Help me please - I want to DO THIS this time and save my sanity

pounds_and_pensive

Go to the front page of the message board part of the site, and scroll down to the Old-Style board - FlyLady is VERY popular there. I tried FlyLadying once before and she drove me a bit demented with her e-mail nagging (I did have a very tidy in-box though, what with all the deleting sessions she inspired )

Have you thought of using software like Microsoft Money to keep you on track? I check mine every day (MS Money '99), and wouldn't be without it for telling me where I am and what wants paying next. I don't think second-hand copies cost all that much - it might be something worth you looking into.

lynzpower

Im doing flylady right now on the flat

Im a procreastinator too I know what you mean about heel-dragging i do it myself

Why dont you say, right, Ill give me & hubby a month to see what the situation is. Try and do everything the flylady way.

We have a weekly target thread ( not sure where it is, but I think news monkey started it) and thats almost like flylady in the way of
this week I will
list 3 things on ebayt
take lunch to work 4 days
take vouchers to tescos

or whatever

have a good look through peoples diary threads. Like flylady, little efforts reap big rewards. So, say, "I will tidy out the spare bedroom to find things for a car boot". Break everything down into tiny tasks for yourself.

If you want help on it, Im more than available - except im flyladying myself at the mo, but in 40 mins after tidying out the big cupbard Ill be back

Pmed you x

desperatelyinthered

Hello,

I was in the same situation as you about 4 years ago so completely understand how you are feeling!

I made the mistake of consolidating a few times (when I, like you had the budget to cut back and sort out on my own at the time). With the help from my ex (who still owes me 8k) I spiralled into more debt and finally I had no choice at all and had to call payplan. I have been on a DMP since January, and for me it has taken a big weight off my mind.

What I would say to you is try and sort it out yourself... you CAN do it with the support of people on here.

Don't re-mortgage you are better off keeping that equity.

DMP's are good, but they will mean you will default on all your debts which will mean your credit rating is shot and it will stay on file for 6 years. Only use this as a last resort.

With regard to mortgage, if you default on anything, it affects your credit rating, so will affect the mortgage rate you can get.

Hope I have helped a bit, and remember there are always people here in similar situations that have gone through the same emotions as you!

all_hours

HateMyself wrote:

I still cant decide what to do about CCCS.

I have 3 options

a) CCCS - be COMPLETELY debt free in 3.5 years (including ALL overdrafts, credit cards, store cards. EVERYTHING gone. Downside my credit rating will be affected badly.

b) Consolidate on to mortgage. Upside, will be better off in the short term in terms of cash flow. Just one payment to mortgage lender and nothing else. Downside in 4 years time will I be kicking myself that Im still paying back debt and will be for another 21 years! The amount I pay back overall will be huge.

c) Have a final go at DIY. Cutting down where I can, snowballing etc

Im sure C is the best option but Ive completely lost faith in myself to do it.

If you go with CCCS won't you have to cut down anyway? As I said in my other post you only have a £33 deficit - it seems crazy to ruin your credit rating when you can easily find this by making a few small changes.

Add the APRs for all your debts including the overdrafts and credit limits for the cards. You might be able to move the debt around to reduce interest and the number of individual payments you make each month.

HateMyself_2

aha!! That makes sense so I wont actually be gaining anything by going with CCCS ? Dont they reduce the debt tho or freeze the interest?

Would I still be able to pay it off within 4 years snowballing?

I will work on the APRs and repost my SOA

HateMyself_2

Debts
Alliance and Leicester Personal Loan
£11,500 £239 Joint 6.9%

Alliance and Leicester Overdraft £800 Joint 0% (not currently paying this off but its not over the limit)

Barclaycard Credit Card £350 £8 My Partner 6.9% for life of balance

Barclays Overdraft £1,600 My Partner 10.9% Currently paying very little off, the odd few pounds when it goes over the limit


Egg Credit Card £5,938 £154 Me 4,000 is on 0% until December rest is 16.9%


egg money card Credit Card £2,162 £48 Me 16.9%

[STRIKE]HSBC Credit Card £416 £15 Me [/STRIKE](paid this off yesterday with MBNA card)

HSBC Overdraft £90 (not paying anything off, not sure the apr)

MBNA Credit Card £4,948 (+ £416 HSBC + £350 NEXT - new total £5714) 16.9% APR but low minimum payment of £35

[STRIKE]Next Catalogue £350 £35 Me[/STRIKE] Paid off yesterday

Smile Overdraft £500 - 0% not paying anything off at the moment

kathfisch

HateMyself wrote:

aha!! That makes sense so I wont actually be gaining anything by going with CCCS ? Dont they reduce the debt tho or freeze the interest?

Would I still be able to pay it off within 4 years snowballing?

I will work on the APRs and repost my SOA

As far as I know, you wouldn't gain much by going with cccs. They probably wouldn't be able to reduce the debt (unless perhaps you were in a position to make reduced final settlement offers), they might be able to freeze interest if the creditors agree. I wonder, though, whether your creditors might not be too willing to agree when, from your soa, they could see that you are not too far off affording the minimum payments.

Have you plugged all your figures into https://www.whatsthecost.com/snowball.aspx ?? It'll give you an idea of how long it will take to pay off your debts and show you what a difference even £10 a month can make to the end date - very motivating!!

HateMyself_2

just trying to summon courage to go on snowball ~AGAIN

the amounts have steadily gone up and the months added on everytime i do it

pathetic

kathfisch

HateMyself wrote:

just trying to summon courage to go on snowball ~AGAIN

the amounts have steadily gone up and the months added on everytime i do it

pathetic

You can do it!! :T

When you see it in black and white you have a starting point.... things will get better from there and you can bring your debt free date closer and closer

If you worry about failure too much you'll be paralysed into not doing anything... speaking from personal experience here ... try to put thoughts of failure out of your head, take a deep breath, and do it!

all_hours

HateMyself wrote:

Debts

egg money card Credit Card £2,162 £48 Me 16.9%

MBNA Credit Card £4,948 (+ £416 HSBC + £350 NEXT - new total £5714) 16.9% APR but low minimum payment of £35 - rough calculation £5714 * 16.9/1200 = £80 -- £35 isn't covering half the interest.

Egg Credit Card £5,938 £154 Me 4,000 is on 0% until December rest is 16.9% - if you overpay on this card between now and December the extra will go off the 0% balance so won't save you any interest.

Barclays Overdraft £1,600 My Partner 10.9% Currently paying very little off, the odd few pounds when it goes over the limit

Alliance and Leicester Personal Loan £11,500 £239 Joint 6.9%
Barclaycard Credit Card £350 £8 My Partner 6.9% for life of balance

HSBC Overdraft £90 (not paying anything off, not sure the apr)

Alliance and Leicester Overdraft £800 Joint 0% (not currently paying this off but its not over the limit)
Smile Overdraft £500 - 0% not paying anything off at the moment - pay off the 0% overdrafts last

Your three cards are the top priority.

Have you applied for any low life of balance cards yourself. If you can switch some of the 16.9% debt on to 5% or 7% it will make a huge difference to the amount of interest you're paying.