Oh My God, Amex Just Killed Me

saffronflowers

MMM interesting being horrified regarding a sensible idea about local building site, when you obviously are defrauding the system regarding your council tax mortgage releif and non declaration of rental income.

I suspect that even if you do get this £3000, and sell up you will still be in a pickle in 18 months.

Depression and a nervous breakdown is not an excuse not to work, the reason that you have not in my opinion is that you having too much of a nice little earner and this has allowed you to do this.

SF

climbgirl

Robflh wrote: »

I have also herd of people that have thousands of pounds on credit cards and all of it is at 0%. They constantly move the money from one credit card to another, while they invest that money and get a good return on their investment.

I also know of other people that only use their credit card to make large purchases. When they need a new fridge freezer, they pay for it with their card and always pay off the balance over the next few months. They are then ready for the next time they need to use the card to bale them out.

Yes of course, it's called card tarting, I was a big fan of it myself and made a lot of money out of it until they introduced the 2.5% transfer fee. I also use a cashback credit card to great advantage - I've been using credit cards now for about 15 years and have never once paid a penny of interest or charges. Use them wisely and of course they'll work for you.

But card tarting to make money isn't at all what you're doing. You're shuffling funds around to avoid having to pay the debt back because you don't have any income to actually pay what you owe. You're not using them to make money for yourself in the way you described. Big, big difference. And it's a difference that you can't seem to get your head around.

And as melodytoon said, it's all come crashing down because Amex have pulled your limit and you've got no more shuffle room and suddenly you've got to pay the debts back. With what, I'm not sure because there's no income. You seem intent on ignoring the advice given about selling your house in its present state to sort this out but I don't think you've got a lot of other options open to you.

I wasn't going to post on this thread again but you just seem to post such disillusioned statements about the way to handle finances that it's almost necessary to correct them so other people can take them with a grain of salt.

climbgirl

melodytoon wrote: »

You said that getting rid of your debt isn't your primary concern, & therein lies your problem. You will continue to amass debt until you can't get any more. Who will you blame then?

Oh so true. I've said it before but I don't think it's sinking in - I believe you've come on this site not to get help with debts but looking for a way to find access to £3000 because Amex have so rightly pulled the plug on someone who, by their own admission, has been living on credit for 12 years.

You've painted yourself into a corner here and there's finally nowhere else to turn to avoid paying back this money for a few more months. What you should be thinking of isn't how to find more money to renovate the house - it's how can you start paying back what you owe. I don't think you really get this.

melodytoon

Robflh wrote: »

Hi melodytoon
Sorry but most of the points you have raised, I have already answered so many times before that I just cannot be bothered to go it all over again. Sorry if that sounds harsh.

Water off the proverbial duck's back. I posted what I did because I felt it needed saying, not out of any expectation of a response, harsh or otherwise. You can lead a horse to water, but you can't make it drink. I've got debts of my own, but I'm dealing with them by postponing some of the things I want to do in life until I'm in a better position to afford them, rather than blaming others for not allowing me to get further into debt by trying to have them sooner. When you're almost at the point of dying of thirst, perhaps you'll do the same.

Robflh

Hi Steel

I have never worried about being in debt. I suppose in the back of my mind I have always known I can kill the debt at anytime by selling my home.

The one thing that has always worried me and made me quite ill at times, is not having enough money to keep my head above water. As I have explained before, when I first lost that job I got into a lot of trouble money wise.

Once I started to use the credit cards as a buffer, I was able to keep my head above water. The water maybe getting deeper but as long as I can keep my head above the water I would be ok and I would not have to worry about how I could pay for this and pay for that. With one hell of a weight lifted off my shoulders I could relax a little bit. Once I had a job I would be able to sort out the credit cards.

As I have had a large reduction on my AMEX limit I no longer have that buffer. If I lost a lodger tomorrow, I do not even have the money to put an advert in the local paper and because of the renovation work I can not only pay the minimum payment while I find a replacement lodger. I now need both lodgers to make the minimum payments. Again a calculated risk, which I did have covered before I had the limit reduction. If that was to happen friends and family would help me out but that would not stop me from freaking out if it happened.

