never going to pay a lot, but job satisfaction is all I need!

winner12

Hi
I think the defaults has I have found are part and parcel of debt, even if only 1 defaults you the damage is done I have 5 creditors and 2 defaults to date so why some default and some dont is luck of the draw maybe someone with more knowledge on Defaults could advise