Sleepless Nights

[Cortana]

Hi

I'm in trouble and I don't know where to turn. I owe £20,200 to 11 creditors (1 is Tax credits that I am paying back albeit slowly for over payment 3 years ago)

I've tried different calculators and I'm being told that a Debt Management plan is the best for me.

It scares me that Creditors may not freeze interest and I'll be back to square one.

I'm recently divorced so not all my bills are in my maiden name, I am slowly getting around to changing all that, as far as I'm aware, I've not been wrong in not changing them straight away?

I live with my partner in his house. We have no joint bills but I do pay "board" He was kind enough to give me quite a long break from this but now needs my monthly payments as I'm effectively living here for free.

I do contribute to food (well I pay for most of it, which I don't mind) and I pay for the landline and broadband.

I'm now at the point where I'm paying a credit card , giving it a couple of days and then using that card to pay a catalogue. I do this with 2 cards (and pay 2 catalogues)

I work full time, and have no children to pay for, although I do have a pet.

I'm literally at my wits end and through trawling the internet, have found this forum, although I' not sure if an IVA is for me either as the companies calculator says I can pay off my debts in full in just over 3 years on a debt management plan. But who are the best?, who should I avoid? It's minefield.

I don't have a luxury lifestyle, I don't drive, except for driving myself up the wall (sorry, poor excuse for humour, I'm trying to remain positive)

I don't know where to turn, or even who to talk to. I had to put my phone number into one of the calculators and now my phone is constantly ringing, it's the same number and I'm feeling bogged down with it. I'm not sure I'm ready to talk to someone in person, although I will do in the near future, but need to change my name first.

Thank you, for whatever answers or advice may come along.

[nursecrippin]

hiya,
take a step back and breathe. Things always looks worse. There are some really good companies on here, i used melanie Giles and i talked everything through with them, they gave me good sound advice, ring a couple and speak to them.
I never thought i would see an end to my debt problems and after 6 years and over £40,000 worth of debt it is all gone.
good luck

[watzki]

Hi stay positive I had massive debts and sleepless nights.
You need to start talking to someone,make an appointment at your local citizens advice buerue and talk to a debt councillor or a debt charity.

[kallis3]

Hi and welcome,

These calculators are only broad so you need to speak to someone with your specific circumstances.

There are several good firms out there - you could start by giving Andy Davie/Vincent Bond (details under the expert link on the left hand side of the page) for some free advice and hopefully a way forward.

BTW - good to see you Heidi - hope you are well!

[Foggy]

As mentioned above, you do need to speak to a few companies to compare advice and to see who you gel with. When calculating disposable income don't forget the myriad of little things you pay for and don't think about: Haircuts, newspapers, bus fares etc., etc.

Personally I would recommend the small to medium sized firms who will treat you as an individual, rather than the large "IVA factories" where you are a grain of sand on a very large beach! Pick a firm where, if need be, you do have access to the IP as well.

Have a good scout around the forum, where you will find mention of the good, bad and the ugly (that's me!) and see what our common concerns are.

Don't hesitate to come back with any questions you might have, or just to let off steam.

Good luck.

[MG12]

As everyone else has said speak to a few companies & see who you feel comfortable with.

The first phone call can be scary but if you get a good company, they will reassure you.

I was lucky that I only phoned one company & they turned out to be fantastic.

[Cortana]

Thanks everyone.

Spent another sleepless night just surfing for information, Now I'm contacting companies with my details of name changes. I need to figure out how to scan to this computer so I can put my absolute in etc haha, not the best brain here. I know that this name change will probably take the longest time. (sorting and sending off details, waiting for confirmations etc)
As soon as all that is done, then I shall steam ahead and talk to someone.

I don't want to pick the phone up and start the ball rolling only to be told that I need to get that sorted first anyway.

I've opened a new bank account too, which I'd read that I should do. (only online and no overdraft facility. I actually never used my overdraft anyway) and I don't plan on defaulting on any payments.

Just so good to 'let it all out' I can't really talk to anyone about this, i'm just too embarrassed so I have to put on a normal happy face at work. My partner is being supportive but he doesn't know the extent of it all and he doesn't understand it I don't think. He can't keep supporting me financially, I've had 8 months off any payments that I made to him.

Thank you again

[Cortana]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by kallis3
BTW - good to see you Heidi - hope you are well!

My name isn't Heidi, but I'm a bit concerened that if you think you know someone that you've posted that here.

I thought the whole point of something like this is anonymity.

I'm sorry but if there was anyone I knew on here, I wouldn't be pointing out a name.

[Foggy]

Hi Cortana -- Kallis was greeting another responder to your thread -- who actually signs off as Heidi.... Nursecrippin.

People can, and usually do, remain anonymous here and, even if we know a poster personally, we refer to them by their forum name, unless they use their own name in their postings as well.

[size5]

Avoid "calculators" and remote debt advice like the plague. Would you trust your future to a machine?

No substitute for speaking to a human being, so speak to 2 or 3 agencies, including at least 1 charity, and then make your own informed decision from there.

Regards.

[Cortana]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy

Hi Cortana -- Kallis was greeting another responder to your thread -- who actually signs off as Heidi.... Nursecrippin.

People can, and usually do, remain anonymous here and, even if we know a poster personally, we refer to them by their forum name, unless they use their own name in their postings as well.

Then my apologies to kallis3

It frightened me a little, I don't want anyone to know what my situation is.

Sorry again

[Lisa Thomas]

I haven't read the replies so apologies if I am repeating something - I think a DRO (if the criteria applies) or Bankruptcy might be better options for you instead of a DRO or IVA.

[kallis3]

My apologies for not making that clear - shouldn't have posted that as it obviously caused confusion!

I do apologise Cortana - I have no idea who you are off forum.