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

Rochdale_Guy

And yippee, I'll be 62 when I pay this off.

No wife or partner, no kids, no friends, no mortgage, no house, no savings, no fun, with nothing to show for my pathetic life.

What is the point?

rdchick

Rochdale_Guy wrote: »

Have I? I still haven't opened a basic bank account as I don't know whether I can have one with a cheque book?

I actually have less money available each month to offer CCCS > to my creditors.

My ex has said she's had enough and defintely wants to finish with me.

I have about £3 cash all week and need to pay next week and the week afters rent on a credit card as I have no cash left

Sorry for being sarcastic, I'm in a worse place than last night

What I meant was that on friday you were in a worse financial position than you are now, you know what the next step is. On Friday night you went to bed with your head in the sand, your partner knew nothing and you have been worried about your financial situation for a while now.

You now know what your next step is, your (ex) partner now knows so you don't have to lie/cover up any more and she clearly doesn't seem too fussed about throwing 19 years down the drain for something so silly as money (because that's all it is, money - yes there are bigger issues such as not being truly honest but I don't think you're being truly honest with yourself just yet)

What I am trying to say is that we are here for you, yes the poop has hit the fan royally but it's not all over, we have all been here one way or another we all have our stories but you're here, you're doing something about it and that's more than you did Friday night...

Don't want to sound mean but I also don't want to be seen as being mean I'm not mean honest xxx

rising_from_the_ashes

Rochdale_Guy wrote: »

I don't get why I have such high insurance

I think you might .....

Rochdale_Guy wrote: »

The cars that park on the free concrete spaces usually get windows smashed or tyres slashed....

Please give CCCS a ring today they'll be able to help.

Loubylou2

I agree with the other posts. You have come a long way because you have faced your debts and now know exactly where you stand. I remember that was so hard to do and I think that was the moment my head really came out of the sand for the first time.
Ring CCCs today and you will see that they have dealt with this all before.
The bottom line is you have no alternative and the sooner you sort something the quicker you can move on.

BTW an IVA may be the thing they recommend and it isn't for people with debts less than £15000. We were offered an IVA but as we have a house we went with dmp. A wok colleague is in rented and she went the IVA route and it took less than 2 months to agree with her creditors. I'm not saying thats best for you the CCCS will give the best advice. Whatever route you decide on you'll get help here.
If you trawl through the forums you'll find similar stories and we're all here to tell the tale.

Good luck for today and keep us informed:)

fredandwilma

I don't wish to sound mean, either, and believe me, i know what it is like to be under extreme financial pressure and stress. Its impossible to think straight, it distorts your thinking and perception of everything.

If you don't want to be in this situation until you are 62 or older, then maybe you SHOULD consider what you call the "easy" option.


I suggest your first stop is the cab, because they really are the best at giving free impartial advice, and will advise the best for your situation. Or maybe you DO prefer to repay your debts, rather than writing them off?


Either way, your life has changed. Your lifestyle, unfortunately, may have to change, for the time being. Holidays and even cars, may be a thing of the past, for now. To be honest, you have a good public transport system, if you live in rochdale? Where do you go to the seaside? Blackpool? Dead cheap and easy to access by bus or train. Stop worrying about your holiday. You don't have to go. The worst that is going to happen is you've lost your deposit.

I KNOW it isn't easy coming to terms with a lifestyle change.

All the best :A

yesican

fredandwilma wrote: »

Bankruptcy is never the easier way out. Its the route i would imagine most people take, when there ARE , no other options.


I wish you well :A

I couldnt agree more here FredandWilma,Its very easy for an outsider to judge someone but unless they have been there,they wont know what its like.

I used to wonder how anyone and i mean anyone would feel suicidal over debts,believe me,i could kick myself now because ive been there too and to be honest,i learnt one of the hard lessons in life,NEVER JUDGE anyone because you have no idea what they're going through.

BR saved me and its not a decision that i took very lightly (believe me,i know!)..Would i do it again??definately not because ive opened my eyes about my finances.

BlushingRose

Please ring the CCCS - their number is 0800 138 1111. They are open between 8am - 8pm
It's a free number, you have nothing to lose by ringing them.

jonjamie1970

Rochdale_Guy wrote: »

rising from the ashes £260? Is that fully comp?

I'm 42, been driving since April 2007, and use a KrookLock Thatcham approved steering lock, and keep it locked in a rented council garage (with 3 locks) at night but it's still at the £1k mark

Can't believe I got it down to just under £600 before this minor accident

£260? Wow......

Seems high that RG even considering your accident. I am 43 and drive an 08 plate M sport BMW and pay £500 fully comp. Get on the confused.com site, go through Quidco first and you'll even earn £1 for a free quote.

DS4215

Like many others on here, I hit rock-bottom about 2 years ago when I realised that I did not have enough money coming in for what I was paying out. CCCS really helped me, and continue to do so although I hope to have the debts on my DMP paid off this year.

It is hard to work out a budget and stick to it at first, but it does get easier. You can get a pay rise or a second job (I did) and if you can squirrel away a little here and there you might be able to build up enough to make a F&F offer to settle a debt for a reduced amount.

The main thing you need to work out is where you spent the money. Did you spend it to keep your relationship going with your partner or was it trying to keep up with your increasing debts? Once you realise where it went you can modify your behaviour to avoid doing it again.

Rochdale_Guy

DS4215 wrote: »

The main thing you need to work out is where you spent the money. Did you spend it to keep your relationship going with your partner or was it trying to keep up with your increasing debts? Once you realise where it went you can modify your behaviour to avoid doing it again.

Can't be long as at work.

It was mainly trying to keep up with the increasing debts, this line says it all:

Total monthly repayments = £648 with £462 in interest charges, meaning only £186 actually reduces this mountain of debt each month.

£296 on the MBNA card alone is coming out my account each month which is just under 1/3 of what my monthly salary is.

And as I have no money left, I am having to do a food shop, and put the next two weeks rent on the MBNA card as there is no other way. So, the MBNA balance will have gone up another £200 next month, which means the minimum repayment will proabably be around £310, and it will up and up and up.

There is still like £2,000 credit available on the MBNA card, I'm being daft thinking I should transfer the £1,675 Citicard balance over to the MBNA, then phone up Citi and cancel the zero balance card and close it.

Then I'll obviously owe loads more to MBNA and will be facing like a £400 a month repayment, but will only then have 4 credit cards not 5.

Oh who am I kidding :mad: