I make £40k but still can't keep up with payments - SOA

KatrinaC_2

chimaeric wrote:

And to blame someone besides myself, I would blame HSBC! It was their constant increases on my CC limit that started the spiral - it went from £2k that I agreed, up to £8k over the year. I took a loan to pay that off, but then it built up again. I reduced it, only for them to increase it again, against my wishes. Of course I was weak and didn't ask for another reduction ... all too easy.

Thanks again.

At the risk of sounding like a complete b*tch, HSBC are not to blame. They did not spend the money for you, nor did they force you to spend it yourself. They only made the money available for you to spend.

Looking through the thread, you do seem to have not quite got rid of the attitude that luxuries are all things that you do not NEED. This includes Sky, mobile phones, trips to the US whether to see your girlfriends family or not... Nearly every suggestion that has been made has been met with a reply of "yes, but...".

You are obviously an intelligent man and I think that you do know these things yourself. Have a good long look at where the money went and think about whether you are ready to actually admit that you spent the money and that you are the one who has to pay it back.

Sorry if that sounded harsh.

Kat

CLAPTON

chimaeric wrote:

Thanks again for the comments - to cover them all off!



Student queries - My girlfriend is American, and has federal loans to pay her tuition and more - in fact she has just banked a $2.5k cheque, having already paid her fees. And another $2.5k on the way - so these will help a lot.

couldn't some of this money have been used pay of the debt for DD and so avoid the inevitable charge?

bandraoi

Seriously look at car sharing schemes around the city, the sort where you can essentially rent a car cheaply for an hour or two when you need it.
You I'm guessing have a travel pass so you need the car for a) work and b) big shops etc.

Most work places will rent you a car when you need it, and the car sharing will cover the big shops.

https://www.citycarclub.co.uk and https://www.streetcar.co.uk are two,
but google it and you'll get loads more.

all_hours

Don't forget to include council tax. £50 a month is quite low - you could end up paying over £100 for a similar sized property if you move to a more expensive borough.

Do you have anything you can sell on ebay or amazon?

chimaeric

xela, I looked at that site earlier ... and it showed 2023 I think! Though for the loans, 2013 which is about right.

Kat, that is a harsh post but I guess I deserve it! I know HSBC didn't spend my money, but I don't think they were being a 'responsible lender' in increasing my limits against my wishes. Actually I doubt this would happen nowadays.

And you're right about the luxuries, I guess I am not ready to scrimp and scrape, so it's my own fault if I don't get out of debt as quickly as I could. I'm 30, and believe in enjoying life. I could never leave the flat for a year and pay off some debt, but what would that do to my mental state? And that probably sounds !!!!!y back, but it's not meant to be - just stating how I feel.

Car sharing - will look into that more and could be a good option. I only use my car for big shops and weekends home as you say.

Council tax - you are very right, I live in Wandsworth which is one of the cheapest in London, if not the country. Good point and one I'll consider when looking at places.

chimaeric

CLAPTON wrote:

couldn't some of this money have been used pay of the debt for DD and so avoid the inevitable charge?

Unfortunately not, it's a US$ cheque and takes from a week to 6 weeks to clear ...

But it will come in handy when it does!

Sloppy_Saver

You're taking a lot of heat for your "luxury" Cinema subscription and SKY box, and I agree that there is nothing on TV and if you're stuck in and bored, you're more likely to go out and spend!

Why not try https://www.lovefilm.com or https://www.tescodvdrental.com. I joined lovefilm at their top rate £15 per month and receive 3 DVDs in the post. As soon as I send one back I get another in the post.

p.s. I dont work for lovefilm, just really pleased with the service and I love films! (and TV series, which you can also rent...)

chimaeric

I actually recently cancelled my LoveFilm subscription to try and save some cash! I weighed up Sky versus that and decided for £3/month extra, Sky was the better option.

But I will be looking into freeview as soon as I can afford a box - unless I can get the Sky deal with free broadband, in which case it's not a bad deal.

liney

You could Tart the DVD offers for a few months and save on your Cinema subs (if you can cancell them as and when of course).

Just be sure you send them back in good time, delete your remaining selections, and ensure they show as recieved before you cancel the sub.

If your GF isn't working perhaps she could partake in some Matched Betting to generate an income for a while.
*Just edited to add, i am extreamly lazy as far at Matchede betting goes. There is decent money to be made.

krisskross

chimaeric wrote:

I actually recently cancelled my LoveFilm subscription to try and save some cash! I weighed up Sky versus that and decided for £3/month extra, Sky was the better option.

But I will be looking into freeview as soon as I can afford a box - unless I can get the Sky deal with free broadband, in which case it's not a bad deal.

Think I read that the SKY set-up will get all the free to air channels without buying any other bits of equipment