The start of a long process

time-4-a-new-start

massey wrote: »

Hi
I am with CCCS and they have been great, it is the best feeling when the phone doesn't keep ringing from creditors demanding more money off you. My debt was 78K and have reduced it down to 61K this is a wonderful feeling. i picked up ccj's on the way but again only pay back what you can afford all my creditors stopped the interset and charges.
my advise to you would be to move all your accounts out of the bank that you have a creditor in then you will have some piece of mind and not worrying if they are touching your money.
You have completed the hard bit by admitting that you can't afford the payments to CCCS and once you have made that first payment to the CCCS and your creditors get a payment you will find that they stop hassling you and if they ring just tell them you are dealing with CCCS and give them your CCCS client number for them to ring

Thanks Massey

As I mentioned above, I am happy to move all my accounts from my main bank, however the share account is the big problem. I cant sell my friends shares now and then move the money, as if the shares go up I will be liable to find the rest of the money.

And as I wont be able to get finance for a while I could have a very annoyed friend, especially if the shares jump a lot in price!

Even if i sell the shares, take out the money and then buy more shares for him, i will only be able to buy £800s worth. While they will be at a lower price to buy today, there is still a difference of £2200. So the shares will have to tripple in price to cover the missing money.

This is a complete mess

DrakesheadLabs

Hi there. I am in the same position as you and doing my best. I separated 18 months ago from my husband. Thereafter, my spending has gone out of control. I am £34K in debt and dont really know where to start but am pulling in the horns. Overdraft, loan(s)!! Credit card are all bad but one day at a time for me just now and watching what I spend. I went holidays, bought clothes until my wardrobe was bulging!! I had to see an IFA and it was terrible for me as I got upset and very ashamed of myself but they guys/women have experience in that field and nothing shocks.

time-4-a-new-start

DrakesheadLabs wrote: »

Hi there. I am in the same position as you and doing my best. I separated 18 months ago from my husband. Thereafter, my spending has gone out of control. I am £34K in debt and dont really know where to start but am pulling in the horns. Overdraft, loan(s)!! Credit card are all bad but one day at a time for me just now and watching what I spend. I went holidays, bought clothes until my wardrobe was bulging!! I had to see an IFA and it was terrible for me as I got upset and very ashamed of myself but they guys/women have experience in that field and nothing shocks.

Hi DrakesheadLabs

Are you looking at a DMP plan too?

worried1969

time-4-a-new-start wrote: »

Hi worried1969!

Glad that someone is starting this at the same time as me. I would be deligthed to offer my support anyway I can to hopefully help both of us get through

Thanks, just read your post about not telling your partner, i was the same also and only told him last week when i had contacted CCCS and decided to take the bull by the horns and try and sort this mess out!

He was obviously shocked and still trying to get his head around the figure but has been great about it. Unfortunately out of the 5 creditors 4 are in his name only which makes it worse as it was me who got us into this.

Not sure what to suggest about the shares that are not yours perhaps you should get advice from CCCS and see what they think is best?

time-4-a-new-start

I think there is a way round the share thing.

Spoke to a few traders who said you are able to move shares from one broker to another. There might be a charge for this so at the min I am looking into this.

The only remaining issue is the joint savings account. Can a bank go into an account that is in joint names to set off debt?

time-4-a-new-start

Hi Everyone

Just to give you a status update

I applied and have set up my DMP. All of my creditors, bar one accepted the DMP and so far I have made two payments into my DMP. The creditor who didnt accept has been sent the two payments as the others and to date hasnt chased me anymore (though its prob still early days on that!)

I know its going to take a very long time to sort this mess, but at least im the the right road now.

time-4-a-new-start

Hi Everyone

I just wanted to give you a quick update on my DMP and also ask for some advice.

I have now been in my DMP for the past 3 months. The majority of my creditors agreed to my DMP, bar one - the Halifax. Which was weird as I have a few other accounts with the Halifax and they accepted my DMP repayment plan. However the CCCS have continued to pay them each month.

Everything was going ok bar the odd phone call. But today I received a letter from Halifax saying

Important Notice
Our representative will be calling your home on:...
Please telephone 0485 300 0580 if this is not convenient.

Firstly I dont know what they mean that their representative will be call my home? Does that mean a phone call? Or does it mean someone will be physically knocking on my door?

As you would imagine Im now worried, so I wanted to ask if anyone has ever received a similar letter and what their threat actually means?

thanks