Help and advice needed urgently...:(

Troubled_Girl

NO 0 per cent APRs. I didnt have the details to end. One is 0% balance transfers, but has a monthly charge on all other areas of spending of 2.2%; and the other card is 1.5% on purchases, 2.2% on cash, but i dont use it as its full. The APR's i cannot find. Loans are fixed rate, but high, of course. The travel expenses are high as I will be communting in from Kent. Im doing my best to save here by asking my boss if i can travel outside of peak times etc, and spending some of the week in london with partner to ease travel costs.

rubydoiwannabee

Hey,
I just wanted to pop in and say hi and welcome. You are far from stupid, more like responsible and together. Well done for taking this step and although I don't feel qualified to give you advice I wish you lots of luck with your DFW journey.

xx

tyllwyd

With respect to the flat - I think you need to be a bit careful and find out the full situation before you rush to do anything official. I guess you didn't pay capital gains tax when it was sold because it was your main residence? That might not apply if the flat was being rented out. And if rent was going into your joint account, were you paying income tax on that money?

But at the end of the day, if the flat was in your name only, and the proceeds of sale were paid into an account with your name on it, it is going to be difficult to prove to your creditors that you don't have any claim on that money.

Troubled_Girl

thank you for your advice. Im trying to get in touch with the person who dealt with the accounts of the flat. I think my mum did everything in my name, and i think i have to assume that. Worst case scenario, is there anything i can do other than to repay? how can i repay if i dont have the money to meet even the minimum repayments? Its really scary.

Troubled_Girl

i cant ask my family for help for numerous and stupidly complicated reasons. they have helped me in the past, and they cant do any more. due to circumstances they cant bail me out, and the money from the flat is my mums rest of life insurance, and for my sisters. not me.

GeorgeUK

We need a bit more details on the cards. The interest rate should be on your statement. If you can't find the APR, tell use the monthly rate they arte using on the statement. You may need to call the bank if you use only internet banking to get this info.

You are really stretched right now and there isn't really anywhere that you can make great savings. You also have petrol etc to go into this don't you?

Can you tell us what kind of state your credit report is in? Late payments, defaults CCJ's etc. Also how many credit checks have you had in the last 6 months?

Gym membership and overdraft don't seem to be there.

Have a look to see if you can reclaim anything.
Bank charges, credit card charges, PPI on loans - also check the banding was correct at your property. You may be able to reclaim if it was wrong. Also check out https://www.entitledto.co.uk (possibly single persons living allowance?)
http://www.moneysavingexpert.com/reclaim/

hypno06

Hi there, and as others have said, there is nothing stupid about facing up to your demons - past, present or future. You have dealt with a lot and are dealing with the rest - be proud of that fact.

I would give CCCS a call (details at the top of this board I think) or go online and do their debt remedy. This will show you what you can "afford" to pay your creditors and will show you how a debt management plan can work.

The upside of this is that CCCS are a charity so won't try and con you into some fancy debt reduction scheme that actually costs you money. They have a good reputation amongst creditors so can usually get interest and charges frozen (though not guaranteed) so that all your money goes directly off your debt, not in extra charges, and they are flexible, so if you lose your job for example you can adjust your payments accordingly - if you get a whopper pay rise, you can increase payments and get shot of the debt quicker.

Obviously, there is always a trade off, and that is that you will be defaulting on your original credit agreements - these defaults will appear on your credit file for 6 years so getting new credit and a mortgage in the next few years will be difficult. Not impossible, but difficult so this is something to bear in mind if you want to buy again in the future.

However, it is a way of seizing control of your finances - CCCS work out a realistic budget which allows you to commute, to live, etc. It also gives you the ability to repay your debt at an appropriate rate and to move on.

Even if you decide not to go ahead with CCCS and a debt management plan, speak to them anyway - I have picked up the phone to them a number of times even though I am still on the "traditional" debt repayment route of just making my normal payments each month......just so I can be reassured I am doing the right thing "for me"......they are never judgmental, and in my experience very helpful. They have a good reputation on this board, too and also a couple of their debt advisors are regular posters with Martin's permission, so are around to answer queries too!

Good luck and keep posting!