Hiding your debts? Think you can cope on your own?

Angry_Bear

Rochdale_Guy wrote: »

Thanks, but would CCCS and my creditors accept a paltry £57 between the five of them, I doubt it

Yes. That is the point of CCCS, they're not a creditor and don't try to force you into paying as much as possible. They take a realistic look at what you can afford and get your creditors to accept a portion of that. In most cases (not necessarily all), interest will be frozen so you will actually be eating into the debt. If your circumstances improve, you can increase your payments and reduce the term (or save to make settlement offers).

I can't urge you to call them strongly enough, you sound so depressed about your situation and the people there really can give you some control back over your life.

yenool

Rochdale_Guy wrote: »

I wasn't even going for that one, I'm halfway through applying for their basic current account:

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368595,CFSweb/Page/Bank-CurrentAccounts?WT.svl=nav3

As it has a cheque book, the Cashminder account doesn't, I need one!

Basic cashminder account is all you will get. You can still pay by card, do online transfers etc. Or give a friend cash and ask them to write a cheque (assuming you don't need them regularly).

Also, RG, I hope you get this mess sorted but a big part of me thinks you are either beyond help or trolling. Seriously, you were posting the same kind of stuff nearly 2 years ago: https://forums.moneysavingexpert.com/discussion/2509367

People have given you their best advice and yet there is always a reason why you can't possible do that or how it can't work.

If you are for real (and I'm sceptical) then IMO the only way to go is a DMP or bankruptcy. Both options will involve at lease a little embarassment, inconvenience and the painful reality of living within your means............ can't be avoided I'm afraid.... otherwise you are going to stay in this debt cycle till the day you drop dead of a stress induced heart attack.

rdchick

You have a brilliant memory Yenool!

Seems like Rochdale_Guy gets in a blind panic, runs around like a headless chicken, wants everyone to feel sorry for him and help him then ignores all advice and sticks his head back in the sand.

At the end of the day... we all have our crosses to bare and if you genuinely want our help we are here to give it but if you don't it's no skin off our noses if you bury your head in the sand at the end of it.

Would have been debt free in less than 18 years had you taken the advice of the guys on here last time - just sayin'

yenool

rdchick wrote: »

You have a brilliant memory Yenool!

LOL. I wouldn't say that :rotfl:

BTW I wasn't trying to be nasty with my previous post....... It is just that I genuinely can't figure this guy out at all.

RG look at it this way; if you had of taken all the recommended steps last time you would be a long way forward in terms of paying this debt off and sorting this mess out.... and yet you haven't! In fact you are still talking about getting this miricle 20k consolodation loan in your opening post *sigh*.

Low income + massive debts is not a recipe for happiness - short of a lottery win (could you afford the tickets?) there is no pain free way of sorting the mess out...... cars, chequebooks, holidays, etc, are all things that you cannot afford. (although if you did get on a DMP or BR you probably would be able to afford to live reasonably).

Loubylou2

How did you get on with CCCS RG??

Rochdale_Guy

Let me tell you I am 100% serious about doing this, this time.

When I posted last time, I bottled it and thought I'd be able to cope.

I am certainly not posting "for attention" and definitely not being a troll for ****s sake :mad:

I suppose separating from your loved one is also a cry for attention too?

Come on, I'm better than that.

This is ALL real. All this nasty stuff is going on right now, believe me its real and these are real pleas for help and assistance.

If you don't like that then I'm sorry. I have said it before, but I for one, regardless of what anyone thinks, am proud of the fact I want to pay back what I owe. With this loan, I would have cleared the lot in 6 years flat.

Still, you are entitled to your harsh opinions, its just you've now set me back a big chunk with those harsh comments.

I am not ashamed of any of my previous posts and have nothing to hide.

Sure, I've asked for help before - sorry for not taking people's advice back then, and yes, I would be 2 years better off having got my head out of the sand if I had listened - but I didn't, and I have to live with that.

