Credit card debt!help!!

silkglade

First and most important, YOU ARE NOT A FOOL.

It does get to that stage during the month that you just think you cant get through.

Give me your honest opinion, do you think you can get through the next few months until the £120 a month loan is gone?

Also have you contacted Virgin media about the package and getting the cheaper mobile rates as I mentioned before?

Chin up, and don't forget YOUR NOT ALONE

angelavdavis

Hi Obanite,

Well done for getting Halifax apr down.

I think you have received good advice so far. Look on Old Style for ideas on cutting back on food bills (see if you have a Lidl or Aldi nearby where a lot of stuff is cheaper than Tesco, ditch sky and just use freeview and cut back on mobiles (if you switch mobile, sign up to a quidco account to get cashback www.quidco.com). If you find yourself needing a new washing machine, fridge/freezer, etc sign up to your local Freecycle (www.freecycle.org.uk) - many people regularly give away such items that are in working order as they are upgrading their kitchen, etc.

Having looked at the SOA I would say that you had cut things back as much as possible.

I suggest you check on www.entitledto.co.uk to check your family is receiving everything its entitled to.

It might also be worth you speaking to either a member of CCCS, Payplan or Citizens advice to see if they can help you with some advice.

Also, do you have anything you can eBay to raise additional funds to throw at the credit cards?

GettingThingsDone

Hi Obanite and welcome to dfw - believe me, once you pass through this stage you will never look back. Think of it as a transition between the old you and the new you. Transitions sometimes hurt.

Many of us have had to go through this stage to 'reprogram' the way we deal with our financial problems. When you look back on this, you'll see why consolidation loans and remortgaging are usually the wrong answer to the problem you (we!) have now. In summary - when you're in a hole, stop digging.

Remortgaging, for example, makes your unsecured debts, secured - if you can't make your payments in the future, they take your house. I was saved by kiwigirl (i think) from going down that road - I couldn't see what she was banging on about at first, and then the penny dropped. A lot of what we 'learn' about finances is plain wrong.

You will get through this - there are some excellent people on here giving you excellent advice. I lurked for a while, looked at the state of my finances, and had my light-bulb-moment (LBM); luckily before I ended up further and further in debt. As they say, sometimes you just need to get through a few months with the belt extra tight and then you'll feel the benefit.

I recommend getting organised in the best way that suits you, whether it be spreadsheet or notebook as above. I also found using a calendar helped - some of the online ones will text you when it's time to make a payment. Trust your system and get that feeling of control.

Sorry to ramble, but stick at it - you're making progress!

gtd

bandraoi

What is the interest rate on your current mortgage and how long has it left to run?

£60,000 at 440 a month sounds like it might be a high interest rate, though it depends so much on how long the mortgage has left to run.
If you can remortgage to a lower interest rate do, but ONLY for the £60,000 and for the same term.

[Deleted User]

once again thanks to everyone for taking the time to read my post.ive been having a bit of trouble trying to log in"computer daftie".every one has been so kind and helpful with their comments ,iam really glad i found these pages they have been a godsend.things are on the up since ive called time on my spending and iam definatley noticing a difference.on the plus side just realised i have some money in my works credit union enough to pay off the nr loan,told you iam a daftie.so thats one less payment.iam just managing to pay the rest but have decided to work some overtime to get rid of some more .i will have to worry about tax credits next year,
just got the bug and want to be rid of this debt round my neck.applied for a sainsbury bal transfer card before my cred rating goes down the swannie, and no i will never spend on that card.
once again thank you all.

[Deleted User]

quick update, managed to get another low rate card 4.9 for life of bal card.transferred three grand from hal evil one card.so less interest for me .havent spent a penny on cards since i joined this forum and i aint gonna start now after the mess i got into.
i dont mind paying my debt but i hate being ripped off by the interest feel this is the best way for me just now.
just got to keep plugging away at it me thinks.:money: