Debt making me feel Suicidal

Jarhead

...

Where to start....

Several years ago I was in a relationship where we didn't really manage our finances.... We had lots of store cards, loans etc etc... In the recession I lost my job (she left) and from this fell behind with payments.... (Everything was in my name) Eventually I decided to seek advice from a DMC (Gregory Pennington).

A plan was put in place and a regular payment with interest frozen was established (great!) I've returned to work although now only earn minimum wage which means I just manage each month....

..... I was in a new relationship and we didn't have any new debts between us but also due to my seveirly messed up credit score (and still running DMP) it meant that any type of a future for us was majorly limited, we couldn't get a flat or mortgage, we couldnt get a car and eventually this became a huge arguing factor and things ended....

So, now I'm here.... Still paying (and will be until my 40's) my credit score so !!!!ed up that even when I finish the DMP and go a further 6 years on to get back to neutral plus a few more years to build up a decent enough score to apply for something like a mortgage I'm going to be knocking on 50!

And by that point why even bother.... I might as well just get in a hole somewhere now to be forgotten about....

It's this type of stuff they should be teaching in schools to help stop the next generation from ending up where so many of mine have

DawnW

Didn't want to read and run. Sorry you are feeling so bad. Please ring the Samaritans if you are seriously feeling suicidal - you are worth more than this.

As for the debt, well, when you are feeling a bit better, I suggest you contact one of the free debt charities, such as Stepchange, as it sounds as though your DMP is with a fee paying company. What they are taking in fees could be going to your creditors to pay off your debts quicker. Their web address is http://www.stepchange.org/ if you want to check them out before making contact.

I hope you feel better soon.

summerlady_2

Please don't consider suicide over a debt, no matter how overwhelming it may seem.


You are paying it off on a minimum wage job, which is an achievement.


In time, you may well be earning more, which will enable you to pay down the debt quicker or give you a little leeway to save a bit towards a car if you really need one.


You may not be able to take on a mortgage just yet, but that needn't be a deal breaker for a relationship - you sound as if you've been unlucky.


Your value as a human being is not determined by what you owe or own or earn.


I agree that money management should be taught to children from an early age.

Ilona

As Dawn said, you need to dump Greg Penn, some of the money you are paying them is going into their bank account and not to paying off your debts. Contact Stepchange, it's a charity, they will help you, and it's free.
Ilona

Jarhead

DawnW wrote: »

Didn't want to read and run. Sorry you are feeling so bad. Please ring the Samaritans if you are seriously feeling suicidal - you are worth more than this.

As for the debt, well, when you are feeling a bit better, I suggest you contact one of the free debt charities, such as Stepchange, as it sounds as though your DMP is with a fee paying company. What they are taking in fees could be going to your creditors to pay off your debts quicker. Their web address is *Edit* if you want to check them out before making contact.

I hope you feel better soon.

Does changing to another company mean I'm going to get another 6 months of harassment from my creditors, debt collection agencies and enough post to keep Royal Mail in the black for the next 10 years as that's what happened the first time I did this? Also, as far as I understand I can't run two at the same time so I must close my current one, break what I have in place with the creditors, wait 6-8 weeks for the new plan to be sorted and new offers to be established (if accepted as I'll have broken my agreed terms and "could" face court action) meaning I fall even further behind and get the joys of seeing our local collection "squad" at my door.... It sounds good on paper but in reality it doesn't seem to play out as simple as just change unfortunately

summerlady wrote: »

Please don't consider suicide over a debt, no matter how overwhelming it may seem.

You are paying it off on a minimum wage job, which is an achievement.

In time, you may well be earning more, which will enable you to pay down the debt quicker or give you a little leeway to save a bit towards a car if you really need one.

You may not be able to take on a mortgage just yet, but that needn't be a deal breaker for a relationship - you sound as if you've been unlucky.

Your value as a human being is not determined by what you owe or own or earn.

I agree that money management should be taught to children from an early age.

But it's not an achievement, I'm not really achieving anything other than mulling along through life for what seems like forever in just a daze of work>pay debt>work>pay debt over and over, at least I know what the next 10+ years are going to look like, so you could say I have a 10 year plan ahahahah - please shoot me

At the moment I get three busses (2 different services) to work, my working day starts at 05:12 when I catch my first bus and ends at 21:27 when I get off the bus back at home, it's fairly depressing really - at least I can't go anywhere to spend the little bit I earn

It seems to be a hefty deal breaker though, I've got no money, no car, a !!!! job and a nice chunk of debt around my neck, I'm sure you can picture me beating them off with a stick! Unfortunately we live in a world where the above are very much how we are measured as a human being

Blue_Bird

The fact you're still here is an achievement - when things are so overwhelming you need to realise that just facing the next day is a victory that you should be proud of. I'm not great on the technical side - others that are will be along to help, but if these debts are very old can they not be CCA'd..?

