The Over 50K debt Club - Join Here!!

lonely_2

SortingIt wrote: »

Hello there

I am up for joining and have over 50k of debt following realisation that I had to start doing something a couple of months ago. Does anyone find it all overwhelming though?
I am trying hard to not look at it as a whole and tackle debts in small doses as over 50k just seems never ending nightmare!!

Erm..yes!! I'm too cowardly to tell my hubby (all debts are mine anyway) - we've been together for 8 years but he doesn't know (if he has any idea he doesn't let on, and if he knew extent of it he would break down). Everyday I think about it, that's why I'm on this site so much, the thought of it consumes so much of my time that it's beginning to affect my job and I cannot concentrate at work. BUT i know it will get better. Payplan have helped so much, I cannot rate them enough. But you need to take responsibility too. A lot of people think DMP companies will do all the work for you - they will, but it takes a hell of lot longer to get anything to happen. You need to pick up the phone and not be scared to talk to your creditors...use Payplan/CCCS where you need to (e.g. when they are hassling you and you can't be bothered to carry on the conversation), but also ask directly for the thing you want (to get them to stop interest and charges). Always be polite and if you are not getting anywhere with one person, call again and speak to another department/person...believe me it is really empowering. Especially when you see that debt coming down.

daysieblue

lonely wrote: »

Everyday I think about it, that's why I'm on this site so much, the thought of it consumes so much of my time that it's beginning to affect my job and I cannot concentrate at work.

I know what you mean, it's awful isn't it? My worries are compounded by the fact that my company has it's own DFW problems, with about 20 of our creditors now on a 4 month DMP. Every month I worry about whether we'll have enough money to pay the salaries. It really doesn't help my state of mind. I can't even tell DH, because his response is "update your cv and get a new job" but I'm too mentally fragile to go through all that at the moment!

Ho hum

db xx

lonely_2

I'm sorry to hear that Daisyblue. It doesn't take long to update your CV and just leave it on a good jobsite like Monster - let the agencies do all the looking for you. Can't be good being surrounded by money worries 24/7!

shamu95

Well i thought i was doing so well. Have totalled yp my debts and its £500+ on last months. i was expecting £150+ for court fees but am gutted. Things seem to have been set up to renew from my ccs that i didnt realise such as credit card protection that cost £50. covers against all losses. Then i appear not to have cancelled my credit expert after 30day trial even more money. All my effort seems to have been for nothing. what on earth am i meant to do?
Anyone else get like this? Even reducing by a measly £10 woukd be something

olivetrees

I know exactly how you feel Shamu95. My DMP doesn't kick in until the end of this month and in the meantime I am still getting late charges and interest added onto my accounts.

I wrote to them all with my SOA and they have taken no notice whatsoever.

So my debt is just getting bigger and it wears me down so much.......

shamu95

its nice to know am not alone. keep thinking though that things cant possibly get any worse. Hopefully you'll be able to claim all your charges back.
so wish i'd had my lightbulb moment a year ago.

doitmyself

lonely wrote: »

Erm..yes!! I'm too cowardly to tell my hubby (all debts are mine anyway) - we've been together for 8 years but he doesn't know (if he has any idea he doesn't let on, and if he knew extent of it he would break down). Everyday I think about it, that's why I'm on this site so much, the thought of it consumes so much of my time that it's beginning to affect my job...

Hi there lonely
Thanks for opening the club. Guess I'll ask you before someone else does, how come not telling your partner?

I get the impression you're looking for someone to tell you to tell him. You must be wondering? I'd probably say yes, others would probably say no, and I guess it depends on things unknown here. Seems strange to me though (not a moral judgement btw)..

golddigger_3

Hi

As you can see by my signature - I would definitely like to be in this club!
We are not in a DMP officially but doing it ourselves. We are lucky enought o have a decent salary which helps.

So, how did we get here?

BAD HOUSE PURCHASE - bought a 2nd house as an investment by re-mortgaging our house while hubby's salary was spiralling downwards (in car sales industry). Did it up all on credit cards, had it burgled (after furnishing it throughout with v. expensive furniture that was going to go in our house after the sale) and they took everything (even the fireplace and hearth). Rented it out - tenenat did a runner owing £3k. Rented it out for a year and sold it making a total loss of about £27k. Good move - not.

GENERAL OVERSPENDING - never stopped to think - do I need this - do my kids need this etc. Just bought everything we watned really.

HUBBY STOPPED WORKING - I have always worked part time (self employed musician) but my wages were about £10k, then hubby was depressed at work and I said - just stop - something will turn up! He started working as a musician too - but very rarely. He had 8 months off work while the debt spiralled. Didnt change our spending habits

GAMBLING - i am ashamed to say I have been playing online bingo for 2 1/2 years and have spent £9k of "my own" money and £30k of winnings doing this. Don't play any more - but it was hard to stop.

EATING OUT - we too love a good meal out every other Sunday - so now we just go once a month and go for a carvery which is cheaper - no drinks - just water on the table.

HOBBIES - I knit which is how I stopped gambling (gives me something to do with my hands!) but its not a cheap hobby.

SMOKING - Hubby smokes and not jsut cigarettes - if you know what I mean

KEEPING UP WITH THE JONES'S - had the drive paved cus next door did. Had the garden landscaped cus next doors was beautiful. Bought a new settee cus they di..etc, etc, etc (pathetic really)

NOW - I have a really well paid job (self employed but contracted) about £5k per month before tax and expenses (fuel, car, postage, car parking, stationary etc).
We are making inroads into the debt and WILL be debt free in 3 1/2 years. Stopped over spending, got rid of the cleaner, had cavity wall insulation, have a spend diary and look at the snowball calculator regularly. When we get our bank charges back - shall be throwing a load at the debt which will reduce it significantly.

Sorry its so long.
You can wake up now!

doitmyself

golddigger wrote: »

Hi

As you can see by my signature - I would definitely like to be in this club!
We are not in a DMP officially but doing it ourselves. We are lucky enought o have a decent salary which helps.

So, how did we get here?

BAD HOUSE PURCHASE - bought a 2nd house as an investment by re-mortgaging our house while hubby's salary was spiralling downwards (in car sales industry). Did it up all on credit cards, had it burgled (after furnishing it throughout with v. expensive furniture that was going to go in our house after the sale) and they took everything (even the fireplace and hearth). Rented it out - tenenat did a runner owing £3k. Rented it out for a year and sold it making a total loss of about £27k. Good move - not.

KEEPING UP WITH THE JONES'S - had the drive paved cus next door did. Had the garden landscaped cus next doors was beautiful. Bought a new settee cus they di..etc, etc, etc (pathetic really)

Bad luck on the house there but thank god for the jones's else that garden wouldn't never have got done huh?

livinginhope

Only just seen this thread,can I join your club? Unfortunately I think I more than qualify

LIH