No way out....

Rochdale_Guy

Things have gone from bad to worse, and I mean really worse....
I can't live like this anymore.

I am already £50 overdrawn from my agreed £200 overdraft limit and don't get paid until the 15th of the month.

I have this weeks and next weeks rent to pay = £140, and there is the dreaded MBNA direct debit to come out of that amount.

A quick check reveals that will be: £96.74 due by 06/09/2010 by direct debit = approx £140 overdrawn without having paid my rent

MBNA balance is now at £4,347 = £91.74 interest charged, with a min. payment of £96.74.

At least I transferred £3,000 off the MBNA onto the RBS MINT Visa.... the last min.payment on that was £140 by direct debit taken on 31st August

I also accidentally went £3 o/d last month and got a £20 charge.

The bank counter clerk said I could increase my agreed o/d to £500 as I was a long standing customer at the end of July... that was before I went £3 over

Now they have declined me, until I keep within my limit for the next 4 months

I had to take my car for a service and MOT, it failed, it cost me £325 which had to go on my credit card - it was the only way....

I am well and truly sinking and am so depressed it's UNREAL.... I can't get a new low rate fixed life of balance to transfer some money too and now my bank wont help me.

Can anyone please help me work things out?
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Rochdale_Guy

Full card summary

MBNA = £4,347 owed > minimum payment = £96.74 by DD > interest = £91.74

RBS MINT Visa = £6,255 owed = £140 last payment by DD > £40 interest p.m.

RBS Mastercard = £2,927 owed > £55 last payment made by DD > £40 interest (that £2,927 includes the £325 car service, MOT and repairs bill from Saturday)

EGG = zero

CitiBank = £1,070 approx. but that is fixed at 5.9% APR until paid off > approx £27 min. a month by DD. The only light at the end of my tunnel they are...

MBNA nor EGG would let me transfer any money at a low rate, and declined me any favorable (helpful) offers

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Anyone around?
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It's not as if I have a spare £50 each month left to throw at the MBNA debt to clear that mountain

And I don't buy sandwiches for my lunch, I take my own food (cheese sarnies) nothing expensive, and refill my own water bottle each day. I don't drink or smoke either thats why this is so hard - there is nothing I can give up to save money

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Valli

For a £3.00 overdraft I would have (and have actually) phoned and asked them to waive the charge.

Sorry you're suffering Rochdale...

I have been 'out of the loop' recently so probably not best able to advise TBH...

But what payments are you making on your cards, what's the minimum and can we have a up-to-date SOA

MFWannabe

Hi Rochdale
You really need to post a current soa with all incomings and outgoings and the APR's on the credit cards etc. We can then see where you can make some cutbacks to enable you to pay off these debts.

Rochdale_Guy

Thanks, I really appreciate the replies.

I thought I had posted the amounts owed and interest rates above (albeit in a haphazard way).

It's hard to tpye when you are so emotional....and feeling life is okver.

Valli

Please don't talk like that...

apart from anything else you could go BR - lots do and, for them, it's a like a load has been lifted according to what I read. And life starts again.

(I haven't done that (the BR thing) but I have come through TWO failed marriages so I know what rock bottom feels like)

Rochdale_Guy

I will try and cut and paste the previous SOA then update it:

Monthly outgoings

B.T. £16.50
EGG Visa = ZERO
EON Electricity £21.00
N/ROCK car loan £106.00
Gas £22.00
CitiBank Visa £27.00
RBS MasterCard £55.00
Flat insurance £9.00
MINT Visa £140.00
TV licence £12.00
MBNA Visa £96.00
Flat rent plus water £288.00
Secure garage rent £28.00
Council Tax £75.00
Petrol £36.00
Mobile (PAYG) £10.00 - if that

Rochdale_Guy

Thanks Valli
What's BR?

Edit: Doh. Penny just dropped - sorry, not an option.

Valli

well a better option than the 'final solution'.

Valli

What's your income?