Hello - starting from scratch today

ostrichnomore_2

Thank you all. I feel so much better already just owning up to this and deciding to tackle it.

The lump-sum I'm getting is a work bonus for one big project I've worked on. I'm meeting my manager tomorrow to discuss in more detail how much, it will still be a ball-park figure till they get their final profit details in, but I should know roughly how much. Just knowing I'll be able to do SOMETHING has made me feel better, but it won't cover everything.

I'll start on the envelopes and my list and thanks for the offers of help from there. In fact I can add one to my signature already...

jonjamie1970

ostrichnomore wrote: »

Thank you all. I feel so much better already just owning up to this and deciding to tackle it.

The lump-sum I'm getting is a work bonus for one big project I've worked on. I'm meeting my manager tomorrow to discuss in more detail how much, it will still be a ball-park figure till they get their final profit details in, but I should know roughly how much. Just knowing I'll be able to do SOMETHING has made me feel better, but it won't cover everything.

I'll start on the envelopes and my list and thanks for the offers of help from there. In fact I can add one to my signature already...

Brilliant, if you do get £3k and your debt is £10k then thats 30 % of your debt paid off already and its early days !!!!

Wait until your money comes in then you can allocate it to the highest interest debts first.

arthursleep

well done on having your lbm and listing your first two debts , heres to your sig getting longer and your piles of envelopes getting smaller.
Good luck

ostrichnomore_2

I was going to ask what is an lbm - but I'm guessing - light bulb moment?:beer:

Thanks for all the posts and well done all of you, looking at your sigs is giving me hope, shows where there's a will there's a way.

BILLIE

Well done Ostrich you are facing up to it and that is part of the battle over - am looking forward to hearing that you have opened some envelopes. Billie x

climbgirl

ostrichnomore wrote: »

Also - how is council tax different? I know I definitely owe a years council tax from a few years ago. Can i get in real trouble over that one?

Council tax is more serious than unsecured debt with banks (credit cards, loans, overdrafts etc) as it can result in a jail term in extreme circumstances. You need to find out how much you owe and deal with that one as quickly as possible. If you know the council you owe money to, ring them and find out how much it is.

And yes, waiting for 6 years for debts to become statue barred will certainly impact your credit rating. As soon as you default on a payment, it has an impact.

Start by sitting down and working out how much you owe and who you owe it to - nasty job, yes but you'll feel much more in control once you've done it!

jonjamie1970

climbgirl wrote: »

Council tax is more serious than unsecured debt with banks (credit cards, loans, overdrafts etc) as it can result in a jail term in extreme circumstances. You need to find out how much you owe and deal with that one as quickly as possible. If you know the council you owe money to, ring them and find out how much it is.

And yes, waiting for 6 years for debts to become statue barred will certainly impact your credit rating. As soon as you default on a payment, it has an impact.

Start by sitting down and working out how much you owe and who you owe it to - nasty job, yes but you'll feel much more in control once you've done it!

No point in trying to scare when someone is making a start to tackle their debts, I thought improsonment was a last resort and then only if you refuse to pay.

backinbusiness

Ostrich

Once you know exactly how things stand, good and bad, that puts you in control.

And from then on things really can only get better.

Must be nice to know you've got a lump sum coming in too.

Use this site to beat your creditors down - there is a whole heap of great information to be found on here.

Find out how to maximise your income and minimise your outgoings.

Good luck - and well done for getting the ball rolling.

You can do it!
BiB

ostrichnomore_2

hi,

how can I subscribe to this thread so I can keep finding it easily. I've looked everywhere and can't find out how to do it?

thanks :cool:

climbgirl

jonjamie1970 wrote: »

No point in trying to scare when someone is making a start to tackle their debts, I thought improsonment was a last resort and then only if you refuse to pay.

Not trying to scare them - just answering the question!

As I said, it can (not will) result in jail in extreme circumstances (ie. on very rare occasions). The OP asked if it was more serious than other debts and the answer is yes, it is, for that very reason.

It's great the OP is starting to tackle their debts, I applaud that wholeheartedly. It's better to go into the whole task with the knowledge that this debt takes priority over the bank loans / cards.