Has anyone got a caravan they could lend you so you could live in the caravan for a few months and let out your room in the house? This depends on you having room outside of course and nice neighbours. Alternatively, advertise on freecycle (see below) for a sprung sofabed and move yourself into your living room (if you have one) and let out your bedroom? It would only be for a few months and could a) bring in valuable extra income and b) give you the room to find that superb builder.

I do not need the Caravan I have friends/relatives that will put me up. Having a third lodger causes a few extra problems. My home becomes Multiple Occupancy Accommodation and that means I have to conform to a lot of regulations, which I believe would also mean having work done to the house. At the moment all the building work is done and one of my two lodgers is a plasterer.

I would also have to inform the Benefits Agency that I am getting income from a third lodger. It is not worth hiding it from them and these days you can go to prision for it. Although I think that is more for those that are working and still claiming benefits.

Interestingly, when I first signed on at my local jobcenter I only had one lodger and when I put down the details for that lodger, the lady I saw told me that most people never put down that they have a lodger. I also got the impression that if they do not know they do not care. However, I have always told them how many I have and how much I get from each one. The other strange thing is that I loose less in ICB then I did with JSA.

My volunteer driving is a different story. They seem to be extremely unhappy with the fact that I get 40P per mile to reimburse me for my expenses, petrol, wear & tear and so on.

Anyhow, I do not like having lodgers but to keep my head above water I have to have them. As long as I am living here, there is less chance of things going missing. However, if push comes to shove that is exactly what I have already planned to do.

What did you used to do for a living by the way?
Over the years I have done all sorts of manual work. I only received a standard education and because dyslexia was not as well recognized in schools when I went to them as it is now. I never received any help for it at school and therefore I left school with few and poor qualifications.

I have always liked electronics, so over twenty years ago now, I did a one year course at a Skill Center for Radio and TV Electronic Servicing. That is what got me the job I had.

I worked in the quality department of a company, that made electronic products. If something came back from a customer because it had been rejected, it was my job to find out why. I also batch checked products before they left the factory. Over the ten years I was there, I learned a lot and I loved my job.

Until that is, we had a new manager and then for the last couple of years it was a living nightmare. I was off sick several times in the last year because I could no longer face going to work.

These days I would just like to have a job that I can do, I would enjoy doing and one that would allow me to make ends meet. It does not need to be a high flying job or have a large salary.

I have already asked the two people to take out a loan on by behalf. What did they say in reply? Are they thinking about it? They are not in a position to be able to get a loan even if I would be the one making the payments

I told them I would give them back £1,200 with in a year if they lent me £1,000. That would be a 20% return on their investment. Sounds like a good deal to me! Did they go for it?

I asked them to think about it and let me know if they would be interested in doing it. As they have not come back to me I have taken that as a no and I do not want to ask them twice. It is bad enough I had to ask them for help once.

Are you telling me to ask someone to steal a suite for me and pay them something for their trouble. I do not think I would be happy about doing that. I was just checking that you was not asking me to do that and I too look on the Tesoc's Customer Noticeboard. As well as the classified adverts in my local paper.

I will look into the Freecycle later today and thank you for trying to help me.

Ps. If you are also in debt and have not already started your own thread, do just that and perhaps I can help you out or I can set up a temporary email address and post it here. Once you have used it to send your email address I can delete the temp email address.

Robflh

Hi Nicola

I have the best doctor in the world and the antidepressant medication I am taking is working well. I also have Diazepam for my panic attacks, which is more commonly called Valium.

When I went on to Incapacity Benefit, I had an appointment with a personal advisor. She told be about some courses that I could go on. At that time, they were new and I was a bit of a guinea pig. The best one was for Stress Management. I think that is partly why I have not yet freaked out.

