I am a debt clich!

Tixy

Have you given them your debit card details already? if not I would suggest that you don't - as some of the more unsavoury debt collectors have been known to take more money than you agreed to, or take out subsequent payments that you didn't agree to.
The preferred way of paying a debt collector is standing order - as you are in control of how much is paid and when you stop payments (unlike direct debit), or by cheque or ask for a paying in book.

sparklysaver

:wave: Hi Richard

If you haven't read it already, there's a really good guide to mental health and debt linked at the top of this forum, it might help you realise that you're not alone and that there is a safe and sensible way out of this.

I don't have much to say on the subject of your debts because there are others here who can do that much better than me, but I just want to say that I know how hard it can be to deal with when you just feel that nothing you're doing is helping the situation, but it can and will get better. Are you getting any medical help with the depression? It can become a vicious circle when you're in debt and depressed, with the depression making the debt worse and vice versa.

Do you have anyone offline that you've talked to about any of this? Dealing with it alone can be really hard, there are loads of people on here to support you though.:)

Good luck with it all, and please don't ever think that money is any sort of reason to end your life, there is always another way out of any situation, however desperate you feel.

pmlindyloo

Hi

This is a fabulous place for getting help with your financial situation and people will give you lots of suggestions.

However, without minimising the support you will get from this forum I would second the poster who suggested you contact someone who will help you look at the whole picture.

If you have a read of this link

https://forums.moneysavingexpert.com/discussion/2077631

you will find the organisations who can offer you free advice.

In your circumstances I feel you would benefit from someone looking at the whole of your circumstances and not try to tackle individual debts because certain creditors are harassing you.

Let someone help you and take some of the stress away.

There are many people on this forum who have sought help and found a way to manage their debt without it totally ruining their life.

Good luck.

Skint_but_Optimistic

Hi there, didnt want to read and run.

Debt collectors in my experience are bullies.

Deal with them in writing only, and tell them this firmly on the phone. They dont have the powers they claim to have in letters - check Direct gov website.

Best of luck with it all, its hardest to tackle all this in the beginning but it will get easier.

As for the depression issues, could you see if your GP will refer you to a counsellor?

EssexHebridean

Hi Richard - well done for taking the situation by the throat and giving it a shake - that's the hardest bit over and done with!

Others have already put forward some useful ideas re the debt side of things. On the subject of the self-employment, I went self-employed last year and was absolutely terrified that I'd get in a muddle over the tax/NI situation. I wish I'd known then what I know now, there is really NOTHING scary about it! I subtract 25% of my earnings at the start of each month, as soon as my invoice value goes to cleared funds into my account, and put that straight away into a separate savings account - out of sight, out of mind. As a relatively low earner that 25% means that I am also saving a little each month as well, obviously you will not be in a position to do that to any degree. Take the average you expect to invoice in a year, subtract your tax allowance, then divide the rest by 12. Personally for "safety" I would round up to the nearest £10 or £20 over that figure and then set that amount aside every month for your tax etc. Your standard NI contribution gets paid throughout the year (but is only a couple of pounds a week) and your Class 4 gets paid with your tax. The HMRC do some excellent half day courses for newly self-employed people - I'd get yourself onto one of those if you can.

Good luck!

ps - ignore that student loan for the time being - it's just one more thing that you REALLY don't need to worry about!

Richard_28

The trouble is I have spent so much of my life living from pay cheque to pay cheque. Never once looking ahead to the bigger picture. Its a dangerous way to be and now its nearly killed me. I really wish I was exaggerating.

I AM going to get on top of this. And I am NOT going to pay what I cannot afford.

Babies steps grow into giant steps.

Little_Miss_Uni-Debt

Hi Richard,

Just wanted to respond to say it's a really good thing that you're on here. It certainly takes a huge step but you've done that now!

As you can see from the number of folks here, there are lots of us living from one pay-check to the next, so you're certainly not alone.

Debt and depression are so strongly linked, one goes into the next and then it cycles back round again. It's very much chicken/egg.

You've got to apply the brakes and come to a stop. This is done by not taking on further debt and addressing your situation (as you have done with your SOA) Then you can slowly start pushing to get things moving in the opposite direction. You can use planning ahead, budgeting, saving, cutting back and clearing cards as positive things to snowball in your favour

Your Argos card and Graduate overdraft should also be listed on your SOA.

I think once you have an overall payment plan or agreements for a couple of your debts then you will be able to see there will come a time when your pay check is your own and you'll have breathing room because of the hard work you put in

Is there any way you could perhaps do a car boot or clear out a few items to wipe out a smaller debt? It really does give a huge sense of progress!

Keep us updated!

Richard_28

Is there any way you could perhaps do a car boot or clear out a few items to wipe out a smaller debt? It really does give a huge sense of progress!

I have given that a lof thought but the trouble is I am quite a horder. I understand that must seem very connected to my current debt problems, And I guess it probably is.

But the truth is a lot of my possessions (My comic books, star wars memorabilia etc) have a LOT of personal memories attached to them.

I know that must sound soft and maybe even ignorant but as much as I want to change this situation. I refuse to lose what's very important to me by doing so.

sparklysaver

Richard_28 wrote: »

I have given that a lof thought but the trouble is I am quite a horder. I understand that must seem very connected to my current debt problems, And I guess it probably is.

But the truth is a lot of my possessions (My comic books, star wars memorabilia etc) have a LOT of personal memories attached to them.

I know that must sound soft and maybe even ignorant but as much as I want to change this situation. I refuse to lose what's very important to me by doing so.

It doesn't sound sound soft or ignorant. DELETED

Best of luck anyway, and let us all know how you get on.

Richard_28

Its just occupied to me that the woman from barlcaycard mention my payment protection the other day.

Is that worth investigating?