Please offer any advice on my problems

chesternutz

Hi

my partner went bakrupt last year through her own choice due to mounting debts froma previous relationship the ex decided not to bear any responsibility for. and was easier than chase for it.

therefore I am the only credit worthy person in this relationship.

i believe it easier to list my affecting criteria to my problems.

1.changed my name a few years ago
2.previous poor credit
3.moved around a lot due to being a student
4.on a temp ongoing contract as a teacher
5.renting a furnished private flat
6.currently 1 credit card at max
7.currently 1 loan with bank 15.9% 7k over 36mths
8.4 cheques cashed amount £400

i am struggling to pay both my credit card and my loan along with my monthly outgoings such as rent and bills. i can only just afford the min payment of the card, and strugge to pay the loan.

my partner ha just become unemployed due to illness, and the stress is now affecting me and my work. therefore an easy solution and a quick one is required asap as only 1 income now.

i have thought of the following and would appreciate any advice.

1.request all bank charges back from my bank for missed payments etc.
2.contact bank to see if my loan term can be extended to reduce the monthly amount
3.risk applying for another loan elsewhere to pay off both card and loan and have 1 payment over a longer time.
4.debt consolidation, but would this stop me from having credit again?

please advise. email or pvt msg me if further info required

before any smart remarks yes i agree i am foolish as should of learnt by my partners bankruptcy and not ot into debt, i am aware of my mistakes but that doesnt help my situation.thanks

DramaQueen29

First of all your not alone.
My partner had huge debt when we met, however due to several redundancies and moves we found ourselves in a worse situation, you do what you think at the time is right, no one will judge you on this.
You dont say how much your total debt is, I would advise against consolidating as in most cases you end up paying more and sometimes being lulled into a false sense of security paying less each month and then taking out further credit.

Depending on the bank some may allow you to pay reduced payments for a while, Ive found this only happened when i stopped paying and informed them of problems, its worth a go, it might be better to do this in writing as they cannot put pressure on you as much as when on the phone talking directly to someone who wants you to pay.
You should find lots of help and advice on this forum as i have. Good luck

lynzpower

hi there your best bet is to do A SOA, thats all your incomings & outgoings.
read southern scousers sticky "first time posters"
Once weve seen that we can help

chesternutz

well

i cant extend the loan as means doing a new one and they wont pass my credit score. omg this is ludacrous considering they already gave me credit doh. all because of 1 bank charge this month where i missed the cutoff date by 1 hr.

going to try 1 app elsewhere prob northern rock, any other offers of advice or who to try maybe good.

my total debt is around 13500. and incom around 1300 outgoings around 1250 a month.