First Day of a New Life!!

Catherine674

Hello,

So today is the day I lift my head out the sand and take steps to tackle my debt and stop shredding letters!!

I have counted up what I think I owe, could be more as I said, I never opened letters! I think my debt is around £9000! Some £3000 is for council tax so I know they will be the first one I call Monday morning. The rest of the debt is

£800 Water
Catalogues - 600
BT - 250
£700 - unpaid payday loans for few years ago
£2500 Loan - (original loans was for £1500 in 2007, I paid maybe £600 but defaulted, they recently got back in touch saying I owe £2500)

I may have more that I have forgotten, as I said my head has been so far in the sand I do not know the full extent. I will try to collect all letters to get an amount.

I plan on contacting all of them to try to agree on a payment scheme. I have no rent arrears, and my gas and electric are pretty much up to date so I know my council tax is the main one to get sorted.

My question is, if most of the letters are from debt collection agents, should I contact them for a payment scheme or the company where I originally got the debt from?? Any advice on what to say/do to get them to agree to give me time to pay it off!?

I have quite a good salary, but my Husband doesn't and hasn't worked for 6 years due to illness. Realistically after I pay all the bills, groceries etc, I have probably around £300 spare a month I can use to tackle my debt

I can't take this avoiding letters, calls and door step visits. I want to be able to answer my phone and door without the fear of knowing it's probably a collector.

I need help

Puzzcat

Hi Catherine,


Have you thought about contacting a free debt advice service such as stepchange, payplan or the national debt advice line to see what they advise is the best course of action for you?


Puzz. x

Catherine674

I hadn't, I had just planned on trying to sort this mess myself!

Do you recommend I contact one and go through all my debt with them and see what they suggest?

I feel so much better today just acknowledging I have debt! I have kept it hidden for so long, but I know Must start the journey of repaying and hope for a debt free future!

McKneff

Good for you Catherine, yes, definitely go with one of the free debt charities, the guidance and support is brilliant.


Any debt that you have not acknowledged in 6 years (maybe your payday loan and your loan may come into this) cannot be enforced. Again, the charity will help you with this.


Good luck with it,

sourcrates

Please get advice from one of the free debt charities on this, don't be tempted by these fee paying debt management companies who advertise all the time, you pay hefty fees with these companies, as well as monthly "management fees", and your debts will take even longer to be satisfied.
After seeking advice, you can still go self managed, should you wish too.

Catherine674

Thank you for all the advice, I can't tell you just how much better I feel for finally admitting this and to have help and advice to helps on my way! It's such a relief that a feel giddy lol

So I've been on the Step Change website, I will definitely use this, but should I go ahead now and fill in what I think I owe just to get the ball rolling or wait till I get more letters to know exactly who and what I owe? I am not keen to wait any longer but anxious that I forget some creditors!

Thanks again

Irisis

I'd say it's really important to make sure you're including everything Catherine to give your debt free plan the best chance at succeeding, but likewise the sooner you start the better.

Good luck, and glad you're feeling better already.

System

The debt from 2007, when did you last make a payment or acknowledge the debt? If 6 years have passed then this debt could be statute barred, I'm sure someone more knowledgable will be alone soon to give you the specific information about it

pmartin86

Sign up to https://www.noddle.co.uk/ if you ahven't allready, this is a free credit report service that should give you a rough overview of whats owed and to who etc. Also get your £2 statutory reports from Experian and Equifax for the same reason. This will allow you to build a picture of whats owed to who without waiting for letters etc.

Good luck!

National_Debtline

Hello there,

Welcome to MSE, you've certainly come to the right place. If you ever need to, you're welcome to drop us a line. We also have a wealth of information available over at Nationaldebtline.org

Dennis and I are often here within the forum too, feel free to give us a shout if you have any burning questions!

I think you're right to start with the Council Tax, it's regarded as a 'priority' debt. Local Authorities have a wide range of tools that they can use to recover their money - a very common option for them is bailiff action. Here's a link to further information about Council Tax. We also have an interactive, online advcie system called that can help you through the process, it's very useful.

Most importantly, do make youself at home here. They're a great bunch here on the MSE forums - and many will be able to share their personal experiences with you.

Best wishes,

David @ National Debtline.

Cyberman60

£800 quid owed for water ? I reduced my bill to 90 quid a year from £360 simply by having a free water meter put in. If there are two or less people in a house it is as you can see very cost-effective.