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Reality Bites....OUCH!

Hi I'm Robert, and Hello...I've heard some good things about this forum and I'd really appreciate some <constructive> advice/suggestions/wisdom...

My debts are as follows:

American Express = 1201.39
Capital One = 4,419.99
Egg = 2,344.65
Mint = 319.38
Monument = 2,775.65

Total = 11,060.01

For now, I am living on #57.45 per week, on job seekers support. And I am not too proud in saying this. But I am having to live my parents again. But I thank goodness, that I at least I have someone to turn to...if it wern't for my parents I don't know where I would be...

Anyway, this debt was amassed through a combination of factors, including: financial neglect, a very bad career decision. Trying to find employment has become very very very hard. Plus fear, anxiety, and worry, and self-doubt. But I promise these states of mind do pass, so long as you allow them to.

My concern is not so much the debt I have amassed. But the fact that finding employment has become one huge struggle. I've lost count the number of CVs I have sent out, and the too few interviews, I have been invited to and attended. I promise this is not because of huge lack of action on my part. Really, I am putting a huge amount effort into finding employment, but am just not receiving much back.

With the debt, I am considering my options. Understand I had negotiated a payment plan with creditors and now I am really feeling the financial pinch, I find myself unable to make the payments, that we agreed some time ago.

I have taken advice from Payplan and their suggestion is to write to each creditor and tell them of my current financial status and difficulty...and offer a token payment of #1 per creditor per month. And I have done exactly that.

I have also looked at the option of bankruptcy. Although I don't have any assets, for instance. I don't own a car. I still don't want to go down this road. (Its a personal principle I have, I borrowed the money, I want to pay that back.)

I had sent an email to MYVESTA, who very kindly rang me the next morning prompt at 9am (thats really good!), and they advise me that a #1 token payment is ok for now and upto perhaps six months - if the creditors play ball! Personally, I don't think the creditors will go for this payment proposal...what do you think? MYVESTA suggest bankruptcy is the easiest way out of the financial crisis I have gotten myself into. I'm not happy about it, but if that is the way to go then that is the way...

If you have any practical advice and/or any suggestions I would appreciate it immensely. My main focus is finding a job, but it seems the usual routes to gaining employment are not working for me. Again if you can supply any suggestions and/or ideas...or even other perhaps unusual yet legal/ethical kinds of making a living or make a few extra bucks, that would be great!

OH! I did say I'll try to make this brief! <sorry>
Thanks for reading, and if you can give me some wise advice that would be great...And if I can help, then I'd gladly .

Expect the BEST
Robert.

Comments

  • hypno06
    hypno06 Posts: 32,296 Forumite
    10,000 Posts Combo Breaker
    Hi Robert, you have done the right thing - faced up to your debt and come to these boards!!

    So, you have spoken to Myvesta. I don't know these personally, but others have been through them and seem to find them ok, but if you want a second opinion, why not speak to Payplan or CCCS. If they come up with the same idea then you know you are heading the right way.

    Although I too am of the opinion that I should pay my debts, for some people, bankruptcy really is the best option. Don't rule it out, but keep it as the last resort. There is a bankruptcy board at the top of this one if you want any info/help on this.

    for income, have a look at the sticky at the top of these threads about second incomes - might give you ideas, but remember to take into account any differences that you may have in your benefits as a result. Even voluntary work can be useful to you - it gives you self confidence, and gives something positive to put on a CV.

    What line of work are you in, and why do you think you might be finding it difficult to get a good result?
    Successful women can still have their feet on the ground. They just wear better shoes. (Maud Van de Venne)
    Life begins at the end of your comfort zone (Neale Donald Walsch)
  • sammy115
    sammy115 Posts: 15,267 Forumite
    Hi Robert. What line of work are you in? there is an employment section on the forum somewhere, I found it useful to post on there when I was out of work.

    Not sure bankruptcy is the 'easiest' option though, I think it depends on how long you think you may be out of work.
    Quality is doing something right when no one is looking - Henry Ford
  • catewithers
    catewithers Posts: 502 Forumite
    Part of the Furniture Combo Breaker
    Don't MyVesta charge you for their services? I'm not sure but I have a recollection of hearing that... If so, talk to CCCS and Payplan - their services are free
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    Myvesta, from what Ive read do seem to recommend bankrupcy to a lot of people.

