i feel so stupid!!!! need help please

lilvixen

i went back onto the sun slot website and tried to dig myself out of overdraft and managed to spend £360 on it and end up with nothing.

im so annoyed with myself and feel sick. i've even upped my overdraft to £2000. god im so stupid!!!! when will i ever learn!!

think the safest option is for me to get a loan to clear the overdraft then start a fresh paying off the loan.

what do you think?

feel free to shout at me

jobdone1

stay calm whats your overdraft fee i.e apr or daily charge whats your income it might be worth rather than tacking on new debt can't you reduce every month with the bank the overdraft just a though depends how quick you can pay it off really ????????

lilvixen

i get charged about £25 a month for overdraft and my income is about £700.

i want to put some savings away though so i was thinking if i take out the loan then that can just sort itself out without me worrying about it as it would be getting paid off without me noticing.

suppose to be going away in august with fella and he doesn't know any of this and i don't want him to.

also suppose to be saving for a place to live. good job im doing of that :mad:

lilvixen

im taking the leap and calling the bank:eek:

will let you know how i get on....

lilvixen

im just going to take out loan i think and pay it back as much as can can every month

jobdone1

if you do this reduce your overdraft to say £50 so you are not tempted into going back into it hope this helps

lilvixen

i've cancelled the overdraft completely so i've got nothing that isn't mine apart from the loan if that makes sense

feel alot happier now and will pay some more of the loan off hopefully by selling some stuff i don't want anymore on ebay :T

thanks for all your help everyone x

R_P_W

hi - little concerned as you appear to have gone from not knowing what to do at 3.06pm today to 4.23pm where you have signed up to a bank loan!

Couple of things I think you should do:-

1. Come clean to your partner, i know it will be very hard but i think you have to do it. If you are saving for a holiday with him and for a place to live I think he should know.
2. Check whether you have a 'cooling off' period where you can chnage your mind about this loan...what is the APR% and over what period did you take it? How much will it 'cost' you in total.
3. If you decide to keep the loan - check whether you can overpay as you suggest you want to? when i had aloan previously it was either a fixed monthly paymeny or pay the loan off in full - i wasnt able to overpay a bit each month.

I'm not trying to worry you but just looks like you might have made a decision in the wrong mind set?