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Its so unfair why wont someone help?

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  • svmitche
    svmitche Posts: 592 Forumite
    Hi Heddwen,

    Congrats on the pick up of business. I hope you are able to capitalise on the good weather!

    I'm not going to nag you, but given the fact that they will not give you an overdraft facility, your bank will be unlikely to allow you a loan.

    Have you explored the possibility of switching banks and closing the account with your current bank? This may help you out as you are starting with a blank canvas, as it were.

    Congrats again, and I hope you're able to fill your spare room soon.

    Take care,
    Stacey
    I'm so sexy it's a wonder my underpants don't explode.
  • AMILLIONDOLLARS
    AMILLIONDOLLARS Posts: 2,299 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Hewdden

    That does not make sense to me. If you have extra money to pay off a new loan, why not use that money to pay off the debts you already have ???
    Debt Free!!!
  • nh
    nh Posts: 567 Forumite
    Heddwen,

    I think getting a new bank account for your DDs is a good idea, why not try First Direct? They give you £25 for joining them and a £500 overdraft (though you have to pay interest on that). Just put enough in there each month to cover the bills and if one month you are a bit short, you can go overdrawn without a massive charge. You can apply on the internet too. Hopefully they will approve you even tho your credit file might not be quite what it was...

    I think cancelling the DDs and paying cash is a good idea as long as you are disciplined enough to save the money so the bill can be paid when it arrives.

    I also cannot understand your logic with taking out a new loan to pay off the old one. This is hardly ever a good idea, unless the loan you are taking out charges less interest than your current debts.
    I'm married now! Yippee!
  • System
    System Posts: 178,340 Community Admin
    10,000 Posts Photogenic Name Dropper
    But will First Direct not look for references from the current Bank and as there is an overdraft of £3,500 unpaid and mortgages arrears of £2,000 surely they are unlikely to say yes? Equally so the current bank are unlikely to agree to another loan when there is so much debt unpaid.

    Also in another thread on banks Heddwen has already talked about applying to First Direct.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • System
    System Posts: 178,340 Community Admin
    10,000 Posts Photogenic Name Dropper
    Hiya, I have read all the emails and do empathise with you. One of the things that stood out however is when asked if you had considered voluntary work to help improve your skills and chance of future paid employment you said you had no time. However, you say you don't get out the house much and spend much time on the internet. I know it is a viscious circle but whilst you're not in paid employment voluntary work would not only be an option to improve your CV but also get you out of the house which in itself would be a good thing. What do you think?
    ???
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • alexei_2
    alexei_2 Posts: 39 Forumite
    Have you got rid of Sky yet?? You seem to ignore this unnecessary expense for some reason.

    It's all about priorities - how can Sky TV be more important than getting yourself back on track.
  • nh
    nh Posts: 567 Forumite
    You'd be surprised what people spend money on when they don't need to.

    My friend is seriously in debt after an expensive wedding and moving into a new house last year. I think moving out of home (her husband lived with his parents too before they got wed) and just how much that costs has been a shock and they are struggling.

    I leant her the Money Diet but every time I see her I ask 'have you read that book yet?' and she looks sheepish and says 'I haven't got round to it'. Infuriating!

    Anyway, every night on her way home from work she rings her husband on her mobile. When she told me this I said 'but you don't pay for those calls' (assuming they were inclusive minutes) but she said (again looking sheepish) 'yeah i do'. I just want to shake her! Why can't she wait till she gets home to speak to him?!

    Basically, some people can't stop spending money! They don't seem to realise that what they spend and how much debt they are in are any way related!

    This is no reflection on you Heddwen, and sorry for hijacking you post! I just thought it was interesting...
    I'm married now! Yippee!
  • Mrs_Thrift
    Mrs_Thrift Posts: 387 Forumite
    Hi Heddwen,

    Just bumping this to ask how things are getting on. Any progress?

    Hope everything is going well. :)

    Ms T
  • System
    System Posts: 178,340 Community Admin
    10,000 Posts Photogenic Name Dropper
    Are you leafleting only for your business? Could you find other people who want leaflets delivered and then for the same amount of walking get paid for it?

    (I have considered trying leafleting for my business but I've done it in the past for local election and I remember how much my hands and feet hurt after)
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • badmission
    badmission Posts: 16 Forumite
    I am close to writing to the banks big boss and giving him an ultimatum - either they give me a small overdraft or stop charging me fees altogether.

    Switch your bank to one that does provide a small overdraft, don't be loyal to them, sounds like they are far from this with you.

    Stop paying the bank charges, this only benefits them. Either chop out the sky etc to provide a buffer zone, or cancel the direct debits and use delaying techniques

    IMO I would aim to keep both the house and the business, though not the business at any cost.
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