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

wecandothis_2

Rochdale_Guy wrote: »

Thank you Loubylou2.

It's this whole "fear of the unknown" thing that's causing the poor sleep and panic.

Oh, and I really should pay more attention as I just went to apply for the Co-Op Cashminder account online, and you can only do it over the phone or in person! I remember now that people on here had already told me that. Never mind, will go into my local branch tomorrow.

Do they ask if you have any credit cards? I can't say no as when they they transfer my direct debits, they'll see I am making payments to 5!

I cant remember exactly what the co-op asked me tbh but i was completely upfront with them and explained we were starting a DMP so had several creditors and wanted a basic bank account. And now we have 2 basic bank accounts with them , one i use for all the DD's , mortgage and DMP payment and the other for things like shopping & petrol. And we also have a saver acc with them which i transfer money into each wk for things like car tax, insurance, servicing, Christmas (basically all the once a yr expenses).

rdchick

Think of it this way, if you call CCCS tonight (or in the morning, I don't know when they close) you will be one day closer to being debt free... If you don't then it's another day added on. This has been going on since Saturday night, it's nearly Wednesday, being in a blind panic will not allow you to be debt free... Doing something about it like calling a Debt helpline like CCCS will...

Not being mean like you think I am, I am just mearly pointing out that this thread has been on the first page of the forum for the past 4 days... Do something about it! It will make you and us feel better. Promise.

wecandothis_2

Rochdale_Guy wrote: »

Great positive post too, thank you also :beer:

A quick calculation tells me if things stayed as they are with no more spending on the MBNA card, I would be paying £7,776 a year in minimum monthly repayments with £5,554 of that in interest alone :eek:

And without wanting to go full circle, just hope they will freeze interest charges when CCCS do their thing.

We owed MBNA £15500 on one card and £1600 on the other and they have been nothing but helpful, infact they were the 1st to freeze interest so everything we've paid on the DMP has come straight off the debt, though they did notify us this week the debts have been sold on which tbh might be a good thing as they wont have paid much for them so hopefully next yr we can make some F&F's.

Loubylou2

You must read this thread which I came across last week. Its inspirational. This lady has had to do things the hard way its certainly been tough for her but it shows what can be achieved out of adversity.


https://forums.moneysavingexpert.com/discussion/3760927

happycrafter_2

at the start of CCCS we owed a lot of money, and I promise the phonecalls stop, the letters stop, no one ever came round to collect money.

the only letters we get now are statements of the debts and we use them to keep CCCS up to date.


I over analysed everything, i had spreadsheets upon spreadhseets. working out different outcomes, and I still do to a point but sometimes you just need to go in to autopilot and just do it.

soo...

DON'T THINK, JUST DO!!!

you will wonder why you never did it sooner
:beer:

MyLastFiver

Rochdale_Guy wrote: »

I'd be able to sleep much better if I knew they'd all accept the CCCS DMP offer, not constantly phone me up, send demanding letters, or worse still, send someone round to put the creepers on me and try and collect monies owed.

If they phone you, you can choose to take the call (I used to sometimes if I was in a good mood) and tell them you're with CCCS and to contact them. Or you can choose to not take the call, and hang up, or you can just unplug the phone when you don't want to be bothered.

If they write to you, it is worth reading the letters then forwarding them to CCCS. I did some of the creditor negotiation myself in order to keep things running smoothly (I'm a bit of a control freak). You soon get used to all the empty threats and they will cease to have any effect on you.

No-one will turn up at your door. "Field agents" are very expensive. Why send someone round when there's already a payment plan in place? If they do turn up, they have no authority whatsoever. Tell them to p!ss off. If they don't, call the police.

Rochdale_Guy

wecandothis wrote: »

I cant remember exactly what the co-op asked me tbh but i was completely upfront with them and explained we were starting a DMP so had several creditors and wanted a basic bank account. And now we have 2 basic bank accounts with them , one i use for all the DD's , mortgage and DMP payment and the other for things like shopping & petrol. And we also have a saver acc with them which i transfer money into each wk for things like car tax, insurance, servicing, Christmas (basically all the once a yr expenses).

Thanks. Will definitely go in tomorrow dinner with some ID

Rochdale_Guy

rdchick wrote: »

Think of it this way, if you call CCCS tonight (or in the morning, I don't know when they close) you will be one day closer to being debt free... If you don't then it's another day added on. This has been going on since Saturday night, it's nearly Wednesday, being in a blind panic will not allow you to be debt free... Doing something about it like calling a Debt helpline like CCCS will...

Not being mean like you think I am, I am just mearly pointing out that this thread has been on the first page of the forum for the past 4 days... Do something about it! It will make you and us feel better. Promise.

I *WILL* do something, I promise.

Rochdale_Guy

happycrafter wrote: »

at the start of CCCS we owed a lot of money, and I promise the phonecalls stop, the letters stop, no one ever came round to collect money.

the only letters we get now are statements of the debts and we use them to keep CCCS up to date.


I over analysed everything, i had spreadsheets upon spreadhseets. working out different outcomes, and I still do to a point but sometimes you just need to go in to autopilot and just do it.

soo...

DON'T THINK, JUST DO!!!

you will wonder why you never did it sooner
:beer:

Cheers, as above, I will do something. I will be a different person tomorrow night, I swear.

Learning2Budget

I was meant to be getting an early night then started reading your thread. We had 3 attempts at getting started, ended up consolidating debt and ended up in a huge pickle.
Then i heard about the cccs. Had a total lbm in.2008. Still on our dmp now but cccs have been amazing. We actually have money fir food in our budget, clothes and haircuts. Something which we didn't before cos all our money went on paying cc and loans.
Ring them and feel the weight lifting. We were on the point of divorce over our debts. 4 years down the line we are stronger and the end is in sight.
Your ex sounds like she wants to hear that you are making the right payments. So maybe u still have a chance at making things work.
The baggage of debt can be all.consuming. Maybe you need to drop baggage, ring cccs and get your life back on track rate.
L2B.x
ps sorry for typos can't see what Im typing properly. lol