Token payments - pls help

NEVERAGAIN_4

Hello,

Please can you help with any advise on token payments and the other questions. Would be very grateful.

We have contacted our credit card & loan companies advising them that we cannot pay (husband lost his job beginning May with no wages due to company going in to receivership) had no money in apart from grand total of £60.50 from benefits agency on friday, no savings left as this has been used to pay debts and mortgage etc in May. We have two children.

We have been asked to send them a SOA and a token payment. This will be the first time we cannot pay them. I am surprized that they have asked for a SOA straight away but it is not a problem we can do this. We can only pay them £1 each, what is the best way to send this? To avoid them paying any charges for cashing it in with it being a small amount.

Any advise on what happens next month if we cannot pay again? We are both looking for jobs. Also what happens when we do get jobs will they expect us to catch up on the payments we have missed? Will they stick charges on for missed payments straight away? Egg card asked us for a reference no from a debt management company as well?

We will have to go on to DMP even when we get jobs as we are in a mess due to my husband borrowing money to put in to the business which has now failed so we are left with the debt. Can the debt charity help us at the moment even though we do not have jobs yet? I presume because we do not have money coming in they cannot make a DMP for us yet? I have gone online to cccs and started to fill an application in ready for when we get proper incomes. Would we be able to get a reference no from them at the moment?

What is it like going on a DMP? The debts are in my husbands name so do I have to go on one as well. I am not looking forward to it at all. I image that you feel trapped, nothing to look forward to ever again, no going out, no holidays etc.

Sorry to ask these questions but just feel very angry, frustrated and upset that this is where we are and do we have a future! Things are not great between me and OH as I do blame him for us being in this mess! (I have not said this as he is suffering) He has always worked hard and always been positive and therefore did not consider the consequences if things were to go wrong. How do I get over the anger so we can move on and make the best of the situation (we do have two young kids to think of).

Thank you for listening and help/advise would be really appreciated.

xx

mandi

Two things I can think of Never..

1. send them postal orders

2. DONT get involved with a Debit management company ..contact national Debit line http://www.nationaldebtline.co.uk/.. They are free, and confidential , will give you all the advice you need,




Good Luck



Mandi

mountainofdebt

As far as your anger is concerned, it might be an idea to write all your feelings down in a letter and then throw it away.

He's probably feeling like rubbish anyway and even if you haven't voiced your anger/frustration, your manner etc is probably letting him know how you feel.

I must admit I was surprised at egg's response - when I phoned them up they were brillant and agreed to a dmp after about a half an hour phone call in which we went through all my income/expenditure.

(When I phoned CCCS - before ringing egg - they told me that as it was only my debts that needed to go onto a dmp only my expenditure details that needed to be given)

sharon333_2

I have never had issues with them either, but I do understand where you are coming from.

ne021

I am in a similar situation so this may not be a great help but keep pestering them about payment arrangements or token payments. To make some extra cash get selling on ebay remember one persons trash is anothers treasure. What sort of company was your other halves? Is their any old stock etc that could be sold on to make some extra sponds!
I hope this helps
Char

NEVERAGAIN_4

Hello,

Thank you for your replies.
I have arranged the token payments through the post office and got postal orders.
My husband spoke to CCCS and was given a ref no that we can quote to the crediters even though we are not ready to go on to DMP yet due to lack of money/jobs. We will forward the token payments with our SOA and CCCS ref no and see what happens next.

Northern Rock asked us to still make full payments until they come back to us on our SOA which is a stupid thing to ask as we had just told them that my husband has lost his job?

I do have some good news I do have a job and start on Monday which I am dead chuffed about and nervous (not worked for 5years due to having a family). The salary won't go anywhere near our debts/costs but it will definately help and also it will stop me from going mad at home with worrying about it all. Just need hubby to get sorted now.

I have been on ebay selling things and will continue to do so.

With regards to my feelings, that is a really good idea to get it all wrote down and get it out of my head! Hopefully I might even sleep better.

Thank you for you answers and support.
I might have to still ask some more questions on this rocky road!

x