Am worried sick!!

littlemandy

Im really hoping someone can try and help me.

Im in debt and have buried my head in the sand for too long but today after work I decided to go through the mountain of letters that remained unopened as was too scared to open them.

I opened a letter from MBNA and thought I was gonna be sick when I read it, it was about a "notice of possible charging order on property", what is this?? Will they make me sell my house?

I went on the cccs website and have completed the debt remedy and they recommended dmp, which im happy to do, and sent an email saying the paperwork etc would be with me shortly.

But what do I do in the meantime, im too scared to ring MBNA as I know I will fall to pieces on the phone.

I hope some of you lovely people on ere can try and calm me down a bit.

M xx

Broken_hearted

A charging order won't make you sell your house it just means that if you do they and the mortgage company will take their share first.

littlemandy

Im gonna send token payments to all my creditors tomorrow with a letter about going on a dmp etc so should I still send the same to MBNA?

M xx

facingthefuture

you poor thing. Sorry I don't know much but I have learnt over the past few months that this head in the sand thing totally doesn't work. I still feel sick looking at my "paperwork" and everytime the postman comes but at least there are no new nasty surprises and I feel so good paying off stuff. I have totally lost any inclination I ever had to spend dosh on anything unless its totally necessary. Well done that you are finally facing things, keep making yourself do that. It will get better. This site is seriously life saving. I honestly don't think I could have coped had I not come on here to get incentive and the occasionally "butt kicked".Sometimes people will say hard things here but often I deserved and needed to be told it. Good luck, there are people who know all sorts on this site thankfully and they are prepared to help you with independent truthful info.

TengoNoDinero

Hi, we've finally pulled our heads out of the sand as well, but are new to all this. Looks like you're doing the right things.

All the best
F

dancingfairy

definitely. They might accept your proposed payments on the dmp but will probably still want a charging order on your house. It's basically a security for them - if you were to stop paying then when you sold your house they would get their money.
Sounds like you have progressed loads already. You don't have to speak to them on the phone. They may phone but I'm sure you can request that they only communicate in writing with you.
If you pop your SOA (budget) up here people will be able to give it the once over and suggest where you might be paying too much for things and where you can make savings. It is quite brutal but aimed at helping people and giving them suggestions. I'm sure you've seen some on here.
Good Luck now that you are starting to sort things out.

Bismarck

Hi, well done for posting.

Key word to me here is "notice of possible charging order on property"......seems like threat rather than a likely event at the moment....

Welcome aboard!

This site is life-saving...there's stuff on here that's priceless!

littlemandy

Thanks everyone for your replies. I can try and relax a little now knowing that my house wont be taken from me. Ive no intentions of selling up so hopefully even if this charge order is done then its not really gonna make a lot of difference to me.

Im doing all my token payments now to post tomorrow and hopefully my cccs dmp pack will be with me soon to try and get my life back on track without worrying about the phone ringing or the postman coming, i just wish id pulled me head out sooner, but better late then never i suppose..

M xx

arthurdick

good luck littlemandy, you are going the right way now.. it took me a while, letters left unopened and all thatbut it really dont do any good...as a few people on here have found out at 1 time or another....the token payments are a good idea, it lets them all see that you are not ignoring them, (however tempting)..once you have got your payment plan going, it will lift a great weight from you..stick at it, once you see the debts are going down or at least dealt with, it will just make you feel that much better about yourself( speaking from experience , but im sure that im not the only one who felt that).....anyway, good luck to us all....keep on smiling, they can take your money but not your spirit...

10past6

Hello littlemandy

Well done for facing up to your current situation, here is a letter you may find useful sending to your creditors:

Your Address

Companies Address

Dear Sir/Madam

Re A/c Ref: XXXXXX

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

We cannot now afford to agreed monthly payments because ... [Your reasons here]

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 £XXX. 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

tealady

Hi I would agree with every one who has posted, put up your SOA and we will do our bestest to help you cut back. You can have a champagne life on a beer money budget, it just means being a bit savvy thats all.
Before you know it you will be ebaying, pigsbacking, stoozing and be a queen of old style. And whats more you will be PROUD to be a DFW.