Self employed, loads of debt - help

southernscouser

Also with Mint, ask them if they can offer you a deal. If they can't tell them you want to reduce your limit to £2,000. This may induce them into offering you a deal. If they still can't you are better off because you now have £8,000 less of potentially available debt which looks better to prospective lenders. :snow_grin

Also, when was the last time you got a credit report? I got mine 2 months ago and there were 3 old CC accounts still open with a combined limit of nearly £12k I think. The reason they weren't closed (even though I had asked them to be) was because between them they owed me 13 pence. Lenders don't know this and it looks bad on you. Also had a financial association with someone on my report who should not have been on there (now removed)! :snow_grin

tjak

Ah, no the saving up bit comes after the debts are cleared. The only savings I have are for my tax bill (£800 in premium bonds). I know if that isn't saved as I go along, I would spend it, hence the premium bonds. I won £50 last week too!

southernscouser

ms_london wrote:

If you have saved up money, perhaps it is best to clear the debts with that (as you'll pay out more interest on your debts than what you are earning on your savings) and then save, save, save again. And can I come with you :0)

Think she meant when he qualifies, then they save up some money! :rolleyes:

Blonde moment alert! :snow_grin

ms_london

southernscouser wrote:

Think she meant when he qualifies, then they save up some money! :rolleyes:

Blonde moment alert! :snow_grin

DOH!!!

southernscouser

ms_london wrote:

DOH!!!

Hey thats my line! :rotfl:

(apologies for hijacking thread)

Wiggly_Worm

Phew, looks like you're getting pummeled into financial shape pretty quick

Here's my thoughts, for what they're worth:

pet insurance: ditch. Most likely you will never need it - consider putting aside some into a savings account. Ditto with your health plan. Self insure, you get the cash if you don't need it, and the interest if you do.

Hubby doesn't need a job. We have two kids, dh is s/e and we struggle for cash too, but being a stay-at-home mum is more acceptable than a stay-at-home dad. Why is this? It bugs me. I'm guessing dh couldn't look after the toddler with his studying?

Call NTL and say you can't afford their package and will be moving elsewhere unless they can make you a better deal. Chances are they will!

I'm *sure* someone's said this but I'm too lazy to check (sorry): shuffle your credit cards so you have the least possible amount on the highest interest and the most on the lowest interest.

Um, that's all I can think of now - there is a thread somewhere on here about telling NTL you're leaving coz you want freeview, and they panic and lower your package cost

good luck anyway



TALK TO your creditors, say you're struggling with payments and ask for a reduction in repayments for the short term. Again, chances are you'll get it. You just need to be bold enough to ask (I've done this).

Make sandwiches for lunch, buying lunches is a rarely noticed drain on finances.

Bestthingsinlifearefree

Apologies for my ignornace but what is "viticulture" and is there demand for some one who is qualified in it in the UK or New Zealand ?

What sort of salary would some one newly qualified in viticulture get etc etc.

Wiggly_Worm

OK, so the computer shuffled my post!

Hope the randomly placed paragraphs made some sort of sense :snow_laug

tjak

Viticulture is winemaking - there is some demand in UK, but very low paid
NZ offers far better career prospects and good standard of living

southernscouser

Bestthingsinlifearefree wrote:

Apologies for my ignorance but what is "viticulture"?

I was wondering that aswell! :rotfl: