Scared to death

Homegrown_Idiot

Hello all,

as the title says, I'm scared to death right now.

I have a hell of a lot of debt, (credit cards, loans), and am at my wit's end. I was until recently serving in the RAF and managing my debts well, but since I've left I've had to rely on credit cards to pay my way - stupid I know! My rent has increased from about £140 a month (including Council Tax, rates etc) that I was paying for military accommodation, to over £700 a month. My pay has increased but not by nearly enough - and the real crippling outgoing is how much I need to pay for petrol (£300 a month) just to get to work.
I work in London and this is the only place I could rent that I could afford, and that would allow me to keep my dog. I can't even consider getting rid of my dog as I was going through a rough patch after coming back from active service in the Gulf, my wife left me and took everything, and the fact that I had to care for my dog was the only thing that kept me together and stopped me from doing something silly.

In February I stopped paying off my credits cards (but not the loan I hold with my bank) because I just could not afford it. I tried to do the right thing by contacting them and saying I would pay it at a reduced rate, but 2 of them (RBS and Sky Card) just don't want to know and have referred me to a debt-collecting agency (which I'm assuming are Baliffs).

I get phonecalls multiple times every night and I'm starting to feel hunted.

Today I filled out a CCCS online form that has given me a reference number and phone number to call, which I will do tomorrow, but what I want to know is will they be able to help? If I end up paying all of my wages out to my creditors what happens when my car needs an MOT or repairs? If I can't keep the car on the road I can't get to work, and if I can't get to work I'm stuffed! And what happens if the bailiffs take my car?

I'm sorry I'm rambling, but as I said I'm absolutely terrified:( Please tell me I'm doing the right thing and that CCCS will help?

ltm07

Hi & well donefor posting. Can't help you much myself,but there will be plenty of good people on here who be able to,so please stick around. All the best!

bandraoi

Yes you're doing the right thing talking to CCCS.

The credit card companies are only ringing you so often because they know that legally there is very little come back, and what come back they have is costly and difficult. There's no need to be scared of them, they can't take your money unless you give it to them or the courts order them to and the courts takes AGES and won't order you to pay more than you can afford, they can't send you to prison . . . at this point all they can do is ring you and ring you and ring you, and if you ask them to stop they have to.

In the meantime, why don't you work out your incomings and out goings and people here will tell you what to cut back on, and how to work things out.

Cleosmum

Can you do an up to date statement of affairs, we can see if there are any areas that you can save money. http://www.makesenseofcards.com/soacalc.html is a handy site to use to compile it.

CCCS will be able to help and guide you. Do some reading up on your rights re bailiffs, I am almost certain they cannot just come and take your car, even more so as you use it for work.

Pay each of your creditors a token payment each month, even if they are refusing to accept it. Set up a standing order to them, rather than DD or card, that way you are in control.

And dont panic!!!

Homegrown_Idiot

bandraoi wrote: »

In the meantime, why don't you work out your incomings and out goings and people here will tell you what to cut back on, and how to work things out.

Thanks for the encouragement. I'll work out outgoings etc and post them on here (tomorrow hopefully), but I'm not sure on what I could cut back on - I've stopped smoking and drinking, and I don't go out except to go to work.

Homegrown_Idiot

Cleosmum wrote: »

Can you do an up to date statement of affairs, we can see if there are any areas that you can save money. http://www.makesenseofcards.com/soacalc.html is a handy site to use to compile it.

CCCS will be able to help and guide you. Do some reading up on your rights re bailiffs, I am almost certain they cannot just come and take your car, even more so as you use it for work.

Pay each of your creditors a token payment each month, even if they are refusing to accept it. Set up a standing order to them, rather than DD or card, that way you are in control.

And dont panic!!!

Thank you - I'll get reading about bailiffs and get that form filled in. I'm on a really good wage, £35,000 a year, but these debts just seem huge!

shinyhead

HI,
CCCS should be able to help you out, they will want to know about your income and regular expenditure. I know you're worrying about the car and its costs but the cost of running it as you need it for getting to work will be included in your expenditure CCCS will talk it through with you.

A debt collection agency are NOT bailiffs, although they will make out that they are. You are a long way off that yet. A couple of rules when dealing with debt collection agencies, known throughout these threads as DCA's:

They will constantly call you on your phone. You do not have to accept this. You can simply ignore them or write to them telling them that all communication is in writing only. People who work for DCA's are very clever on the phone and once they get you talking can manipulate you and talk you into making payments you won't be able to keep. If you need a sample letter then take a look at the National Debtline website and they have one suitable for this.

They will also threaten you all imaginable things but mostly these are threats.

I can understand how you feel at the moment but don't worry there are loads of us here on this forum who can help and reassure.

Homegrown_Idiot

Thanks to all of you so far. It's nice to see that there are people out there that genuinely want to help - as far as I can see it my creditors aren't included in that statement.

I feel so ashamed at the situation I've gotten myself into.

Seaxwyn

Hi and welcome, Homegrown

Stop beating yourself up about this - there are loads of us on here who have got ourselves into stupid situations but the fact is, we're all dealing with it now. By contacting CCCS you have started to turn the situation round and they will help get the creditors off your back. They will help you work out a realistic budget, including MOT and car repairs etc, and what is left over - and no more - can go to your creditors.

Keep posting here, it's a great place for moral support and ideas.

doelani

Well done in contacting CCCS and do not beat yourself up. Many of us have been where you are. When we contacted CCCS we had £110k of debt so believe me I know how scarey it is.

You have taken 2 big steps, contacting admitting to youself you need help and asking for it.

When you phone CCCS tomorrow they may only take basic details and arrange another telephone interview when you will need all your income and expenditure details. This is how it was a few years ago when I contacted them. Listen to the advise they give and do not think because you earn a good salary you should not be in this situation, this happens and now the importnat thing is to take the advice you are offered.

Keep us posted and try to post your SOA, even if you think you cannot cut back on anything another perosn looking at it may see something you cannot.

Good luck

wickatre65

It might be worth you talking to SSAFA (soldiers sailors airmen Families association)they might be able to help. At least keep them in mind if you do end up with problems with your car. Have worked with them in the past and your situation is a fairly common one.