Finally admitting we have a debt problem

debtfreewannabe321

good luck we have a dmp with the cccs, barclaycard are the only ones (on your list!) that haven't stopped interest with us.

xx

little_pink_purse

wishing you good luck xxx

chevalier

Good luck with your DMP going forwards. Ref the food shopping, I think it is very easy to do what I call auto shopping. You go round the supermarket same day every week, put things in the trolley and pay, without REALLY THINKING about whether you NEED that item, or what it will be USED with.

You can literally save 100's a month by meal planning and then sticking to a shopping list of needs (ie for the meal plan). Can you down shift brands so that you aren't paying for the branding?

Ref the gas and electric. Make sure that your thermostat isn't set too high if it is a new build. If your central heating is more than 21 then turn it down to 19 or so. This will save you a fair wack, and if it is a bit nippy this is what jumpers are for. Same for your water heating. If you have to add water to the washing up bowl when you turn on the hot tap, then the temp is set to high.

good luck with your money saving
chev

ladybez

TMO2
When you are talking about the DMP, you are typing CCSC. The free service recommended is CCCS. Is this just a typo on your part, or have you contacted a fee-paying company.

tiredmumof2

Sorry, it's a typo- I've gone with consumer credit counselling service.

Thanks for spotting that

shadylady29162

Hi just been reading the threads as I'm afraid my husband and I are in a very similar situation to tmo2. I am trying to work out a solution or where to contact for advice but don't really understand any of the terminology that has been used in these threads can anybody help please or point me in the right direction? Reading this has made me decide that I need to sort my finances out fast! Thanks

tiredmumof2

shadylady29162 wrote: »

Hi just been reading the threads as I'm afraid my husband and I are in a very similar situation to tmo2. I am trying to work out a solution or where to contact for advice but don't really understand any of the terminology that has been used in these threads can anybody help please or point me in the right direction? Reading this has made me decide that I need to sort my finances out fast! Thanks

Hi shadylady,

Have a look at the beginning of my thread and there's a link for SOA- this is statement of affairs. This details income and outgoings and highlights the shortfall. Next thing to do us contact Consumer credit counselling service (CCCS) and complete the online form. They'll tell you whether you need a debt management plan (DMP) or and Individual voluntary arrangement (IVA). The iva is a pretty drastic option - its basically the stage before bankrupcy ( this was how CCCS explained it to us) as approx 40% if your debt will be cancelled and you have 5 years to pay the remaining debt.

CCCS will tell you which option is more appropriate for your situation- I realised our situation was out if hand this time last week and since then I've sorted all my paperwork and returned it to CCCS, opened my new bank account, cut up all my cards and wrote to my creditors telling them of my situation. I feel like a weight has been lifted off my shoulders. I'm sleeping better and I'm now ready to face up to the debt I was in more positively.

Ask a question on here and the lovely people on this forum will direct you to the right place - just like they did for me!!

Good luck on your journey x x

shadylady29162

Thank you so much for that reply....I shall complete a SOA and contact CCCS. I've spent a weekend in tears not knowing which way to turn and it was my lightbulb moment. I feel sick with worry but actually writing on here has made me realise I'm not on my own but I have to do something fast. Time for change. Any questions I will share on here x

tiredmumof2

shadylady29162 wrote: »

Thank you so much for that reply....I shall complete a SOA and contact CCCS. I've spent a weekend in tears not knowing which way to turn and it was my lightbulb moment. I feel sick with worry but actually writing on here has made me realise I'm not on my own but I have to do something fast. Time for change. Any questions I will share on here x

No problem at all - I'm only a week ahead of you so keep coming on here and get the advice you need from others - like you say there are so many people in the same situation. I was so embarrassed about my SOA and I've had nights where Ive cried myself to sleep. My LBM came at work and I had a panic attack and started crying in front of my colleagues! What a complete shamer.

Remember - you're not alone and there's always someone here to 'talk' to x

Hovel_lady

shadylady29162 wrote: »

Thank you so much for that reply....I shall complete a SOA and contact CCCS. I've spent a weekend in tears not knowing which way to turn and it was my lightbulb moment. I feel sick with worry but actually writing on here has made me realise I'm not on my own but I have to do something fast. Time for change. Any questions I will share on here x

Hello and welcome to the DFW board :wave:

When you have done your SOA if you want the people on here to have a look do post it.
You're definately not alone with it. Nearly everyone on here is in/has been in debt.
Have a read of some of the diaries if you want some inspiration.

(Sorry to hijack your thread tiredmum )