worn out...

LittleL_4

Hi,
I've been sitting all morning, surrounded by paperwork (c/c bills), trying to sort this mess out and to be honest I just don't feel I have the energy to do it. The interest alone is really getting to me. I applied for a 0% c/c last week and was declined! I owe around £24,000, and pay in the region of around £240 pcm in interest!!!!

How did everyone else cope in the initial stages? Is it just a case of snowballing or what?

I've mentioned before that I can get out of this mess by doing lots of nursing agency shifts but I just feel depleted (chronic fatigue a few yrs ago) and am scared it may recur. If I had my health I would be tackling this big time, but I don't and can't. Please any help would be greatly appreciated. I've been in tears all (am)

LittleL

**purpleprincess**

LittleL wrote:

Hi,
I've been sitting all morning, surrounded by paperwork (c/c bills), trying to sort this mess out and to be honest I just don't feel I have the energy to do it. The interest alone is really getting to me. I applied for a 0% c/c last week and was declined! I owe around £24,000, and pay in the region of around £240 pcm in interest!!!!

How did everyone else cope in the initial stages? Is it just a case of snowballing or what?

I've mentioned before that I can get out of this mess by doing lots of nursing agency shifts but I just feel depleted (chronic fatigue a few yrs ago) and am scared it may recur. If I had my health I would be tackling this big time, but I don't and can't. Please any help would be greatly appreciated. I've been in tears all (am)

LittleL

Awww (((hugs))) hun, know what you mean. The initial stages are pretty pants. I kept getting turned down for 0% cards too.

For me it was just a case of snowballing. Because my credit card was the debt with the highest APR I've just been chucking everything I can at that to get it out of the way first. Very nearly there, but it is tiring.

Also know what you mean about the chronic fatigue as I have this, can only cope with extra work by sleeping lots!

Don't cry hun, there's plenty of support and help on here.

Have you posted a SOA? if you haven't, post one on here. The details on how are here and it contains the snowballing thing so you can get some idea of what you can do.

Good luck hun! xx

ms_london

LittleL wrote:

Hi,
I've been sitting all morning, surrounded by paperwork (c/c bills), trying to sort this mess out and to be honest I just don't feel I have the energy to do it. The interest alone is really getting to me. I applied for a 0% c/c last week and was declined! I owe around £24,000, and pay in the region of around £240 pcm in interest!!!!

How did everyone else cope in the initial stages? Is it just a case of snowballing or what?

I've mentioned before that I can get out of this mess by doing lots of nursing agency shifts but I just feel depleted (chronic fatigue a few yrs ago) and am scared it may recur. If I had my health I would be tackling this big time, but I don't and can't. Please any help would be greatly appreciated. I've been in tears all (am)

LittleL

Hi LittleL - welcome to MSE!!

How is your debt broken down? All credit cards? Or a few loans/store cards too? What you need to do is prepare a SOA (statement of affairs), listing all of your outgoings & your incomings.

If you could also list how much you owe & to whom, and also the interest rate, that would be a great help!!

Once you know what you can afford to repay each month you need to contact your creditors & put this amount forward. Whilst you're on the phone it might be worth asking if they can freeze any charges/interest on your account - its worth a try. I did this and Sainsbury's stopped the interest - and with it being a credit card debt, it was quite high!! You've got nothing to lose by doing this.

Otherwise, all there is left to do is to snowball - which is what I had to do as I could get NO credit (and still cant!!).

You'll feel so much better once you know where you stand & what needs to be paid out each month.

Well done for posting.xx

LittleL_4

Hi girls and thanks for replying, made me cry even more... gawd I'm pathetic!

I posted my SOA in May I think it was, roughly when I joined and I cancelled a few d/d's as suggested but it's the biggies that are really getting to me.

I really need a holiday but can't afford one (or for the next 40 yrs the way things are going) My little nephew is 3 at the weekend and my family are all going away to celebrate and I can't go coz I'm gonna have to go into work to pay the sh.tty bills. I sooo wish I had the energy to deal with this once and for all.

Ms London, if I contact my creditors and they accept will this affect my credit rating etc..? I think my big concern is that in the next couple of years I'd like to apply for a mortgage and I'm scared that by going down this route it may have an impact. Oh I just dunno...

Purpleprincess, thanks, I think you're right, just tackle the biggies by throwing everything onto them. I think I'm just being impatient and want to see results NOW!!!

I have a plan in my head but it's the doing it that counts.

