Wide Awake & Worried

Tottonian

Morning all, joined up this forum late Jan 2011 with a post https://forums.moneysavingexpert.com/discussion/3008618 explaining how I had got into my mess, just woken up for no reason really worried & haven’t done that for a while, think it’s because out of all the companies that I have written to & explained what difficulties I’m having only 2 still have not got back to me excepting this & that I cant make full on payments, HSBC & MBNA/Virgin keep phoning me 2-3 time’s a day, to start with I did answer the phone but as we have caller display I don’t bother any more as I have written 2 letters each both sent recorded delivery explaining why I’m in difficulties & a copy of my SOA, the 1st couple of times they seemed ok & MBNA/Virgin had got my SOA & went through a “Financial Hardship Scheme” with me on the phone, I explained everything to them as the caller had all the information in front of them from the letter but after going through this she said it could take some time to go through, that was 7 weeks ago & both MBNA & Virgin (AS I have a credit card with both but are 1 company) are still charging me interest & asking why I’m not making the minimum payments, this is the same with HSBC (Overdraft & Loan). I did set up a direct debit with all the companies & pay each a payment I can afford including HSBC & MBNA/Virgin.

I am starting to pay back family & friends, made cut backs, got a minimum package with virgin media (phone/broadband) had a gas & electric card meters put in, car share where we can, work overtime & have a 2nd job & pay the mortgage on time, I’m starting to enjoy life again but do worry why these 2 companies don’t give me a break for 6 months like the others, I’m hopping to set up some sort of repayment scheme soon (Who should I go with :undecided ) & hopefully in a few years my debts would of gone down some what.

Tottonian

rugbymum

Hi Hun
Firstly, DON'T answer the phone to these guys, they are simply NOT worth it. If they ignore the "phone only" letters then you need to too take it to the nex level. You are paying what you can so stop stressing. Go to bed and sleep. Many more with information will be along shortly.
Take care and don't let the bu**ers get you down.
Hugs
RM

anasmith52

Thumbs up to rugbymum. You can't do anything by worrying. You are draining yourself if you worry too much. Just do what you one day at a time.

Triggles

Tottonian - I notice you said one is an overdraft. If you are still banking with one of the companies that you owe money to, you might want to consider switching to an account with a bank that is not affiliated in any way with any of your creditors. This way you stop the risk of "offsetting" to put towards your debts.

mikethesaint

Hi Tottonian,one of my largest debts was with MBNA,and youre right they do really hassle you,however after about 6 months i was offered a partial settlement of £10,000 against a debt of £15,268,i explained no way I could pay etc they said try to get it from friends and family,I called them back as got a tax rebat of £4000,offered £1500 they almost laughed at me,but called me back to offer again but this time at 7500,i offered £2000,they came down to £6000 I offered £2500 etc in the end they offered £4200 partila settlement with no further chasing or selling of the debt,I had just sent next payment on dmp so cheekily called them back and got them to take that off of £4200,so with a bit of haggling they normally come down quite a lot i eventually settled at £4088,ssecret is not to tell them you already have the money,it has to be from another source! Hope this helps

cheesedoffwithdebt

I am surprised MBNA have taken that stance. They do have a department who can set up an arrangement with you and they will let you know whether what you are able to pay meets their minimum requirements, if it doesn't, then they may eventually take action like a CCJ to secure the debt.

Rather than being defensive with them could I suggest you ask to speak to someone who can actually agree such an arrangement, and then see where that gets you?

But you do need to get some advice- I know everyone says ignore the calls etc, and to a certain extent you need to ignore the element of harrassment that goes with this situation but at the end of the day these companies will pursue the debt to cover their situation, so you do need to make arrangements that are acceptable- that is your next stage really.

I would advise you to go to Christians Against Poverty- you don't have to pay them any fees -and they will advise you which debt repayment route is the best for you, using the basis that it is not reasonable for you to be repaying debts for several years. They will give you an honest response-I find that alot of the other free advice centres will let you have a debt management plan for many years, and not give proactive advice at all, CAP will also visit you at home, their website is https://www.capuk.org- I don't work for them nor am I a client of theirs but I do know they are entirely honest which is really what you need at the moment.

