feeling so down :o(

Nivea_2

OK so I have done it, my paperwork is with CCCS and the letters have gone to the creditors, I keep freaking myself out reading old threads about people having nightmares with creditors, today I feel so depressed it is unreal.

I thought I had got over the worst hurdle which was admitting to my husband that I am just over £40k in debt, he was wonderful and is supporting me, I am very lucky.

CCCS say it will take 4years and 9 months to pay off my debts at £746 a month which I can afford. I have a well paid job so I know I am very lucky but I am crapping myself.

My creditors are:

• Next - £1,500
• Barclays o/d - £1,500
• Barclays c/c - £6,400
• MBNA c/c - £6,000
• Halifax loan - £16,500
• Barclays loan - £9,000

I am worried sick about the coming months, worried about getting CCJ's, what will happen when our mortgage fixed rate is up?, what happens if they don't stop interest and charges?

I know things will settle down but I am in such a state it is horrible ( I know this is my fault and I am prepared to see it through but the worry and stress is unbelieveable.

Any advice greatly appreciated - thank you x

mogsi80

Hey Nivea

I know it's scary but you are going in the right direction, and things will improve and become less scary and stressful!!

I am on month 10 of a self managed DMP, and I've not had a CCJ yet, weirdly I have not defaulted on any of my accounts - which I was expecting and want them to hurry up and get on with it so I can start the 6yr counter!

We have a debt similar to you - and couple of the same companies too - Halifax have lowered the interest on our cards and loan, Barclays rescheduled hubby's loan on to a cheaper rate too and MBNA froze all interest for the next 5yrs on my card (which started off about £1800 more than yours).

Fingers crossed that you'll get the same results with the companies, as we have, and good luck with everything - it really is just a huge weight off our shoulders.. You'll feel like that soon too.

Take care x

Blackpool_Saver

You should be proud of yourself, well done on making that start

mo1_2

hiy,i was in your position a few years ago,mine was 17,500.00 i never thought i would see an end to it,but with keep paying off small ammounts and reclaiming charges on the accounts and changing my spending habits,(mostly due to advice on here) im nearly there,i wasnt slleping,scared to answer the phone,didnt open post,now i wish the postman would come,so my point is,there is some light at the end of the tunnell,keep focused and keep chipping away at it and whatever caused the debt change it?i wish you all the luck in the world

BevieB

Nivea wrote: »

OK so I have done it, my paperwork is with CCCS and the letters have gone to the creditors, I keep freaking myself out reading old threads about people having nightmares with creditors, today I feel so depressed it is unreal.

I thought I had got over the worst hurdle which was admitting to my husband that I am just over £40k in debt, he was wonderful and is supporting me, I am very lucky.

CCCS say it will take 4years and 9 months to pay off my debts at £746 a month which I can afford. I have a well paid job so I know I am very lucky but I am crapping myself.

My creditors are:

• Next - £1,500
• Barclays o/d - £1,500
• Barclays c/c - £6,400
• MBNA c/c - £6,000
• Halifax loan - £16,500
• Barclays loan - £9,000

I am worried sick about the coming months, worried about getting CCJ's, what will happen when our mortgage fixed rate is up?, what happens if they don't stop interest and charges?

I know things will settle down but I am in such a state it is horrible ( I know this is my fault and I am prepared to see it through but the worry and stress is unbelieveable.

Any advice greatly appreciated - thank you x

Hi,
The most important thing to remember is that you have admitted to your self that the debts were unaffordable. The DMP will allow you to budget and makes you stick to it as the temptation of using credit is removed.
We are 9 months into our DMP and its the best thing we have done. Like most people we wish we had started it earlier rather that spent years using credit to pay credit. I now can sleep and its more satisfying buying things you have saved for.

We seem to have some of the same creditors. Next were really good and froze interest, Barclays loan also froze interest, Barclays CC reduced interest to 3%APR but accepted reduced payment. The Halifax though have been a real pain in the ar--. After about 20 calls/letters they have frozen interest on our OD but our Halifax CC they have only reduced APR to 12%. I have written to the FSO for them to look at. You have a loan so not sure how they will treat it.

Anyway good luck with the DMP, you most prob have lots of calls to start with but they will die down soon (cant remember the last time anyone called)

Teatime

Good luck, Nivea. Seems like you are on your way to being sorted.

T

Nivea_2

Hi

Thank you, allof you for your messages of support, they are very much appreciated.

I am seeing my doc again today as I feel so low, I really do need some help I think.

Also, realised this morning that whilst I have just moved my gas and electric to a new supplier (saving £350 a year/£40 cashback) where I will be paying by DD monthly (allowed for in my new budget for DMP), my last god awful quarterly bill from BG is due at the end of this month (bills usually £400 + a quarter), in addition my water company sent me a final demand yesterday for a £120 bill I haven't paid since Feb (didn't realise it was outstanding). I have to find around £550 from somewhere at the end of this month (

My first payment on DMP is due 1st June, I am with CCCS, does anyone know if I could delay this till 1st July and make token payments again next month to my creditors? I will of course contact CCCS to ask but wondered if anyone had experience of starting DMP after 2 months of token payments?

Thank you x

mo1_2

how about ringing gas and water companies and trying to explain what your doin and they may sort out a payment plan for u?