Am I gonna lose my house????

Munki_2

Nix,

It's natural to be worried about these things... it shows you really care about what is happening. However, you should try not to worry too much. It's people who bury their heads in the sand, have them pulled out, slapped around a bit, told what they're doing wrong AND sticks their head abck into the sand - they are the ones with a real problem! You are doing everything right so far, and with a little advice from the CAB and National Debtline, I'm sure you will feel a lot happier. Sure it will be a little scary to begin with, and you will probably need to make some sacrifices (money-wise), but sometimes we just need pointing in the right direction - to be reassured that everything will be alright.

You've done the right thing talking about your problem on here. Don't worry about what the CAB or National Debtline will say to you or treat you. They are very understanding and will not be condecending to you. Just make sure you are honest with your problem and are open to trying various ways of fixing your debt problems.

Have you tried contacting all the DD companies to tell them of your problems? Usually they can be very helpful. Even if its just to withhold a payment for a month or two, just to relieve the financial strain whilst you try to sort things out.

Also, I know you will probably have done this already, but you could try to look at every aspect of your spending, and reduce this down to a minimum, and try to get cheaper utilities (Gas/Electric/Telecoms/Home,contents insurance etc). You may not feel like doing this now - sort out the more pressing financial problems first - but you may find that it frees up some additional cash afterwards, that you never knew you had.

A lodger sounds a good idea. I'm not sure how immediate you could get one though, and I'm sure you are after financial reassurance a little quicker than simply relying on getting a lodger - so stick with talking to the CAB and debtline, as they can help give you that reassurance.

Your situation is not serious at the moment. You wont loose you house, not from the information you have given. Mortgage lenders don't like to jump into the reposession route if they can help it - after all they get more money off you in the long run if you carry on with your mortgage through them! ;-) So don't worry about that. Try to speak to the council about your council tax - try and get a reduction if poss. You never know you may be entitled to one anyway (but I don't know much about council tax to say for sure).

The main thing is to be open with everyone - especially those you owe money to. It's often easier for companies to come to agreements about repayments of debt, than it is to drag you to court.

Keep talking on here - as BT say "it's good to talk" ;-). Nobody here will give you stick - and hopefully you may get some good advice!

Good luck.

Munki.

Munki_2

Also, you say you are in arrears with the council tax. Are you in arrears with anything else? (usually this is the way eg mortgage payments). If so, as I said in my previous post, contact them and explain everything. They will probably me willing to help (e.g. with the mortgage, they may switch it to interest only payment for a while, or give you a payment holiday for a while).

HTH,

Munki.

Nix143

Thanks guys for the help

Not in arrears with mortgage - yet.
Owe council tax approx £100 pcm since November
Gas and electricity - in 4 months arrears with them cos having a battle over a mis reading they did when I swapped suppliers and now they say i owe them £2000 for a quarter!
Other bank account - £100 over overdraft limit and rising due to charges
Tax - missed deadline for tax for a brief period when I was self employed and now know tax man gonna come knocking

Need to sit down tonight and open the mountain of mail I have been ignoring - otherwise how do i know what I'm dealing with

Am scared by how much there is when I start adding it up

But I have to big myself up because even tho I'm scared I am doing it and I'm not going to run away again - the depression just so screwed me over and I still have to fight hard to deal with 'normal' stuff - but I've got my goal in sight and I am determined not to lose my house

Plus it's 11.30am and so far I haven't had a cigarette! By now I would have smoked, oh, 6 fags which has saved me approx £1.35 so far! Talk about trying to do everything at once - I'm so stressed I could scream and could deffo smoke a pack of tabs easily but oh, how GREAT am i gonna feel when I sort all this out!

Cheers guys - I'm up and down like a bride's nightie at the minute and the support/advice from here is keeping me going

Munki_2

It's good to hear you talking about things... It makes things just that little bit easier to cope with, doesn't it ? ;-)

Now for what you've said... let me see....

I'd try and concentrate on one thing at a time... with each thing make sure you get a good idea where you stand. For example, you gas and electric - get back onthe phone to them and don't give up until you get to the bottom of the 2k owing. Clearly this is a reading fault. I would try contacting your previous supplier and find out what final reading was supplied to them. Then phone your current supplier and check that their start reading is the same. Try and get a breakdown of the 2k bill... there's definately something dodgy going on there.

