I'm here, but I'm so scared!

Lynxe

Hi all, scared little newbie in the corner! Please let me tell you a little about myself.

I'm a 29 year old who managed to get in a lot of debt while credit was high, and then stuck my head in the sand over it all for a number of years. Since then, I've cycled between admitting I'm in debt and dealing with it (usually when money is good) and then ignoring it all and pretending it will go away (usually when money is bad!)

In February this year I lost my job and it badly affected my mental health. In among that, my relationship was still fairly new, and my partner and I were still finding our feet and she was still going through a custody battle for her daughter with the ex. Since then, things have settled considerably with both of us back in work (although I can only manage part time due to my health) and with full custody of daughter. Partner has only been working a month but with us both working, it's finally time to face up to the fact that I desperately want to be debt-free. We both do.

In light of this, we are starting a household budget in the New Year, and having done it several times in the past I'm not concerned about that or SOA's or the such - I know where money comes from, I'm secure with where it goes and I'm happy that I can calculate repayments and help myself (with support) to become debt free! I just need that little nudge and help every now and then.

I have several worries, though - other than the primary "OH MY GOODNESS I WILL NEVER BE DEBT FREE ARGH!" Haha!
Having looked at all three of my credit reports (Experia, Equifax and CallCredit - Via Noodle), I feel there are debts missing! (Should I really be complaining?!) For example, I had a car loan that in my mind has about £2,000 unpaid still outstanding - But I cannot find it, or any record of it (settled or otherwise) on any credit history. Equally, I have a debt with Vodafone that I thought had around £200 outstanding, and all my reports are reading it as settled.
Should I be querying these? If so, who with?!

I'm so looking forward to all this being over...!

12_month_challenge

Hi Lynxe

I'm glad things have settled down for you

You have definitely come to the right place. Take a look at my signature :eek: You are certainly NOT alone.

When I first plucked up the courage to admit I needed help I joined this site and have not looked back.

The honest non judgemental advice I have received is worth its weight in gold.

I use the snowball calculator to chip away at my debt. Have You looked at this method
http://www.whatsthecost.com/snowball.aspx

Others will be along with more practical advice but wishing you the best of luck

Candy0107

Hi,

Welcome to the forum, there was a time that I thought that I had too much debt and wioll I ever get there? The answer was of course yes I did get there (it took a long time).

If I were you, I would post a SOA (see one of the stickys on the top of the thread), have a chat to Stepchange (or another non-fee debt charities) and keep on plugging away at the debts.

You'll get there ! I found the 'small things' board really helpful.

Candy

sourcrates

Hi,
There could be a few reasons why debts don't show up on your credit file, the most common one is because the account is more than 6 years old and, as it's not been paid for a while, would of fallen off your credit file.
You would have to wait until someone wrote to you about these accounts, to find out any more about them.

A common reason for a debt to be shown on your file as settled, when you know you haven't paid it off, is that the original creditor may of sold on the debt to a DCA, who will, in due course, more than likley contact you.

Lynxe

sourcrates wrote: »

Hi,
There could be a few reasons why debts don't show up on your credit file, the most common one is because the account is more than 6 years old and, as it's not been paid for a while, would of fallen off your credit file.
You would have to wait until someone wrote to you about these accounts, to find out any more about them.

A common reason for a debt to be shown on your file as settled, when you know you haven't paid it off, is that the original creditor may of sold on the debt to a DCA, who will, in due course, more than likley contact you.

Thanks- I did wonder if this would be the case! I don't want to sit around twiddling my thumbs on this, I would rather tackle it head on! Alternatively, I've certainly got enough to be starting with at least!!

sourcrates

Lynxe wrote: »

Thanks- I did wonder if this would be the case! I don't want to sit around twiddling my thumbs on this, I would rather tackle it head on! Alternatively, I've certainly got enough to be starting with at least!!

I don't know if it would be relevant, but bear in mind the limitations act 1980, any account not paid or had written acknowledgment in six years, may be statute barred.

Always try to check before having any written contact with creditors on these older debts.

LolStevo

Welcome! I am also 29 and been here a few times however its the first time I can properly tackle my debts now that I'm working full time!


Well done for taking the step and think this time next year you will be so much better off for it

Lynxe

sourcrates wrote: »

I don't know if it would be relevant, but bear in mind the limitations act 1980, any account not paid or had written acknowledgment in six years, may be statute barred.

Always try to check before having any written contact with creditors on these older debts.

Pardon my ignorance, what does this mean?

glentoran99

Lynxe wrote: »

Pardon my ignorance, what does this mean?

It means you don't have to pay it, If you haven't made a payment or have had no contact from them in 6 years they cant make you pay it

Bobarella

Good luck to you clearing the debts. It sounds like you've truly had your light bulb moment and now can tackle things.

sourcrates

Lynxe wrote: »

Pardon my ignorance, what does this mean?

Well you mentioned some accounts are not on your file, so may be more than 6 years old, as glen has said above, you can't be chased for debts forever, the limitations act 1980 allows creditors 6 years (England and Wales) to recover consumer debts, if you've not paid, or written admitting liability in 6 years, the debt may be statute barred, and you can't be made to pay it by action through the courts.

It was just for your information, as I said, I wasn't sure if it was relevant to your situation or not !!