Desperate, and Banks keep saying no

researcher

Have you thought about looking for another job - something that's permanent and pays you 52 weeks of the year. If you're in employment it's always easier to find something else - register with various employment agencies and try and arrange for multiple interviews in the same day - or in your lunch hour/early morning/late evening so as you don't lose much time from your current work. Check local papers for vacancies and remember the closer to home you work the less you spend on travel (and time).

It's really hard I know, but you've got to start thinking about what you can do, rather than what you can't - and once you're on the right path things really can and do get better.

I think that the refusal of credit you've experienced can be seen positively, as it's forced you to confront your situation, rather than getting you deeper in debt. Good luck - I know things will get easier.

mariannemarlow

jobbingmusician wrote:

You keep saying that you don't get paid for holidays, but this is actually illegal! Does your payslip say each month that part of your pay is for holiday pay? I understand that some employers can do this to get around the Working Time Directive. If your payslip doesn't show separate holiday pay, then have a look here (there are probably loads of even better sites if you Google 'entitlement to leave, Working Time Directive' but this computer is misbehaving atm so this is the best one I can find)

All employees are entitled to a minimum of four weeks' paid leave... :rolleyes:

my annual leave pay is in with my hourly rate. that way they can guarantee that i wont take any time off. they are paying me through a consultancy so that i pay reduced tax. means i get something like £70 a week more than i would otherwise. im wondering whether it was a cack idea

but i cant afford to drop my salary now.

jobbingmusician

Awww, don't feel bad about it, it was probably a good idea if you're trying to pay off debts I was just checkking that YOU aen'y being ripped off (it would have been lovely for BOTH of is if we'd found out you were entitled to an extra 4 weeks a year )

mariannemarlow

jobbingmusician wrote:

Awww, don't feel bad about it, it was probably a good idea if you're trying to pay off debts I was just checkking that YOU aen'y being ripped off (it would have been lovely for BOTH of is if we'd found out you were entitled to an extra 4 weeks a year )

yeah it certainly would

mariannemarlow

i have thanked all the people that have replied to me today.

thanks guys for giving me hope.

Marianne
x

jenk_3

Hey Marianne, check your pm's

mariannemarlow

jenk wrote:

Hey Marianne, check your pm's

hello!

for a min i thought you were my sister, as she's jemk on some boards!

Have replied to your PM.

Thanks for the support.

M
x

roswell

Lottery is costing you £96 a year and washing machine insurance is costing £90 May i suggest scrapping these, a second hand reconditioned washer will only cost you £100 if you have paid this insurance over 6 years you have payed £540 for "If your washer breaks" effectivly you have probably bought 2 or 3 new washers. Lottery is pritty much a none start if your honest with yourself, after all there in it to make money for the one in x million chance of winning your better of clearing your current debts till you have expendable income to play the lotto with.

Possibly change to a water meter should save you some money and cost you nothing, another tip when your on a water meter put a 2 liter bottle of water in the toilet cycten to save on usage,

go round the house an unplug everthing and lable the plus with paper and sitckey tape that way when you use something you can easy pluy it in and when you dont use it it wont use standby power, If you have a power shower turn off the isolator switch after each shower, turn the fridge / freezer down its winter so whouldnt need to be on above 3 or 4, turn your hot water temptature down on your boiler, if you get steam off the water out your taps its a good indication its to hot 50 or less should do.

Write to your creditors and see if they will freeze interest for a few months this way you can clear the most off the most expensive debts.

eventualy you will be debt free it just take time and re adjusting your look on life / money

banzai

mariannemarlow wrote:

Hi

I am hoping someone can help me.

I have massive credit card and loan bills each month and although am on a decent salary am still spending more than I earn each month.

I am trying to re-work my loan and credit card payments by getting better deals but I keep being refused.

I don't know what I am going to do.

Is declaring myself bankrupt an option, or would that affect my husbands credit rating aswell?

Feeling rather desperate after being turned down for a loan for the 2nd day in a row.

Oh, Im a temporary worker aswell (although this didn't stop my bank from giving me a £15,500 loan a year and a half ago)

Any help would be appreciated.

Thank you

Marianne

I have seen many similar situations to this as I have worked in debt collections department in a bank in the past and am currently working for a debt collection company.

Loans that are specifically for debt consolidation (although potentially higher interest) may be an option, as they are more willing to lend to people in situations similar to your own. If you do decide to take this route, don't bother with all the companies that are advertised on TV, try speaking to your local citizens advice bureau, they will offer much better rates as they aren't out specifically to make a lot of profit.

As others have said, I personally would contact the company, you may be suprised to hear that they actually rather help than have bailiffs coming round to your house. I know a previous company I worked for would accept 1% of the total balance per month as payment, and would gladly freeze/ lower the interest as long as payments were coming into them regularly (monthly, fortnightly, weekly). Note: Most companys will put your on a 3 month payment plan, then get you to call in so they can increase the payment level slightly... this can be useful to buy some time

Declaring yourself bankrupt is an option, but i would save this as a VERY last resort. Bankruptcy will majorly affect your credit file, leaving you unable to obtain credit for a while. In relation to your question about your husband, this shouldn't affect his credit rating as on all credit files it is only the individual who is affected, that is unless you have joint accounts in which case his credit file would also be marked down.

Another important thing to remember as others have mentioned is to try and get rid of unneccisary outgoings, the lottery for example.

Good luck in clearing your debts!!!

researcher

Hi Marianne,

thinking about your mobile - I've recently changed my contract with orange, and their high street store were giving £100 trade-in for any old phone (and believe me the one I found in the back of the draw was old) - half price line rental for 6 months and a brand new phone which I could have sold for £300. All I had to do was change my number, as the deal wasn't available to existing customers. I've even got orange to transfer the credit balance from the £100 trade-in into my bank account! Sometimes pay as you go isn't the best option - but paying £45 per month isn't either!

I'm with you regarding the lottery, for £2.00 a week I'd play - maybe not very MSE, but I'm of the opinion that you have to have hope. What I'd suggest though is that any winnings go immediately towards the debt with the highest interest - even an occassional £10 extra will clear the debt faster. Just don't be tempted to use it on 'treats'! Who knows, you might even get a decent win. :j