What to do?

tomandjerry

lynzpower wrote:

thats great news!! So theyve jusrt sliced 10% off your interest rate just like that?

Tell us which bank it is, im sure others in a similar situation might well beenfit from this too

Can you let me know ( maybe by PM if you like) to tell me what the 1600 is for? I have a very open mind, and Id like to offer best advice confidentially as I can

Great, isn't? :rotfl: :rotfl:
It's LloydsTSB. I took a loan a year ago.
taj

what is your PM and how do I get there?

livinginhope

Hi there tom and jerry ,good news about the loan,but it doesn't put you in the black,I really think you need to come to terms with the fact that you have a debt problem and try to work out a plan of action to make payments,I know it's hard to face the truth and that you try all avenues to get payments down,but at the end of the day,you have debts,your outgoings exceed your incomings by quite a bit,your lightbulb is weakly flickering but not on yet,keep posting for more help and maybe someone can reduce your outgoings even more.
Sorry if this was a bit blunt,forgive me.

lynzpower

tomandjerry wrote:

Great, isn't? :rotfl: :rotfl:
It's LloydsTSB. I took a loan a year ago.
taj

what is your PM and how do I get there?

PM is private messages ( sorry Ive been here so long I forget newbies dont necc know ) If click on my name youll get a box drop down, it will say "send a private message to Lynzpower"

Its like an email. It will drop into my box Ill read & reply, and then when you get one back theres a section at the top right of the page saying "privarte messages" and if its says 1, you know you have a message

tomandjerry

livinginhope wrote:

Hi there tom and jerry ,good news about the loan,but it doesn't put you in the black,I really think you need to come to terms with the fact that you have a debt problem and try to work out a plan of action to make payments,I know it's hard to face the truth and that you try all avenues to get payments down,but at the end of the day,you have debts,your outgoings exceed your incomings by quite a bit,your lightbulb is weakly flickering but not on yet,keep posting for more help and maybe someone can reduce your outgoings even more.
Sorry if this was a bit blunt,forgive me.

Hi livinginhope,

No worries, no blunt at all.:) I know my outgoings are higher then income, I've been struggling for quite some time (few years now) and I'm so glad to find this site (wish it was earlier) to help mi organize my financies.
You are probably gonna get a shock :eek: :eek: when you read this, but please advise as it is pretty urgent. Another reason why my cr. c bill is so high is that I take money out (c.c.) so I can pay it back on the c.c. bill as I can't afford it from my current acc. I've kind of sorted my loan I need to concentrate on my credit card now. Is it better to become a tart or to go for life of balance transfer? When I sent SOA I went for higher numbers rather then lower, kind of average as each month is slightly different.

taj.:huh:

mountainofdebt

I'm sorry to be blunt here but you MUST STOP withdrawing cash from your credit card...in fact I would be tempted to go as far as to say that you'd be better off not making the payments than to do this - it may seem like a fix, abet a short term one, but you really aren't doing yourself any favours especially as the interest on cash withdrawals is so astronomically high.

In addition I don't think another credit card is a good idea either. You've already had a loan to clear a credit card but yet you have run up debts on the card already.

I know I sound very harsh and/ or unsympathetic - I'm not honestly but you can't keep doing this. You have to do something that addresses your debt problem - either increase your income (if some of it goes off it tax so what - at least the remainder will help you pay off the debt) or reduce your outgoings, rather than get yourself another shovel to dig a deeper hole for yourself.

I would also check the terms/conditions of the bank reducing your APR on your loan - are you poistive that you have understood them correctly??

I know as well you don't want to discuss the £1600 but PLEASE think twice and then once more as to whether you really need to spend this money.

tomandjerry

mountainofdebt wrote:

I'm sorry to be blunt here but you MUST STOP withdrawing cash from your credit card...in fact I would be tempted to go as far as to say that you'd be better off not making the payments than to do this - it may seem like a fix, abet a short term one, but you really aren't doing yourself any favours especially as the interest on cash withdrawals is so astronomically high.

In addition I don't think another credit card is a good idea either. You've already had a loan to clear a credit card but yet you have run up debts on the card already.

I know I sound very harsh and/ or unsympathetic - I'm not honestly but you can't keep doing this. You have to do something that addresses your debt problem - either increase your income (if some of it goes off it tax so what - at least the remainder will help you pay off the debt) or reduce your outgoings, rather than get yourself another shovel to dig a deeper hole for yourself.

I would also check the terms/conditions of the bank reducing your APR on your loan - are you poistive that you have understood them correctly??

I know as well you don't want to discuss the £1600 but PLEASE think twice and then once more as to whether you really need to spend this money.

I know my situation is horrific. What about BTs or even super BTs? Would it help my situation? I already don't go out that much. Planning on doing extra hours.
taj

lynzpower

Ive had a PM chat with T&J and I hope that the 1600 issue is put to rest, at least part of it.

As far as I see it, unless you have something valuble to sell like a car, the whole thing seems no go.

tomandjerry

lynzpower wrote:

Ive had a PM chat with T&J and I hope that the 1600 issue is put to rest, at least part of it.

As far as I see it, unless you have something valuble to sell like a car, the whole thing seems no go.

You are right. Part of it is no no. I have to find the way how to get the money for the other part.
taj

livinginhope

Please,please,please taj get some professional help now,you really do have a debt problem,using a card to pay another card is really a no go,I have done it and now my debt is 107k,unless you want to be in my shoes this time next year you need help.
All it will take is a one unfortunate event (illness,accident,disaster) and your debt will get even more out of hand.One day you will have no more cards to pay the others with,then what will you do?you will be deeper in debt.
First course of action I feel is to stop looking at your debts individualy and look at them all together as one,you may then realise the extent of your problem.
Once again apologies for the bluntness,but I can see a lot of me in your posts,and I wouldn't wish my situation on my worst enemy.

tomandjerry

livinginhope wrote:

Please,please,please taj get some professional help now,you really do have a debt problem,using a card to pay another card is really a no go,I have done it and now my debt is 107k,unless you want to be in my shoes this time next year you need help.
All it will take is a one unfortunate event (illness,accident,disaster) and your debt will get even more out of hand.One day you will have no more cards to pay the others with,then what will you do?you will be deeper in debt.
First course of action I feel is to stop looking at your debts individualy and look at them all together as one,you may then realise the extent of your problem.
Once again apologies for the bluntness,but I can see a lot of me in your posts,and I wouldn't wish my situation on my worst enemy.

Hi livininhope,

That's a pretty high debt, how are you coping?

Is there any other help out there to sort out my debt? Apart from getting another job or working extra hours + not paying my cr. c. bill for a while (I give it a go) there is nothing else I could think of, is it? One more, squeeze my outgoings even more (even there is not much left to squeeze). :sad:
taj