My Debt Diary

James240

cheers kip :beer:Right my mate and his girlfriend asked me at the weekend if i would be able to pay 3 months rent in advance when i get paid cos they have got into a couple of difficulties with there joint account. They did say that if i didnt have the money to do this then it isnt an issue and not to worry about it. (ive kinda shot meself in the foot with this cos they think im saving for a house at the moment due to all the overtime ive been doing, they have no idea im in debt so thats why they have asked :doh: )Basically ive done me sums and ive worked out i can cover 3 months rent with the overtime i will be paid at the end of July. August will be a bit of a tight month but i will have 3 months worth of rent out of the way so basically i can throw the money that would have been spent on Rent monthly, at me debt for the next 3 months.So next time i have to start paying rent will be from the 1st November :jPlus They have also asked me to hold onto the money for the Broadband as well cos i pay them monthly for that and the bill comes in quartley, so when the bill comes in they have already spent the money :rolleyes:I know this makes August a tight month for me, i wouldnt hesitate not to help them out cos they are fantastic friends and have always stuck by me, even when i had problems with an ex of mine who was a complete nightmare.I know some people will say im in debt and i need to look out for myself, but i will only have one tight month and then after that i can start making more ovrepayments on all my debts

Verbatim

Sounds like you're a pretty good friend too!

So glad you're doing so well James. What a slog tho', hey?
I'm off on hols to France in a couple of weeks, thankfully. All paid for months ago bar the spending money, which I've budgeted for.

Imelda

Hiya James,

I'm a bit of a lurker on your thread, popping in now and again to check up on you but never have much to say, especially as you're doing well on your own!

Regarding the rent issue, as long as it doesn't mean getting into anymore debt then, yes go ahead and do it. Like you say it's something you'd be paying for anyway and the 2 months you're paying nothing you will be able to pay more off your debt. If it will be too tight, how about meeting them halfway and offering 2 months rent? You're still being reasonable. Also, remember to put aside the broadband money or you will encounter the same problem as your friends each quarter.

xbox

James240 wrote:

I know some people will say im in debt and i need to look out for myself, but i will only have one tight month and then after that i can start making more ovrepayments on all my debts

Edited for clarity

Don't be a mug

Yes they are your good mates - but even with the progress you have made, youv'e gotta look after #1

Clearly they are having issues managing the monies - you've been there - took you a while to learn that you've gotta face the music and cut back - but you did and I can see you feel better for it

In my view you will be helping them by NOT giving them an advance

What happens if they can't pay the rent/mortage come October time?

"skint" in August without any real overpayment - rent advance

"skint" in September without any real overpayment - holiday if me memory serves me right


Will

James240

xbox wrote:

Edited for clarity

Don't be a mug

Yes they are your good mates - but even with the progress you have made, youv'e gotta look after #1

Clearly they are having issues managing the monies - you've been there - took you a while to learn that you've gotta face the music and cut back - but you did and I can see you feel better for it

In my view you will be helping them by NOT giving them an advance

What happens if they can't pay the rent/mortage come October time?

"skint" in August without any real overpayment - rent advance

"skint" in September without any real overpayment - holiday if me memory serves me right


Will

hiya Xbox :hello:They are able to pay the mortgage that isnt an issue the issue really has arose a year ago when the mortgage compnay told them the first payment would come out on a certain date and it didnt it came out a month earlier and put them immediatley into there overdraft on there account. They have been trying to claw this back over the year and a half we have been there and have got it down to £750 from over £1400. Ive already got £230 saved up for my spending money (due to my win on William Hill, See a little bit back i think about a week or 2 ago in my diary) for my holiday and will be using £300 from my wages at the end of August so i will have in total £530 spending money.This will leave me approx £328 out of my wages for the rest of the month for when i return on the 18th September so basically i will only need £40 and the rest will go as an overpayment on my loan and credit cards so there will definatley be an overpayment on my debt They are in control of there finances and this really is so that they can pull there joint account round and back to zero

gallygirl

OK, how's this for a compromise:

Rent in advance

They come on here & get sorted.

Fair exchange, actually they're getting the better deal:j :j :j :j

James240

ali007 wrote:

OK, how's this for a compromise:

Rent in advance

They come on here & get sorted.

Fair exchange, actually they're getting the better deal:j :j :j :j

Lol i doubt they would in all honety Ali007 lolthere doing ok with there money though, there normally pretty savvy when it comes to money

ms_london

James240 wrote:

Lol i doubt they would in all honety Ali007 lolthere doing ok with there money though, there normally pretty savvy when it comes to money

It doesnt sound like it James. I know they're your friends, but if they think you are saving rather than being in debt they may be taking advantage of your good nature. Just be careful thats all, I'd hate for them to demand more money off you!! xx

James240

Imelda wrote:

Hiya James,

I'm a bit of a lurker on your thread, popping in now and again to check up on you but never have much to say, especially as you're doing well on your own!

Regarding the rent issue, as long as it doesn't mean getting into anymore debt then, yes go ahead and do it. Like you say it's something you'd be paying for anyway and the 2 months you're paying nothing you will be able to pay more off your debt. If it will be too tight, how about meeting them halfway and offering 2 months rent? You're still being reasonable. Also, remember to put aside the broadband money or you will encounter the same problem as your friends each quarter.

Hey many thanks Imelda :beer:ive worked me money out and i should have £100 left which is about what i normally give me self for me monthly budget of "me" money lol and dont be a lurker post more on here :beer:

James240

Verbatim wrote:

Sounds like you're a pretty good friend too!

So glad you're doing so well James. What a slog tho', hey?
I'm off on hols to France in a couple of weeks, thankfully. All paid for months ago bar the spending money, which I've budgeted for.

hiya Verbatim hey glad ur off on hols soon as well :jyeah its proving a hard slog but ive been able to pay off over £3000 on my loan this year with the overpayments and im really really proud of achieving this. Just so glad i had my lightbulb moment in january and decided to pull myself together and pull my head out of the sand