wound up cannot sleep and constanly crying

[kerrie]

hi my name is kerrie,i am wittled to death as i have had to come out of work due to a back problem i have been told that ive got to have a back op so i cannot go back to work or i can end up in a wheel chair.and im on incapacity benefit which is not much
i want to pay my credit cards but cannot,
i have remortgaged to the max and owe 11,000 on credit cards 6000 loan and 11,000 in total to my parents.
i have tried to tell my credit cards but some are not willing to help,ive tried to have a good few days not to think about it but im wound up cannot sleep and constanly crying. i dont know what my options are and im worried that im going to lose my house.
i have two children to support and cant even let them go on school trips as i cannot afford this.
im dreading xmas.someone please help

[MelanieGiles]

Hi Kerrie and a warm welcome to the forum

I am assuming that your debts are £28k in total, with £11k owed to your parents. As your income is derived solely from benefit, an IVA would not be appropriate for you unless it was based on a third-party lump sum offer.

It would appear that bankruptcy proceedings are probably your best option, but firstly do you own your home or are you renting?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[kerrie2]

hi melanie ive just read my blog and seen your repley i did forget to mention i am married and my husband works full time ,does this make a difference.
just to say that ive had to re register so im the same person as above
also i own my home i think we have 5000 equity but as a former estate agent i know the house prices are starting to fall

kerrie kirkham

[mikebdomain]

Hi Kerrie

Sorry to hear about your situation, did you by any chance take out payment protection insurance with your mortgage (some times referred to as MPPI)? If you did, this sounds like a good time to make a claim.

I'm sure Melenie will advise you soon regarding your husbands income.

All the best

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
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http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
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[kerrie2]

hi mikebdomain,thankyou
i have payment protection on one of my cards but this as been as waste on time as i pay more payment protection than the company are paying example i pay 25.00 amonth and they pay 20.00 so ive been told to cancel this.
on my mortgage we dont have this. we have just gone to interest only on our mortgage but this as only dropped to 739.00 instead of 902.00 but i suppose this helps. thanks kerrie

kerrie kirkham

[MelanieGiles]

Hi Kerrie

Yes the fact that your husband is working may have a difference. Does he have any debts of his own? Could you work out together what money you would have left each month to pay creditors, after providing for your normal household bills and personal expenditure, and I can then advise further.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[lily]

Hi Kerri and welcome

You will be able to get technical advice from Melanie and co, so I just wanted to come on and offer support to you.

I too was a peice of crying jelly this time last year when I realised I was in a mess and couldnt work myself.

Its hard right now because you just do not know what to do but there will be a way forward for you and the feeling of desperation will begin to fade.

You say that your creditors are not helpful, they usually do phone and pester but please do not take this personally. They are paid to extract a payment from you and quite frankly couldnt care less about the cicumstances. Stick to your guns, tell them you are taking financial advice and to leave you alone.

Its so hard to function when you are feeling so bad and not sleeping, it may be worth talking to your doctor and telling them of your circumstances, they may be able to help lift your mood and improve or reastablish your sleeping pattern.

Please try not to worry as most of us have experienced the fear and dispair you are feeling and I promise it will get better.



lily

[kerrie2]

HI LILY AND THANKYOU FOR THAT.IVE ALREADY TOLD ONE OF MY CREDIDTOR THAT THEY WILL BE WORSE OFF IVE OFFERED THEM A PAYMENT PLAN BUT THEY SAY INTILL THEY HAVE CLEAR MONTHS OF PAYMENT THEY WILL NOT AGGREE,
MY ONLY VIEW IS THAT THEY SAY TELL THEM THAT YOU ARE IN FINANCIAL DIFFICULY BUT WHEN YOU DO THEY DO NOTHING.
MY ONLY WORRY IS THAT I CANNOT PROVIDE FOR MY CHILDREN AND MAY LOSE MY HOME.I DONT MIND BAD CREDIT BUT DONT WANT TO LOSE MY HOME.
I WORKED ALL MY LIFE EVEN WHEN THE CHILDREN WERE YOUNG AND THE ONLY TIME I CANNOT WORK IS NOW AND THAT IS SOMETHING I CANNOT HANDLE AS I WANT TO BUT DO NOT WANT TO END UP IN A WHEEL CHAIR.
THE STRESS IS ALSO TOO MUCH TO HANDLE.
SORRY IF I HAVE GONE ON ABIT AND THANKS AGAIN LILY. KERRIE

kerrie kirkham

[lily]

Hi Kerrie

There is no need to say sorry, I know how hard this is.

