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Just another newbie here!
Tonytone
Posts: 4 Newbie
Hi All,
I have to admit I have spent years lurking on internet forums mainly ones based around cars and some about home audio and AV, i never dreamt that I'd end up on one telling the world about the state I have got myself into...however reading theads here really helps me so thank you all in advance!
I struggled for years to keep up all of minimum payments on my 3 x personal loans and 2 x c cards, the rest of the cards had been cut up and paid off over the years with Debt consolidation loans, i even managed 1 ot 2 short spells of unemployment (redundancy) and just kept my head above water...then in August 2010 redundancy struck me again...this time I was out of work for 7 months and the damage was done, token payments would not suffice, i was forced down the DMP route via the CCCS (as advised by a friend) and now i have defaults registered against me. It was the only way out and at least my outgoings have decreased to a sensible level now I am back in full time employment again. I just hope that one day I will be debt free (i owe around 30k in total) i'm paying £445 per month to the CCCS now, only one of my creditors has frozen interest though which sucks, although we are just about to move as we have been forced to and my outgoings will go up so I'll have to re-do my monthly income and expenditure with them and arrange a lower payment, maybe some of my other creditors will freeze interest too then?
Any advice/sharing of experience would be much appreciated!
Tony
I have to admit I have spent years lurking on internet forums mainly ones based around cars and some about home audio and AV, i never dreamt that I'd end up on one telling the world about the state I have got myself into...however reading theads here really helps me so thank you all in advance!
I struggled for years to keep up all of minimum payments on my 3 x personal loans and 2 x c cards, the rest of the cards had been cut up and paid off over the years with Debt consolidation loans, i even managed 1 ot 2 short spells of unemployment (redundancy) and just kept my head above water...then in August 2010 redundancy struck me again...this time I was out of work for 7 months and the damage was done, token payments would not suffice, i was forced down the DMP route via the CCCS (as advised by a friend) and now i have defaults registered against me. It was the only way out and at least my outgoings have decreased to a sensible level now I am back in full time employment again. I just hope that one day I will be debt free (i owe around 30k in total) i'm paying £445 per month to the CCCS now, only one of my creditors has frozen interest though which sucks, although we are just about to move as we have been forced to and my outgoings will go up so I'll have to re-do my monthly income and expenditure with them and arrange a lower payment, maybe some of my other creditors will freeze interest too then?
Any advice/sharing of experience would be much appreciated!
Tony
0
Comments
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Hello and welcome
The people on here are absolutely fantastic. I've been here 2 days and feel so much more positive than I have done for months. I'm in a similar situation - juggled the debts for years then a period of maternity leave/sickness tipped me over the edge. I'm in a dmp with cccs, and am paying reduced but not frozen interest on most of my debts. Just plodding on with it and doing the best I can.
Good luck, talk lots and get involved. It'll really help...Ninja Saving Turtle0 -
Oof, that's crappy that only one creditor has frozen %. Have you written to them yourself asking them to drop the % - it worked on a couple for us. TBH, we're on a DMP and 17 of our 19 creditors froze % and two are charging a tiny amount.The letter template can be found on the National Debtline website.
I would re-do your SOA with CCCS as soon as possible - don't wait til after the event because remember it'll take a wee while to go through the process.
Have you looked at the DMP Mutual Support Thread - lots of advice and support.
Welcome and all the best
SAAC0 -
Thanks for the replies and kind words of support people....
I have written to ALL of them, well my old bank (santander0 whom i banked with for 18 years and have a OD with and the other CC lender, both of those letters were ignored:-(
Santander so far have been very unhelpfull (2 x of my loans are with them too)0
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