Starting a DMP

minjara

I've been on and off these boards for years but after finally getting out of a bad unhealthy relationship and being in a supportive one I've finally stopped being so nervous about stepping up and facing my debts head on.

Compared to some I don't have a lot of debt. Probably totals about 5-6k all together but I still cry and have sleepless nights thinking about how much of a failure I have been and the fact that this happened again when I was such a disappointment to my mum and dad while at uni the first time round..... you think I would have learned.

Sadly no. I got in a bad relationship and to keep him happy I took out payday loan after payday loan. He never worked but wanted the lifestyle of us both working and instead of viewing the relationship as toxic I stayed and did what I thought I needed to do to make the relationship happy.... but it didn't.

I'm now living on my own in rented accommodation. Its compact but suits my needs, its close to work so my costs for getting there are marginal. I've met a wonderful young man who has his own emotional issues that I can relate to entirely and we are supporting each other. Hes persuaded me to take a leap of faith to everything I have been scared about, so I wrote to stepchange and have worked out that between 7 debts at the moment I can afford to pay £67 per month to them. Not a lot of money I know but they have said for what little money the debt is (the largest debter is under 1k) that this is more than enough to divy between them and get the ball rolling.

I know it will take years. Any spare funds I have will go towards paying this off early. I will save and put aside to perhaps consolidate and pay smaller ones off over time..... BUT I finally feel like I could get back in control..... back out of such a bad credit score eventually and finally not feel like such a disappointment.

sourcrates

Hi,
Well done for taking the first steps.
Are you aware you can complain about your payday loans ?

If they were unaffordable to you, like it seems they were, you can write and complain about them.
Many people, inc myself, have done so, and are doing so.

You can get interest and charges refunded, and in some cases the outstanding balance written off.

All it takes is a letter or email to each lender, lots of info for you here :

http://debtcamel.co.uk/worried-about-debt/payday-loans/

May help your situation a little !!