OMG...my first step...I cancelled my debt consolidation payment

[mindyandy420]

Oh....here comes the stressful times....My first missed debt consolidation payment....its just a matter of when the creditors will call.....I meet with my lawyer tomorrow....This is step one....

[hopeforus]

I feel like you right now. We canceled our automatic draft for our mortgage today and had our direct deposit changed to a new bank hubby opened. It freaks me out that on the 4th... we will miss our first payment ever. Sigh. Nice to know that we can take that money and move us to join my husband in Ohio however... the save for the bk attorney.

[JRScott]

Congrats on making the first step , we all have to make those adjustments to get us through.

[TEW]

That first step is a little scary but when you look back at it in a couple of months it will feel good.

[lillaimof2kids]

Congrats on taking that first step! Keep a VERY close eye on your account if you had automatic withdrawls. Even though you canceled your payment, they may still try to get the money. I had to change my bank account number to finally put a stop to it.

[hopeforus]

I know... i was worried about that as well. We are hoping we can just get the direct deposit switched before the 1st. We get paid within the last few days of the month... our mortgage comes out on the 4th. I'm hoping we could just wire it all to our other bank if need be. We have to get that money out if the direct deposit switch doesn't go through quick enough. Anyone know how long that takes usually? We can't pay on a rentals without that money...

[WoodSprite]

Oh....here comes the stressful times....My first missed debt consolidation payment....its just a matter of when the creditors will call.....I meet with my lawyer tomorrow....This is step one....

I feel like you right now. We canceled our automatic draft for our mortgage today and had our direct deposit changed to a new bank hubby opened. It freaks me out that on the 4th... we will miss our first payment ever.

Congratulations to both of you. It's a real leap of faith, but it's going to be the best thing you've ever done. Hang in there - everyone here knows how you feel!

[GreenInkOnPaper]

Yay!

[endisnear]

Oh i hear ya on this! This week are the first CC pymts we are missing and also trying to see if mtg co will allow us to send partial pymt (which i doubt they will). Eeeekk! I've never been late on paying anything in my life and i know the calls are going to start shortly i'm nervous, and i REALLY hope they do not call my work

[GreenInkOnPaper]

If you answer the calls at home, they shouldn't call you at work. If they do, inform them verbally, then by mail to cease calls at your workplace.

I visualize collection callers as chihuahuas- Little dogs that barkbarkbark. When they call, just politely say, "I can't help you right now." and hang up.

Best of luck!!

[endisnear]

thanks green......i'm just so nervous! but we've known this time would most likely come. DH has been out of work for a year now, and with no hope in the near future of him landing something to make up how short we fall each month, we know what comes next. We lived off CC to make up the difference of what we needed between what his unemployment paid and the bills we paid, hoping that next month would be the month he'd find something.....well unfortunately it's gotten worse rather than better

[FU2MI]

I wish you the best! Dont think to much about it.....youre doing what's best...take your second chance when it's over and make the most of it!

on a different note...how much debt did you consolidate into one payment and how much was it? I'm curious how each debtor will act now that payments wont be made...please keep this thread up to date for us!

-Erik

[mindyandy420]

My consolidation payment

is $340. I was $440 but one of my creditors refused so I have to pay them separately. I only saved me $30 a month consolidating....(oh yeah)...not.
I plan to file Nov. 25th.

[applecake]

I know how you feel. The calls will start this month for us, too. It feels really weird to purposely not pay anyone, especially when for the last several years we've been busting our butts to make sure they got paid! I plan on answering my phone because I don't want them calling my relatives or DH's work. I can deal with it. I think the only hard calls will be the two ladies that have been working with me for the last few years - I've always been so concerned about getting those payments in and they've been very cooperative and helpful...I know it's a business decision, but it still feels weird and personal.

[hopeforus]

I know how you feel. The calls will start this month for us, too. It feels really weird to purposely not pay anyone, especially when for the last several years we've been busting our butts to make sure they got paid! I plan on answering my phone because I don't want them calling my relatives or DH's work. I can deal with it. I think the only hard calls will be the two ladies that have been working with me for the last few years - I've always been so concerned about getting those payments in and they've been very cooperative and helpful...I know it's a business decision, but it still feels weird and personal.

This... completely. Not for all of them but like USAA has been so good to us. I feel like we are letting them down. lol But I'm sure they don't really truly care for us either ;)