Sick and Tired of being in Debt!

AJLondon

Do you know what, thinking about it I can do this... you are right its going to be a hard slog especially come weekends.. but I am determined to put it right. I am working a later shift tomorrow (start at 1pm) so have the morning to get all my paperwork out and post a proper SOA with all my loans and correct APR details etc..

I am stuck in a rut for a good while... I think I can try and squeeze some overtime out of work... (hopefully enough to pay double the credit card minimum's for 6 months to get that down.

Thats my priority for the moment, its getting my CC down. Once that's done with I will only ever use it for emergencies.

Then I plan to try and save some money bit by bit...

hoothoot

Hey AJLondon - just read your story, keep at it and be strong!!! Just wondered, your life insurance is really high - are you sure that's right lovely?

Get on eBay and get rid of that CC!

InaPickle

:wave: AJ!

I've only just had the chance to properly catch up with your thread and it has made quite a read.

Here's some advice (the bum-kicking part):

Start looking online for a ring for your girlfriend. DO NOT BUY IT, DO NOT BE EVEN TEMPTED TO BUY IT, but just look at the type of ring you want to get her, and how much it will cost. If that is your true aim, then a quick peek at that picture every now and again, which has been saved in your favourites under another name so she is not likely to see it, will get you through all the financial dealings you need will need to do in order to get there. Add the price of that ring to your current debts, and that is how much money you need to get debt-free and where you want to be in life.

Sorting out your debts now will be the best thing that ever happened to you. By your own admission you have never been in control of your finances and therefore need to 'grow up' in a financial sense. If you love your GF you don't want to saddle her with your bad credit rating and potentially get her and and children you have into debt as well. How will you be able to help them in the future if you can't even help yourself?

Now the nice bit :

Well done for trying to sort it out. :T I'm assuming that Black Friday was your LBM, even if the lightbulb was flicking on a low-watt setting before. Firstly, stop socialising until your next pay day, and then after that, try to find as low-cost solutions as possible for when you go out (or stay in: Staying in has become the new going out. Curry night at yours? Bit of karaeoke? You can drink in for a lot less than going out if you have some friends round and they bring their own.). I would also recommend trying to up your income and then use that money to pay off your debts. Look around you: what do you have at your flat/house that you don't use and is just eating up useless space and could be sold on Ebay? I've got loads of stuff that is neither use nor ornament, really, so I've been getting rid of that. It has made me a couple of hundred quid in the past few months, all of which has gone straight off my CC to slash how much I owe. (It has also gone to freeing up some much-needed space. Yippee!)

Get that SOA up. If we can slash your bills, that means that there is more money to pay off savings. If my (currently non-existing) boyfriend said to me 'I've been looking online and we can slash out electricity bill by £20/month', I would be impressed: it looks like you are looking after the financial health of both of you (which you are!).

Look at your mobile usage. How much do you really use in terms of calls/texts/internet/extras. There must be a saving to be made there. Post up what you can and we shall see what we can do...

Well done for trying to sort yourself out, but before you get any daft ideas like online gambling, THINK THEM THROUGH FOR A LONG TIME BEFORE ACTING ON THEM. Allow me to put it into perspective for you: a girl I was at uni with just five years ago runs an online gambling company. She now lives in Antigua, on a sun-kissed beach, married to a gorgeous guy with one young son, and another child on the way. She has got it made: thanks to people making foolish mistakes like yourself.

I don't mean to sound harsh, but get your bum properly into gear as we want to help, but need to be sure of your commitment: post your SOA to help us help you!

Best of luck! :T :beer:
EDIT: I like your sig: it seems that you are getting the idea!

AJLondon

hoothoot wrote: »

Hey AJLondon - just read your story, keep at it and be strong!!! Just wondered, your life insurance is really high - are you sure that's right lovely?

Get on eBay and get rid of that CC!

What do you mean ?

hoothoot

AJLondon wrote: »

What do you mean ?

I mean your life insurance, £44, is a lot?

And have you any bits and pieces you can sell on eBay to pay off the CC with? Like old DVD's or CD's or anything?

AJLondon

hoothoot wrote: »

I mean your life insurance, £44, is a lot?

