I've been really stupid

Billy_two_speakers

*twinkle* wrote: »

Guys i'm a old poster from a couple years ago with a new user name, there are a few local friends who know me using my old name and i'd rather this was private if thats ok.

Its a long time since i've been here My OH had a promotion and I started working more hours and due to help on here our debt was a manageable level, the cc's were clear, just one loan left and things were good. I could have thrown plenty at the loan to clear it quicker, but of course it was always going to be next month.

I've just had a real wake up call, due to the credit crunch my oh's wages have dropped dramatically this month and are set to stay that way and we have also lost our free company car. I had no idea how our bank balance looked, lots of unopened statements again, i've just looked how much i've put on my CC in just 8 weeks alone and i'm ashamed this smiley by no means covers how I feel. I really can't believe i've done this when I knew things were bad :huh:

I've just looked at our budget and i'm £150 a month short, i'm going to cancel the pet insurance for our 2 dogs before it gets renewed next week that saves £35 a month and hubby is going to have to put his pension on hold until things pick up...i'm going to have to tell him tomorrow. There is no way I can tell him how much is on the CC, he has been through this before and was so upset, he thinks i'm managing everything fine and has enough worry just keeping his job right now... I really can't believe I could be so stupid and keep making the same mistakes...how many lightbulb moments is it going to take :wall: I'm virtually back to square one

Sorry a real depressing, miserable post, but there is no one else I can tell. At least i've put the brakes on and pulled my head out of my backside, before it got worse.

So can I come back please and start all over again...

It's not like last time this time you know whats going to happen and you already know how short you are, many dont know that till a long time down the line and still they dont believe it,

the hardest part this time wont be sorting out the money, but being honest with your partner.............

he might shout scream you just might do that too, but its got to be done

and I am not going to give you any crap about find the right time because there will never be a right time :eek:

*twinkle*_2

Thank you billy and angel :A

I have a passion for doing the debt training because, yes I know how scary it is and there are so many people who suffer in silence because they don't know where to go for free help, I didn't sleep so im not thinking straight to talk to them now, I think I may say to them I need six months to a year out to concentrate on this, but I will do the training now if they would like me too as its all arranged. I think you can do it if you are in debt, but only if you prove you are good at managing money now and tbh I don't feel I am right now.

I think i'm going to have to get an evening job, I know of two going one 10 hours and the other 16 hours, I work 28 now so it will take me to full time. The 10 hour one will give me an extra £200 a month which for now will balance my outgoings and give us a little extra to throw at the cc.

Ok our debt is 25k this is

£14200 loan 52 months left
£1100 cc at 4% interest as it was a balance transfer
£4700 cc 17.9%
£4200 cc 19%
£900 overdraft

I have sold something for £6000 so this will pay off the cc and overdraft and will reduce my monthly outgoings by about £150 this then sorts my shortfall and I can use the money from the second job to throw at the remaining CC.

Plan for today

Tell OH
tell kids things are tight (they are older)
cancel dog insurance
get oh to sort pension
see debt training people and explain
go through budget to look for other savings
quickly do a cv and drop them in before work
get to work!!!

wish me luck

Bunnyinthelights

((((HUGS))))) Twinkle.
Well done on facing the issue. You'll get there. x

Piquant_2

Hi Twinkle

Well done for facing up to it, it's not easy, but as you probably know, you can become a bit of an obsessive about clearing the debts! I'm addicted to the payment a day challenge, by paying off a pound or so here and there, I've managed to take nearly £200 off my visa debt!

I owe a similar amount, so I'll be with you every step of the way - good luck

Piq x

Pollycat

Just stumbled on this thread.

Twinkle, you sound a different person now than you did in the early hours of this morning.

You've obviously learned from what happened before and have acted swiftly to sort things out.
Hopefully, this 'wake-up' call will ensure that when you get your finances back on track (and from the sound of things, that won't be very long at all). you'll not fall back into the debt trap ever again.

Good luck

GeorgeUK

Hi Twinkle - hope everything goes well today.

Just a thought, but hopefully it will help - don't close down the card you pay off.
Wait until you get a statement with a nil balance, then phone them up to ask what your interest rate is and if they have any balance transfer offers at the moment. If they say no, then ask to clsoe the card - when you are put through to card closures inform them that you were talking to one of their colleagues about balance transfers and were told they may be able to offer something. Hopefully you'll be able to get a 0% offer for a few months or a low interest LOB offer.

If they can't offer anything, try again next month.

immoral_angeluk

Sending massive hugs you're way. Please don't be disheartened. You couldn't help that your Oh's wages dropped. These things happen.... bu well done for dealing with it before it gets too out of hand.

:grouphug:

*twinkle*_2

Thank you again, i've just done a cv so i'll go before work to hand them in.

Piquant I will look for that thread later thank you, just paying things off once a month you start wishing you life away don't you.

Polly thank you yes I do feel better now i've faced up to it and i'm starting to feel in control, its going to take a long while, but we will get there.

Its funny I was lying in bed and I kept remembering things I buy on a regular basis, but didn't include in my budget, dog medications etc. Its amazing how you can have a totally unrealistic budget, hopefully now I have everything.

Luckily one of my CC's has been stopped, don't know why as it was paid on time and has about £4000 available, but i'm not going to find out so theres no temptation. At one time not having that as a safety net would have frightened me to death, but today I just feel relieved that my spending sprees are over :T

Pollycat

And Twinkle, just think:
You've had TWO LBM's and some poor people out there who haven't discovered this site yet haven't even had one!

maytaurus