In Debt and miserable

metra_2

I'm in debt and despite keeping my original lender's informed my solicitor's have been able to negotiate the party I owe the money to an acceptable sum.

However, when the debt was more my lender's were happy to increase my mortgage to include the debt but now that it is less the so called underwriter has said that the will not be able to assist?

So where do I go from here?
I have looked at Martin's options, still reading though and so far nothing seem's immediately viable as unless I can pay the sum in one go then the offer will be removed from the table and the larger debt reinstated and they will push to get me to sell my flat :-(

I sold some item's and have managed to raise £1000 and hope to sell some more and raise a further funds but I cannot raise the full amount over night.

I have considered taking out a short loan from my bank The Co-operative but still need to check the APR as I don't want to throw more money on to my debt I want to get rid of the thing.

HELP.

Pippajo

I don't want to read and run. You have come to the right place.

The most important thing people will say on here is do not turn an unsecured debt into a secured debt - you are risking your home.

Many people on here have agreed reduced montly payments to clear debts if they can't meet the minimums. You can talk to one of the charities (not a paid for service).

More experienced people will be on here soon, but start by posting your Statement of Affairs - there should be quick links to this at the top of this page I think. The good people on here will be able to help you look at it impartially and without condemnation and hopefully give you some great tips to go forward in your debt free quest.

Onwards and upwards - you've done the worst bit :T

metra_2

Many thanks for the postive reply and I think I may have a way out but that is only if my application is accepted and if I am able to get cash instead of making a purchase.

After reading one of the post on Credit Card's I intend to apply for a Tesco Credit Card.
I am def sure that I can raise £2000 on my own, I am only £400 short so I am more than optimistic and I like the fact that thus far I am proving !!!! Barclay's wrong. I am def not going to them for A LOAN robber's and so unhelpful.

I have reworked my personal budget and although I know family and friends will be horified about what I am going to do I have worked out that as long as I can feed my littlen I can survive on eating every other day saving on shopping and then I will have enough money to pay off the £3000 debt in the 12mths 0% free on the Tesco Credit Card.

A mad idea but def a workable one and I would have done it without incurring additional charges if I took out a normal loan.

Wish me luck on my appplication.

Fang_3

metra wrote: »

Many thanks for the postive reply and I think I may have a way out but that is only if my application is accepted and if I am able to get cash instead of making a purchase.

After reading one of the post on Credit Card's I intend to apply for a Tesco Credit Card.
I am def sure that I can raise £2000 on my own, I am only £400 short so I am more than optimistic and I like the fact that thus far I am proving !!!! Barclay's wrong. I am def not going to them for A LOAN robber's and so unhelpful.

I have reworked my personal budget and although I know family and friends will be horified about what I am going to do I have worked out that as long as I can feed my littlen I can survive on eating every other day saving on shopping and then I will have enough money to pay off the £3000 debt in the 12mths 0% free on the Tesco Credit Card.

A mad idea but def a workable one and I would have done it without incurring additional charges if I took out a normal loan.

Wish me luck on my appplication.

Don't be so stupid. What would happen if because you haven't eaten, you feel faint, fall, bang your head, knock yourself out, bleed to death and your child is left alone with your body? Don't risk it.

Post your SOA and people will be able to help you.

metra_2

Actually it's not that stupid as I have done it B4 when I split up with my son's partner who left me debt which was connected to the flat and I paid that off as planned. Not all ideas are stupid if they are planned well and stuck to. What did people do in the day of rashing, think about it.

I get the impression that Fang is assuming that my child is a baby, then U could call me stupid but U R not correct and I would never do anything that would endanger my son which is Y I update my Will EVERY YEAR without fail. I also have regular check up's as a matter or cause because I have a child. So thank U 4 the concern but I know what I am doing and I could just as eaily get hit by a car.

Oh and additional new's I have actually raised a further £800 and I'm still struggling but I am def less miserable.
Thank U 2 everyone who has posted a reply and the concern.

Fang_3

metra wrote: »

Actually it's not that stupid as I have done it B4 when I split up with my son's partner who left me debt which was connected to the flat and I paid that off as planned. Not all ideas are stupid if they are planned well and stuck to. What did people do in the day of rashing, think about it.

I get the impression that Fang is assuming that my child is a baby, then U could call me stupid but U R not correct and I would never do anything that would endanger my son which is Y I update my Will EVERY YEAR without fail. I also have regular check up's as a matter or cause because I have a child. So thank U 4 the concern but I know what I am doing and I could just as eaily get hit by a car.

Oh and additional new's I have actually raised a further £800 and I'm still struggling but I am def less miserable.
Thank U 2 everyone who has posted a reply and the concern.

Just because you've done it before doesn't make it any less stupid. And I think you mean rationing, and then people didn't not eat. They grew their own food and ate less. If you post your SOA then people will be able to help you.

MrsTinks

Starving yourself for 182 days of the year to repay a credit card is plain madness... sorry I can't in any way feel supportive of this I'm afraid. And purely because of this rash plan I will say I hope your application is rejected. I know that sounds harsh but please realise that previous posters and I are actually genuinely concerned for your wellbeing here!
Please post your SOA and let's have a look at if there are any savings we could make for you or if paying the debt over longer would be more sensible? If you aimed to repay £1500 in a year and moving the debt to another 0% card when the 0% ends on the Tesco card you'd potentially have 2 years to repay it and you wouldn't be starving yourself. You may think it's ok but your body needs nutrients and if you don't get them you will be more likely to get ill let alone feel faint etc...

mandyl

hi
i have had a gastric bypass meaning i can eat little and alot less now. but id NEVER eat only every other day! that is indeed stupid. health much more important than anything else.

metra_2

In reply to all the post on my health thanks but it was as a last resort and I know me and what I can and cannot do.
Now on a more happier note I HAVE ACTUALLY RAISED £4000 ON MY OWN without the need of additionakl Credit Cards ect GOOD 4 ME :-D

I am smarter than I thought and the short fall well the other party has agreed to my repayment details so A VERY BIG THANK U 2 PIPPAJO your reply was def the most helpful and assisted me in my negotiations. So thank U.

I think I should rename this thread as SMILING AND EXTREMELY PLEASED.
Thank U also to Martin for the site I'm am def telling others :-)

Metra x