To think I've really messed up

[weltonn]

Got a scary letter from the bank today over an unpaid credit card debt. I'm ashamed to say I totally buried my head in the sand and avoided it until now.

I suffer with crippling anxiety due to other issues unrelated to my debt and have totally struggled to talk about the situation I've gotten myself in. However, I know this is the worst way to deal with it and need to get it sorted once and for all literally for the sake of my life, as I've often had suicidal thoughts because I just cannot see a way out.

I've now been told I've lost my right to pay in monthly instalments and that they will sell my debt elsewhere who will then demand the payment in full or take me to court.

The ironic thing is, I work in finance doing admin and would lose my job if I ever got a CCJ.

I'm terrified and feel so stupid for letting it get this far. I just want it resolved. Is it too late though? My job is at risk

I think I've really messed up this time, haven't I?

I'm here holding your hand too. Make a big cup of sweet tea, and sip it while you make the call. When it's all done have a bit of chocolate/cake :)

Once the call is made, you WILL feel better and you WILL sleep better, and everything will seem brighter.

💕

@Wannabegreenfingers

It seems scary, I've been there. Stop burying your head. Call them. If the debt has already been passed over then there won't be anything they can't do, but you can contact the debt agency once you know who they are. They will set up a sensible debt repayment plan.

Unless your employer runs regular financial checks on you, how would they know?

Some employers (financial services particularly) will run periodic credit checks if agreed in your contract. Although, quite honestly I used to work in FS and never known anyone declined a job for credit history, let alone disciplined once employed.

@pinkandstripey thank you. I wasn't sure how it worked.

Come on @weltonn. You can do this. You'll probably be on hold for ages in any case Set yourself up with a cup of tea/coffee, glass of water, and some biscuits or crisps. Think of it as you doing them a favour - if you're responding to them, then they won't keep having to chase you (and trust me, when I used to have to chase up debts, it was the part of the job I hated most). See what they say, and then come back to us. PPs have a much better understanding of how things work than I do, but we're all here to hold your hand.

@pinkandstripey I've PM'd you

Ringing them now, here goes..

good luck

Good luck. I know it's scary but contacting them is the ONLY way to stop it getting worse

Firstly, I understand this is causing quite a lot of anxiety for you . Depends on the bank, but if it is a mainstream bank it will have processes at the moment for forbearance, i.e. for helping people who have run up an unexpected debt. Go into this meeting having worked out what you can pay. Be prepared to negotiate and ask them to reduce or remove the interest whilst you pay.

Also, it is worth speaking to the debt change charity Step (Change). I cannot post the web address here, but it would certainly be useful to speak to them today before going back to the bank.

Well done, OP - hope it went ok!

Hope all goes okay OP! I’ve gotten myself into silly situations before because I was too anxious to call someone and get a payment schedule sorted out. Thankfully once I actually did pull my finger out, it was very straightfoward. Hopefully it will be the same for you.

Well done for phoning @weltonn, hope you got it sorted but if not please come back here. You've had some excellent advice and you can get past this.

My husband works at Stepchange debt charity. They provide a free service that gives people advice to becoming debt free whether it's a repayment plan, settlement or a form of insolvency. They just need your income and expenditure figures. Good luck

Sorry to hear this op. This makes me so glad I live in Scotland where bailiff visits are illegal, must be really scary. I hope you get it sorted and don’t get a visit

OP if you don't feel able to contact the bank directly please speak to citizens advice. They are doing consultations over the phone and in person. My DM is a volunteer and helping sort out debt is a big chunk of what they do day in day out. They can call the bank on your behalf and arrange a sensible repayment plan. They will also help you budget and access any help.
If people in your position didn't call them they'd be so bored sitting there eating biscuits all day (at least that's what DM tells me) so they would be very glad to hear from you, please use their amazing free service if you need it.

I've had the phone call and spoke to a really lovely, helpful guy who went through my income and expenditure. We've agreed that I can pay an amount monthly towards the account so that it doesn't go any further.

I feel so, so relieved I can't even explain. Thank you all for your words and for giving me the courage to pick up the phone and get it sorted.

Well done!!!!

A good result; well done.

Aww - good for you, OP!

Ah, that's great, @weltonn. It's horrible how these companies frighten people. I'm glad you've got it sorted. You can relax now. Definitely make sure you're getting the right benefits going forward, and contact CAB if you get stuck. Winter's expensive, and there'll be other ways to get through without incurring further debt.

Well done OP! You’ve had really good advice, and you’ve been really brave making the call. Glad you can see a calm way forward...

Lovely to see MN being a source of friendly help and advice.

I’m so glad you have made the call and have a plan to move forward with. Well done!

@weltonn you are amazing, well done 💕💕

Nice happy ending.