Delayed Light Bulb Moment - HELP!!

dancingfairy

O.k here's my 2p's worth. Firstly I don't think you should give up your home - it might be an added stress for you not knowing where you will live but I guess it does depend on how much your debt is stressing you out.
You have made massive progress so far and I don't doubt that you will get the debts right down.
I think having an evening job might be a good thing - maybe bar work? getting chatting to people etc and get paid?
You will have another debt paid off this month and you already have plans to tackle the overdraft - with a bit of extra part time work - I think you'll be well on your way - maybe you can buy a few bits and sell on ebay (you have to let the tax man know though).
Good Luck - I'm sure you can do it.
Oh and with reagards to a dmp - I'm not sure that it would help you as you are paying the minimums anyway and for a dmp you would trash your credit rating and pay less back that the minimums meaning that you take longer to pay the debt back and have a trashed credit file - keeping doing what you are doing is far better - but if you need reassurance why not give one the debt charities a call?
df

charliee_3

DVardysShadow wrote: »

Gut feeling, your rent is so cheap, stay put if you can. If you try and cut down on that, you are as you say dependent on friends sofas and that only goes so far - you might end up having to rent somewhere more expensive.

i havent read the whole thread but i second this.. staying on friends sofas may seem like a cheaper option in the short term but you may have to pay for storage of your stuff and you may end up buying takeaways/ eating out more if you dont have cooking facilities in the house.. and if your friends goodwill runs out you will be stuck with nowhere to live which may impact on your work and therefore you ability to earn...

tygar2

katsu wrote: »

Only other thought is would you be less lonely living with your friend?

Hi and thanks for the support. Yeah, my thoughts exactly. I would welcome the company. I am not hoping for a free ride. I have been offered a room rent free for 4 months then I pay from them £300 max from the on. Great offer....but..... Gift horse dental check time...again!

Am just worried about the possible complications of living with a married couple coz relationships can change when people are in each other's personal space......plus the independence issue. I have never lived with anyone. Its this 4 months free carrot thats so tempting plus the possible £200/month cut in monthly costs afterwards. That could add up to £3000 saved next year!

If it goes wrong, Im screwed...but if it goes right......result! Amazing result.....financially and socially! Its an unknown.

worst thing is my place is so cheap so I wont get cheaper...ever....Proffessional houseshares are costing around £90/week (approx £400/month). With utility bills I pay approx £500 for a 1 bed flat. So you see why the stakes are high for me?

However by staying I will be living hand to mouth (£700 disposable income) for a maximum of 2 years while unless I get overtime or get extra from gigs. The stress of debt will be continually on my mind.Thats the other unknown. The fear? Stagnation.

Procrastination is a killer.......! Think I'll just flip a coin.....:rotfl:You all have probably worked out I aint management material...or a gambling man!!

Thanks everyone:T, I got it. You all think I should stay put!

decision time......will keep you posted.....:p

tygar2

dancingfairy wrote: »

I think having an evening job might be a good thing - maybe bar work? getting chatting to people etc and get paid?....... but if you need reassurance why not give one the debt charities a call?
df

Hi, the crap thing about my main job is that it is extremely antisocial. We work round the clock, 7 day week on a alternating early to late week rota.

An example is that I started work at 4am this morning, 5am start on Saturday then 3pm start on sunday...its madness!! There are no set times and no two days are the same which makes holding down a second job or training for another job virtually impossible. Social life is a bit of a juggle too.

Now you know why train drivers get paid what they earn! They deserve it!

Regarding charities, I have called and though they are as good as gold they seem to push for DMPs no end. Like you said, my situation may not be dire enough to warrant one. Will give CCCS another call.

Thanks for your help!

RAS

tygar2 wrote: »

Regarding charities, I have called and though they are as good as gold they seem to push for DMPs no end.

Who have you spoken to?

tygar2

RAS wrote: »

Who have you spoken to?

I spoke to CCCS in Sept 2007 and then again in Sept 2009. They are very helpful but I cannot get a clear answer regarding the consequence of a DMP. In 2007 I panicked and somehow managed to carry on making payments. I suppose the comfort of a relationship reassured me as we had a plan for the future. Now Im on my own. Gotta face this head on.

