Please help - in debt and ashamed

debtman2007

Hi, my name is Martyn.

Not really sure what im expecting by posting in here, maybe some reasurance all is not lost.

I have 24k of unsecured debt(credit cards and overdraft).
I know i should post an SOA but just looking/writing out the figures makes me feel physically sick. I earn £22,500 a year.

Today i have discovered the CCCS, should i contact them asap??

Currently i'm basically living on credit(after household bills are paid) and using balance transfers to counter each CC card.

My biggest concern is my mortgage. This is a joint mortgage with my partner. All my credit card debts in are my name only. Am i likely to lose the house??
Also i bank with Lloyds and they have started to take money directly from my current house to pay for my lloyds credit card. i didn't know they could do that. I have today opened a new current account with HSBC and hope to have my wages paid into that. Another area of concern is that out joint account(where all the household bills are paid) is also with lloyds. Can they touch teh joint account?? All household bills are paid in full and on time every month. It's just my CC's i can't keep up with.

Any advice/!!!! kicking gratefully received

I'm an idiot i know

Floss

Ok, grab a cuppa & sit down :wave:

Read Southern Scouser's sticky for First Timers & post an SOA (statement of affairs).

Then we can look at the whole picture.

Have you told your partner about the c/c situation? How do you feel they would react?

And b.t.w., hello! :hello:

Jacks_xxx

:wave: Hiya Martyn,

Don't be ashamed honey. Most of us have been in similar situation at some point.

The :eek: feeling is very familiar to me, but you need to get past the sick feeling and get all the info together.

WE need it in order to help you effectively, and the CAB, CCCS or Payplan will need it in order to help you as well. (It's going to be the first thing they ask for.)

So grab a cuppa - or a stiff drink and dig out all the paperwork, and make a list of what you owe to who and the interest rate your paying.
(or ring them up if you've been chucking away all the paperwork! )

Then check out SouthernScousers First Time Posters thread:

http://forums.moneysavingexpert.com/showthread.html?t=107280

and get your full SOA together.

You're not on your own hon, and we're all dying to help, but you need to give us all the info first.

I'll look out for your update,

Love Jacks xxx

fatbelly

Hi

1. You're not an idiot

2. CCCS are brilliant and will be able to help/advise

3. I wouldn't trust Lloyds not to touch your joint account. Suggest moving your banking to HSBC as long as you don't have debt to them.

4. Posting an SoA isn't compulsory but it's going to be hard to answer those other questions unless you do.

lindens

Just to let you know you are not alone here, we are all in the same boat!
You really need to do an SOA, which is really really scary :eek: .
BUT, when you have done it you will actually feel relief because you will feel like you have made the first step towards being in control of your debts.
You don't have to publish it on here if you dont feel ready, but the CAB/CCCS will ask for one anyway, so it has to be done.
Having said that I do highly recommend putting it on here as there are very clever people here who can see savings left right and centre!

debtman2007

Thanks for your replies so far.

My partner will be pretty understanding. she already knows i have several credit cards and i use them often but i dont want to worry her with the thought of losing the house, but hopefully it wont come to that??

Ok i really need to do an SOA. Then speak to CCCS.

trying-very-trying

Hi, debtman.
I felt exactly the way you do now, my main concern was the house. After a phone call to cccs, I was assured that our house was safe.
I still worried myself sick, but with their help and all the support advice on this site, I am now feeling that I can do this.
My spending habit for "things" is now dead, and hopefully buried. But I didn't believe that I would be able to stick to the cccs budget, again with using the os forum on here and a few of the challenges, I am starting to feel that I CAN DO THIS and YOU CAN TOO.
The hardest thing is admitting the problem, but you seem to have done that now. So welcome to this site, and like everyone else has said, pop up your SAO and you'll be utterly amazed at the help you will get from the good guys on here.
It can only start to get better.

debtman2007

see the thing is i only want to clear my own personal debt. Everything we pay jointly, electrics/gas/car/mortgage/loan(secured on house) is fine and always paid in full on time. I dont want any of that to change. Just these bl**dy credit cards.

debtman2007

another concern is my job. i love it and love the people but its 100 mile trip a day which over the week is a lot of fuel. all fuel is paid by credit card as i have no disposable income left after i have paid my CC bills. BUT if i work closer to home i have to take a substantial drop in wages. Catch 22 i guess.

debtman2007

Sorry for all the questions but here is another.

Is it possible to work through debt and still have a life. I dont mean going out and drinking every night but i enjoy going to football and we occasionally go out for meals/parties etc. Never any holidays and such things though.

floss2

The answer is yes, but within reason.

You may have to cut things down to get on top of the debts, but there's lots of things you can do that are cheap!