6k in debt and just no hope

eyeopener2

Hiya

Before I get onto the payday loans...what is the British Gas debt?

Payday loans are not scary, although they like you to think they are. While you sort your budget, and I would advise speaking to stepchange or national debtline to ask for advice, you can then offer an amount. Even if it's only a £1 each, it's shuts them up for a while so you can gather your thoughts and decide how you want to play it.

A formal dmp May be the way forward (well, they are actually informal but it gives you a good structure to pay them back ). I say that as someone who has done it, payday loans and everything, and dmps do work. Ideal in your fragile situation. Managing the debt yourself is a good way but it does take strength to deal with the lowlife in call centres telling you lies about losing your house, or job or bailiffs coming round. If your strong, do it yourself, if not use stepchange, payplan or cap.

So talk to the professionals would be my advice, and you will be debt free before you know it. If it takes 2years or 5 years, it does fly by.

Nice one on stopping the gambling.

chelle1981

Hi, I would definitely suggest that u call stepchange or payplan- I have a dmp with payplan and have found them to be brilliant- I recently had a major wobble but payplan have been really helpful and got my back on track call them on 02034322993- they even call u back straig away so they are paying for the call- it is one of the hardest things to realise u r in debt and need help but once u have made the call and made your first payment it is such a relief.

On here we have all been in ur situation but we are now all on the debt free journey and couldn't have done it without the support from people on here-

I'm off to the board I just read about of making money- good luck making that all important phone call

DanFish

eyeopener2 wrote: »

Before I get onto the payday loans...what is the British Gas debt?

Its arrears from a previous address.

Called my energy provider and turns out i'm £40 in credit not a lot but every penny counts at this point.

Managed to avoid betting on the National so really proud of myself for that

Went on StepChange website earlier and went through their Debt Remedy thing they have advised that a debt management plan is probably the best way forward. i will be calling them later today to get this in motion and find out what information i need to gather.

Feeling very optimistic today, just opening up on here has made me feel like a weight has been lifted

sickasachip13

Hi DanFish,

Good to see that you're feeling more positive about it all. I'd recommend the DMP route too. I went with Stepchange, and there's an article online I did for Stepchange back when I got started: http://moneyaware.co.uk/2011/09/my-debt-hell/

All the best, SAAC

Little_Miss_Winner

How you getting on?

DanFish

Little_Miss_Winner wrote: »

How you getting on?

It's going quite well. Apart from one creditor who has recently registered a CCJ, they say they can only accept a 6 month installment plan which i'm sure is just lies.

I'm now digging out the endless number of account references

Gone through all my income and expenses and i have £190 a month to pay to creditors so if all goes to plan i should be debt free in 2 years and 8 months

I'm going to try and get some overtime when it becomes available and make some overpayments along the way.

I'm gonna try and update the thread as often as possible and hopefully people in the same situation can relate to it and hopefully find the drive and determination to be debt free.

I'm no longer worried about the debt i'm feeling really confident about finally dealing with them rather than brushing them under the carpet.

Onward and upward

satchmo1

Great to hear you're feeling so much more positive, and well done for facing up to and making solid plans to end your debt spiral.


Are you still being telephoned by debt collectors? If so, tell them calmly and politely that you will only deal with matters by letter, and hang up. Keep doing it until they get the message. That's MSE and DMP advice.

DanFish

satchmo1 wrote: »

Are you still being telephoned by debt collectors?

I've written and emailed to the ones that have been pursuing most recently.

CapQuest have removed my work number(so they said when i last contacted them) i havent received any more calls at work which is a relief.

I'm just getting round to contacting them all and explaining the situation, just doing all i can to keep them informed and letting them know that i am not avoiding them and that i will start making payments soon.

Like i say im very optimistic now and all the worry seems to have disappeared as im in a mindset now that this mess can and will be cleared.

I'm on the debt free journey and nothing is going to stand in my way

In_Debt_Bet

Hi Dan

What a difference between your first post and your most recent one! I just wanted to wish you lots of luck, look forward to further updates.

All the best

Bet x

DanFish

In_Debt_Bet wrote: »

What a difference between your first post and your most recent one!

All thanks to this website and the lovely people on this forum, i honestly wouldnt be in this new mentality if i didn't start this thread.

A big thanks to everyone for the support

Even when someone just pops up to say good luck it gives me a massive boost.