Frightened, telephoned CCCS

FavDaughter1

Hi, big hug, it takes courage to face up to the problem:).

we went to the CAB 1st (our "mess" blew up in my face when i tried to pay with my card& it failed,hubby had got into a huge mess,loans etc i knew nothing about until that point:eek:).

the CAB told us about IVA's. things aren't easy but we are budgeting well. things are so,so much better now than they were last year. it was v stressful with contact from creditors while getting it set up but it was worth it.

you need to ring a few IP'S up,don't pay up front fees,use the link to help you&post here,others will post feedback about who you talk to.

another big thing is you need a basic bank account- away from creditors if you owe things like a overdraft, that way you protect your income from being swallowed up! we went to The Co Op - no problems at all.

i felt sick,had panic attacks,upset tum,etc etc, the stress was awful but things are better now. take heart,you're not alone& you can get help to sort things out,hug x

Nargleblast

Monkeysox, well done for taking the first step to debt freedom.

While you are waiting for that telephone appointment, get yourself a new bank account somewhere that you don't have any loans or credit cards with. Ask for a current account, no cheque book, no overdraft, usual standing order and direct debit facilities and a debit card - if you have not already defaulted on any debt repayments then you should be granted a debit card. If however the new bank does not give you a debit card they will give you a cash machine card, and you can always apply for a prepaid credit card (there are a number of them on the market) where you put money on it and spend only up to that amount, but that is something you may want to consider further down the line. Of course, you need to destroy all existing credit cards immediately.

Also start getting all your financial documents together - at least 3 months payslips, your latest P60, bank statements, utility bills. It all helps to have this stuff to hand when you are on the phone. The organisation you mention is a reputable one (it's the one I am with) but you are not obliged to go with them, there are other firms doing IVAs as well. Just steer clear of any firm that asks for money up front - they will merely introduce you to a proper IVA firm and take money off you for the privilege of doing so! All IVA firms charge fees, but the fees are included in the repayment plan and are much the same whichever firm you go with.

Good luck - the adventure starts here and the road to debtfreedom is ahead.

FoggyBrain_2

Nargleblast is spot on there. It's always a good idea to speak to a couple of firms, you will be working for them for around 5 years !!! Have a look at https://www.iva.com where you will find reputable firms listed with reviews. Don't go for any of the firms with the "it's too good to be true" catchlines that you see on TV or pop ups on t'internet ..... 9 times out of 10 they are (pretty aggressive salesmen and ) introducers to the real companies.

Monkeysox

Hi,

Thanks FavDaughter1 and Nargleblast for the support and words of advice.:j

OH and I opened new bank accounts at the Co-op today, no singing all dancing ones, just cash minders with a visa card. I felt a little better after doing this, as if we've acknowledged that we do have a debt problem and we are on the road to being debt free eventually.:j

Big hugs to everyone to have posted, all help, advice and support is welcomed with open arms!:grouphug:

xxxx

Nargleblast

Ok, Monkeysox, you are on the road to sorting out the debts and I am sure you will enjoy the challenge of living to a budget once you get your head round it. Bring it on!

FavDaughter1

Nargleblast is spot on, now that you've faced the problem you can move forward & get yourselves sorted out, admitting you have a problem is probably the biggest part of this.

post as often as you need to,it really helps to know you're not alone & read up as much as you can it'll help you when deciding who to use.

big hug x

AlyBaly

Welcome to the forum Monkeysox and a huge congratulations for taking the step to deal with your debts. As neither of you deal with money there is no need to make your employer aware of the IVA.

Hubby entered into a TD (scottish equiventant of IVA) 2 and a half years ago so a year to go. I cant say it was easy at first as living without credit is scare at 1st but do you know what , its the best thing we have done and I see a chink of light at the end of the tunnel.

My advice to you is to be very organised, check your bank daily, only buy what food you truly need and get involved with the many challenges on this site. The support here is fabulous, nobody judging you just everyone chipping in to help in what ever big or tiny way they can and best of all we are all in the same boat or been in the same boat.

Keep posting and please dont be frightened , you have done the frightening part , thats taking that 1st step it can only get better .

Aly

Monkeysox

Hello AlyBaly,

Thank you for your post and kind words.:j

When OH and I opened our bank accounts in the Co-op, the advisor was shocked when I wanted to open 5 accounts! Her words to us were, "your very organised". Both OH and I looked at each other and thought "if only you knew"!

I've started budgeting already. As well as the bank accounts, I've even put together a spreadsheet detailing all of our spending. I've allowed us a food and petrol budget every week and we must stick to it no matter what.:rotfl:

By the end of this month, I'll be able to see just where our hard earned money went!

I'm a little worried about our telephone appointment on Friday, I'm nervous, frightened and have not been sleeping well! In my heart, I know OH and I are doing the right thing.

IVA forums members have posted us some great advice and have been so welcoming, I do feel so much better knowing there are people to speak to in the same boat as us!


xx:grouphug:

judojub

Good Evening Monkeysox

Well done to you for taking the first steps towards dealing with things. I felt exactly the same as you when I first started out which was only a couple of months ago.!
You will be absolutely fine. I had my initial phone call with CCCS and they couldn't have been more helpful or understanding (especially when I had a bit of a wobbly and blubbed down the phone line for about 5 minutes. lol)
Please keep us all posted on how things progress for you and as you have already found, there are many great peeps on here that will help and advise you along the way too!
Best of luck hon x

FoggyBrain_2

You'll find the folks at CCCS are easy to talk to and I am sure they will put you at ease. You'll be OK :0)