It appears its either bankruptcy or DMP and nothing else. If the effect of DMP is not terribly serious I may consider it but 3 of my biggest debts were 5 year loans and are due to be repaid around May 2011 - 18 months to go. I pay around £800/month towards them.

Seems a bit of a shame to throw in the towel after 42 months hence why Im considering giving up my home to snowball the other debts and then rebuild my life from scratch later. Leaving things as they are is hard coz I'll be limping along till after May 2011 before having guaranteed free income to tackle my other debts and a DMP seems to not be a viable option for me (as I understand it) coz Im meeting my minimum payments.Giving up my flat means losing the stability of having my own home but seems the financially logical option. I have the advantage of being single with no kids, a lot of people dont. Wish I had more options or at least fully understood the true implications of the one before me......DMP.

sandycheeks

Tygar2 - keep your chin up boy - "What doesn't kill you makes you stronger" - keep moving forward and give yourself credit for doing do well - we have all been there in the loneliness/ stress and scarieness factor, but learn to believe in yourself.

Happiness is just around the corner

tygar2

Hello again everyone. Just an update. Just paid off Virgin in full to the tune of £2315......cant wait for that to go through so I can close the account.....can't wait.......Thieving !!!!!!!s.....33.9% APR!:mad:

I actually feel wierd... drained but elated.....I threw everything I had at this...missed my Christmas deadline though...... Its paid now.

If this is the feeling one gets after paying something off then I say to everyone feeling low that it is worth it!! Keep going...its worth it.

I still got a long way to go....a long way.....dont matter at this moment.....I just feel alive, human, proud. Reality is gonna set in soon but that dont matter....this moment is mine!!:beer:

Think I'd better go lie down coz Im just rambling now!:D

Hope this encourages someone. You will be ok!

Thank you all for your support...will definately be needing more of it!;)

Butti

Tyger,

I'm so pleased you decided to stay put. When things are cracking up its good to have a few stables like a roof over your head.

I get rid of Virgin hopefully in about 3 months and I CAN'T WAIT. People put comments up here about themselves and how it is their fault. Whilst I was in the 0% period with Virgin they were increasing my rate, throwing credit card cheques at me and only taking £25 per month. Basically doing EVERYTHING they could to encourage me to increase my debt. They are complete w*****s IMHO.

I'm just looking at your progress, it's amazing.

B

tygar2

Butti wrote: »

Tyger,

I'm so pleased you decided to stay put. When things are cracking up its good to have a few stables like a roof over your head.

I get rid of Virgin hopefully in about 3 months and I CAN'T WAIT. People put comments up here about themselves and how it is their fault. Whilst I was in the 0% period with Virgin they were increasing my rate, throwing credit card cheques at me and only taking £25 per month. Basically doing EVERYTHING they could to encourage me to increase my debt. They are complete w*****s IMHO.

I'm just looking at your progress, it's amazing.

B

Thanks a lot for the support. As for staying put....thats still giving me sleepless nights....am yet to decide! Might move in with a cousin's family on reduced rent which would free up £250 to snowball the next poxy card! The loss of independence is a steep price....but just getting by is making me miserable.....the debate rages on!:o

I know what you mean about Virgin. They are a very sneaky bunch. I quietly went from 0% interest to 33% in the space of 6 months!......Just as I maxxed the card!

On Friday my payment should be cleared and I will be calling to close the account, what do you want to bet I will be offerred some amazing offer with fantastic rates.....wasn't offered anything this afternoon.....could be interesting....

Guess which dark area Ill be telling them to stick their business!:eek:
As for my progress....it hasnt been easy, especially the last 4 months. Before I had the bubble of a relationship to protect me. Since September 2009 its just been me and I have never know such stress! I am losing the most important years of my life to debt. Its affecting my esteem, relationships, friendships and dignity. Will be 30 in February and have nothing to show for it and am living paycheck to paycheck hence my haste to sort this. This is not living...its slavery. For me, stagnation and making minimum payments are not an option. I want this debt gone!!
However, I have one positive belief.....if I get through this...if I can fix this.......there is nothing I cannot do. I am going through the tougest time of my life....hope its a baptism of fire which will strengthen my character, inspire me and lead me to greater things.
Keep going man....If I can do it...You can do it!:T