It has happend......

PROLIANT

Hello people, well as per the title it has happened; I have been forced to find another job which pays £7,000 per annum less than my current job - I cant service my debt.

After just recovering from a poor credit rating in 2008 I have spent about 18 months with a half-decent credit rating, all to be undone over the course of the next few months as my accounts fall in to default.

I have always repaid on time, never ripped anybody off and now it has come down to this, am I stupid for feeling guilty that I can't repay the business that I owe money to?

Anyway, I have contacted Pay Plan to see of they can help, however without starving myself I can only squeeze about £100 per month to pay towards my debt(s), why am I posting this on here? Am I looking for sympathy or retribution of some kind who knows but hey...nobody is perfect. :cool:

penelopedee_2

Ok, I can offer a hug. You are doing the right thing posting here, someone will be along soon with some more practical advice.

You know there is a problem and you want to deal with it. Don't be too hard on yourself

Bosie

PROLIANT wrote: »

Hello people, well as per the title it has happened; I have been forced to find another job which pays £7,000 per annum less than my current job - I cant service my debt.

After just recovering from a poor credit rating in 2008 I have spent about 18 months with a half-decent credit rating, all to be undone over the course of the next few months as my accounts fall in to default.

I have always repaid on time, never ripped anybody off and now it has come down to this, am I stupid for feeling guilty that I can't repay the business that I owe money to?

Anyway, I have contacted Pay Plan to see of they can help, however without starving myself I can only squeeze about £100 per month to pay towards my debt(s), why am I posting this on here? Am I looking for sympathy or retribution of some kind who knows but hey...nobody is perfect. :cool:

Sorry to hear that Proliant, I remember when you started the sub-prime thread, which helped so much.

I've been helping a person I care for with a big debt with Aqua Card.
They have been very good, he does have mental health problems.
So after sending in proof of his illness and an I&E, they have given him a personal advisor! Also, frozen the interest and charges.
I'm sure if your creditors' can see you have been a good payer and are using Payplan they should help at this time.
Bo x

PROLIANT

penelopedee wrote: »

Ok, I can offer a hug. You are doing the right thing posting here, someone will be along soon with some more practical advice.

You know there is a problem and you want to deal with it. Don't be too hard on yourself

Cheers penelopedee, I feel quite a hypocrite posting my issues on here after all of moral high ground in the past about paying back what I owe etc and now the shoe is on the other foot.......

PROLIANT

Bosie wrote: »

Sorry to hear that Proliant, I remember when you started the sub-prime thread, which helped so much.

I've been helping a person I care for with a big debt with Aqua Card.
They have been very good, he does have mental health problems.
So after sending in proof of his illness and an I&E, they have given him a personal advisor! Also, frozen the interest and charges.
I'm sure if your creditors' can see you have been a good payer and are using Payplan they should help at this time.
Bo x

Aye aye Bosie, well here I am in financial ruine after working so hard to claw my way up....bloody hell it's a long way down :wall::doh:

Edinburghlass_2

Good that you feel able to post about it though, and I wish you well on this next journey.

fozmcfc

Oh, that's not good, I do feel for you as from your posts I see you aren't someone always trying to get out of paying.

I was very nearly in the same situation earlier this year. I spent the whole of 2009, saving hard and making real inroads into my debt. Then in November I got told I was about to lose about £9,000 a year off my salary.

The wranglings went on for 4 months and I had to drop everything down to minimum payments. Finally I got another job so I stayed on the higher wage. One thing it did do was made me realise even more that I should never ever live beyond my means again.

I really hope things work out for you as I know how it must be so disheartening after all those months of hard work. What you need to remember is you have done it once, so you can do it again.

Good luck.

stephane_2

PROLIANT wrote: »

Aye aye Bosie, well here I am in financial ruine after working so hard to claw my way up....bloody hell it's a long way down :wall::doh:

What you have to remember Proliant is that once you are all the way down and I know it is not pleasant then it can only improve. I have been in the same situation as yourself a few years back so I do know how it feels like but I always tried to stay positive about the all situation and I was certainly not going to let my lenders ruined my life. It was hard work, but few years ahead I am in a better financial situation than I have ever been for years.....

PARIS_5000

PROLIANT wrote: »

Hello people, well as per the title it has happened; I have been forced to find another job which pays £7,000 per annum less than my current job - I cant service my debt.

After just recovering from a poor credit rating in 2008 I have spent about 18 months with a half-decent credit rating, all to be undone over the course of the next few months as my accounts fall in to default.

I have always repaid on time, never ripped anybody off and now it has come down to this, am I stupid for feeling guilty that I can't repay the business that I owe money to?

Anyway, I have contacted Pay Plan to see of they can help, however without starving myself I can only squeeze about £100 per month to pay towards my debt(s), why am I posting this on here? Am I looking for sympathy or retribution of some kind who knows but hey...nobody is perfect. :cool:

So sorry to hear that can you just make the minimum payments for moment until you find another job.

Stay strong you will get through this.

simax

Hey PROLIANT, always been an advocate of your postings on here, and sorry to hear about your new circumstances.

Can't offer you any advice that hasn't already been mentioned, but just thought I'd post a man-hug your way

Chin up mate.

jon_boy75

you probably know this already, but contact each and every one of them and appeal to them to give you some time, perhaps a 6 month freeze

i know lenders dont tend to have sympathy, but they also wont want to incur the costs of administering bad debt, if they can help it

good luck