Would this be a bad idea??

miky36

Things are desperate now and i need some cash. i do mean NEED, just to survive with getting to work eating etc.
Im about to apply to payplan but i know this takes time. my bank account is empty, rent is due and we need to eat.
Would it be really bad of me to transfer some money from my credit card into my bank account so that we can survive?
The credit card would soon be contacted to say i can no longer meet the payments and i wondered would they be really funny about things because i transfered a large amount of money with then so recently.
I really am desperate......i know what i plan to do is wrong but...............

southernscouser

Didn't know you could transfer money off it to your bank account? Unless you mean with a cheque?

You will get hit with high interest and they can refuse to stop or lower your interest! :think:

I don't want to say yes do it because you are only going to have to pay it back but if it was to be the last time and you had no other option.......!

HairyHandofDartmoor

It can be done because I have done it. You ask for a cash advance from the credit card in the bank and they give it to you if the cc company approve it. But I don't recommend it because it is very high interest. Isn't there anyone you could borrow from? friend, family? This really is a very last resort short term option and one that got me into higher debt a few times.

cattie1

could you not just use the card in a supermarket and pay rent over the phone using card-(you may be charged an amount for paying with credit card but it should be a lot smaller than the interest they would charge for a cash advance.

lynzpower

coould you not look into getting a loan from the social fund when the DWP opens on monday

personally Id buy food, and a bus pass on the card now, and then cut it up.

Dolly_Smith

don't get a cash advance - just use the card, the interest will be cheaper. But this is an absolute last resort

miky36

Thanks for the advice.
I can't use the cards to buy anything as i threw away the pin numbers; deliberately to stop me using them.
I have done it before and like hairy hand it is the thing that has got me in to debt in the first place (in my naieve days when i didn't know what interest rates were and before MMS)
I was mostly concerned that when they recieve my iva they are going to kick up cos i took a grand from them to cover my overdraft (so i can live)
Thanks for all your replies, you guys really are a god send

Motherof1

I'm having problems similar to yours....today I bought some shopping at Tesco on my switch card and that went through fine...I wanted to buy my daughter a pair of boots and my card declined twice!....things are really getting to a head and it's so worrying I know. The only thing I can do is pray...

Do you have any close friends or relatives your could have meals with? I don't want to say borrow money from them because then you have to pay more back! That's the downside. Apparently Lidl's give away free food....if you are near one, have a stroll around or ask someone instore.

SunderlandBlackCat

miky36 wrote:

Thanks for the advice.
I can't use the cards to buy anything as i threw away the pin numbers; deliberately to stop me using them.

You can still buy groceries over the internet & buy the bus pass over the phone as that won't require a pin number.

miky36

mother of 1, ive read your post and really sympathise, ive been where you are and the advice you've been given about not leaving the home without solicitors advice is a good one. take it.
Cat, sound advice and i will use it but theres still other things that i need cash for.
My daughter is at college and because of problems gettin her EMA (due to tax credits not hurrying up) she needs cash for college- ive actualy had her off college for the last two weeks because i can't afford for her to go in.
The problem with bus passes is that its actually £3 a day cheaper to buy a ticket daily than buy a daily pass.

fatbelly

miky36 wrote:

I can't use the cards to buy anything as i threw away the pin numbers;

You can check out at the self-scanners at Tesco! Doesn't ask for pin number.

Miky, are you sure you are getting any benefits you are entitled to? Check

https://www.entitledto.com