FOURCANDLES_2

cheesedoffwithdebt wrote: »

I am surprised MBNA have taken that stance. They do have a department who can set up an arrangement with you and they will let you know whether what you are able to pay meets their minimum requirements, if it doesn't, then they may eventually take action like a CCJ to secure the debt.

Rather than being defensive with them could I suggest you ask to speak to someone who can actually agree such an arrangement, and then see where that gets you?

But you do need to get some advice- I know everyone says ignore the calls etc, and to a certain extent you need to ignore the element of harrassment that goes with this situation but at the end of the day these companies will pursue the debt to cover their situation, so you do need to make arrangements that are acceptable- that is your next stage really.

I would advise you to go to Christians Against Poverty- you don't have to pay them any fees -and they will advise you which debt repayment route is the best for you, using the basis that it is not reasonable for you to be repaying debts for several years. They will give you an honest response-I find that alot of the other free advice centres will let you have a debt management plan for many years, and not give proactive advice at all, CAP will also visit you at home, their website is https://www.capuk.org- I don't work for them nor am I a client of theirs but I do know they are entirely honest which is really what you need at the moment.

She needs to make a payment which is acceptable and affordable by her not the company , she needs to do it all by letter as it is her only proof of what is agreed. I f she asks to speak to a person who can agree a payment the operator will simply say "you speaking to her" you I am afraid need to appreciate as I did when my friend asked me to help him with debts which is
They want all the money Now no excuses, their roll is to get as much as possible before other creditors ..
I would also suggest pushing some type of Christian angle is neither the route to go down .

Tixy

FOURCANDLES wrote: »

I would also suggest pushing some type of Christian angle is neither the route to go down .

Chrtistians Against Poverty is one of the places officially recommended on MSE to seek advice on your debts (along with others of course). The advantage of them as 'cheesed' has said is that they will visit a person in their home, which some people find easier than having to visit a CAB centre or do everything by phone.
Whilst the advisors may be Christian, the religious focus is why they help people not how they help people, anyone of any or no faith can seek help from CAP.

Tottonian

Triggles wrote: »

Tottonian - I notice you said one is an overdraft. If you are still banking with one of the companies that you owe money to, you might want to consider switching to an account with a bank that is not affiliated in any way with any of your creditors. This way you stop the risk of "offsetting" to put towards your debts.

Swapped over from HSBC to Santander at the end of Jan 2011, HSBC did not wat to know about are problems & for months we were trying to talk to them to help us out :mad:.

FOURCANDLES_2

Tixy wrote: »

Chrtistians Against Poverty is one of the places officially recommended on MSE to seek advice on your debts (along with others of course). The advantage of them as 'cheesed' has said is that they will visit a person in their home, which some people find easier than having to visit a CAB centre or do everything by phone.
Whilst the advisors may be Christian, the religious focus is why they help people not how they help people, anyone of any or no faith can seek help from CAP.

Appreciate that, However as with any religion we have the chance of taking advantage of an individual when they are at their lowest point , to assume this will not happen because they are permitted on the mse forum is a little gullible .Again I say that in the hope 99% do not.

Tixy

FOURCANDLES wrote: »

Appreciate that, However as with any religion we have the chance of taking advantage of an individual when they are at their lowest point , to assume this will not happen because they are permitted on the mse forum is a little gullible .Again I say that in the hope 99% do not.

I didn't say that they should be used because they were permitted on the mse forum, I said they are specifically one of the places recommended by Martin and the MSE team. So for you to knock down another poster for suggesting them, stating they are trying to push some christian angle on this person did make it appear that you didn't appreciate that the organisation helps people of all faiths and no faith.

The important message to any new poster is that there is lots of free advice out there and that there is never any need to use commercial DMP companies who will charge fees and keep people in debt for longer. I would suggest it is those organisations who are preying on people at their lowest and most desperate point.