I cant see a way out - NO ONE will accept me, dont knw what to do

lynzpower

Also to say, if you are in shared ownership DO NOT get any more debt on the mortgage, as you will not be able to gain on the property when selling it as you do on the open market, giving you a road to negative equity.

roversbabe

margaretclare wrote:

Oh yes, they infuriate me too.

I really wish we could get back to the idea of savings as a Good Thing, which used to be the case.

There seems to be this culture around that the only way to deal with your debts is to take on another loan, as in the OP's first post.

Those ads contain so many weasel words - easy payments, treat yourself, you deserve etc etc. They're very cleverly-written, and the ones on TV with the smiling happy families are the worst. They are just so deceptive. I hate them.

Aunty Margaret

I agree totally - DH laughs at me cos I swear at the telly whenever one of those ads is on.

roversbabe

OP - post an SOA and the helpful folks here will be able to shave pounds off your budget. Don't consolidate - it doesn't help as 99% of people (me included) will run the debts up again.

Check out whatsthecost.com (I think someone has posted a link) for snowballing your debts - pay off the highest APR first.

You've got a good income and I'm sure we can all help you in getting the cards clear.

Good luck

rb

**purpleprincess**

This is just my opinion, but one that I think will be mirrored by many....

Don't get a loan!!

With your income and relatively small debt you will be able to snowball your debt in no time!!! Have a look around and see what some of the other debts are!!

My salary is only just £15k and my debt is over £7k but I'm going to snowball my debts and the snowball calculator says I can be debt free next December :j which isn't far away at all!! So imagine what your debt free date could be!!

Have a look at the old style boards, they are fab! Helping me save money all the time!! Try a grocery challenge, I was amazed at how much I was actually spending on food when I thought it was only £80 :rotfl: I am only 21 and you are very lucky that you part own a property at your age, I'm nowhere near that!!!

Good luck and let us know how you get on!!

Oh yeah, the golden rule......post us a SOA!!!

xxx

Willsnarf1983

might as well add my tuppance

don't consolidate and stop leaking money, i suspect you like to go out to muc or something along those lines and you don't want to infringe on ur lifestyle.

well tough if you wanna get the debts down

post a SOA so we can see wehre u spending and were you can cut down easily!!!

i suspect the food shopping will be astronomic

Will

chaos5678

Hi
I've just started the process of recovering all my bank charges going back 6 years.
If you visit Bank Action Group, on their website is all the help you need to get those charges back.
They have a library of all the letters and forms you need, you just print out and sign with your own account numbers added.

Its worth doing and not much effort involved.
Some of the banks and card cpmpanies are giving in straight away.
Hope this helps

fatbelly

syfodyas wrote:

In terms of utilities, yes London energy were ripping us off. Npower seem to offer a better deal and I have requested a switch to them, but that still leaves the £930 london energy bill to pay. What I will suggest is a £50 repayment everymonth.

Before you leave London Energy, ask for help from their charitable trust. The Trust can help you with:

- arrears of domestic gas/electricity charges
- other essential domestic bills and costs. You can apply for such help even if you do not apply for help with your gas/electricity charges

http://www.edfenergytrust.org.uk/pages/grants.html

BertieMeldrew

syfodyas wrote:

...

In terms of mobiles, my partner and I rely on them for business and personal use - it cost us £50 in total for both phones and average call charges per month. We hardly use landline and it would probably cost us MORE to use a Pay as you go phone as the price plans on those are ridiclious.

...

I struggle to understand this dependancy on mobiles... if there is a business necessity here then get your employers to pay. Regards personal calls then switch to landlines... you can get FREE calls there (evenings and weekends) and 3p/call during the day. Just do this whilst you sort out your problems.,, you can always go back to them when you are sorted.

Also, not sure if I caught this correctly... did you say you "own" 35% of a 175k property... i.e around 60k worth... but you are paying £800/mnth total? That sounds like a helluva lot to me ... is there no room for some flex there?

I think a combined income of £40k should see you through this pdq... good luck with it... (if it makes you feel better go read some of the posts with £60k+ debts... you'll also find some excellent suggestions there)

lynzpower

I suspect the figures are right for the mortgage /rent. I pay 750 for 40% of a 200k flat and that Interest Only... .