Feel Like I'm At The Bottom Of A Black Hole

skibadee

Currently on dmp with payplan which is going to take over 13yrs to pay back.
Still cannot manage financially and don't know which way to turn......because I was diagnosed with cancer 4 yrs ago [ currently in remission ] I do not want to tie myself into a set amount with an IVA that, for whatever reasons I may not be able to sustain......I really wanted to be able to pay all my creditors back....but just don't see how I can do it...have not been into work today....feel emotionally/mentally drained...can't sleep for doing sums in my head...taking time off work which I won't get paid for is not an ideal situation obviously.....how the hell am I going to deal with this????

Deep_In_Debt

Firstly don't panic.

Sorry to hear about your health issues but glad it is currently in remission. Let's hope it stays that way.

Have you spoken to Payplan? They may be able to adjust your payments for the time being.

Sorry, I'm not much help but others will be along soon to help. Good luck, keep posting and I hope you feel better soon.

bank_of_slate

Hi Skiba, there will be a way to sort this out but your health must come first! Stressing about your financial situation will not help your recovery!
Do you have support from Marie Curie? I know that they have people who can advise about financial matters as well as treatment, have a good look at their website.
Talk to Payplan about your concerns and let THEM do some of the worrying, do you have lots of support from family and friends?
...Linda xx

auntymabel

Nothing much to add I'm afraid except to agree you should speak to Pay Plan. They are the experts and have seen it all before and I'm sure they will be able to help. I wish you luck.

SuziQ

Really feel for you skipadee. I agree with the others,try to get payments reduced. Are you really well enough to work? Would you be better off recuoerating off work for a while and recieving benefit. I don't know enough about the system to advise you,am claiming benefit for the first time in my life and desperately hoping to get back to work but have been told by the DSS to wait until I have proper diagnosis of a health problem (real pain as I have just applied for 2 really good jobs!) I really hope you feel better soon. Hvae you had any free advise from CAB or a debt councelling company?

skibadee

Thank you all for your replies.
I have a doctos appointment for tomorrow afternoon....fortunately GP knows me very well.
Will ring PayPlan today and see what they say......the debts my own fault I know that and is very high approx £54,000 all unsecured credit debt.

stapeley

HI, do you own your home ? if loans are unsecured i would stop worring about it. If you have not go the money you cann,t pay ,but be sure you keep up with rent, rate , electric etc . Are any debts with DCA,s ?

skibadee

No we don't own our home we rent....3 debts are with DCA's...have no arrears on rent, council tax, electric, gas, water etc., just credit arrears......am considering bankruptcy or doing my own DMP because to be honest I still get letters doing it throug PayPlan which I have to reply to....have just e-mailed my housing officer to see if going bankrupt effects tenancy

mrsbez_2

Hi skibadee,

As others have said your health is the most important thing at the moment, so worrying about your debts isn't really helping matters. I can see that this DMP is not working for you so maybe talk to payplan to get your payments reduced.
As you mentioned in your post you are considering bankruptcy, seeing that you do not own your own home then this may not be such a bad idea.
Yes, i would check to see whether it would affect your tenancy, but i can't see that being a problem if your rent has always been paid on time.
At least you will be able to have some sort of freedom from these debts and be able to concentrate on your health.

This is just my opinion so hope you can find some good advice and help to allow you to look at all your options.
But i would seriously consider the bankruptcy route, having worked in that field i would say it brings a sense of relief to alot of people.

4littleone

Hi,
i'm sorry to hear you're feeling so low.
I agree with the post above though that bankruptcy may be a better option for you as you have high levels of debt, a low income and health issues.
I don't think it will worsen your credit rating as if you are dealing with DCA's already then you will have defaults etc on your record.
Look at it this way, you would be bankcrupt for a yr and dealing with the OR, then discharged, rubbish credit rating for another 5 yrs but this won't matter as the last thing you'll want is any more credit, and then after that, you'll have a clean record and no stress.

Have you looked on the bankruptcy forum board? There are alot of people on there who can answer questions about Housing Authorities etc.
Bankruptcy is never an easy option but sometimes it's a way forward.

skibadee

Went to see GP got more medication.
Have spoken to PayPlan...who ..to be honest are not much help.....don't really know where to go from here....have told PayPlan am unable to sustain payments for at least 2 mths.......to be honest one of my creditors the infamous 1st Credit..will probably kick off again and go for a bankruptcy order against me anyway.
Don't even know if we can financially see the month out until OH's payday!!