newbie

clarissa_D

hello everyone
1st of all i'd like to say that i have found this website and MAKE ME RICH program really good
ok heres the story in 2003 when i was in a good job earning 11k around 800pm i helped a friend out with her financial situation i got a 2,000 loan out for her i now wish i hadn't !! i have got county court letters ect for all the hassel, the agreement was when she cleared her bank debt she was getting a loan out to cover mine, never happend this is with LLoyds TSB, it has spiralled out of control with her payments bouncing caused charges and overdraft, she now has 1060.74 of the loan to pay and she owes 259.26 in charges.
i am now unemployed and 7 months pregnant, on income support also paying back crisis loan from my money i get. and really in need of this added extra stress oh her loan on my shoulders, i wanted to help a friend out but i got dun.
if theres anyone with info i would be grateful

---lee---

Hello clarissa_D. Welcome to MSE.

I’m sorry that you find yourself in this situation as you have been let down by a ‘friend’. Bottom line is, that if you signed the credit agreement, you are responsible for the repayments.

You may be able to start seperate legal action against your friend to try to recover the money, but unless for example you have a written agreement with her it would be difficult to prove the background. You would need expert legal advice on this but it could be worth a try.

Others will be able to advice on what you can do in the meantime to get the debt back under control. There are a lot of helpful people on the boards. Good luck.

VenuS

I agree with Lee melissa, try the small claims court against your "friend" (would you call her that now?) and try to recover back the money you loaned her plus expenses.

If you gave her the money via cheque or a bank transfer these can be traced and proven that she had the money from you. Courts don't always need a written agreement to prove you gave someone money. It's not a dead cert you will win the case, but it's worth try. You might be able to claim legal aid, but Im not sure if thats the case in the small claims, so seek advice first.

As for TSB, they do have a right im afraid to persue only you for the money, as you solely signed the credit agreement. You seriously need to get this sorted out asap, as you will end up paying dearly for this for future borrowing.

Maybe try one more time talking to your friend and explain the predicament she has put you in?

-VenuS

---lee---

VenuS wrote:

If you gave her the money via cheque or a bank transfer these can be traced and proven that she had the money from you. Courts don't always need a written agreement to prove you gave someone money. It's not a dead cert you will win the case, but it's worth try. You might be able to claim legal aid, but Im not sure if thats the case in the small claims, so seek advice first.

OP, hope I did not sound too negative - this is defo worth a try and it's only £30 to file an online small claim. I would seek expert advice first though and I'm sure you can get 15 mins free with a solicitor.

clarissa_D

ok thanks for the advice, but i do have courts on my side i already have files and sent it to Lloyds TSB so there aware of the situation and are on my side. found out that its and APR of 16.61% !!!!
i have thought of another way to clear my debts and charges with Lloyds TSB, and finally have savings as well i have to do a plan of it to see how long it will take to do but i'm finally feeling a bit better. now all i have to do is see when i can get my two bedroom flat with the council wich i have been waiting for since i was 2 months preganant ( now 7 months!!) and i'm high priority as well !!!
i love watching the series and wish he would bring out a DVD,
i'm hoping i can help find my family cheaper ways of living now lol

clarissa_D

yay yup i may of found a way out of debt !!
im going to be a credit card tart im looking forward to doing balance transfers
the loan now stands at 1040.69.
and payment arrears are 292.76
plus the 246.04 overdraft
total loan 1579.49p
and she pays 70.00 p/m it should be cleared in 2 years (24 months) and the loan is for 40 months, gives me an extra 16 months of money = thats 1,120.00 to save up in ISA account!! :rotfl:
wich means im not getting dun anymore and the 3 years of hell i've had with her i will finally get something in return!! this comes in handy with a new baby nearly a month old.

clarissa_D

hello everyone well i am not in my 2 bed flat with a 2month old baby.
ok heres the tally up
loan balance- 967.47
re-payments missed - 323.68
and overdraft owed- 145.82
total - = 1,436.97p

if i can get a credit card i can balance transfer all this money say 2k then i would have 563.03 to save.

this is her debt not mine she still currently pays me 70.00 p/m

ok me i have about 500.00 in savings i think.
i get child benefits 17.00 p/w
income support 36.00

my debt it crisis loan i pay 6.61 p/w it automatically comes out of my income support apparently this will be paid up 31st jan 07 i still have to find out how much i have left to pay off.i have calculated its 43 weeks = 284.23p

currently my partner has 800.00 o/d i tell him to get 0% balance transfer that way his apr % is low.
i ant to be a card tart. im a points tart lol i love boots and with pearenting club i have around 20 pounds for me this is loads.