And have you any bits and pieces you can sell on eBay to pay off the CC with? Like old DVD's or CD's or anything?

I will go through everything tomorrow morning and post on my SOA. I have loads of DVD's I can sell, also have a newish phone (touchscreen) that i can sell and get some money for!

InaPickle

AJLondon wrote: »

I will go through everything tomorrow morning and post on my SOA. I have loads of DVD's I can sell, also have a newish phone (touchscreen) that i can sell and get some money for!

Brilliant! That's the spirit! :T

AJLondon

Just checked and my phone will be worth 50-60.00

mclondon

nomorecc wrote: »

hey I'm writing a reply if u are around wait...


Firstly PC Insurance?! if you need help give me a message, im a computer programmer and i know my way around computers lol they are easy and i could guide you over the phone, let alone parts going wrong thats kinda unlikely thats an extra £8.99 saved.

Overdraft: whats the interest charges etc for having it etc
Do you need halifax ultimate reward account can you drop down and continue with a big overdraft?

personally i have some finance problems as of late hence my mbna settlement thread, basically went to CAB, stopped paying for all my non-priority debts

- loans (non secured)
- credit cards (non secured)

obviously had to get cab to write to them, paid them a pound a month, cab will work out what u need to pay.

nearly been a year and now they are starting to get evils lol not my fault sorry if im having probs!

so anyway cutting to the chase you could do this and use it as an example so save up some big money and pay of people.

however it would !!!!!! you credit file u may even get a default, and they may even take litigation (charging order on your property)

however they are unlikely to do that depending on your situation.

basically put it this way.

PRIORITY - Mortgage/Bills/Food = £650
PRIORITY - Council Tax = ??????
PRIORITY - Gas/Electric

Mobile phone (tmobile contract) £40.00
Personal Insurance = £45.00

CUT - Exisiting Loan = £395
CUT - Halifax Ultimate Reward account charges £12.50
CUT - PC Insurance = £8.99

---

basically you would have if you made the above changes.

£915 CASH every month... this would include to live off...

Be harsh to yourself for a while and use that to your benifit...

Say 200 is to live off a month thats still £715 a month!!

3 months and your credit card is paid off. then apply for another card (preferably now) so that you get 0% deal.

pay off your parents...

Or... speak to your loan lender tell them your having some difficulties and if you could pay half the amount for 6 months etc 200 a month it would take you... 4 months to clear the cc off!

CAB is your friend, don't do any of this without there help. give me a pm if u wanna chat over the phone, i was in a similair situation im in nearly 40k of debt by myself!!!!

also side note... the OH should support and help you not bash you for your dignity to correct your mistakes!

gl dude

Hello nomorecc and everyone else, I'm a newbie to the site and wanted to ask/clarify a couple of things as I like most people, I'm in a similar situation.

Just wanted to know by 'CAB' did you mean citizen's advice bureau? and how soon after you did the CAB route before the banks or lenders threaten litigation? also does it mess up your credit rating instantaneously?

Using the CAB sounds very interesting to me as my debt is spiraling at the moment and we have a baby due in August.

jintyb

AJLondon wrote: »

Just checked and my phone will be worth 50-60.00

Hey AJ,

have been reading your story and I wish you well tackling your problems.
If I may offer some advice - please be brave and tell your girl about your predicament sooner rather than later. The sooner you tell her the better, as you wont be fretting about her finding out and maybe she can support your efforts? Remember, relationships should be based on trust and if she loves you enough to marry you then you owe it to her to tell the truth. I spent years shouldering all the debt while I was married because I was too frightened to admit the problem. We had wonderful holidays, all the designer trappings and expensive social life, but it counts for nowt believe me when, deep down, you know you cant afford it! I am now divorced ( not to do with the debt) and I am still paying it off. I am on a DMP with CCCS and although it will take me ages to pay it off I have never been happier as I know Im dealing with it and living within my monthly limit. I try to budget as best I can and think carefully about what I spend. The various threads on here have helped me tremendously, I eat well for a lot less for instance and save money wherever I can. The posh holidays had to go, but guess what? I dont miss 'em! They'll be back eventually!
Keep your chin up and I wish you all the very best