Too scared to work out what I owe



  • Alleycat
    Alleycat Posts: 4,599 Forumite
    First Anniversary Combo Breaker First Post
    Skintchick, sorry off topic, but I just wanted to post that I LOVE your avatar - cute!!! :happylove
    "I've fallen down a hole" - said in best Monty Python voice-over.
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
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    Alleycat wrote:
    Just a quick note before I read through your post properly, but with Barclays the 1.22% is the monthly interest rate. The annual rate is about 15%.

    I telephoned Barclays this morning and the 'helpful' assistant said that 1.22% is the only figure that is available to them. So I went into a branch before work and another 'helpful' assistant said the same thing! I explained I am after the annual figure not the monthly one and she said she didn't know what that was but she'd give me a call. Still waiting....

    Anyway, I googled it and you are absolutely right, it is 15.6% AER. Not sure what I will do with this information nowe that I have it but....I have it!
    Leason learnt :beer:
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
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    Hi there
    Well done Moozie - a lot of progress already made.
    One small observation. Have a look around you at home and see if you ave things you no longer want/like/need that you can sell via ebay, amazon or a boot fair. More money coming in can be really helpful. Your OH may help you with htis even if he doesn't want to get involved with the actual 'sorting out of the money' itself.
    Best of luck and keep posting!

    This is a brilliant idea, thank you. He's so much better at IT and the internet than I am so this could work well. I have a few books, CDs and clothes that I could try to sell. Who knows, if I get him to help and I make a small amount out of it, he might take an interest to help out in other ways.

    Thanks again.
    Leason learnt :beer:
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
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    loubie_lou wrote:
    Hi Moozie. I've been reading your posts too, you are doing really well and to have listed all your debts in such a short time is a wonderful achievment!

    One thing that worries me a little is your partners complete lack of interest in your goal to be debt free (sorry if this is incorrect but i've only skimmed the posts!) Does he spend money like no ones business? Has he been supportive towards you, helping to collect facts and figures etc? Whilst we can give you support on here we can't give you a real hug when you are feeling down!

    I know men don't like to be nagged but what are his thoughts to what you are doing at the moment?

    ((((Hugs anyway!!!))))

    First of all thank you. I feel even better today having faced the facts and figures. I am still at a complete loss of how to tackle the debt but at least I know what I am faced with.

    My partner did not get involved at all with getting the paperwork sorted last night. To be honest, that was OK. It was something I really needed to do for myself. I've been too scared to look into those envelopes, I really needed to face up to that.

    My partner doesn't like talking about money. He always gets very defensive whenever I start a conversation. He keeps his finances very separate from mine. I don't know how much he earns, how many credit cards he has or if he has an outstanding OD. All I know about is our two joint accounts which we are both equally responsible for the state they are in.

    He saw me looking through the site last night but he didn't comment and I didn't start a discussion either. I feel calmer today though and I intend to go through my own and our bank statements tonight. I am hoping to find areas where there is overspent so I can talk to him about something that is tangible.

    You are spot on about nagging, it always feels like I am nagging when I try to discuss my money worries with him. Hope tonight is different.
    Leason learnt :beer:
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
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    skintchick wrote:
    Moozie - you have inspired me! I got my 0& cc statement through today and it is charging me interest!!

    As I was going to pay it off in full this month anyway, I wasn't going to bother challenging it, but after reading this thread and seeing how well you have tackled everything, I decided to make the call, and my 0% has been reinstated to May 1 as it should have been.

    So thanks! I was nearly too apathetic to make that call.

    Your post made me smile, thank you! I can't believe I would be an inspiration for anyone right now. I am really glad you picked up the phone and got the error corrected. Well done on spotting it and not letting them get one past you! :T
    Leason learnt :beer:
  • loubie_lou
    loubie_lou Posts: 1,368 Forumite
    First Anniversary Combo Breaker
    Moozie: Do you think your partner could be in serious debt too if he is very defensive as you described in your post?

    I would explain to him that you feel so much more relieved after you have visited this site, tell him them are many supportive people on here who have helped you realised that what you are doing is the right thing to do. I don't see that as nagging do you?!

    Maybe its not the right time to bring your partner into the equation but i'm sure the more you talk about this forum and about all the money you are saving he may become slightly curious!!! You never creatures really!
    In debt no more!
  • Twopints
    Twopints Posts: 1,770 Forumite
    First Post Combo Breaker First Anniversary
    moozie wrote:
    Well, I've added everything up and even had a long bath to help me calm down.

    The total figure I owe is £32,432.94 :eek: or £4,392.06 without the two loans. I can't say that's what I expected or not as I really had no idea. It just seems like a huge task and no idea how to tackle it (except the Barclays sole account OD and the Barclaycard)

    I feel really num right now. I think that's enough for me for one day. Thanks for all your helpful advice and support. Hope to carry on with sorting everything out tomorrow.
    Hi moozie - well done so far. I don't normally look in the DFW boards but your thread certainly caught my interest. I know this doesn't make things much different but I suspect the £28,000 of loans was the original amount borrowed plus interest - so you don't owe all of that any more. Do you know what the outstanding amounts are ? From the repayments and end dates it looks as if one, Sainsburys, is approx £8109 but the Tesco one is £8672 - which is more than you borrowed. Are you paying PPI (Payment Protection Insurance) ? It would be worth checking to see if you can cancel the PPI.

    Good luck.
    Not even wrong
  • I was scared at our over draft increasing month on month. I asked my other half if it was convenient to talk, (marriage guidance technique) it wasn't at that moment but we made an 'appointment' with each other. I knew that arguing would not put money back in bank so decided on a team effort. I looked at the bank statement and added up our joint over budget purchases.
    We then picked out all our direct debits and listed them. We are looking at each one and seeing what we can reduce, I lowered house insurance by £30 a month by doing a few phone calls. Next one on list is mortgage protection. Not doing them all just 1 by 1 takes off the panic.
    I have set aside a spending money figure for beauty stuff etc.
    I have signed up for Internet banking and check it daily, I feel in control now. The secret is a step at a time.
    :j Mortgage free 2014 :j
  • loubie_lou
    loubie_lou Posts: 1,368 Forumite
    First Anniversary Combo Breaker
    I have signed up for Internet banking and check it daily, I feel in control now. The secret is a step at a time.

    I think Egg Money Manager is a good way of seeing all your accounts on line at the same time.

    You need to have one product with egg tho. You could just open a savings account with £1 to get this.

    I have my loans (if the bank you have them with has internet banking then they can go on egg money manager), credit cards and normal current account.

    In debt no more!
  • Moozie, do your two loans have PPI? If so have a look at this thread. It's possible you could cancel it and save yourself a bundle of money! :D
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