Scarey!

gonna_do_it!

I have visited this site alot lately and been taking tips on ways to clear my debts. I owe £9341.61 - there said it! I'm not happy about it and i'm the only one to blame as i spent the cash on credit cards.
I thought i was ok but then i decided to see how much i owe - i nearly dropped.
I have completed a budget planner and also devised a repayment plan and should be cleared in 5-6 years. I'm also looking for a new job, i've seen a few which double my years wage (from about 8500 to 17.000) and still doing the job i love! If i do change jobs i can cut the time repaying the debts quite considerably.
Heres to the future - being debt free at last.

clarab_3

gonna_do_it! wrote:

I have visited this site alot lately and been taking tips on ways to clear my debts. I owe £9341.61 - there said it! I'm not happy about it and i'm the only one to blame as i spent the cash on credit cards.
I thought i was ok but then i decided to see how much i owe - i nearly dropped.
I have completed a budget planner and also devised a repayment plan and should be cleared in 5-6 years. I'm also looking for a new job, i've seen a few which double my years wage (from about 8500 to 17.000) and still doing the job i love! If i do change jobs i can cut the time repaying the debts quite considerably.
Heres to the future - being debt free at last.

go for it with the jobs - Im applying now myself and see it as nothing ventured nothing gained, what have you got to lose?

Good luck!

gonna_do_it!

Thanks have just worked out that if i get one of the jobs i'm looking at i can double my payments which means i can be debt free 2 1/2 yrs instead of 5 or 6. Its amazing that the end doesn't have to be so far away.

If anyone has any tips then please let me know.

I tried writing to my credit card companies asking if they would freeze the interest for me but they're not interested. Is it worth going to one of the free agencies to help with this as my debt would be cleard a lot sooner if the interest stopped.

clarab_3

gonna_do_it! wrote:

Thanks have just worked out that if i get one of the jobs i'm looking at i can double my payments which means i can be debt free 2 1/2 yrs instead of 5 or 6. Its amazing that the end doesn't have to be so far away.

If anyone has any tips then please let me know.

I tried writing to my credit card companies asking if they would freeze the interest for me but they're not interested. Is it worth going to one of the free agencies to help with this as my debt would be cleard a lot sooner if the interest stopped.

If you have been managing to make all your payments you will still have a clear credit record - going to an agency or making below minimum payments will put your accounts into default - something that will last for 6 years. Its a huge step.

The companies have no interest in freezing your interest if they are managing to get the money out of you regularly.

If you can make your payments without comprimising your future credit rating you probably should - you never know you might decide in a couple of years you want a mortgage, and defaults on your credit file would probably screw that.

gonna_do_it!

Thanks for that, i am meeting the minimum payments ok and can just about add a few more pounds on for some so will stick with doing it myself. Didn't realise its all so complicated.

chevalier

Can you get one of these 0% cards? If you can you can balance transfer the debt from a card with a high apr onto it, and thus save the interest payments for the life of the 0% offer.

If you do decide this is the route for you don't forget to apply via a cash back site, like quidco, or greasy palm, so that you get cash back as well
chev