New member needing advice

Starscream-83

Okay about 3 and a half years ago my entire life fell apart, I was cheated out of my inheritance by my so called mother, had my entire family turned against me through her lies etc and this caused me to fall into a deep depression that resulted in the loss of my job and home. My partner was heavily pregnant at the time and although that is meant to be a happy time it only compounded the issues because we could not afford a cot or pram etc and where having to rely on charity!

So for the past 3 and half years I have really not been able to cope at all emotionally and so have avoided my debts like the plague, but now I am on decent meds etc and mine and my partners circumstances have changed for the better....

We want to get our finances sorted out so that we can start building our future for our young family and so I need to get in touch with those companies we owe money too, but we have had no contact with them for the full 3.5 years as have had to move around a lot... (I'm really ashamed of myself for getting into that state)

At last count I owed:
£450 to HSBC for an overdraft
£1000 to Halifax for an overdraft
£2000 to Capital one for a credit card
£500 to Wonga on one of those pay day loans

Plus several other small debts of sub £100.00


I want to call them tommorow and start getting this mess sorted out but I'm scared... can someone please point me in the best direction?

McKneff

First of all, check your credit report to see what defaults you have.

Any debt not acknowledged or paid for the past 6 years is not enforceable.

Then come back and ask again.

And good for you for getting yourself straightened out. Good luck

edit, and dont be ashamed, youve done the right thing by coming on here, you'll get lots of help.

Starscream-83

Hi again,

Okay according to Equifax I owe and have been defaulted on the following...

o2 - £276.00
Halifax current account - £1,326.00
Capital 1 credit card - £1,960.00
HSBC current account - £723.00


What is the next step... I really am getting in a flap about calling these companies as I'm scared I may get bailiffs to my door or something

GlynD

No you won't get bailiffs to your door. Not as long as you agree some sort of repayment structure.

kaya64

well done for getting your life back on track .
If i were you i would write to these companies and offer them a payment plan which you can afford , telephone conversations are not the best way to deal with creditors .

Barbeduk

And don't give them your bank account details.

DS4215

If you haven't paid anything for a number of years you could consider making a full and final payment offer to them for say 20-25% of the balance. It might be that they snatch your hand off for some payment after so long without anything...

Obviously you would need the money to make such an offer, but it is worth considering.

lindann_2

l can understand how you went to pieces, by not inheriting x mount of pounds. My late mum said she left some money for me, with lies from a sibling, l did not get a penny, (would not let me see the will).. I do not want to go down that road, l believe he would have to answer for his actions one day.. I would do write to the creditors, you are arranging a dmp, either with cccs or payplan or your own. do a soa here, so people can check where you can make savings.. Work out the pro-rata for each debit. Ask for them to freeze all charges and interests. If you got things in writing then you can deal with each issue.. When you was ill with depression; you would have medical records, etc..Would your credit card have insurance like ppi.. etc... you could have claimed on.. just a thought good luck well done to start your process of being debt free.. also if you have a bank account try a basic one, not attached these debts..

mildredalien

Lindann has some great advice, if you are worried about dealing with it yourself, even if you end up organising everything without a formal debt management plan, it's probably worth speaking to a debt charity (CCCS or Payplan) for some more detailed advice about your circumstances.

Otherwise, you could post a statement of affairs (SOA - http://www.makesenseofcards.com/soacalc.html - you can format it for MSE and post in the thread here) for some advice about tackling your outgoings.