Need Advice Please.
Just had an email from Payplan who are doing our DMP. Natwest have stated they do not deal with secured positions. As far as I'm aware we have an unsecured personal loan with them although our mortgage is with them. ( Up to date no issues). Having dug out the loan agreement it states in section 6. Notwithstanding the terms of any security which we hold or may in future hold, the sums due under this agreement are unsecured, except for rights arising by operation of law. Can they change a loan to secured if they hold our mortgage. Surly not.
Thought I was doing OK feel very worried again.
Thanks x
Thanks Melanie
Will e mail them tonight.Not sure if they are getting it mixed up with the mortgage. We took a new mortgage out with natwest in 06. Makes you worry though.
Having a crap day today ,dont know why but suddenly started thinking of all the money we have wasted over the years, and we have nothing to show for it.Just wish we would have done things differently. Feel very guilty. Sure this is part of the process.
No one knows about our debt, and just had a conversation with my mother, who is fab and I love dearly but she has very clear ideas about debt and those who have got themselves in debt.She was talking about some close friends of ours living above their means. All l could think was thats me !!! thats me !!!
OK just re read my post, sounding sorry for myself. Ive a great hubby, 2 wonderful little girls , a close family,good health and a job. Kind of puts my 82 grand of debt into perspective. So lm rewinding, yep been stupid with money all my adult life, but have now taken control and thats what matters.
Just hoping that debt is not so easily accessable to my children.
My mother is exactly the same minime. I inwardly cringe if she discusses anything about debt!
With the exception of the two kids (I only have one) we are pretty much the same. The only thing we have to show for our spending is a car and a lot of memories of exotic holidays.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Minime - if it makes you feel any better, I'm the same! No-one knows about our debts (approx £48K), I've been ok the last few weeks, but have had a couple of "low" days - I've got a lovely husband, and a gorgeous son and daughter, so really shouldn't be so miserable!! It's really hard some days though, because I feel like I've let them down. We've been stupid with money too, but are trying to get back on track
I know what you mean Kallis about cringing!! Im an expert now at changing the subject.
And you do feel as though you have let them down rainbowofhope. My parents gave me a fantastic start in life and I wanted to do the same for my children. Although we were not in the same financial position.Its taken a while to realise that we can give them the same things (values)just in a different way.
I will be making sure they understand the value of money
I think we all experience the feeling of failure at one time or another and I'm going through a down period now and I am normally very upbeat about my IVA, I think it's the Christmas Blues because I can't buy things I want to buy for my children and grandchildren. I too have nothing material to show for my debt.
When change happens with me it takes me a while to adjust and it's the end of the fixed term for the mortgage and the IVA does reduce accordingly but I worry, I worry about everything, I can never see it going to work, I'm sure it will as my IP knows her stuff as they say but for us debtors it's hard I do know that at times.
Today I had my daughter on the phone granddaughter and grandson need a new coat, isn't that my cue to say I'll help you out but I couldn't, not even with the most stringent budget I couldn't, do I feel guilty? immensely, I cried and thought about my Dad a lot as it was 11 years since he passed away yesterday and as your Mum's above feel about debt he certainly would have felt the same and I know I would never dared have told him.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Nothing to show for debt here either..not even memories of holidays. My partner's ex wife has a LOT to answer for...sigh...
I have to say though I am so relieved my family do know about the IVA now. My mum has been absolutely fabulous. Really supportive and has helped out loads. She bought a lovely snug winter coat for my eldest daughter and often comes round with clothes for them. Mostly though I appreciate the emotional support and relief of not hiding away in shame anymore.
Melanie We are paying back about £1200 per month on the DMP(5-6 years). On the original plan for an IVA would worked out at 100p in the pound. You did come up with a IVA for me and DMP for hubby (fab idea)which is our contingency if the creditors don't stop the interest and charges.
Lesley it must be hard not being in a position to help your children out, but its also not forever. And when you are able to help out you will know that its all paid for!!Do they know about your IVA .Thanks for your advice.x
Angelrainbow it sounds as though you have a very supportive family. It must be comforting to know that things are not expected of you financially.
Ive told my parents that we are just pulling back because we want to save up for a change. But I think they are noticing the changes we are making. In fact mum came up with 2 tracksuits for the girls yesterday, she does have a good instinct!
But I could never tell her directly, as I know they would want to help out and their money is to enjoy their retirement with not for bailing out their kids. Other members of my family have also got into serious debt and they have been the topic of conversation for weeks!! I can just imagine the comments now !
I'm just glad that we can use this forum to discuss our problems.
Felt so worried and down last night but its a new day today.
I will contact Payplan this AM about the loan. Must get the children to school and me to work.
Thanks again guys , this site feels like my saviour at the moment. xx
Hi
My circumstances are just the same as you minime. I don't have much to show for my debt except some memories of holidays and days out. Luckly my girls have grown up. I surpose if we have lived "within our means" they would have to have gone without a lot. Our debts have been spent more on doing things then material items.
There is not a day goes by that I don't feel guilty about it especiallly as my hubby did not know how bad things were.
I could never tell anybody, only our daughters know.
Linda x
I know exactly how you feel, my daughter is struggling herself and I would love to buy more for my grandson. It makes you feel so guilty does'nt it. At least we can give them lots of love.
