Desperate to sort out Debt.

Fiwifruit

So, Me and my Oh have just had our second child and we are in so much debt im so worried.

Basically we are paying out £533 on Debt each month and with my partners work dropping his hours to partime a few weeks ago we have no money.

I googled Dmp but it says Creditors still come after you for court and that just worried me sick. I have post traumatic stress and any stress makes me worry till im ill.

We owe around 17,000 in total.

We have cancelled all the things we can to save money but theres still nothing left.

What can we do please?

Jenna

Hi Fiwi,

I haven't been on the site for a long time, just popped back this evening for some inspiration, and really felt moved to post.

I used to have severe PTSD and remember only too well the effect on my budget. I'll PM you the charity that I found helpful and, well, you know where I am ey.

There will be people on soon enough to help but for now, please just know you are in the right place to get good money help, the guys on this site are knowledgeable and helpful people.

Growurown

Fiwifruit wrote: »

I googled Dmp but it says Creditors still come after you for court and that just worried me sick. I have post traumatic stress and any stress makes me worry till im ill.

What can we do please?

Hi Fiwi

We are on a DMP and have been for over a year and we haven't even heard a whiff of being taken to court. This is very unlikely to happen. Go through one of the free debt counselling services such as Payplan or CCCS and get some advice about the right solution to your debt problem. They are very helpful and I am sure they can help you. Lots of people on this forum are on a DMP and there is a lot of good advice and support from them if you choose to go down this road.

Depth_Charge

Fiwifruit wrote: »

So, Me and my Oh have just had our second child and we are in so much debt im so worried.

Basically we are paying out £533 on Debt each month and with my partners work dropping his hours to partime a few weeks ago we have no money.

I googled Dmp but it says Creditors still come after you for court and that just worried me sick. I have post traumatic stress and any stress makes me worry till im ill.

We owe around 17,000 in total.

We have cancelled all the things we can to save money but theres still nothing left.

What can we do please?

Hi

Debt Management Plans are informal arrangements so creditors are not excactly bound by them so to speak but they are supposed to follow certain guidelines.

Always best to get full advice on all your options including debt management plans, preferably from the genuine charities such as CCCS, National Debtline, CAB.

More information needed on your overall circumstances really, could you put up your statement of affairs (SOA) as this will help people on here in assisting you further.

In the meantime you might find it useful to look through the debt remedy and information tool links below.

https://www.mymoneysteps.org/

https://debtremedy.cccs.co.uk/start.aspx

http://www.mymoney.nedcab.org.uk/moneyadvice/

Allypops

While creditors can go to court, many eople go through their entire DMP without going to court and even if they do, the judgement means that they only get paid the same sort of amount that they were gettingon the DMP anyway.

Being in debt is horrible but if you can get some good advice and support, (make sure you use a free service such as CCCS or payplan) and then take steps to start dealing with it, you will feel so much better and begin to see light at the end of the tunnel. Things may also pick up in terms of your OH's working hours in the future.

If you want any advice on your budget you could post a statement of affairs on here. Follow this link: http://www.stoozing.com/msoc/soacalc.php

Deep_In_Debt

I've been on my DMP with CCCS since 2008 and not one creditor has threatened me with court action.

They may threaten, but it's just that, threats. It will probably cost the creditor a lot of money to take you to court (probably more than you owe) with an outcome that is likely to rule in your favour if you keep paying what you can afford. Most creditors are full of hot air when it comes to court.

katy_ann

Speak to payplan or cccs, im with cccs and i cant reccomend them enough, they have been so lovely and helpful to me, brilliant! x