A little help? Be as harsh as you like - i'm desperate!

lesalanos

I get a 'summer bonus' at work, £500 less tax, in July wage, what would be best use of this? (presuming I still get this although on Maternity??) Sensible head says straight to CC, not so sensible says take a risk and buy things that you could sell on e-bay? Is this do-able? Have run out of things to sell that I already own!!!! Have a good idea of what sells, i think....[/QUOTE]


If you know what to buy for ebay and what sells well then try this with say £100 of your money. The cards are interest free and so it wont cost any more in interest to try it and find out. Worst case scenario will see you selling the stuff at a bit of a loss but it may be that you can make money from this and this £500 will help to clear all of your ccdebts.

sulkisu

Have you considered contacting one of the free debt management organisations - e.g. CCCS? As you have some money left at the end of the month which can be used to repay your debts, you might benefit from entering into a debt management plan with such an organisation. They can negotiate with creditors on your behalf (often successfully freezing interest on debts), and help you to become debt free within an agreed period of time. DMPs are not the same as IVAs.

lesalanos

sulkisu wrote: »

Have you considered contacting one of the free debt management organisations - e.g. CCCS? As you have some money left at the end of the month which can be used to repay your debts, you might benefit from entering into a debt management plan with such an organisation. They can negotiate with creditors on your behalf (often successfully freezing interest on debts), and help you to become debt free within an agreed period of time. DMPs are not the same as IVAs.

I dont think that this is worthwhile at the moment as her cc are on 0% anyway.

muppetx

sulkisu wrote: »

Have you considered contacting one of the free debt management organisations - e.g. CCCS? As you have some money left at the end of the month which can be used to repay your debts, you might benefit from entering into a debt management plan with such an organisation. They can negotiate with creditors on your behalf (often successfully freezing interest on debts), and help you to become debt free within an agreed period of time. DMPs are not the same as IVAs.

Before we managed to get the 2 CC with 0% we were considering this. Going to give it a good shot at getting rid of the debt before the interest starts again.

Keep thinking 'if only' if only I hadn't get pregnant, if only I had been well and not had so much sick pay, if only I could have carried baby to term. All my fault. But then the debt wasn't my fault. However can't blame husband either, thats not fair as we do have a roof over our heads and he is now working so very hard to get us out of the mess.

Plus, we all have our health and a wondferful baby girl to be happy about, I suppose it could be worse and is for a lot of people so should be greatful and get on with it!!!

lesalanos

Dont be too harsh on yourself. You have your debts under control.. You have spare money each month and are reducing your debt. Don't blame yourself or your baby for what has happened. There is light at the end of the tunnel.

clang_uk

I would like to say you are doing very well in the current circumstances! You are doing the right thing by tackling the debt head on, but don't let it consume you. It is common to have a percentage of debt (that's what a mortgage is anyhow!!) You should do a snowball calculator - some one will give you think, it works out how much your debts are and the current rate you pay back tells you when you are debt free. This may provide some sort of freedom, being able to see an end in site - congrats with the baby, must have been a tough time.

Good luck with it.

Ames

I'd put most of the bonus on one side as your emergency fund and to cover the yearly expenses for the next year. Then you can carry on throwing all your spare income at the debts.

If you buy to sell on ebay then you have to be registered with the Inland Revenue as a business. I'd ask on the ebay board for advice about whether it's worth it.

muppetx

Thanks all for advice and understanding - this board is fab! Wish i'd found it sooner :T

gonzo127

muppetx wrote: »

Thanks all for advice and understanding - this board is fab! Wish i'd found it sooner :T

HEHE it is indeed and dont we all