Little help...please.

rog2

Well Done - I wish I'd cut up all my cards as soon as I realised I was in trouble. :T :T

Energised

Hehe thanks all!

I've just been to Tesco, got all my dinners and breakfasts sorted (healthy too since I'm also on a get fit kick, the last month of my life has been somewhat of a transformation now I think about it, what gives?!) and my lunches will cost me in the region of £15, so a weeks food for £30 which for me is frankly, amazing!

Annie_Fanny

Energised wrote:

Hi there everyone. I guess you could call this my "lightbulb moment".

I just though I'd best sit down and have a look at actually what I owe and I'm a little bit shocked to be honest!

Liverpool Vic Loan -- 8728.41 (Currently pay 171 a month)
Natwest Loan

---

1204.76 (currently pay 49.88 a month)
Natwest OD

---

213.92 (Limit now £250, was £1500 this morning)
Kays Catalogue ---- 606.06 (Min pay)
Next Directory

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330 (Min Pay)
LX Direct

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206.4 (Min Pay)
Capital One CC

---

192.7 (Min Pay)
Vanquis CC

---

250.41 (Min Pay)
Vodaphone

---

150 (One lump sum this payday)
Computer

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427.34 (One lump sum next payday)

My Salary (Ranges between 940 and 1100 after tax depending on o/t)

Car Insurance £41.00
Nat West Loan £49.88
Liv Vic Loan £170.91
Capital One £8.00
Vanquis £10.00
Kays £50.00
Next £20.00
Littlewoods £8.00
Three £40.00 (What is this?)
Mum £80.00
Gym £27.00
Total Average p/m 500


Total Debt 09/12/06 - 12310

Now, I wish I could get a 10k loan and pay all of that off so I've just got one pot (and never, ever use a credit card or a catalogue company again!) I've never had a CCJ but I've got a shocking credit rating from hundreds of missed DDs etc. I think, if this sounds best, I've got a claim in currently for bank charges nearing £1900. If this goes through I'll pay off the NW loan any both credit cards and whatever I can from kays/next/LX and everything I save, I'll add to my big loan payments. Does that sound ok? Failing the charges coming through, I'll just concentrate on paying things off one at a time, as soon as it does I'll add that to paying something else off until I'm just left with big loan.

Really, my question is this. Everything is now getting paid, at least the minimum payment goes out of my account and nothing bounces/no referred DDs or anything like that anymore. I just really want to know when my credit rating will get back to being reasonably respectale. If I go 6 months having nothing but perfect DDs on my account and not in my overdraft (which I will end alltogether the second I'm out of it) will that improve my credit rating at all?

Would it benefit me to say, close down Kays and LX Direct account and the Vanquis account but spend say... £50 on the Next and the Capital One accounts and then continue to make min payments until the balance is cleared, then spend another £50, just to keep my credit rating improving?

I feel like I've come a long way alread in sorting my debt problems in that I've already spoken to everyone and I'm no longer in any arrears with anyone, now it's just to get down to paying them off!

I'd appreciate any advice or support or suggestions or anything! It's quite a shock seing just how deep I am, now I've realised, I'd just like to get it sorted!

Cheers

Energised.

What is the 'Three' that you spend £40 on?

Have you got any stuff that you can sell to help pay off your debts?

Well done on chopping up those cards. That photo is really emotive...

Energised

Annie_Fanny wrote:

What is the 'Three' that you spend £40 on?

Have you got any stuff that you can sell to help pay off your debts?

Well done on chopping up those cards. That photo is really emotive...

Three is my mobile phone. I'm sorry, some things I'm just unwilling to do without! Hehe:p.

I've got a few guitars/amps and a drum kit, but if I'm honest I'd rather keep them. I did sell 3 guitars to get myself our of arrears. Now I'm in a position where I'm back on track and even with a bit of exess cash at the end of the month and I've had my LBM I think that's enough for the time being .

Hehe, I thought I'd take a pic to show I was serious, I'm in for the long run .

slowlyfading

well done on cutting up your cards! that's a big step into sorting out things

Annie_Fanny

Energised wrote:

Three is my mobile phone. I'm sorry, some things I'm just unwilling to do without! Hehe:p.

Who says you have to do without? How long have you had a contract with them? I just ask because I have recently haggled with my provider 02 and they knocked off £10 a month off my contract and gave me £100 credit free because I did not want a new mobile.

It's not about going without - it's about getting the most for your money...

Annie

Energised

Annie_Fanny wrote:

Who says you have to do without? How long have you had a contract with them? I just ask because I have recently haggled with my provider 02 and they knocked off £10 a month off my contract and gave me £100 credit free because I did not want a new mobile.

It's not about going without - it's about getting the most for your money...

Annie

Thanks Annie .

I kind of ended any negotiating rights I had over them when I asked for a Sony K800i only 6 months into my contract. They gave it me free but was signed up for another 12 months, the contract is only £30 but I usually go about £10 over.

I'll definately try and do a deal with them upon renewal though!

Energised

slowlyfading wrote:

well done on cutting up your cards! that's a big step into sorting out things

Here's hoping!

LookingAhead

Hi energised!

I just caught this thread and wanted to say how impressed I was with your immediate willingness to chop the cards up. If you haven't already done it I would thoroughly recommend cutting them up even smaller as going through the chip is totally satisfying - teehee!

I was VERY relieved when I read you'd tackle the Vanquis credit card first as I knew without seeing the APR that it would be horrendous.

Keep up the EXCELLENT work!