Im drowning in debt!!

poshbyrdnomonies

Where do I start...............I've been struggling with various debts for the past 5yrs, and until the last year I was just about managing to keep most of the ball in the air...but alas no more!! I have ccj's against my name for credit cards etc, and some charges against my home, and about 4mths ago I was unable to pay my mortage, and then managed to make the next two months payments, but this month i defaulted again!! If a friend was telling me this sorry tale, I would be advising them to contact everybody and try and sort this out, howver the only thing I have successfully managed to do is an extremely good impression of an OSTRICH!!!.................I know its wrong, but I'm by myself and I dont know where to turn ( I feel totally overwhelmed) , and YES i do know IM STUPID!! I hate going home. I dont open the post for weeks...if ever!! and I feel so out of my depth and alone that I have considered suicide!! believe it or not I am a professional person, and there is no way I can go bankrupt, as i would loose my job!!..can anybody out there please give me some advise/help on voluntary repossession and a way forward with the rest of my life....I'm not a bad person.....just stupid!! How long before the bailiffs come to lock me out of my house??

Norfolk_Jim

Well first, dont be so hard on yourself and please dont consider suicide, there is a solution. You have come to the right place, there are quite a few people here who will be able to give you some very sound advice if your willing to take it. Give it time now as some of the very helpful people here only visit every so often but they will be able to give you some help. They will ask you a lot of personal questions but dont be defensive about that, they will help you. In the meantime, have a look at some of the other people here who have financial problems and you'll see that its a pretty amazing board. Good luck in getting sorted, you wont be on your own.

poorandindenial

Hi poshbyrd

Well done for posting and you are definitley in the right place.


First things first, before this gets any worse you have absolutley got to find out what you are dealing with. It will be horrid but you need to open that post and find out how much you owe, who you owe it to and what the repayment terms are. Then complete a SOA (statement of affairs, see the sticky at the top of the forum or I'll post a link in a sec). An SOA is basically a summary of your incomings and outgoings with a bit of extra detail. Then post your SOA on here and there will be lots of people who are able to offer you advice.

If this sounds too awful then once you have all the details of your debts you can go to CCCS (link in a sec) and ender your info into a tool called debtremedy and it will give you an idea of what options are available to you. Sometimes what comes up is quite scary but just come back here and people will be happy to share their experiences and hopefully help you see the wood for the trees until you can get a time to call CCCS direct if that is what you then need to do. there are other organisations that do similar things (I'll post a link to them in a sec too - the link to them will include the link to CCCS)

Everyone on here has been in debt or is still in debt (mine doesn't look too pretty but a lot prettier than before I found this forum) and no-one will judge you for your situation.

All the best

Deep_In_Debt

Hi I just want to echo what Jim has said. I felt the same as you when I found out the extent of my debts. I then discovered this forum and things look rosier already. There is a way out, it just takes time and effort and it can be frustrating at times but you can always have a rant on here! You are not stupid and you are not a bad person at all.

Have you sought advice from one of the free charities? CCCS, CAB or National Debtline should be your first port of call. They will be able to advise the best way forward for you. Also, post up your SOA and we'll all have a look and see where we can help you save money.

Good luck and keep posting.

poorandindenial

SOA tool - http://www.makesenseofcards.com/soacalc.html

List of debt advisors that won't charge you for their services - http://www.moneysavingexpert.com/loans/debt-help-plan#help

doodledo_2

Hi and welcome to the forum.

As the others have said it's going to be hard but you need to find out exactly what your situation is. So grab a cuppa and start opening those letters.

Then post an SOA up with all your incomings, outgoings and debts with APRs and you will hopefully have lots of good advice coming your way.

You are definately in the right place.

poorandindenial

This is a duplicate thread - here is the other one http://forums.moneysavingexpert.com/showthread.html?t=982043

Will cross post there too so that if OP comes back they can see all the responses