And begin...

sunnyface

Edited: 15/7/11
OK so trying again now.

I'm in pretty horrendous debt and absolutely have to sort this out.

I completed the forms at CCCS which basically told me that I couldn't actually meet my payments by a pretty long way (which explains why I was running out of money halfway through the month every single month).
So, it appears that I have no choice but to enter into a DMP.
I didn't want to do this as I'm really worried about my credit rating and would be hoping to move house in a few years as we are very short on space. But, needs must when the devil drives and all that. I don't really have a choice.

So now I'm waiting for the paperwork to come through. I opened a new bank account yesterday so that's the first step. I am so determined to make this work - I can't cope with the sleepless nights any more and I owe it to my kids to have a brighter future not ruled by the black clouds of hopeless debt.
I feel sick when I think about how much money I have paid on these credit cards to get nowhere so I am never ever buying anything on credit ever ever again - credit is evil :mad:

Anyway, thanks for reading and I'm going to be making a lot of use of this forum to help me get by on my budget for the next (estimated) 5 years. It's going to be hard but I'm actually feeling very relieved already that there's a way forward, even if my credit rating is shot to pieces.

So this will be my diary - starting today 15th July 2011 with a total unsecured debt of £45,044



OK - today I've realised that things are pretty bad.
I have £30K on credit cards and about £10K on overdrafts :eek:.
Tonight, I've done a rough budget and started some money saving measures (cancelling sky, downgrading mobile phone packages, cancelling gym membership etc) and today I attempted to obtain consolidation loans and was knocked back 3 times.
Tonight I'm going to attempt to shuffle some of the cc totals around on balance transfer deals.
Other than this, I don't know where to go next, but somehow, I need to get out of this disastrous situation - wish me luck

beanielou

Hi & welcome to MSE
Wishing you lots of luck.
Dont apply for any more loans at the mo as its not good to keep applying for credit & impacts on your credit score.

sunnyface

Copied post into OP :j

sunnyface

beanielou wrote: »

Hi & welcome to MSE
Wishing you lots of luck.
Dont apply for any more loans at the mo as its not good to keep applying for credit & impacts on your credit score.

Thank you - I did mean to reply to this at the time but must have forgotten

nonnie44

Goodluck Sunnface, hopefully tonight you might get a half decent sleep and I'm sure loads of people on here will give you lots of great advice and keep you motivated. I think doing the dmp must be the hardest part so congrats on that and I look forward to seeing how your journey goes!

Hovel_lady

Hello, just dropping in to say hello and wish you luck.
You're not alone with it - loads of people on here to help and support you xx

sunnyface

Thanks for the welcomes - I can't admit to any of this IRL so it's really nice to have it out there on a forum. Have started reading other people's stories too - inspirational. Looking forward to getting out of this hole now.
And yes, Nonnie, I might finally manage to sleep easy at night

sunnyface

Getting myself all confused about bank accounts now - have asked on the DMP thread if my new bank account with Santander is ok even though I have an MBNA credit card.

I'm feeling more at peace now with the fact that I've been an irresponsible debt-builder and will now be totally blacklisted. It's not the end of the world - and in a few years everything will be totally different. At least I hope it will - I'm assuming I don't get taken to court by creditors who don't accept the DMP. Can't think about this though - it's just too terrifying.

sunnyface

Feeling really good today - received confirmation from CCCS that the DMP is now set up and letters have been sent to all creditors with offers. Now I just need to hope that they all accept.

DorsetGirl_2

Good luck with your journey

May2013

Well done on getting started...and good luck in achieving your goals x