Concentrate on your overdraft for the moment. Try and get that paid off asap. There are interest free current accounts available (A&L??), but I don't know a greawt deal about these and I wouldn't guarantee you being able to get one (and I'm not sure if you are allowed to transfer the debt over to it..) but it might be worth looking into. Don't let this think you can ignore that account though, as the interst free only lasts for a fixed period. It can just help with you concentrating cash on paying off captial, rather than feeling it's all going on interest and fees.

At least make sure you get that account within the overdraft limit... going over your overdraft limit is, well.. over daft ;-) (ok, crap joke).... the fees will hit you big style....

Have you the cash to pay for your tax? If not, you need to speak to the inland revenue about it, as that sort of debt is hard to shake off... the IL is less forgiving than companies, so have a chat with them.

Good news about the mortgage... but don't dismiss the idea of asking for a payment holiday or maybe asking to pay interest only for a while. You will pay for it on the end of your mortgage... but the important thing here is to free up cash for more immdediate problems.

Take a deep breathe and open your mail. You can do it... don't worry :-)

I've spent many a time worrying about money... and in the end, nothing else helps better than tackling a problem and putting your mind at ease more and more, one problem at a time.

Glad to hear you aren't smoking... that'll save loads of money :-)

Good luck,

Munki.

P.S. I also find going out for a nice long walk helps me clear my head and reduces stress... try it next time you are feeling a bit down...

Nix143

ARGH!

Can't move away from desk - we have rush job on and boss bought us all butties to eat here

Have asked if I can have half an hour but no one else is and I'm not being a good sport or a team player, have said it's urgent, but there is lots of frowning going on....

Oh hell - this is making me worse! Sorry to moan, just desperate to get thru to the bank now

Munki_2

Don't worry... you've done enough already for today... crack on with work and try to get your mind off things. After all, waiting until tomorrow probably isn't going to make that much of a difference :-)

Chin up,

Munki.

Nix143

Quick update - and a word of encouragement to everyone else struggling like I am

So far I have sorted one bank account (the minor one) and my council tax arrears to stop the bailiffs potentially coming out. Now, I was scared as holy hell - but now these have been sorted it's given me the confidence to look at everything else that I need to do. Got a financial advisor coming out tonight and then am off to see big bank tomorrow.

Now my money problems aren't over by a long chalk and I have hard times ahead - but the control is coming back in my life and I am now looking forward to the challenges life is bringing me

Had 3 days and only smoked one fag (during council tax call!), brought soup to work every day and not spent any money - as opposed to the £30 I would have spent so far on a 'normal' week.

So, anyone out there scared and in a mess, please take that first step in sorting your money troubles out, please. I have spent so long struggling with depression and this made me so scared about ringing anyone and talking about the mess I had gotten myself into. Now, well, it's early days, but I am determined to get there.

Thanks for all the support of everyone on here

Munki_2

Good to hear you are starting to get things sorted. I bet you can feel the great weight on your shoulders lifting already?

Good luck, and keep us posted with how things are going. Alos run any decisions past people on here if you can't quite get your head around things...

Munki.

Debt_Free_Chick

A word of warning, Nix.

Some Financial Advisers need to sell you something, in order to earn commission. DO NOT agree to buy, sign or commit to anything until you have been back here and checked out what he suggests.

Ditto, your bank.

In particular, DO NOT agree to any suggestions that your debts can be "consolidated into a simple one payment loan". Listen to what to they say. Sleep on it. Think about it. Ask us here.

I only got Debt-Free the hard way - as did many others. We can "smell a rat" and will tell you if there are any pitfalls in the recommendations made to you.

Good luck - let us know how you get on

Nix143

Hey DBC - I know exactly what you mean - not only am i getting a set of figures from my financial advisor and my bank, I'm also seeing a debt counsellor. I want ALL my options laid out before me with pros and cons before I decide anything.

Financial guy was great, really up front about costs and pluses and minuses of everything we spoke about - and also mentioned that consolidating everything onto mortgage may not be best option for me long term.

From being led into situations and ignoring my problems I feel I have really turned a corner and I am determined to take all the advice I can. Reading all the boards has helped tremendously and I enjoy coming on here every day and finding something new I can do to take control.