And why, if the consolidation loan is so evil, did CCCS_Parvan himself say this:

Hi Rochdale_Guy and thank you for your post.
It’s difficult to say why a DMP is your best solution without looking at your situation in more detail. However, as you’ve already completed Debt Remedy we already have all your information and we can discuss this with you if you get in touch.

The consolidation loan could be a good idea if it still offered to you. You’re right that you’ll be paying more over the long term and you would need to ensure that you can comfortably afford the new repayments and that all your old cards are closed to get rid of any temptation to use them again.

Are you doubting the advice given by CCCS now?

Sorry for grizzling, but you've really touched a sore spot

(and I'm typing this at work, when I shouldn't be)

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Angry_Bear

Everyone on here has made mistakes, and everyone struggles to admit that they are really in crisis. The only thing you can do is deal with things as they are now.

Now for the awkward question:

The consolidation loan could be a good idea if it still offered to you. You’re right that you’ll be paying more over the long term and you would need to ensure that you can comfortably afford the new repayments and that all your old cards are closed to get rid of any temptation to use them again.

Can you?From your previous SOA I don't think you can - and this leads to the scenario of you meeting loan installments by using your CCs and building up more debt. Only you know if you can meet the payments of a consolidation loan, but just because it's more affordable than what you face just now, doesn't mean it's actually affordable.
I respect your desire to pay your debts,and understand your desire not to enter a DMP or IVA, but I honestly don't see another solution from what you've posted here.

Best of luck finding a solution that works for you:).

rdchick

Rochdale_Guy wrote: »

Gee, thanks for that also

What's it like being so righteous and perfect

:mad:

By no way am I implying I am perfect, I am here too up to my eyes in debt, however what I am saying is we give you advice and there's an excuse or a reason as to why you can't do it.

I am sorry for your relationship breakdown, but it's happened and I don't know your personal circumstances and just know from what I have read... perhaps you could use this as your wake up call and DO something about it. It will be hard/scary/daunting but you can do it. You just need a plan and stick to it. Open the new account (there's no harm in doing this regardless) see if you can get that consolidation loan, if you can, cut up all the cards cancel every account and focus on paying it back, if you can't talk to CCCS.

I, like others want to help but we don't like that help being slapped back in our faces

rising_from_the_ashes

RG IMVHO with the amount of a shortfall you've got then realistically DMP / bankruptcy etc is your best option.

Even if you manage to get a 2nd job, you're very unlikely to make up that amount every month - unless you work ever hour in the day......

As others have said, most of your creditors will either reduce the interest to 0% or reduce them - this can only help.

If it takes 15 years - then that's how long it will take (I was in debt from when I was 23 until a very few short months ago) - my last effort took 7 years to get rid of everything and that's with working a 2nd job & every penny from that going to the debts, it would've been considerably longer if I'd only had my "main" job.

A consolidation loan is very rarely a good option - that's based on my own experiences (did it twice and ran up debts again both times) and from being on the boards, I know I'm not alone in that..... only 15% of people who do them manage not to run up more debts - that's a fact and one that I think should be a lesson to all of us.

Also, with the amount of debt you've got compared to your income, I honestly don't think you'd get a consolidation loan anyway.

When was the email about consolidation received?

Eastie77

Hi Rochdale Guy,
I do hope you take on board a lot of the very helpful suggestions on here and act on some of the advice. I've been in a bit of debt myself in the past and know it can be difficult to get out of it.

I would hesitate to call anyone a troll but through few sheer coincidence I came across a thread which I think must have been started by you on another Financial Advice board I use a few weeks ago. Your thread on that site generated almost 300 replies with various people trying to help you over the course of several weeks and then you disappeared. I do find it a tad odd that you've now hopped on over here and have not responded to some of the messages on that site regarding your current situation?

I cannot believe anyone would spend the time and energy you have making up a story of this length about debt and so send you my very best wishes and best of luck in climbing out of your situation (and apologies for not having any practical advice - I'm not an expert on finances!)

Best,
Eastie