Debt

shinyhead

You are definitely not alone in this forum MaryB. Take a look through the threads and you'll find this out. IMHO you really need to talk with the debt charities over the phone. I'm with CCCS.

Bankruptcy no longer has the same social stigma as in the past. I suggest you have a look at the bankruptcy threads in the sub-forum.

Miss_Marple_2

Hi Mary - Welcome to the board. Please don't despair - there will be something you can do to get help.

Can I ask if you are paying PPI on your loans & CCs as well as income protection ? If so - you are paying double. I can't really give advice as I don't know much about the legal side of things - but if it were me, I would stop PPI on everything. It was the first thing Payplan told me to do - and when I really looked at how much PPI I had been paying on each of my cards & my loan - it was a real shock. Payplan also told me that the PPI would be invalid if I was in arrears or not making full payments, anyway

MARY_B_3

I Have Spoken To National Debtline Cccs And Payplan Who Couldn;t Really Advise Me . I Don't Want To Lose My House I Can Pay My Mortgage I Just Can't Pay All The Minimum Payments On My Unsecured Debts I Can Pay All The Creditors Something.isn't Worth Writing To The Creditors To See If They Will Stop Interest And Charges And Try And Get As Much Money As Possible From Me Even If It Takes Years. The Trouble With The Debt Charities Is That They Expect Me To Live On To Much Money For Food And It Is Not A Realistic Amount For My Family. I Can Live On £300.00

MARY_B_3

We Only Have Ppi On The Loan

GeorgeUK

As the house seems to be your biggest concern, did a little more hunting.

With an IVA
http://www.insolvencyhelpline.co.uk/individual_voluntary_arrangements/iva_is_my_home_protected.htm

With Bankrupcy
http://www.insolvencyhelpline.co.uk/bankruptcy/what-will-happen-to-my-home.htm#home1

Please talk again to the charities and stress that this is your biggest concern. Hopefully they'll be able to advise a route you can take. Let them know what you have been living on, but only if you haven't been relying on CC's etc. You will not be able to do so if/when you start your repayments.

Miss_Marple_2

MARY_B wrote: »

We Only Have Ppi On The Loan

Ah well - it was a good try.

You could always go for a self administered DMP. There's a few people here who do that. I was grateful to Payplan for putting my I&E together and contacting all my creditors - but no reason you can't do it yourself.

10past6

MARY_B wrote: »

We Only Have Ppi On The Loan

Hello Mary

Try sending this to your creditors:

Your address

Dear Sir/Madam

Re Account No/Reference No:− XXXXXXX

Since making that above agreement with you, our circumstances have changed.

We cannot now afford to agreed monthly payments because XXXXX

We enclose a Personal Budget sheet which shows our total income from all sources, and our outgoings.

As you can see we have only £XXXX left for our creditors. The offers we have made to our creditors have worked out on a pro−rata basis, and we have written to all our creditors asking them to accept reduced payments.

In view of our circumstances, please would you agree to accept a reduced offer of £XXXX.

If interest or other charges are being added to the account we would be grateful if you would freeze these so that all payments made will reduce what I owe you.

Should our circumstances improve we will contact you again.

We would be grateful if you would send a paying−in book to make it easier to pay you. Thank you for your assistance. We look forward to hearing from you as soon as possible.

Yours faithfully

MARY_B_3

Thanks For Information Payplan Gave Me Some Letters To Print Out. Has Anyone Had Any Sucess Doing Their Own Dmp. Have Any Creditors Been Sympathetic And Agreed To Stopping Charges And Interest ? I Need To Know If It Can Work. Surely Some Money Back Is Better Than None At All. If I Can Pay The Creditors Something Every Month Will I Have To Go To Court That Is Something That Will Really Scare Me

Miss_Marple_2

MARY_B wrote: »

Thanks For Information Payplan Gave Me Some Letters To Print Out. Has Anyone Had Any Sucess Doing Their Own Dmp. Have Any Creditors Been Sympathetic And Agreed To Stopping Charges And Interest ? I Need To Know If It Can Work. Surely Some Money Back Is Better Than None At All. If I Can Pay The Creditors Something Every Month Will I Have To Go To Court That Is Something That Will Really Scare Me

Hi again Mary. Pop over to the DMP support thread and post the questions you raise above - I know that there are quite a few whjo post on there who do their own DMPs, so they will proably know the answers

Miss_Poohs

Hi Mary - our debt total is much the same as yours and like you I desperately want to keep our wee house.

My husband earns enough to pay the mortgage, and the regular bills - it's all the secret debts (that I've just found out about) that are creating a problem.

Unfortuanately the debt is all my husbands and he's not very forth coming with all the gory details that we'll need to get some sort of solution for this.

I'll be on the phone tomorrow to some of the debt agencies - I just can't go on like this.

Good luck.