Im scared

Fosterdog

If your wage changes that drastically try doing a budget based on your lowest possible income and one based on your highest, then settle in the middle for you actual budget and debt repayments.

That way it will leave you with a surplus at certain times of the year which can be used to cover off the shortfall at other times. If it ever builds up to a certain amount (say £500 or £1000) and you know you will have a good wage for the next few months pay off a lump sum from the debt with the highest interest.

scaredandalone_2

Thank you I have looked at finances lowered what I can lower etc and if i budget its possible to get by but if car breaksdown etc I have nothing I'm scared to go in dmp and at this moment in time just thinking I will give myself a couple of months to see how I get by.

eyeopener2

Why are you scared to go into a DMP? They work, I can testify to that, you get relief from wondering where your next meal is coming from, you budget for everything (and if your car breaks down you may be able to have a month off paying or reduce your payment with stepchanges guidance).

The danger is that you limp on for a couple of months and find your self in a worse situation - been there bought the t shirt.

You were worried enough to come on here and ask for help, and you've contacted stepchange, so what's changed in the past few days to make the situation brighter?

Maybe it's worth a talk with somebody at National debtline, they are rd all good and helpful, as are stepchange and pay plan.

Don't just soldier on because your scared of a crappy creditor, they are toothless idiots. Do what's right for you and your children.

You will be fine, trust me, just ask for proper advice from professionals. I made it through, so can you.

scaredandalone_2

I'm scared of going into the DMP becuase of going into arrears, I have yet to be in arrears occasionally been late due to forgetting the dates for what ever reason.l Also because I have used the catalogue since but at the time honestly thought I was going to be OK and was going to cope absolutely fine.

I don't like the thought of been harassed or people turning up at the door especially when I'm on my own with three small children.

I have looked at borrowing the extra against the mortgage but because the other person on the mortgage ( a very close family friend who is like my brother)is living elsewhere and has expenses they wont approve it yet the repayments over 10 years would be a third of what I'm paying at the moment.

I just don't know what to do for the best but its causing me so much heart ache and stress :-(

scaredandalone_2

Also to say I am taking control not huge steps but have had £5 in my purse and resisted spending it on the normal things I would like bottle of pop here there etc and this week I will go to shop and only buy what I need!

graham.milne

i need some help i need to know if all the debt i have would leave me if i moved areas e.g (scotland down to london) or should i wait until it becomes a barred debt because its too much debt i have somebody please help me my debt is all basically contract phones internet bills loans had plenty of collection letters already and im stressing about it

lynz68

Graham I suggest you start your own post rather than tag on to someone else's to avoid confusion with different situations also post SOA.

Your debts will not leave you and even if you avoid your creditors for now your credit record will be ruined and if they catch up with you anytime in the next 6 yrs payments could be enforced.

StuC75

Who wont approve it? the lender or the other person on the Mortgage? Since they would be joint & severally liable for the payments then anything that reduces those payments would be in there best interest?

scaredandalone wrote: »

I have looked at borrowing the extra against the mortgage but because the other person on the mortgage ( a very close family friend who is like my brother)is living elsewhere and has expenses they wont approve it yet the repayments over 10 years would be a third of what I'm paying at the moment.

I just don't know what to do for the best but its causing me so much heart ache and stress :-(

eyeopener2

Nobody will turn up at your door, forget these scare stories put around by low life debt collectors.

You say you've never been in arrears but you've resorted to eating toast,? How long has that been going on for, how many times have you had nothing? Creditors getting their cut before your eating properly is just plain wrong. With a payment plan everybody wins, you get to live and your creditors get their bit. It's worked for 000`s of people with no problems.

I beg you to speak to the professionals, what have you got to lose? And what's your alternative plan? I realised I didn't have a plan b, there was no magic way out so I bit the bullet and contacted stepchange/Cccs. It worked.