addidcted to credit

mcctank

OK heres the thing ive finally admitted to myself i cant deal with credit the second i get it blow the lot...

over the last few years ive gone from credit cards and loans store cards ect. Then i would eventually pay them off and do it again until it got out of control and i started missing payments, and then the credit rating got ruined so i used the obvious lenders provi, vanquis and so on until ive maxed them out.
Then i was offered a payday loan and again i couldn't control myself the chance of having easy money was just to irresistible.

now next month theres more coming out in fees then what i actually earn which i knew would happen but i just couldn't control myself.

and i just dont know the right course of action ive got a total of 6000 pounds of debt my course of thinking right now is to report my card stolen and let the payday loans goto a debt collector as my credit rating is already as poor as it can get.

i earn 1200 a month so i can keep payments going on my debts without a iva.....

I just dont know what to do any more feels like ive ruined my life any advice would be great. i have accepted i can never take out credit again becuase i will always be back at square one...

thanks for reading x

theoretica

You could get a new bank account the payday loans people know nothing about and get your wage paid in there. A DMP (debt management plan) organised by one of the free charities might be suitable - you pay back what you can afford to your creditors, usually less each month than they want, and often they freeze interest and charges and in return you promise not to take out any more credit at all until all your existing debts are paid off.

mcctank

i actually opened up a basic Halifax account yesterday my plan was to put money by every month and when the debt collectors come knocking i could set up a standing order from that one so they couldn't rinse my normal account, but if its easier just to move the whole wage payment then that is a option thankyou.

ASL

mcctank wrote: »

OK heres the thing ive finally admitted to myself i cant deal with credit the second i get it blow the lot...

over the last few years ive gone from credit cards and loans store cards ect. Then i would eventually pay them off and do it again until it got out of control and i started missing payments, and then the credit rating got ruined so i used the obvious lenders provi, vanquis and so on until ive maxed them out.
Then i was offered a payday loan and again i couldn't control myself the chance of having easy money was just to irresistible.

now next month theres more coming out in fees then what i actually earn which i knew would happen but i just couldn't control myself.

and i just dont know the right course of action ive got a total of 6000 pounds of debt my course of thinking right now is to report my card stolen and let the payday loans goto a debt collector as my credit rating is already as poor as it can get.

i earn 1200 a month so i can keep payments going on my debts without a iva.....

I just dont know what to do any more feels like ive ruined my life any advice would be great. i have accepted i can never take out credit again becuase i will always be back at square one...

thanks for reading x

It's not the end of the world. You have not ruined your life at all. I went bust in 2008 to the tune of nearly £80k.
Make an appointment to see cab, they put me on to payplan where i was paying £1 a month for months before bankrupcy and there were no fees. There is light at the end of the tunnel. Just don't do anything stupid. You'll sort this out.
Don't wait for the debt collectors. Contact citizens advice on monday and ask them to put you in contact with a debt management company like payplan, they will deal with all your creditors and get interest frozen.

mcctank

cheers for the advice i will pop down and have a chat tommorow

MissShoes

maybe complete an SOA so peeps on here can have a look to identify areas where you can save money? http://www.makesenseofcards.com/soacalc.html