Thanks LittleL
x

**purpleprincess**

LittleL wrote:

Hi girls and thanks for replying, made me cry even more... gawd I'm pathetic!

I posted my SOA in May I think it was, roughly when I joined and I cancelled a few d/d's as suggested but it's the biggies that are really getting to me.

I really need a holiday but can't afford one (or for the next 40 yrs the way things are going) My little nephew is 3 at the weekend and my family are all going away to celebrate and I can't go coz I'm gonna have to go into work to pay the sh.tty bills. I sooo wish I had the energy to deal with this once and for all.

Ms London, if I contact my creditors and they accept will this affect my credit rating etc..? I think my big concern is that in the next couple of years I'd like to apply for a mortgage and I'm scared that by going down this route it may have an impact. Oh I just dunno...

Purpleprincess, thanks, I think you're right, just tackle the biggies by throwing everything onto them. I think I'm just being impatient and want to see results NOW!!!

I have a plan in my head but it's the doing it that counts.

Thanks LittleL
x

Nah!!! You're not pathetic!!:p

Right, found your SOA!! all in one place then!;)

LittleL wrote:

Hi,
Well here it is, hope you can help me......please!!!!

Virgin c/c £5,600 (balance £5,411) ?% about 16% I think?
Barclaycard c/c £3,800 (balance £3,403) 19.9%
Monument c/c £3,500 (balance £3,300) 0% til August
Abbey c/c £2,300 (balance £2,007.71) 14.8%
Morgan Stanley c/c £2,100 (balance £2000) 14.9%
Capital One c/c £1000 (balance £700) 29.9% (oh my gawd!!!!)
Egg c/c £3000 (balance £2800) 14.9%
Harvey Nics Store Card £1500 (balance £300) 24%
Overdraft £550 (balance £550)
Clydesdale Bank Personal Loan £5000 (balance 4yrs of payments left) 12.9%
TOTAL £25,471.71

Income of about £1100 - £1200

General Outgoings
Half of Rent £297.50
Council Tax £80.00
Moblie (contract) £50-60 pcm
Petrol £80.00 (using O/H car at present, which is good)
£10.00 American Life (Health Insurance)
£18.00 RCN membership (I'm also a registerd nurse but kinda gave it up when I started my own business) I now work for a nursing agency on and off, probably more on now!!!
£5.99 to equifax (credit expert, joke!)
Food £80.00 pcm
£20 Gas and Electricity
TOTAL £651.49

I am currently paying about £550 towards my current debt on the cards etc...

Therefore there is a deficit of around £100.00 pcm.........Sh.t!!!!!
What am i gonna do????

Please please help!!!!
lesley
xx

Know what you mean about wanting to see results now!! I regularly look at my spreadsheets almost willing the figures to go down!:rotfl: But they never do!:rolleyes:

There is no harm in contacting your creditors. Not sure about the credit rating thing though.

ms_london

LittleL wrote:

Ms London, if I contact my creditors and they accept will this affect my credit rating etc..? I think my big concern is that in the next couple of years I'd like to apply for a mortgage and I'm scared that by going down this route it may have an impact. Oh I just dunno...

I dont think it will affect your credit rating. Do you know if you have any defaults on your file as it is? (have you missed any payments?). They may put a note on your file but it shouldnt affect it??!!!

I have a few defaults on my credit file, but just being a good girl until they disapear (6 years) so know what you mean about getting a mortgage & stuff!!

Have your balances gone down much since your SOA? It seems most of them are on a high interest rate, although for motivation, I suggest you try and clear the ones with the smallest balances first.. i.e. harvey nichols card.

Its worth a try calling your creditors - perhaps ask them if they would offer you a better rate to balance transfer or something like that? Play them off against each other, you've really got nothing to lose.

xx

Glitterari

Hun, I think you prob need to put your plans for applying for a mortgage on hold. You're going to take a while to clear your debt and if you try applying whilst you still have debt you'll probably run into difficulties trying to get one and if you manage to find someone to give you one, it'll prob be a cr@ppy deal too with higher interest rates, etc etc. I could be wrong about that, but that's just stuff I have picked up from this fountain of knowledge that is MSE.

Also, about freezing interest, again from reading MSE, I do think it has an affect on your credit rating not in a good way either. BUT at the end of the day you need to weigh it up - it obviously getting you down now and we want to keep you happy and healthy....

