I Am Exceedingly Happy Again!

caramia1812

Well, today is the first day of the rest of my life and it REALLY is! I was walking along the sea front 2 nights ago, alone in the dark and I was wondering what it would be like to just walk in slowly and inhale deeply and die.

Suddenly, I remembered the words in yet another nonsensical letter from HBOS, "....your account is not showing in arrears therefore we can not help you further at this time....."

I raced home, went online to check my credit report with Equifax and lo and behold....no mention of the credit cards despite being on an arrangememt with them for the past year.

Anyways, I logged in here and looked at loans then rang my father and put a proposition to him.

Yesterday I went to RBS (who I bank with now) and laid my cards on the table and got a loan for £7000 "just like that" so, along with the money my dad is going to loan me (to be paid back when my loan to bank is paid back) I am going to be able to call HBOS next week and pay off my two cc's entirely!

For me, this means:

NO MORE 26% AND 24% INTEREST
NO MORE CONFUSING LETTERS AND PHONE CALLS WITH HBOS
NO MORE MINIMUM MONTHLY PAYMENT WHEREBY ONLY ABOUT £20 OF THE CAPITAL IS PAID.
NO MORE WORRYING ABOUT NOT BEING ABLE TO MAKE THE MINIMUM PAYMENT
NO MORE WORRYING ABOUT NOT BEING PUT ON TO A DMP AND FACING AN IVA OR BANKRUPCTY

I now have one debt of £7000 which is fixed rate for the term of 5 years and costs me £2 a month less than what I was being "allowed" to pay monthly for the past year on two credits cards totalling almost £13k.

I was so happy and relieved yesterday, I went back to work and sobbed my heart out and last night, for the first night in months, I slept properly...

Merlinexcalibur

Wish I was happy. Glad you had some good news anyway.

Primmer

Well done you - it is good that you have been able to come to an arrangement that you can afford and takes always all those unwanted letters

SamanthaA

Very glad its made you happy.

However, have you made an effort to work out WHY you ended up with 2 CCs and 13k of debt? Hopefully a situation that won`t happen again.
If not then please do & don`t get a CC until your sure you can cope/ or not at all, else it will be a return journey!

combo81

Good news. Now cut those cards up and cancel them completely.

kittiej

Aw that's really great news. I'm really pleased for you.

poorandindenial

Ditto Samantha and Combo

Well done on getting control back, but please get rid of all available credit NOW - running cards back up after consolidation is an absolute classic (that is how I racked up my debt)

Spendaholic_Chick

Glad you found a solution - but heed what others said above.

Here's to sleeping at night!!

MidlandsMum

Yep, gotta ask yourself if you've learned your lesson. I know I have.
Here's to a full night's sleep and the ability to plan for your future.

ann_marie77

caramia1812, great news for you. :beer:

poorandindenial wrote: »

Ditto Samantha and Combo

Well done on getting control back, but please get rid of all available credit NOW - running cards back up after consolidation is an absolute classic (that is how I racked up my debt)

Although I will ditto this as well. This is how I managed to build up mine. Wish I knew then what I know know as I wouldn't be in the mess I am. Ask for a F&F settlement figure rather than just paying the total amount, unfortunately I didn't know you could do this so when I took my loan out so I still had outstanding balances and I found they soon went back up again, but this time with higher interest rates.

Good luck

caramia1812

SamanthaA wrote: »

Very glad its made you happy.

However, have you made an effort to work out WHY you ended up with 2 CCs and 13k of debt? Hopefully a situation that won`t happen again.
If not then please do & don`t get a CC until your sure you can cope/ or not at all, else it will be a return journey!

For the record: Ex husband was high earner who (unknown to me) had a major problem with debt. So, one day when he was about to top himself. I found out about his problem and I re-mortgaged MY HOUSE (yes it had been mine for 22years before I met him) to help him out.

Two years after that, he finds himself in the same situation again and also loses his job. He had always been a high earner so we thought it was only a matter of time before he got another job. One year on and it hadnt happened and we used MY cc's to help out over that year.

Needless to say the marriage went sour, very sour then one day I came home from work and he decided he no longer wanted to be married to me. He had also gotten himself a very lucrative contract abroad and assured me that if I gave him a non-contested divorce he would make it worth my while.

Do I have to continue here? You get the drift? Not all of us are in debt because we simply spent, spent, spent then decided we could not longer afford it. I was left high and dry with a mortgage, all the bills plus £13k debt and he promptly left the country.

True story..../The end