I am sorry I cannot give you a sure and final answer but I think that you are so stressed out, you just cannot function at the moment.

You will be able to provide for the children, they need love, food, clean clothes and a functioning mom. They must come before your creditors right now.

The latter is the most important thing right now and thats what you should try to concentrate on. You will need your strength to get through the post operative period. You could try to communicate your desperation to your GP, who may offer help in one form or another to help you to get through this.

Of course you dont want to lose your house, you need a way forward. Please try not to worry about the creditors at this time, they do not care and will not listen.

Work out what your income is and what you need to pay on secured debts and living expenses, see what is left over and take it from there, are the debts in your name or both names???

So you have any debts with your bank????

This debt situation is desperate enough without the other problems so its not suprising that youre freaking out. We are always here to help so please feel free to rant, cry, ask etc.

I do feel for you as I have kind of been there.

dont worry, you will not be judged here about anything.
Post back















lily

[lily]

sorry about the waste of paper/space, my comp is playing tricks, me thinks.

lily

[Lisa2009]

Haha lily i was just about to ask about that

[kerrie2]

THANKS LILY,I DONT OWE ANYTHING TO THE BANK,JUST CREDIT CARDS AND A LOAN .I AVE NOTHING SECURED ON MY HOME MY LOAN IS IN WITH MY MORTGAGE THAT IS WHY I PAY 902.00 A MONTH BUT IT INSNT SECURED 700 ODD IS MY MORT THE REST IS THE LOAN WITH NORTHAN ROCK
I OWE 6,000 ON NECTER A EXPRESS
3,300 MBNA
6,000 LOAN TO BENEFICAL FINANCE
2,000 TO NATWEST AND
11,000 IN TOTAL TO MY MUM IN LAW AND BRUV IN LAW THIS IS ALSO JOINT WITH MY HUSBAND SO AS YOU CAN SEE ITS ALOT BUT I MUST SAY THAT THIS SITE AS HELPED ME ALOT BECAUSE IT AS MADE ME REALISE THAT THERE ARE PEOPLE FAR WORSE OFF THAN ME AND EVERYONE IS SO HELPFUL SO THANKYOU ALL XXXXX

kerrie kirkham

[lily]

Well you are very welcome Kerrie.

When I first came here I was in a state too and I was in such a state I couldnt function.

I am not an expert but Northern rock are a difficult creditor in IVA terms. Also the debts to your family would not be included. I am not sure if its a total of 11K or 22K. Even 22K is quite low (I know it doesn't feel like it to you). There is hope for you with this, just take a breath and think positive.


You have decided to face it all and should be proud of yourself for that. I am not sure how much youre tied in with the family repayments, is it possible to reduce these???

You could try talking to cccs, they may give you some advice on how to make pro rata reduced payments. Also myvesta do a free debt management plan and contact and distribute to your creditors. It does help to have a third party to negociate for you. (www.myvesta.org.uk). Just to take the pressure off for a while, how about changing your phone number? this helped me a lot.

It really depends on your disposable income, how long it will all take to repay.

As said previously do not worry about the creditors at this point, they cant have what you dont have and worrying is like a rocking horse, it gives you something to do but doesnt get you anywhere.

Chin up kerrie, it will get better.

Take care, good luck and post back.

lily

[kerrie2]

I HAVE TRIED CCCS, BUT NOW HAVE A NEW LINE ,IVE BEEN TOLD TO TRY ACCUMA THAY ARE VERY GOOD IVE HEARD SO IF ANYONE IS USEING THEM PLEASE GIVE YOUR FEEDBACK.IT WILL BE GREATLY APPRECIATED.KERRIE

kerrie kirkham

[lily]

They have a good reputation on the whole, but they were incorrect on a couple of points in my own case.



lily