Help Debt making me ill and depressed

[geministar2007]

Hello

 

I am getting in a mess. I owe just over £14,000. I have sought advice and trying to sort out a debt management plan.

 

However as i had been laid off work and currently waiting to start new employment on 26th February, this delays the process.

 

I am also worried that they want proof of wages, and i think my budget sheet may be a little inaccurate as to the amount i bring home a week (it is more than likely to be this amount, but worried may fall short some weeks). so i may just fall short of the dmp criteria of £100 a month left over.

 

I cannot afford to go bankrupt i'm literally living off nothing. I thought about an IVA but again this requires a fee and i owe slightly under £15,000.

 

I have wrote to my creditors explaining i am in the process of setting up a DMP, i gave them all small token payments. I am worried that the DMP may fall through.

Does anyone know of any organisation that accepts a slightly lower monthly amount of income to arrange a DMP? ( I'm currently going via National Debt). Or any advice on any other options would be great.

 

I just dont know who or what to turn to lately. Can't think straight. I have been diagnosed this week with Borderline Personality Disorder. So currently getting my head around that.

[tomterm8]

Right.

 

Firstly, are you claiming all the benefits you are entitled to? entitledto

 

 

if you are on benefits, THEN, you should not be paying more than a token payment of £1 per debt, anyway.

 

Have you contacted the National Debt Line or Citizens Advice Bureau (Who, as far as I am aware, do NOT have any limit to the disposable income they offer before setting up a DMP)?

 

Finally, can I suggest posting on our new forum http://www.consumeractiongroup.co.uk/forum/effects-debt-health-lifestyle/

[geministar2007]

hi

 

all benefit avenues are covered.

 

i am in touch with the National Debt line who have said unless my monthly figure is at least £100 then they cannot offer a DMP.

 

with the figure they have now (with me stating more hours than contracted) i have 103.00 this will be far less though once i have proved my actual income.

 

help!!

[tomterm8]

As far as I am aware, the National debt Line doesn't do DMP's anyway.

 

The citizens advice bureau does manage DMPs for under £100 disposable income per month, and CCCS has a plan whereby they will do a DMP for £50 or more per month if it very likely you will have income over £100 per month within 6 months.

 

Are you living entirely on benefits, or do you have a job?

 

If you are on benefits, I don't believe you will have disposable income anywhere near £100 per month. the standard recommendation in that case is to pay no more than a nominal sum - i.e. £1.

[geministar2007]

the national debt refer you the a dmp mine will be under payplan.

 

this in not enforceable till i am at work, i start on the 26th feb. (i am looking at reducing my rent my moving into a smaller room, less rent) so this will then bring back up to just over £100 for my DMP.

 

thank you for advice from other sources.

[tomterm8]

cool. In the mean time, have you looked at the info on the site about reclaiming any penalty charges?

[geministar2007]

no i havent. what charges could i get back?

 

i have had late payment fees on most credit cards and then the obvious interest.

 

i have also had the odd bank charge going over overdraft and defaulting on my loan.

 

Another thing i would like to know if anyone can help, how long does it usually take for creditors to send your details to a debt collection agency?

i have missed MBNA payments since Dec, i have wrote to them all last week with token payments.

 

once the debt collection agency recieves my details how long do they give you before baliffs turn up?

 

My DMP will be sorted by mid march. Hoping i wont have the baliffs visit before then.

[eggy12]

I set up DMP in june mbna agreed and got first payment in july sold debt on in december, hope that helps