DMP mutual support thread part 13 !!

ditty1234

Having had the guts to actually do something about my debt and setting up a plan with Stepchange, I just need some encouragement to go and look at my credit rating! I have actually no idea when things were defaulted and how long there is left to run. I have, I'm afraid, reverted to 'head in the sand' pose as I'm too scared to take a peak!

You can use the credit club on mse - it's free. I have used it to check amounts and to defaults. Just don't look at your credit score - it will be low.

Suseka97

purplepaws wrote: »

...........I just need some encouragement to go and look at my credit rating! I have actually no idea when things were defaulted and how long there is left to run. ........ I just can't face looking.

Ignore the actual score (which will be low, as has been said) - at the end of the day that number means very little. Your main interest should be to ensure that your accounts have been defaulted, and in a timely manner. If not the impact on your credit file could potentially be much longer than you anticipate. You can sign up for Credit Karma (formerly Noddle/Call Credit) as well as the credit club on MSE - both are free (as are others) and differ CRAs show things slightly differently, at least in my experience.

So - do go check and make sure those defaults are accurately recorded.

Whatamidoinghere

Hi all not been on here lately it's just an update I've been in my dmp with sc since February first payment March and have paid £2600 off my debts and feeling good. Quick question though Two of my creditors are still marking my debt as late payment others have defaulted, do I leave it a bit longer or should I ask them to default.

Willing2Learn

Whatamidoinghere wrote: »

...Quick question though Two of my creditors are still marking my debt as late payment others have defaulted, do I leave it a bit longer or should I ask them to default.

Make an official written complaint, asking the two creditors to default the applicable accounts, backdated to when you were 3-6 months in arrears. This would be in accordance with ICO guidelines, although your creditors are not compelled to comply. If they decline your request, then you can escalate your complaint to the ICO. If that still does not bear fruit, then I would recommend dropping your payments to them, to £1/month, until they do default the accounts.

And well done on having knocked off 2.6K of debt already.

Rolacolapink

I’ve been a member of this forum for 10 years and finally this week I have plucked up the courage to admit to myself and my poor husband that I have credit card debts of £34k over many years and fallen behind with payments.

I cannot actually believe this is something I have done it’s such a bizarre feeling I feel like I’m taking about someone else - or dreaming it! What is wrong with me!

So just before I fessed to my husband who’s credit rating is absolutely perfect I contacted step change who then put me onto business debt line as I’m self employed. They have been amazing and made me feel confident I can deal with this problem by explaining all the options available to me. Yes my husband was aghast with the news. His face went grey and my heart wrenched as I explained why I’m in the pickle I’m in. Basically just relying on debt to make up for income shortfalls and not budgeting - at all. He’s so good with money and supports us all, us and our two children. I do pay towards the bills but have also been working from home to ‘be there’ for our children essentially bringing them up like a stay at home mum but caring for other people’s children as well. I explained to my husband what steps I am taking to deal with this debt (1) he and his finances/credit score will not be affected (2) I will repay the debt all by myself with a DMP (3) I will give him any ‘spare’ cash to put towards the household bills etc in addition to what i give him now (4) I will remove myself from our joint mortgage as we need to remortgage and my credit rating is trashed. I’m absolutely mortified with what I have done, it has been showing for some time with skin rashes, short temper and we very rarely do anything together as a couple. I’m cross he didn’t notice any changes in my behaviour if I’m honest but obviously not the debt although we never talk about money. I just want to crawl into a hole anytime he broaches the subject. Don’t know how we will get through this he is quite rightly so so angry and not talking to me. I’m a strong person though and determined to pay off my problem with the satisfaction hat I have achieved this at the end and budget like a pro going forwards. Thank god there is help out there!

Big hugs to anyone else going through a similar situation - it’s bloody awful!

Willing2Learn

Rolacolapink wrote: »

I’ve been a member of this forum for 10 years and finally this week I have plucked up the courage to admit to myself and my poor husband that I have credit card debts of £34k over many years and fallen behind with payments.

HI, just wanted to say well done on reaching your light-bulb-moment. Taking your head out of the sand and putting together a plan is half the battle.

Why not start a diary, so that you can chart your progress? It can be really motivating too. You'll get loads of support and ideas to help you move forward in your life. The link for the diary boards is below:
https://forums.moneysavingexpert.com/forumdisplay.php?f=177

Rolacolapink

Thank you, I will do just that

df1111

Thank you in advance for your advice. I’m currently in debt with four credit cards. I became very ill a few years ago & they froze them for a while but now three of them have defaults. I’m looking into the best way to set up a debt management plan & I've never done one before so all advice much appreciated. Thank you.

purplepaws

Wow Rolacolapink you are a braver woman than I!
My heart was in my mouth when I read your post. I'm £14,000 in debt and my husband doesn't know. He has his own debt problem partly due to MH issues and I got into debt trying to run the house and bring up the kids, pretending that everything was ok so not to worry him whilst he was ill and not earning. It's so easy to keep borrowing and think that it will be ok soon but before you know it, the debt has pilled up.
I feel I should tell him, as I hate lying about it but still keep hoping that I can clear it without him knowing.
Well done for being honest. It must be very difficult at the moment. I hope that by showing your husband that you have put everything in place to make amends that he will eventually calm down and support you.
Good luck and well done x

purplepaws

df1111 wrote: »

Thank you in advance for your advice. I’m currently in debt with four credit cards. I became very ill a few years ago & they froze them for a while but now three of them have defaults. I’m looking into the best way to set up a debt management plan & I've never done one before so all advice much appreciated. Thank you.

Hello & welcome.


Really quick first steps, that you can do today:
https://www.stepchange.org/


or


www.payplanplus.com


You can plug in all your details online, to get a feel for what solutions are available to you.


Also have a read through https://nedcab.cabmoney.org.uk/ first. Most people here start by looking at this site - it is a really valuable resource and, if you feel up to it, a great place to set up your own self-run DMP. Loads of letter templates that you can personalise - get them printed off and sent today!


The main thing is, don't be afraid. Even though we all have a wobble now and again, I think we would all agree that actually doing something towards tackling the debt problem makes a huge difference to your quality of life. The debt is still there but the feeling of dread every time a letter comes through the door soon goes away as you know that its going to be a helpful letter (most of the time) rather than a demand for money!
GOOD LUCK and come back if you need more info.
DMP launched 04/07/17 left to pay = £15,596.29 (£16,982.82 original debt.) Thanks to MSE & all you wonderful Forum Peeps!:T