    Given you are on JSA now, I suggest you write to your creditors again

    Yes, there is an employment section on this site too , lots of help there- maybe there is something not "right" for want of a better phrase with your CV- come over to the emplotyment board for advice on it .

    one thing I suggest is could you get out and do a bit of volunteering? Do-it.org is a good place to start. It will help you be a bit more positive about your skills, and learn some new ones too.
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • pania
    pania Posts: 8,258 Forumite
    Hi Robert.

    I know it may sound a tedious option compared to what line of work you may be in, but when i was really struggling a few years back i found that bar work was a god send. It was fun, paid reasonably well and gave me a lot of self esteem back by meeting people and having fun.

    Don't be ashamed of living back with the folks. I wish this option had been open to me. They sound very supportive of you, Love them X1000 for that!!

    i know it gets demeaning but plug away with those CV's, also try employment agencies, they can get you temp work if not permanent. May help you out in the meantime.

    Best wishes and kind thoughts.
    P
    debt @05/11/11 £12210.63!! slowly chipping away!!
    :heart2:impossible is nothing.:heart2:
  • Hello all!

    Thanks for reply to my post. It really made interesting reading. I find you advice invaluable.

    I would have responded sooner, but I have had connection problems...trivial really!

    Just to answer a couple of questions:

    What work I was in?

    About 18 mths ago, i was training to be a lecturer. I won't go into the detrails. Just know that i finally found someting i was good at and enjoyed but for circumstances beyound my control i was'nt allowed to progress.

    Before that i had been working in I.T. which i absolutely hated and done some work in retailing which was ok...but not really for me.

    i did try to get back into I.T. :-/ (don't know why either!!). But the story is that I was made the victim of a swindle, as the training company was not has competent or honest. And under the eyes of the law, there is nothing i can do about it..so much for fairness and justice.

    Why am I finding it difficult to find work?

    You haven't seen my CV! Since the teaching farce, i have had to jump from one temp job to another temp job. Employers have told me they're worried that I won't be staying long with them...Can't win!

    Volunteering:
    Volunteering sounds like a great idea. One I am actively looking into.

    Hey guys, again thanks for your comments and sage advice.
    I REALLY DO APPRECIATE IT :T

    Robert
  • Storm
    Storm Posts: 1,749 Forumite
    Debt-free and Proud!
    When putting temp work onto your CV, only put the name of the agency & the times rather than all the individual jobs - this way it shows that you were with an agency for 6 months say, rather than loads of places for 2 weeks! Also make sure it's very clear that these were only ever temping jobs.

    The lecturing - I don't want to pry, but did you get any partial credits towards a teaching qualification? I personally teach adult community learning, but my PGCE would qualify me to lecture (if I had a masters!) and also teach in 6th form colleges. Many places will take you on with prior teaching experience and/or partial qualifications as long as you're prepared to get the full qualification.

    Try https://www.nextstep.org.uk for a free careers guidance interview and they'll be able to refer you to local services such as CV workshops too.

    Good luck!
    Total Debt 13th Sept 2006 (exc student loan): £6240.06 :eek:
    O/D 1 [strike]£1250 [/strike]O/D 2 [strike]£100[/strike] Next a/c [strike]£313.55[/strike]@ 26.49% Mum [strike]£130[/strike] HSBC [strike]£4446.51[/strike]@15.75%[STRIKE]M&S £580.15@ 4.9%[/STRIKE]
    Total Debt 30th April 2008: £0 100% paid off!

    PROUD TO [STRIKE]BE DEALING [/STRIKE] HAVE DEALT WITH MY DEBT ;)
  • Storm wrote: »
    When putting temp work onto your CV, only put the name of the agency & the times rather than all the individual jobs - this way it shows that you were with an agency for 6 months say, rather than loads of places for 2 weeks! Also make sure it's very clear that these were only ever temping jobs.

    The lecturing - I don't want to pry, but did you get any partial credits towards a teaching qualification? I personally teach adult community learning, but my PGCE would qualify me to lecture (if I had a masters!) and also teach in 6th form colleges. Many places will take you on with prior teaching experience and/or partial qualifications as long as you're prepared to get the full qualification.

    Try https://www.nextstep.org.uk for a free careers guidance interview and they'll be able to refer you to local services such as CV workshops too.

    Good luck!

    Hi Storm,

    The qualification i have is called Joint Education Board Ict Teaching Level 3. In other words its a joke qualification. I have sent of numerous times for teaching positions, and i either hear nothing back, or get a straight no...put it this way, I have never had an interview for any teaching job.

    No, I am afraid teaching is out of the question. <i'll spare you, i won't go into it>

    I am just looking at other fields.

    Thanks for your thoughts,

    Robert.:cool:
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