So scared

chloe1

Hi
Could any of you help me please with a mess I am in.
I had an accident in January of this year and it left me unable to work for a while - things got on top of me and as a result I have missed up to 4 months payments on my credit cards.
A couple of them have now issued me Notice of default. They have given me 16 days to pay an amount that I can't afford. My first question is what can I do? What if I cannot afford it - I simply dont have the money to pay it - can I make an offer of payment (for a lot less than what they are asking for). If not, what next stages do they take? Do they sell the debt to a DCC once the default notice is issued?

Also, a few of my credit cards have gone quiet - done nothing yet apart from nasty letters and phone calls. What are they going to do? How long can they hold payment for?

I am waiting for some compensation from my accident that is literally due in the next few weeks, but I cannot comit to a date to my debtors, as I really dont know when I will get it, just approximate timings.

I am new to all of this and absolutely sick with worry. I have images of someone knocking on my door for the debt, and I cannot be strong enough to deal with this. I have just lost my father and am really struggling. Are they likely to send anyone round at this stage, or would it go to court first? I have no idea of what happens and wonder if anybody could help or advise me.
I know this is all my own fault and I haven't paid, but I honestly could not give them what I dont have.

bethanyrayne

chloe1 wrote: »

Hi
Could any of you help me please with a mess I am in.
I had an accident in January of this year and it left me unable to work for a while - things got on top of me and as a result I have missed up to 4 months payments on my credit cards.
A couple of them have now issued me Notice of default. They have given me 16 days to pay an amount that I can't afford. My first question is what can I do? What if I cannot afford it - I simply dont have the money to pay it - can I make an offer of payment (for a lot less than what they are asking for). If not, what next stages do they take? Do they sell the debt to a DCC once the default notice is issued?

Also, a few of my credit cards have gone quiet - done nothing yet apart from nasty letters and phone calls. What are they going to do? How long can they hold payment for?

I am waiting for some compensation from my accident that is literally due in the next few weeks, but I cannot comit to a date to my debtors, as I really dont know when I will get it, just approximate timings.

I am new to all of this and absolutely sick with worry. I have images of someone knocking on my door for the debt, and I cannot be strong enough to deal with this. I have just lost my father and am really struggling. Are they likely to send anyone round at this stage, or would it go to court first? I have no idea of what happens and wonder if anybody could help or advise me.
I know this is all my own fault and I haven't paid, but I honestly could not give them what I dont have.

Sorry to hear of your loss.

You really need professional local help so I suggest you take all your documents and make an appointment at the CAB.

There financial people are really good with dealing with situations like this and can contact all concerned.

You need them to take the weight of your shoulders and believe me they will.

Good Luck

chloe1

Thanks for all your replies and help.

I will stick around here as I can see that the board is so valuable.

Any other help would be gratefully appreciated, I'm so worried about all of this.

CLAPTON

Did you contact the CC companies and explain your situation, and asking them to suspending payment and interest charges until the compensation came through or you could resume work?

They wont always do this but its essential to start proper communications with them as soon as you have a problem paying.... its best done in writing... keep copies on all correspondance and best to send by recorded delivery so they can't claim they haven't received it.

If they issue defaults on the cards then the a/c will be suspended and your credit recorded marked with a default which will make it very difficult to get credit in the future.

Once defaulted they may pass the debt to a dca but this doesn't make a lot of difference in practice.

Its very unlikely they will call at your house but if they do simply send them away and donot discuss the matter at all.... debt collectors have absolutely no legal powers and under no circumstances agree to pay anything.

If they take you to court and get a CCJ against you, you will have an opportunity to explain your situation to the judge and suggest a suitable monthly payment. As long as you stick to this payment there is little more they can do. Bailiffs can only be instructed after the CCJ and if you stop paying the amount decided by the judge. If they take you to court DONOT ignore this situation... come back here and ask advice and speak to CAB/CCCS or payplan or nationaldebtline.... all these give free unbiassed advice.