Can someone PLEASE give me some advice

goggins1977

Ok here goes i have stupidly over the last 4 years run up some debts on credit cards £5k to be exact,this is where the problem starts i dont work as i am a stay at home mum and expecting my 3rd child,its getting to the point where i cant afford to pay the minimum payments and i just dont know what to do i am desperate,i have thought of applying for a loan but as i have no income i dont stand much chance of getting one.I can afford to pay £150 a month ,has anyone got any ideas what i can do i am making myself ill with the worry of it ....any help would be gratefully received.

saintly_2

hiya

have you posted an SOA, if not look at southern scousers post at the top of the board, someone with a bit more knowledge will be along in a bit but deffo do the soa thing.

xx

goggins1977

sorry to be thick lol story of my life whats SOA ????

ktb

Have a butchers at southernscousers instructions here.. **SOA**

livinginhope

Morning goggins,have you tried offering the £150 to the creditors? I'm sure they would accept it,this is 3% of your debt.
If you have no income,how will you afford to pay £150/month,is this figure realistic,will you be able to maintain payments at this level?
I think you need to do a SOA and then you will see what you can pay
LIH

black-saturn

Go to the Citizens advice bureau and tell them that you are having problems with your payments. You will have to take statements and paperwork with you. They will contact the lenders on your behalf and negotiate a smaller payment and maybe freeze the interest for a while.

When I was in the same boat as you I contacted my credit card directly myself and told them I was having problems.

halloweenqueen_2

Post your SOA on here and you will get lots of advice and tips, have you visited the old style board - lots of tips there to help reduce outgoings. Good luck with the baby, hope all goes well!

goggins1977

Its complicated as these things are ,i have run these debts up without my partner knowing the full extent i get £150 a month which is mine and at the moment am juggeling this between the 2 credit cards that i have ,
the other household finances dont really count as its all taken care of by my partner.
I thought if i took out a loan for the full amount and paid £150 a month the debt would be paid for in 4 years .

SSB

Hi
Is it possible to discuss these issues with your partner? Carrying a secreet like this must make you feel even worse, sounds like you could do with some support from those close to you.

It would be better to negotiate with the Credit Card companies, a loan might help you now but what about the repayments in the long run? If you are not comfortable negotiating yourself, black-saturn's advice about CAB is spot on.

Good luck and please post your SOA.

goggins1977

I wish i could tell my partner but i think it would be the end of us !!!

My SOA is very simple i think !!

Debt £1960.27 Lloyds TSB 15.9%
£2930.00 GE Money 0% until june this year

Incoming £150.00

All other household bills are paid for by my partner i have nothing to do with them at all !!!

SSB

OK, if telling your partner is not an option that's OK. You will be able to sort this out, don't worry. Are you comfortable contacting companies yourself? If not , do you have CAB near? CAB advice is free and confidential, you would not have to worry about your partner finding out.