please help

help1_2

Hi,

I really need some advice, i have got myself in a terrible state with money using payday loan companies. I now owe around £3,000 to them, i am having to pay over £700 per month. I cannot tell my husband i just cant and i dont know what to do. I have got an appointment for a log book loan tomorrow as i have to pay my share of the mortgage of £500 by next week and i have approximately "30 left in my account.

I dont need to be told how stupid i am i know, i have even considered leaving my husband as i just cant tell him.

I have a rubbish credit rating so no one will give me a loan, the ironic thing is i now have a great job and can afford over £200 a month for a loan easy but no one will even look at me.

If anyone knows where i can get help and quick please reply.

Thanks

Sagz_2

You have to talk to your husband - any other way will only get you deeper in debt. You need to end the cycle of borrowing as soon as you can, I'm sure he will help you.

Nargleblast

Hello help and welcome. First things first - to sort out your problem you need to know your baseline situation. Go to the stickies at the top of the threads list and look for the one marked help for first time posters, SOA calculator. Do the SOA (statement of affairs) and post it on here. Then we can start to help you make sense of your situation and point you in the right direction. Don't panic, there are ways and means of sorting out all debt situations, you just have to find the right one for you. Once you have a solution in mind you can then sit down with your OH and put him in the picture.

Primrose

Firstly, if you can afford to pay out over £200 for a loan, the good news is that you can surely afford to pay that amount of money to start clearing your debts. So you can go to your husband, ask for his understanding and help and show him that you have already got £200 a month towards helping to reduce your debt.
I think you simply have to tell him. He may be upset at first, but once you have cleared the air, I'm sure he will come round and support you.
But before you do this, sit down with pencil and paper and make a detailed list of your monthly expenditures and where you can cut back to use the money to reduce your debts. Also book yourself an appointment with the Citizen Advice Bureau who will be able to point you in the direction of some debt charities who will be able to give you some sensible advice on how to move forward. Nothing is ever as black as it seems if you can find somebody to share your worries with.

andrea1968_2

Please try and tell your husband it will make things so much easier for you. There could well be shouting sulking and tears but once he knows the situation the two of you can pull together and sort out the problem.

Don't take anymore payday loans out (sorry for stating the obvious but they are invented by the devil) and althought] things will be tough it really does make the difference once you're not trying to deal with this on your own.

Good luck

katsu

If you are desperate to borrow contact your local credit union and see if they can help (google credit union <your town name>) or look in the phone book. They want to stop people using payday companies.

Seriuously keep away from log book loans. They are parasites. If you are struggling with the payday loans this will not help you - Someone else describes it as trying to put out fires with petrol. Please, don't do it. Tell your OH or call the credit union. Just don't get more high interest loans.

All the best.

Tixy

Above poster (Sabastian) reported due to signature.

immoral_angeluk

Do NOT get a logbook loan. It's a swift way to lose your car if you're struggling with payments now. I know you don't want to, but you HAVE to tell your husband.

dancingfairy

Sabastian6 wrote: »

.you just need to consult a financial advisor and he will find out the best for you..

Eh? A financial adviser will charge you and generally advise you on saving/investment matters - have you any idea?
To help1 - you need to get in touch with one of the free places Martin recommends like your local CAB or try CCCS or National Debtline.
df