Until the other day, when I picked up a lady to take her to the supermarket, I thought I was doing quite well. She has not seen me for two weeks and the first thing she did was to remark on how well I was looking. According to her, I did not look very well the last time she saw me.

Anyhow if you would like to know what is left to do on the house it is all detailed in post 40 Paragraph 18 (As two people have now asked for this information, here it is). A friend is going to try to get the paint and the timber for me.

My PS to Steel also applies to you, if you are interested.

Storm

I have never worried about being in debt. I suppose in the back of my mind I have always known I can kill the debt at anytime by selling my home.

But you're not prepared to do this now, even though you know you've not got enough credit remaining to get through the next few months!

Why do you think that Amex 'owe' you the high limit? You think you've managed your credit well over the last 12 years, but they will have noticed the shuffling going on - especially if you've ever paid a minimum payment to another card from there this will have started alarm bells ringing.

The only option you seem to be interested in is where you can get the £3K from that you reckon you need - if banks and close friends aren't willing to lend this to you then it should be a wake up call - no one apart from yourself appears to think your plan is a sure thing!

All through your posts you appear to be blaming others for everything that has gone wrong - your school for not recognising dyslexia (which depending on your age I appreciate that they wouldn't necessarily have even heard of it, but have you done anything since to get qualifications?), your manager for causing the depression by the sound of it (why didn't you either make a formal complaint or leave?), people claiming back unlawful bank charges for the increase in your interest rates (haven't you noticed the Bank of England raising interest rates on a very regular basis?) and now Amex for choosing not to let you borrow more money!

I know this is harsh, and probably at least brought on because I've got depression myself, am having a bad day and I can't believe that you somehow think other people are solely to blame for your troubles. You will never get out of the depression until you start taking responsibility for your own choices and not thinking others should want to help you.

You need £3K? Sell stuff, get rid of cable, eat beans on toast for a month. It is your responsibility to get the money together, no-one elses.

climbgirl

Robflh wrote: »

Once I started to use the credit cards as a buffer, I was able to keep my head above water. The water maybe getting deeper but as long as I can keep my head above the water I would be ok and I would not have to worry about how I could pay for this and pay for that. With one hell of a weight lifted off my shoulders I could relax a little bit. Once I had a job I would be able to sort out the credit cards.

As I have had a large reduction on my AMEX limit I no longer have that buffer.

You've just hit the nail on the head - the writing is on the wall here. You can't keep shuffling to avoid the debt now that AMEX have cut you off, you have to pay it back. You are no longer in a position where you are keeping your head above water, you're sinking and you're sinking fast.

What seems to be obvious to everybody but you is that selling your house will solve the problem. You have no income and if you can't/won't work, then that isn't going to change. So with no money, you have to turn to your assets to try and solve this. Trying to borrow more money in order to do up the house, is just more stalling and you must realise by now that with a financial situation such as yours, no bank will lend to you.

flaura

I've been reading this thread through and through ! i don't understand why people are replying I don't think rob wants help he just wants £3k so i shouldn't bother posting unless anyone is willing to lend him £3k for his ingenius plan that the rest of the world doesn't think is going to work ...

rob if you don't want advice don't ask !:mad:

Robflh

Hi kathy206

When you have got through this (and I am sure you will).
You are provably quite right. Sorry if I have taken that slightly out of context but the point is, I will get though it whether that means selling the house now or finishing the house off and then selling it. Either way the debt will have been killed by this time next year.

Personally speaking I have never had a moments doubt in my mind that I will get the house finished, keep making my payments until the house is sold and still keep my sanity. As I have said time and time again, I will get past the obstacle that is in my way. All I have ever asked for is suggestions on ways I can get round it.

I have never asked for reasons why I should give up nor do I want them or need them. So far, I have been very patient with these people but from now on, I will not be. If you do not have anything positive to say, do not post here.

You may not like the replies you get from me and that is assuming I can be bothered to waste my time and energy on you in the first place.