Help me... I guess it's time to just reach out and touch...

InTheRed

One other thing...
You mention missing payments on CC's - have you checked out the "Reclaim £1,000's" tab on the main site, for reclaiming bank charges over 6 years?
I think you will find quite a few of us going down this road (myself included!)

Sus1e

I think that IntheRed's suggested pay back route is probably the best way to do it (assuming the APR's work out right)
I would then CUT UP and CANCEL the cards so you can't spend on them again - having a card for emergencies is great, but you need to make it work for you i.e cashback cards and make sure you pay it off in full.

Pay your mate first - good friends are hard to find so make him a priority.

Good luck and well done for getting this far.

PanickingHARD

Thanks all...

That was pretty much exactly my plan... Disgracefully, I have no idea what my Loan APR is... ... But I'm guessing it's gonna be better than the cc's... I am going to find out as soon as I can, in fact, as soon as I hit submit, I'll call the bank... As to the penalties, fees etc... I guess that will take me a little longer... For those with experience in these matters, it was £7.5k in June 06 from LTSB... on B.N.P.L.... Which, iirc, was offered without prejudicing the apr, no matter whether i took 1 month, 2 months or 3 months to start paying back... Obviously, I took 3 months... *sigh*... Spotting a familiar pattern?

OK... As for charges, I've probably assed a lot over the years on all my cards as well as accounts, but I've never done it because I didn't want to rock the boat, as I was in there forever asking for more debt, for one reason or another... Now, I'm not looking at it because I'm with LTSB for main card and my current account... They've won three cases now, right?

So I guess I've missed the boat...

amandajack1973

Me and my partner are running up debts faster than we can pay them off!!

I am currently off sick after a serious illness (which happened just after the birth of my first child, my partner's fourth). He works in a job he loves but pays poorly. Our debts are spiralling out of control month after month our incoming's don't meet our outgoings, this comes after living off credit cards while he paid his and his ex wife's debts ( this was on the understanding that she would not go for half of the house they shared for ten years when he had owned it for 20, needless to say she waited for the rise in the housing market and hit him for the full half, entitled yes, but 3 years later poor call!) anyway just so you understand the situation, all would have been well i had full intention of returning to work following my maternity leave to pay off (i had the higher wage income) those mounting debts but life being life it doesn't work that way we have a couple of loans amounting to £18000 ish don't have the full details now, small income minimum spending on non essentials we never go anywhere.

i'm new to forums so apologies if i'm rambling on.

Most of the debt is in my partner's name as i was in debt a long time ago and had to go to debt counselling, my partner doesn't want to do this as it does affect you long term.

Help how do i start to get debt free, where do i start??

Thanks in anticipation of any help

AmandaJack1973
Hoping to be debt free, Happy & Healthy!!!!!!!!!!!!!!!!!!!:A

PanickingHARD

OK... Well... I've had rather a busy night...

Still taking small steps... I know, but I'm starting to feel less like there is no way out of this... and more like I'm already on the way out...

So...

Not that you've all been sitting fretting about how I'm doing, but I'm gonna update y'all anyway... ... Seriously though, it helps me to write this down... Even if no-one is reading...

I've worked out all my APR's (except that bloody loan... Tomorrow, they feel my wraith!! )

They are:

Mastercard - 24.9% for cash & 15.75% for retail (the VAST majority is retail)
Virgin/MBNA - 24.9% for ALL... no matter what...
Citi - 19.95% on all... but no cash on there... Retail only
Overdraft: 1.69% (plus £25 a month account fees of course, but more on that later)

The best it to come... Stick with me...

I've started to make payments...

Collected from putting bits and pieces together I had squirreled away - about 46p or so - and by selling things I don't need to friends etc...

I've put the proceeds directly into making payments over the net, and while I'm left with virtually nothing to spend now until the end of June, I've ignored the fear, and managed the following since the day after my LBM, ie the 1st June...

Loan: Was £6,700... is still £6,700... you were expecting more, weren't you - admit it

Master card: Was £8,757... is now £8,763.60... now you were DEFINATELY expecting more than that... I made a £187.93 payment, but interest and my £35 phone bill (see resolution 2) swallowed it whole...

Virgin/MBNA: Was £6,000... is now...... £5,703.06... That's more like it... "Progress!!!" I hear you scream aloud... or was it mutter under your breath...

Citi: was £1,700... is now...... Drumroll...... £990.71!!!!

AND!!! I've paid off my mate!!! £120...

That means that with nothing coming in (for those following the 'story', my 'worst point debts' above were AFTER my Dad bailed me out) I have reduced my total debt from £28,720 to £27,607.37 without actually doing anything really!!! The only thing I've done is wake up...

