Debt managment gone wrong :/

bermuda16

After browsing the forum Im starting to feel a little stupid to be honest but if anyone can help me I'd appreciate it....
....myself and my husband got into quite abit of debt when we first moved in together, no money baby on the way, we had a loan and a couple of credit cards, consolidated them used them again as we weren't keeping up with it yadayadayada it basically spiralled out of control. We were advised by a family member to contact a company they had an IVA with to see if they could help. Turned out this company wasn't so great they messed us around and eventually messed our family around too. On the advice of a friend who had been with a different company for quite sometime (and we were getting quite desperate at this point) we entered into a debt managment scheme. (this is not something I wanted to do since at the time had heard nothing but bad things about dmps and didnt even know (doh!) that free ones exsisted I do feel really silly but we were desperate. It seemed the only solution and obviously the company made it all sound very attractive too) 3 years on and Im starting to see the cracks show. Im recieving letters from creditors stating that the balance is the same and in some cases higher! Our dm company hasnt contacted us in quite some time and its impossible to get through to anyone if we try. Im not sure whats going on or where to go from here. I know getting a credit report would show me what I owe to who but I dont have a debit card and unsure how to get one without? We (at the start) owed around 25k and I just dont see this ever ending. I feel like Im paying money (£200 per month) for nothing here, sleep is a luxury, my phone never stops ringing and I feel like Im trapped. I understand we got ourselves into this mess and it is us who needs to get ourselves out of it...but how? What is the best thing to do? I have children I want to build a future for, I want to do what I can to get rid of this debt. I thought stupidly I was doing that by paying into the dmp but clearly I was wrong.

Sorry for ranting if anyone can make sense of what Ive put and has any advice it would be greatly appreciated. Thanks.

DizzyDizzy

There are solutions, someone will come along in a minute who will know far more and can advise you; but I have heard of people being able to change their DMPs to a different company if they don't work out. Personally I am with the CCCS and can't recommend them highly enough, you could maybe try ringing one of their helplines and speak to one of their advisors? I have always found them to be very sympathetic. You needn't sign up to anything straight away.

topcat9

Hi Bermuda16,

So sorry to hear your situation. A DMP should save you from sleepless nights and endless phone-calls not add to them!! There is nothing to stop you moving your DMP to a company which does not charge, so I would definitely consider this (I'm with Payplan, others are with CCCS, I think National Debtline is another). Give one of them a call and go through the options - you have nothing to lose!

Also, you can get a copy of your credit report for £2 and you can pay by cheque (go to the Experian and Equifax websites for details of how to apply).

There is definitely a way out of your troubles with the help of the people on this forum. All the best.

Edit: DizzyDizzy - they say that great minds think alike. We must have been simultaneously typing!

bermuda16

Thank you both for your comments they are appreciated.:) I should have said this before sorry I dont have a cheque book either. When all this started the very first company advised me to get a basic account which is what both myself and my husband did. I wish I hadnt done this since now we cant get one is there anyway of getting a report without any of this?

Thanks again.

topcat9

You're testing us today ...yes you can pay by postal order!

bermuda16

topcat9 wrote: »

You're testing us today ...yes you can pay by postal order!

lol thank you!