Please consider contacting the Samaritans initially and then Stepchange. Fee paying DMP's are just taking a cut of your very hard earned cash.

Very best wishes to you, and keep on keeping on; you don't realise what you mean to other people.

Ilona

Jarhead wrote: »

Does changing to another company mean I'm going to get another 6 months of harassment from my creditors, debt collection agencies and enough post to keep Royal Mail in the black for the next 10 years as that's what happened the first time I did this?

At the moment I get three busses (2 different services) to work, my working day starts at 05:12 when I catch my first bus and ends at 21:27 when I get off the bus back at home, it's fairly depressing really - at least I can't go anywhere to spend the little bit I earn

I'm sorry, I can't answer your first question, but someone will come along shortly with more knowledge than me.

Is there any chance that you can look for a job nearer home? The time you spend on buses is adding to your distress. To make it more bearable can you listen to talking books, or read a book as a way of distraction?

If you post up a Statement of Affairs the good people on here can make some suggestions as to how you might be able to free up some money by tweaking it.
http://www.stoozing.com/calculator/soa.php

Your situation might seem impossible at the moment, but there is nothing that can't be solved. Read the threads on here, you are not alone, there is a way through the maze that you find yourself in. Today is the first day of spring, the sun is shining, look on this as the day you start to pull yourself out of that hole. Keep posting on here, there is a lot of support that can help you. Stepchange is your best bet, and you can speak to the Samaritans, they are there to let you get things off your chest. Best of luck.
Ilona

lessonlearned

Hi Jarhead

Didn't want to read and run.......

Can't really add much practical advice to what has already been said.

I agree with Ilona -cutting down on your travel to and from work would be a huge help to you if you can swing it. in the meantime try to while away the time by listening to music, talking books. I used to travel a lot for work and had one of thise portable DVD players so would watch a DVD . I suppose nowadays you could watch something on a tablet maybe - sorry I'm a bit of a technophobe but I'm sure there might be something.

Then if you manage to live closer to work you could either walk or cycle. Healthy and free.

You may not believe this but there will be light at the end of the tunnel - you just can't see it yet, but believe me it's there.

And.....I dont wish to sound flippant........but ultimately it's "only" money.

My husband got sick and we ended up £30k in debt. My husband died.

I have now cleared the debts but trust me when I say this I would rather have the debt back and my husband alive and well than be debt free..........

Life is precious - don't give up. Get help, See your GP, speak to the Samaritans, confide in someone you trust. There will be people who care about you.

I agree with Ilona - it's a beautiful day - go for a walk in the sunshine.

Stay on here, post regularly. Post a Statement of Affairs so people can advise you how to make the most of your money.

And finally, remember - you are not alone.

[Deleted User]

Jarhead wrote: »

At the moment I get three busses (2 different services) to work, my working day starts at 05:12 when I catch my first bus and ends at 21:27 when I get off the bus back at home, it's fairly depressing really - at least I can't go anywhere to spend the little bit I earn

Do you enjoy your job?

I work long hours to make a good salary there is no other way - I can safely say I never please the grandad type people I'm around, one is never good enough because as it is a 'sought after salary' they have high expectations so you see you could earn more and still be thoroughly miserable, I recently whooped inside when I went to covering the work of 2 people that they couldn't actually ask me to work any more hours - just got this horrible feeling I'm started to over spend to compensate - just from the other side of the coin

See money doesn't always get you the type of people you would like to be around

Could the commute facilitate another additional job if you aren't already working extra or a bit of charity work to help you feel good. x

DCFC79

Ditch the DMC and go with 1 of the free options. I'm sure the debt charities will explain the process with regards to changing from the fee paying dmc to say stepchange.

sourcrates

Hi Jarhead,


You seem totally fed up with all of this, and that's understandable.


You don't mention how much you owe to your creditors, have you looked into all your options to deal with this debt ?


If you owe less than £20.000 have you considered a debt relief order ?
there are certain criteria you must comply with, but its worth looking into, if you owe more than this, then there is always Bankruptcy to consider.
First of all you need to start been a bit more proactive about your situation, yes your down, but there are free organisations and systems in place to help you, all you have to do is access them.


Your first move should be to ditch GP, they are doing you no favours, next, have a look on the Stepchange website, they are a free debt charity with access to all debt solutions currently available in the uk, check out which solution would work best for you, then get on and sort your self out, because no one else will do it for you.


Oh, and don't bother about all the letters from creditors, when you switch, they are all computer generated junk, that's all, ignore the trivial, concentrate on finding a solution that will work for you.


Good luck, if you need further help, with any part of what I've said, please feel free to PM me.