Now... I know... this, in the scheme of things, is virtually NOTHING... (actually, it's exactly £1,112.63, excluding my loose change tin... not that I'm counting, you understand... ), but the feeling I got from looking at that number (total debt) tonight and seeing it come DOWN, for what must be the first time in... well... I don't know how long... A LONG, LONG TIME... I cannot describe to you... But by far, the best part is KNOWING that I am not running away from this ANY MORE... I am running AT IT... Full of hell... with a bat in my hand... screaming "COME ON THEN, YOU &*%£$!"£... NO MORE!!!!!!!! I WANT BLOOD!!!!"... Metaphorically speaking, of course... Anything other than that would get me into FAR more than financial trouble...

In short, I have a plan... for the first time EVER, I have a real plan... that will work... And does it feel good!!! Not just some half-arsed little lie that I've made up to make myself feel better... But a actual, proper, grown-up plan... And it's only taken most of my adult life to do it... eat your heart out, Peter Pan!!! Actually, you didn't want to grow up, did you... neither did I, come to that... Anyway... That's not the point... Eat your heart out... erm... 'Some-guy-who-did-want-to-grow-up-but-couldn't-for-some-reason'... eat... your... heart... out!!!!

I am going to go to bed and get some sleep... for the first time in weeks, I am going to sleep for more than 2 hours tonight...

And just in case you are wondering (I certainly would be, in your shoes), I'm not drunk... I've not had a drink since last Thursday... I can't remember the last time I did that...

Tomorrow: Balance Transfers, Loan companies getting a verbal lashing about not calling me back, negotiations with existing creditors, seemingly unconnected warnings from a strange-but-wise old man and a fierce and deadly batte with a fire-breathing dragon... (Well... I have to keep this interesting, don't I?)

sophiesmum_2

Hi
Just wanted to congratulate you on making a start and finally seeing some of your debts going down instead of up. Bet you feel good about paying your mate back too:T

I will be back to read your thread and watch your progress,
well can't miss the run in with the fire breathing dragon can i:rotfl: :rotfl:

Hope you sleep well tonight, must be a weight off your mind.

sophiesmum

momisa

Loving the updates - WAY TO GO PH!!!

Burlesque_Babe

PanickingHARD wrote: »

OK... As for charges, I've probably assed a lot over the years on all my cards as well as accounts, but I've never done it because I didn't want to rock the boat, as I was in there forever asking for more debt, for one reason or another... Now, I'm not looking at it because I'm with LTSB for main card and my current account... They've won three cases now, right?

So I guess I've missed the boat...

hi there and well done so far.

Lloyds had a fluke win with a Judge who didn't understand the situation. Go for the charges. You can go back 6 years on all bank accounts, all credit cards and any store cards you have had - even if the accounts are closed. Don't worry about 'rocking the boat' - there are now hundred of thousands rocking the boat and people aren't falling off yet!!! (well you did say you wanted a joke in your first post! :rolleyes: )

Don't let the media hype (probably spun by Lloyds ) put you off. The one decision doesn't change anything and the same Judge could make a different decision at the same court on another day.

Please go for them. Either use the forum here or the Consumer Action Group at http://www.consumeractiongroup.co.uk and get the ball rolling.

The other couple of bits that sprang to mind

Your monthly account fee. I'm not sure if you mentioned who you are with, but if it is Nat West or Barclays, you should be able to change to a normal current account. The monthly fees are for stuff like cheaper travel insurance/cheaper breakdown cover. Might as well save £180 a year not paying it!!

On the cooking front. I love cooking and look back on my pre-DFW days with shame. It was fillet steak this and Tesco Finest that. Now, I get as much of a buzz from creating a lovely meal from cheaper cuts cooked slowly. Might be worth investing £10 or so in a slow cooker. They are amazing. The Old Style Board are a great lot and can offer advice on making a meal from absolutely anything - try it - give them a challenge!!!

To start off with, any savings will not really seem worth it but after a couple of months you will be wanting to save pennies on everything - absolutely everything!!!

I would also recommend pigsback. Nice way to get Boots/pizza hut vouchers as a little treat.

Good luck. I wiped my 6k of unsecured debt in about 6 months. It was helped at the end with bank charges and it did mean taking on a second job, but it was worth it.

tealady

Don't forget to ebay/Amazon anything you don't want as well. Love the thread by the way, reading through it you can see the change in you from someone who was a 1st time poster to someone who is well on the was to becoming a full blown MSE ADDICT (just like the rest of us). Welcome to the club! Also don't forget to register for your "Proud to be dealing with mr debts" number.
Message for Amandajack. Start yourself a thread with your SOA and the lovely people will be along soon to give you a helping hand as well. Don't worry we've all been there.

Karmacat

PH - you star! You're also a comedian, aren't you! Well, its great to read your last post. And incidentally, your *management* of the debt brought it down quite a lot, didn't it - around 4%?? Just imagine what you can do when you do that regularly *and* you're making overpayments too. You'll be out of debt before you know it.