Help!!

fairygirl1977

Giving this a go because I am at the end of my tether at the moment - feel like I have well and truly come to the end of the line! I have aprox £40,000 unsecured debts in credit cards and loans and car loan. I can no longer make the minimum payments on my debts and have contacted CSSS regarding a debt management plan. They have contacted me in agreement however this would still leave with me zero to live on and to basically enjoy life even on a short-string which I resent given the fact I work hard full-time.
I have a diagnosis of Cyclothymia (mood disorder), OCD, Depression and Emotionally Unstable Personality Disorder - all of which I am on meds for and have a CPN (who is useless incidentally!) and have also had inpatient voluntary stays in hospital.
I just wondered if anybody had any useful advice of how I can progress with things so that I still have money tp even buy clothes, potentially have a cheap holiday each year and bascially leave my flat each week!
many thanks all:A

lyndsey80

Hi,

Sorry to hear of your dilemma. I am with CCCS too and found it a God send!

I wouldn't be able to survive on my current salary (AND took a pay cut!!) so I work part time, do Avon and have just had a lodger move out after one year (painful but REALLY helped)

Are you able to do any of these things?

mr_bounce

First of all a holiday of any amount shouldn't be anywhere near any plans before the 4th year of any repayment strategy. Holidays are expensive and they are a treat which you could probably do with out.

What assets do you have that you could perhaps sell to pay off some of this debt (car maybe). This sum is quite big and it's all about doing as much as you can before you involve other parties who may not do the right thing.

My advice would be STOP borrowing, STOP spending and START repaying. Easier said than done I know.

dudley3012

Hi and welcome

There are many people here who have been in exactly the same position that you are in and will offer advice in due course. In the meantime I think that it may be useful for you post a statement of affiars here as people often have good ideas about where you can adjust your expenditure and make your budget go further.
I cannot post a link to it but I am sure that someone will soon

Good luck

Tixy

Hi fairygirl and welcome.

If you enter a DMP with CCCS then all your living costs will be factored into the budget you agree with them. There isn't usually sufficent for loads of luxuries but most people manage small amounts for entertaining socialising etc. Its certainly likely to be a huge change to the way you have been living, but most people who enter a DMP and have high debts have been living beyond their means.

Usually people find that there some areas in their CCCS budget that they can actually spend less than 'allowed' eg groceries and this gives them a little more flexibility on what they spend their money on.

It might be an idea for you to post a statement of affairs for people to be able to make suggestions as to what costs you could reduce and to make sure you do have enough in your budget for basic living costs. http://www.makesenseofcards.com/soacalc.html

Once you have been on a DMP for while you will find you get used to finding ways to go out and do things whilst spending a minimal amount of money. Going out doesn't have to mean spending the day clothes shopping or going on holidays etc. Overtime on a DMP most people find their attitude to money and 'needs' does change a lot.

snookey

Hi have a look at martains guide for people with mental health issues and debt. Also have a look at the website Turn2us and see if your entitled to any help.

hillscrimer

No offence, I empathise towards your mental health issues but I think you need to have a brief reality check.

I can understand the not wanting to live on a shoe string budget but in all fairness over the previous years you have lived way beyond your means, and as with most things in life this has to be balanced out.

I don't have any debts but I'm saving like crazy at the moment so I know what its like to live on a shoe string. And firstly, the idea of a cheap holiday, no matter how cheap, is out of the question for me, so in all fairness it should be out of the question for yourself. There's really no such thing because "cheap" is still at least a few hundred pounds that can be better spent on more important things.

Money can be saved all over if you really try, I've managed to cut costs by £300 per month just by A. shopping at budget supermarkets instead of the main ones. B. buying only necessary clothes and even then, only paying less than £10 per item when needed.

I've found having a goal really helps. Being debt free isn't enough incentive in my opinion. What you should do is when you are debt free, you should give yourself a reward to look forward to for achieving it, eg. holiday (a good one as well to really give you incentive)! Things like that always work for me.

FOURCANDLES_2

Could you not go bankrupt? not an easy solution but will sort you out.

dancingfairy

Hi - firstly is a dmp the right solution for you? are you able to pay it off in a sensible period of time or might an IVA or bankruptcy be more suitable?
Secondly what do you mean they won't let you have any money to yourself? I would have thought CCCS would let you have a small clothes budget, a small entertanment budget, holiday budget, emergency budget etc.
Without seeing what you propose and what CCCS have said about it it's hard to comment on specifics but if you aren't getting on with CCCS why not try National Debtline or your local CAB?
You can also post the figures up on here and people will advise you on your best course of action.
Best of Luck
df
I presume you mean CCCS and not some other company with a similar name that might be trying to make money out of you?

Culex

Didn't CCCP go bust some years ago?