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debt, defaults and stress :(

3 replies

WinnerWinner · 09/12/2016 14:12

I’m looking for a little advice regarding debt. I’ve name changed for this as don’t want to be judged as I’m a frequent poster and have turned my life around massively.

When I was 18 HSBC offered me a £1000 overdraft which I stupidly took! I’d never had a credit card/overdraft and didn’t really understand what a default was and what the implication were. I met my ex boyfriend at 18, was regularly using cocaine at 19 and ended up getting two credit cards, one catalogue and pay day loans for us. It makes me feel sick now. For about two years I didn’t pay anything back but recently contacted all my creditors large amounts as I wanted the debt clearing. I lost my job recently, panicked and cancelled all my direct debits to ensure I had money to see me through the month. I have around £3,000 left to pay.

I haven’t told my OH, he knows theres a little debt I have but now we’re serious about getting a mortgage. I have six defaults on my credit rating so I have absolutely no chance and probably never will, so it will be in his name but I’ll give him money towards a deposit. He knows I was in an emotional, physical and financially abusive relationship with my ex and have worked very hard to better myself. I got away, went and stayed with parents in South Africa and did some charity work and found myself. They know of my debt but can’t help and wouldn’t expect them too.

I earn £20k and don’t have much disposable income as have a car finance and bills to pay, but I’m willing to pay at least something each month. Do I get a debt management plan? A debt relief order? I want to be able to have a little left over each month and I’m scared they’ll try and take every penny (rightly so but even still I’d like a life to buy some foundation each month!) Grin

Again, please no judging, I don’t speak to people in RL regarding this as I’m so embarrassed. I can’t face telling a friend. Sad

OP posts:
GinAndOnIt · 09/12/2016 14:15

Visit StepChange and fill out their form online - they take into account all potential outgoings before working out a figure you could afford to pay back, including things like clothes, so they won't take every single penny. They've really helped me out and I have around £20k debt!

WinnerWinner · 09/12/2016 14:19

GinAndOnIt Thank you. I feel a little embarrassed that I contacted my creditors and then panicked and cancelled the direct debits. I hope they can help.

Do they need proofs of payslips/bank statements or anything?

OP posts:
GinAndOnIt · 09/12/2016 14:34

Yes but it was really easy. I'm trying to remember what I did but I did it all by email. I think I just had to send a screenshot of my online banking for each debt, and a screenshot of my wage going in. They are really kind and friendly on the phone too, if they need to discuss anything.

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