Help

toasti

HI thanks for the advice.I sent a letter off reclaiming bank charges last Tuesday and have not heard anything back as yet (I sent it to my local branch - is that right?) and gave them 40 days to reply.
I think that utilities probably are overestimated yes so I will check with the landlord later on.
I am having problems with hsbc as I am overdrawn by £300 and do not have any money for them (may have £50 to give them from selling washing machine!) and I also owe o2 that money.
It's annoying me not being able to close my hsbc account and to stop all contact with them they have been making lots of phone calls demanding payments which I cannot afford.
I've put some books up on Amazon so hopefully something will come of that.I'm looking into getting a second income but not sure what yet!
Petrol I would say comes to £42 a month,food comes to £80 a month (have discovered shopping at Kwik Save!)
I am unsure of which way to go and nobody knows about my problem I'm too scared to tell anyone
I'm really starting to panic now

chevalier

Could you move back home for a short time and pay your parents rent?

Storm

Try greenmetropolis for books as well - they have a flat rate, so definitely worth it for paperbacks.

With O2 & the HSBC overdraft - have you written to them offering a payment plan at all? If you can make token payments it will at least show that you're willing to pay back the debt.

Most importantly... have you stopped spending on the cards?

toasti

Yes I have cut the cards up did that a while back.I don't really want to move in with my parents as thay do not know anything about this whole mess.Yes I could send letters to HSBC and to O2 offering a payment plan

tesuhoha

Just a thought but could you afford to pay HSBC £30 a month into your account with the overdraft. After 10 months it would be all but paid off, barring interest of course. Paying things off in little bits often works as it mounts up and they cant do anything to you if you are paying something and making an effort.

toasti

Yes i could afford to do that think that's a good idea.I'm also owed some expenses from work for about £100 so can use that to pay it off.Will write to 02 and explain and just see what they say

toasti

PS considering a dmp with payplan.Wondered what people think of this as regards my current situation and how this would affect my getting a mortgage in the future? Thanks alot

ktb

Hi toasti...

I dont know anything about dmp's etc but I would highly recommend starting a spending diary.

I carry a notebook around with me and make a note of every single penny that I spend... from 24p for a packet of polos to £25 on a pair of shoes etc etc...

As Storm mentioned above, in theory you should have over £400 left after your SOA payments... that is obviosuly not the case or you wouldnt be on here! A spending diary is such an eye opener - it can give you real control over your expenditure and help turn things around. Good luck.

Bestthingsinlifearefree

toasti wrote: »

I have a HSBC loan for about £15000 and am paying £303 a month towards that.I also have a credit card with HSCB with about £2000 on that and have arranged to pay a fixed rate each month of £70.I also have a credit card with Egg of £5000 and have a fixed repayment with them for £125 per month.

:

Hi Toasti,

welcome to MSE.

The problem seems to be not your income but your spending.

Can you shed any light as to what the £20,000 has been spent on?

Best,

toasti

Hi thats a great idea thanks!
Have less than £400 a month as have recently moved house and had to pay for removal firms and old bills etc so that's put money down a bit.
To be honest I would rather try to sort things out myself by paying off hsbc credit card first then the egg card then the hsbc loan (smallest to highest)
What do people think?
Thanks so much