Thats another fine mess I got myself into

REDMADCURLS

Well - my name is RMC and I am a debtor!!

I took today off work for the simple reason of removing my head from the proverbial and facing up to it. And it is a massive £48995!!!!!!!!!!!!!!!!!!!!!

This is made up of £37000 credit cards - gathered in just two years would you believe - we had previously cleared with remortgage. How did we do it - my DH started a business, did we borrow from bank, did we heck - instead he used CC and sin of sin he took out cash too - kept on saying when we get on top of this - we will pay off CC and of course we didn't.

We have three o/ds -one each and a joint one and an unsecured loan with £4555 left (2 years to pay)

Our business is ok on paper but it is hard to get money out of the shops we supply - moved most of them to cash on delivery accounts - total monthly income is about £5500 from business and approx £6000 o/s from shops - and God did I contact each of them today. The business owes about £13k to suppliers.

So each month we rob Peter, pay Paul late or not at all.

I have been thru' SOA and apart from insurance (I requested quotes today) can't see much room to cut.

Cash flow is the main issue.

Completed CCCS online form today - they suggested I sent 'hardship letter' to cc and see how I get on. Have to get the money to make them offer. I am unsure if hubby can do this as it may effect his ability to get credit for business (def business credit, not personal)

No chance of 0% cards as too many late payments etc

I feel PHYSICALLY SICK and just want to run away

Fliparoo

Don't run away, someone will be here to help soon.
I am clueless about these things but I thought I'd start replies by giving you a virtual cuddle.
Good Luck!!

Fliparoo

REDMADCURLS

I forgot to mention I also sent off letters in relation to PPI reclaims today - hubby took them on all debt over the years - 7 credit cards in total. Now must share that he did claim on one when he had an accident 7 years ago but then they started up payments again when he returned to work - ignoring to point out a) now pre-existing medical condition and b) he became self employed , therefore insurance worthless!!

So hopefully that will help some.

Can I also just share that I want to kill him at this moment. I spent half an hour explaining just how bad things were and suggested the following:
cancel dog insurance - dog is 16 and in fairness what could happen that we would put her thru surgery etc - she has had a good innings and all that. Response - no way, what if she breaks her leg - result continue paying £16.50 per month
have you anything we could sell - house coming down with computer carp! - Response- No its not worth anything really
dont use credit cards - response - only use it when I have to- ggggggggrrrrrrrrr

REDMADCURLS

I am using the concept of writing as therapy - must go to bed soon and still have riverdance going on in my stomach!

Did any of you ever think - ebay/thinking about every bloody penny etc will make no long term difference - I know listen to me - negative Annie (apologies to anyone called Annie who feels positive)

It all just seems so huge and as of now I have £2 in my purse, a ddm coming out tomorrow for £190 and nothing in the bank and two credit card payments due tomorrow also and worst of all, 2 fags left (yes I know I should stop and every day I think about but right now I may committ murder without the nicotine - totally addicted)

Sorry for whinging and whinging but if I talk to dear hubby again about it I may be forced to act like someone who has given up smoking and not coping (as above)

REDMADCURLS

I am waiting up until midnight to see if my expenses from work (£200) go into my account - finally got round to giving them bank details last week. Prior to that I was getting a cheque - taking 5 days to clear

Am I right in thinking that they will go in at midnight if BACS date 16/02?

fayei

Not sure on the bacs payment, but just wanted to say keep on at the ppi claims, they could make a good dent in your debt, also if you have cc charges try and reclaim them also.
contact your cc's, overdrafts etc and explain things are slow after xmas or whatever and see if they will put an arrangement in place for 3/4 months? by then you should have made some headway in your plan to get rid of the debt!

good luck.....and stop smoking that'll save you some penny's!!!!!

REDMADCURLS

Would CC/O/D really give you a break for 3/4 months - e.g like freeze interest - I didnt know they would consider this

Unfortunatly already claimed cc charges last year - with great success but again ploughed into business or whatever 'Peter Paul was robbing"

Stop smoking - yes I know, esp when I worked out how much they cost and the fact that until I do I will never have a NSD

REDMADCURLS

No expenses in account - so there is damn all I can do about not having enough in account to cover ddm - another £25 fee and two £12 for cc's = £49 that I can well do without paying!

REDMADCURLS

WOW - just a little bit of focus does wonders
1. I am getting a pay rise in April _£800
2. I checked whats my tax and as of end of Feb due £200 refund
3. A NSD
Still defaulted on CC today and as expected the bank charged me £25 for no funds to pay DDM
But still - generally a better day

moo2moo

Your unwanted tat may well be "worthless" to you but as its free listings weekend on Ebay all day Saturday and Sunday its not going to cost you anything to find out if its worthless to others. If you're not using things and you sell them on then you're better off even if its only 99p an item. Its soul destroying, tediously dull and takes an eternity but every little really does help.

BEAT_THE_DEBT

Hi RMC thanks for your lovely comments on my diary.:D. With regards my cc payments i make the minimum on all and some only go down by a pound some £50. I realsise i am only treading water so to speak but my loans are coming down nicley and in two years i have one ending for £320 pm so my plan is to throw that at one cc at a time.
I buy christmas presents all year around and use amazon deals of the week for loads! I buy presents for b days when i see deals.;)
I still have a card and so does OH when od comes close to max i use cc to ensure we dont inccur bank charges.:eek:.
Well done for facing things you will soon be obsessed! i WILL FOLLOW YOUR JOURNEY (SOUNDS LIKE SOMETHING AN X FACTOR CONTESTANT WOULD SAY)!!:rotfl:
BTD