Stuff on your credit file only stays there for 6 years (from the date that the debt or whatever is satisfied, I believe) - which is a long time. It's also a time frame in which you might be able to clear your debt (I;ve not scrutinised your SOA or your plans to repay) and start saving up for a deposit. I would be tempted in your position to go about getting interest frozen (also charges refunded if you have any!) and paying off the debt. Once that's paid off then start saving like mad. Give it a couple of years and start looking at mortgages - you should be able to get better deals if you have a good deposit saved even if your credit file is not too good. In that I mean better deals than just having a poor credit rating and not much else.

And, i am now in the fortuneate position of being at the other end of being in debt - I am coming out the other side. And that feeling that you're nearly there, just one more payment, etc is unbelievable!

I hope this helps and I've not just rambled off into oblivion as usual...

C xxx

LittleL_4

Cheers,
I've just snowballed the debt and it looks really awful... I really need to get the interest rates sorted. I just snowballed my c/c debt as I can deal with the loan. If I can throw about £600 onto the c/c pcm then I will be clear within 3 years. But I'm no youngster, I'm 36, and I feel at this age I should have it all sorted.

Ms London, I haven't missed a payment in about 3 years and I know my credit score is good. (907/1000 ) But that may change very soon if I don't get my ar.e in gear and get some shifts done. I just feel so crap all the time but maybe it's alot to do with the debt hanging over me etc...

C, I'm glad to hear you're getting there and you're not rambling at all. How long have you been tackling your debt and did you have lows like me thinking you'll never get there?

Purpleprincess, thanks for finding my SOA although it gave me palpitations looking at it again on screen. Gawd I can't wait, in 3 years I can post my SOA with a zero balance! I M A G I N E!!

Thanks girls
Little L
x

ms_london

LittleL wrote:

Ms London, I haven't missed a payment in about 3 years and I know my credit score is good. (907/1000 ) But that may change very soon if I don't get my ar.e in gear and get some shifts done. I just feel so crap all the time but maybe it's alot to do with the debt hanging over me etc...

You've probably got a better credit score than me my dear :rolleyes: !! Nationwide wont even give me a debit card, just a cash card, which will make my life that little bit more difficult when I go travelling!!

If you are tired all the time then that doesnt help matters, I have an underactive thyroid & am having an off week this week, just about manage to get to work, & thats it!! Dont be too hard on yourself - at least I can sit on my bum for 8 hours a day!!

I am sure you'll feel better once your debt is under control!! I remember sitting at my Nan & Grandads house (my parents had chucked me out!!) with a pile of my debts, calling each creditor one by one!! :eek: I had about 10 at the time & one by one they got paid off. Whoo!! xx

lynzpower

ONe thing you could do to generate some income without wearing yourself out is ebaying, or selling stuff elsewhere, amazon., car boot, loot etc.

It doenst really take any physical effort, and its rather exciting to have cash coming in to wack off a card. For instance Ive got about £85 in my paypal at the mo from ebay selling & quidco payment and Im waiting for my b/card to come ( chopped this up a while ago) but need it for the 3 nos on the back, to transfer this 85 to my CC. This is effectively free money for me.

Also have you ever incurred bank charges? if so of course you can claim them back. For the amount of effort, this can be really life changing, and debt changing. Im awaiting somewhere in th region of 2.5k to come back to me and tihs is coming straight off my debt. Again, easy ( ish) to get back.

Get some freebies adn sell them quite a few people on here have done this- check out freebies board.

Just a few ideas

LittleL_4

Ms London, that is fantastic! Well done!!!! Looks like it wasn't plain sailing for you either. How long did it take you to clear your debts? And I would have thought your credit score would be great given that you are now debt free etc.. And I hope you have an amzing trip, you deserve it..

Lynzpower, ye know I have quite alot of stuff that I could e-bay. My ex was rich ( shdve stayed with him, not!) and I've a few expensive bits of jewellery (gucci watch for example) that I don't mind getting rid of. But I'm so crap with computers I don't know how to do it! How silly does that sound? I don't have the box for the watch does that matter? I also have a bike, golf clubs, hundreds of books etc... If I figure it out how long does it take to until you receive the money?

I've had a few bank charges but not too significant. I managed to get £60 back a couple of weeks ago. Lynzpower, hope you get your money soon, that'll certainly help with your debt.

Anyway, I'm going out for a walk to clear my head, wash my face and look half decent for my O/H coming home. Hope he won't suss I've been crying.

Thanks
littlel
xxx