i have people that can and have given me baby clothes so Keira will have savings, i will be putting her 17 p/w away in bank.
i may be doing a magazine feature ill be getting 300 for this also to save up.
i was interested in the wedding section as we do plan after 6 years and a baby later to get married lol after thinking it over i have the following-wedding--
make up - cousin (poss free) nails i would go student
hair- jan cheap
photographer - free i have 20 photographers on tap
music- poss free as uncle does it
invitations- free i can make myself
dress- cheap i think my auntie can do as she a seamstress
cake- auntie
obviously i would need to hire a hall and cars also church (unsure as not religious)
any way i use 02 geunie 10 p/m 300 free texs plus i have 10 plus i have ordered more coming i have and will be giving them to friends and family
i have decided i will be going to college to learn business admin, web design, digital photography.
this will be free plus i will also get learner support fund and possibly EMA 30.00 p/w
i still have to sort out my child tax this will be backdated as well i have an office near me so i will do asap.
i dont really spend money 1 thing i will get sorted is my electric and gas i want a non meater just a card.
anyone got any tips on how i could go about saving on pack lunch tips? and how i can get credit card i have martins book its fab!!
i have ways of earning money but i need a digital camera and other accessories as im going into modeling again and getting keira into it
ok i also have catalogue bill i have paid 100 i needed new wardrobe for new flat 199 for one and 135 for another = 334 -100 = 235
we didnt have much luck on selling items on ebay but i posted on a forum and had alot of interest in it heres hoping it works as now i have fiance that is sticking to 1 army eg warhammer.
anyway will update when i have news. thank you
from clarissa_D

lynzpower

Baby modelling is a fantastic idea for your little un, have a look on the internet. A mate of mines baby was in hollyoaks for 2 episodes, dont know what my freind got for it, but it was better than nothing!!

Is there no way your freind could get the 0% CC on her own. She cant be in any worse position than you re her income? Just a thought. Seems silly to take on the debt for her really, if this can be avoided.

Also if you have been done for charges, have a look on the website in my sig, you MAY be able to claim those charges back as unfair? Have a look the process is straightforward, but you HAVE to follow the steps theyve laid down.

If you are being thrifty, dont buy stuff from the catalogue, have a look at https://www.freecycle.org.uk ( everyday people giving stuff away so it doenst get wasted & into landfill. As an idea Im giving away 2x chest of drawers, tv table, mattress this week, and big bits of furniture are ALWAYS going begging. Or your loical furniture recycling project- if you are on IS you are likely to be entitled to use that. DONT spend 350 on 2 wardrobes ( and thats minus the interest!) just dont. catalogies are a rip off. They may not be perfect- but you can make do till you are in a better position.

Congrats on the course. Do have a look around or check with your job centre if there are any other bits you can get like clothing grants, bus fars to interviews etc, when you are ready to start looking for work. Chances are there will be charities that you can apply to to get the money for the camera and any other stufdy materials you need. Just takes a bit of finding, thats all.

Have a look in the credit card section most of the info you'll need is there. But take my advice and cut the little devil up, else you will end up in a state.
Lots of love
lynz x

clarissa_D

hello kynds well this girl is even more debt then me she has c.c.js and credit card bills and cat bills i think 3 years ago she told me she owed 15k in total so no she is unable to do that for me now i have difficulty getting 70 pounds off her each month. erm already started paying catalogue bill now and love the wardrobes.
i save on travel i used to pay 52.40 on travel and around 80.00 on mobile phone costs now i tend to walk places now or if i need to go out its 3.00 as i normally just get 2 buses if more buses i pay 3.50
i just got BT bill 80.00 for 3 months but i changed to talk talk and i recieved a letter from BT about leaving them so im confused now! i wont be paying it as i have been waiting for talk talk pack.
and yes that gir does get more then me but she doesnt work she has spinabufida.
yes i cant wait to start courses as well.
i think theres a c.c for people that have low credit rating see the longer i go without the balance transfere the more debt created wich is annoying any tips??? still need to fill forms out.
although i may now be getting a little job and bonus i can take baby with me its only for 2 hours but extra 100 pm .

yay im getting there

thanks fr reply

clarissa :rotfl:

lynzpower

Good news about the job Clarissa, and pretty rare to get anything where you can take a little un

Realyl what I know about credit cards is really not "advice" at all, they were my downfall and continue to be so!! So Ill let someone else advice you xx

clarissa_D

i managed to hopefully sor out the debt i hope, money will be taken out 25th of every month there consolidating all the debt and overdraft so the 70 pounds per month 50 will go towards the loan and 20 pounds will clear the overdraft this will take 17 months. i have a water charge debt to my old property this will take 7 weeks 20pounds per month.
im really enjoy my new job it is cool i get to sit down and drink tea. i had pay of 20 pounds last friday i payed that towards my catalogue bill im hoping i can start earning money and build a portfolio also college course on things really want to be a good provider for keira!!
i finally started getting my child tax credit yay i will have to tally up my incomings and out goings.