Hiding your debts? Think you can cope on your own?

Standingtall

Yes, I have a current account with Natwest but without an overdraft facility. So I have cheque book, online banking and debit card. Payplan said fine as long as no overdraft facility.

Rochdale_Guy

wannabee_in_credit wrote: »

Answer this question honestly to yourself, not necessarily on here. Do you want to sort your financial situation out............

YES

And I'd better shut my mouth now I suppose as I think I may be coming across as offensive rather than helpful (I prefer to say that I'm honest).

Not at all. I appreciate any comments on here. You're in no way offensive, it's cool OK?

:j

debtfreewannabe321

I have 2 basic accounts. One with HSBC and i have a debit card & cheque book. I told them I was on a dmp and that i didn't need an overdraft but would like a debit card, they sent me the cheque book as well. I also have a basic one with the co-op and I also have a cheque book for this too?? I went in, and again told them I was on a dmp so could i have whatever account they recommended...perhaps go into the branch and speak to them?

Rochdale_Guy

FeeFeeDee wrote: »

You have more important things to do first lolz

I know, oven chips and baked beans for me tea. Gotta get my priorities in order FFD, right?! LOL
(Just kidding you know) :rotfl:

yesican

Rochdale_Guy wrote: »

PREFACE: Hiding your debts? Think you can cope on your own?
Well I did just that, and am now a broken man living on my own after having split from a 19 year relationship, and am now alone with all my debts for NOT doing the right thing and telling my partner.

Please face up to your debts and don't hide them like I did.
Nothing good will come of keeping things bottled up.....
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Hi Rochdale_Guy,

I totally agree with you there although,im sorry to hear that your relationship didnt survive this.
I went BR nearly two months ago and to be honest,my OH found out about my debt when it was too late-AFTER i went BR.

Even though i was embarrassed about it,my pride got the better of me,i thought that he'd never find out but i was very wrong and it nearly cost my relationship.

I consider myself very lucky to have someone who even though i hurt deeply,he is still willing to stay with me.
One thing for sure,im never keeping him in the dark about anything again.

I wish i'd gone to him for financial help considering that he has money and he'd have done anything for me to stop me going bankrupt or even to stop me messing with my money and my bills.

I wish this ,i wish that...this usually happens afterwards...oh well..

Superbiatch

Jenjen wrote: »

The other thing I thought I should tell you is if you haven't missed payments yet it might be worth trying for a normal current account. As long as you don't have an overdraft on it it shouldn't be an issue provided you are accepted. The worst that can happen is they say no. We opened an ordinary Santander Current Account, with Debit Card, cheque book, online banking etc and had the acceptance email within 24hrs. I don't know if they did a credit check but I would guess they did. They even tried to give me an overdraft which I immediately cancelled. The best bit about this account though is its a cashback account so once we have had it for 3 months they will give us £200!!

I'm sorry to burst your bubble but by turning down the overdraft you have broken their terms and conditions, therefore they will not pay you a switching fee - they did the same to me. I even abided by all the 'musts' such as income of £1k per month deposited, direct debits set up etc etc :mad:

Loubylou2

Hi
Just been reading through your thread. Sounds a lot like I was in the beginning. You've got a thousand thoughts and questions running around in your head. You need to take a deep breath and in time it will all fall into place.
It is a huge thing and as has been said you need to have a completely different mind set now. You can't have what you can't afford but there is some flexibility in the budget and its up to you what you do with any excess. Yes its difficult not having the credit cards, overdraft etc to fall back on but keep remembering that thats what got you (and so many of us) in that position in the first place:mad:

Its (as has been said) the best thing we did and so liberating knowing that when you buy something you can afford it. You won't regret it.
Like Jenjen I have the Santander account so do get a cheque book & debit card(no overdraft). Personally I got out of my way to avoid using it. I actually get cash out for as many things as possible so that when I look online at my account I can see whats in there. Especially as the budget is so tight and there's little room for manoever.

One thing form my personal experience was that we were only one month on the £1 payments but in hindsight we would have been better extending that and tucking some away as it does take a while to build up cash for emergencies/repairs.

Good Luck:)

Rochdale_Guy

yesican wrote: »

Hi Rochdale_Guy,

I totally agree with you there although,im sorry to hear that your relationship didnt survive this.
I went BR nearly two months ago and to be honest,my OH found out about my debt when it was too late-AFTER i went BR.

Even though i was embarrassed about it,my pride got the better of me,i thought that he'd never find out but i was very wrong and it nearly cost my relationship.

I consider myself very lucky to have someone who even though i hurt deeply,he is still willing to stay with me.
One thing for sure,im never keeping him in the dark about anything again.

I wish i'd gone to him for financial help considering that he has money and he'd have done anything for me to stop me going bankrupt or even to stop me messing with my money and my bills.

I wish this ,i wish that...this usually happens afterwards...oh well..

Thank you yesican, I wish you well and all the best for the future. Who knows what mine will bring

Rochdale_Guy

Loubylou2 wrote: »

One thing from my personal experience was that we were only one month on the £1 payments but in hindsight we would have been better extending that and tucking some away as it does take a while to build up cash for emergencies/repairs.

Good Luck:)

Cheers. That is what is worrying me. I won't have the holiday money saved up in time for June, that's only 5 months away now as it's nearly February. But even if I did have £350 saved up for it, I wouldn't have anything saved for the car service and MOT come September.

The more I think about this the more I think it's not workable

Back to the whole running out of money (not having any saved up!) scenario again
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Wellyboots6

Hi RG

I have been reading through your thread and I'm sorry that I don't really have anything useful to offer. I just thought I would say that you may feel like you are totally confused, but keep checking back on here and asking questions about every little thing if needs be.

The people on here really are wonderfully supportive and seem to put up with me asking all sorts and then making a pigs ear of things anyway!!

Good luck, and I have faith that you will come out the other side of this. So many people on here have success stories and I am determined to be one of them one day, and I'm sure you will too