Newbie, deep in debt.

Tot_3

Hi ther everybody, wanted to say hello and that after being leeching here for a while have now had my LBM good and proper and am wanting to sort things out. I've spent the last 10 years accumulating a mountain of debt and have noe reached the point of no return, with no money in the bank and no way my wages are going to cover the DD'd due at the end of the month.

I guess I need some help and advice and this seems to be the place where people really care about helping each other so maybe I can take some of the dvice I'll been reading and use it to help me turn myself around.

I'm gonna try and sort out a proper SOA later on when have done some digging into how much money I owe in total but think that it now tops 50K all together, spread over loans and credit cards and a 2K overdraft.

I'm going to speak with CCCS tomorrow to see what they can do to help me and hope that they will be able to assist me in turning my life around as I cant go on like this, I've been hiding it from my OH ever since we were together and dont know how she will take it when I break it to her, I just have no clue how to go about it.

Basically I bring home about 1500 a month, and pay the OH 650 as she has all the bills and mortgage coming from her account. This is mainly because I moved in with her and she already had everything set up so we figured it was just easiest to leave it that way. My monthly DD's come out the day after payday and total 1300, so the numbers dont add up and never will!

I dont know what to do this month as my OD is maxed out and when I get paid not only will they be wiped out but I'll default on several payments too as there wont be enough.

I know its cheeky to ask on my first post but what should I do with the DD's? Is it best to cancel them all to avoid charges and wait for the calls and letters to start because that is all I can think of doing? That way I could pay the OH for the mortgage etc and still have some money for the month to live on whilst waiting for some help from CCCS?

Thanks guys, I'm gonna be around here alot in the future I think as I've got a lot of learning to do, please be patient and maybe I can offer something back in the future.

Cheers all, Tot.

raq

just wanted to say WELCOME, and yes youdefinately have come to the right place.

Once you have sent your SOA there are lots of excellent advise on here. I personally wouldn't be without it.

best of luck

hayley1471

Hello and welcome. There will be some clever beans along to give you some advice soon I am sure. I think the usual response to paychecks, bounced DD's and bank accounts is to QUICKLY open a basic account for your salary to go into (so you have something to live on) and cancel DD's - I think this avoids you having to pay the bank charges for bouncing Direct Debits.

The bank account needs to be with someone who you don't owe any money too - bearing in mind lots of companies are linked.

Good luck - and does your OH know?

98jdougl

does your OH know about your difficulties?

poorandindenial

Well done for making this first post and welcome to the forum - the people here ar elovely as you will have seen by now.

I think that you are doing the right thing by speaking to CCCS and by posting your SOA, Cancelling your direct debits sounds like a sensible option so that you don't have the nightmare of the charges (which you may be able to claim back in the future but probably don't need the hassle of). Cancelling your direct debits doesn't mean that you won't pay, it will just give you control over who, how much and when. CCCS will then be able to advise you what your options are and will probably suggest that they help you sort out a DMP arrangementn with your creditors. If your direct debits aren't due to comeout for a week or so then it is probabl worth just waiting until you have spoken to CCCS who will help you sort it all out.

CCCS_Matthew was on here earlier (Martin lets CCCS debt counsellors post on the forums to help people in need) and if he still is it might be worth tracking him down with specific questions you might have. The CCCS counsellors all have usernames that start CCCS_.

Good luck and take as much info as you can when you go to CCCS, it will help them to support you in making a decision about what you want to do with your debts.

HHH_2

You've made an excellent start by admitting to yourself you have a problem, coming on here and contacting CCCS. I'm not great with the advice but many people are and will be able to help and support you. As for your OH show her this site she will be amazed at how many people find themselves in a similar if not worse situation but it's not the end of the world. good luck

Wildchild_2

Hello there.

I anyone can help then it's the folks on here. They are great. Once you have posted your SOA there will be lots of great advice from them.

The best of luck!

Tot_3

I havent told my OH yet, I'm too scared to as to how she will take it but I know I've got to brave upto it asap.

Was looking at the Co Operative bank and thinking about opening one of their basic accoiunt with an electron card, then getting the wages put in there to stop them being obliterated, does anyone have any experience of them or know if they are linked to Lloyds TSB?

greengrass

HI, and welcome, well done for finally grabbing the bull by the horns and asking for some help, someone will be along soon with good advice, everyone on here is nice and friendly. Don't worry..

CCCS_Matthew

Hi Tot,

Just wanted to mention that we aren't open over the weekend, but the helpline is open till 8pm tonight if you wanted to speak to us.

Alternatively, you can use Debt Remedy where you can complete a financial statement and be provided with advice on the best way to deal with your situation. It's basically the online alternative to speaking to a counsellor over the phone.

Any questions give me a shout.

Regards,
CCCS

Tot_3

Thanks CCCS_Matthew, I'll be using that link tonight to submit my woes and hopefully someone will be able to shed some light on what I should do next.
This place is already putting a smile back on my face, I've been thinking recently that was never gonna happen.

Thanks everyone.