nebie - be gentle !

rayday2

The above poster is right your attitude is slowly changing throughout the topic.

I still think its too late to worry about a bad credit history - they are reducing limits your credit history is already bad! I think you have been the victim of irresponsible lending too to be honest caps should have been put on long before now!

The main priority now is keeping regular payments to the mortgage and if you have any secured debt. Then pay the others with what is left.

I understand about talking on the phone so why don't you pop back to the national debt helplines website and download there pack it is full of help also you can download payment calculators and template letters. To buy time to pay the mortgage I would cancel any direct debits to non essentials and write informing of difficulty and asking for a balance and to reduce interest, that gives you about 28 days to make an offer of payment. If your bank account is with any lenders you had better start thinking of applying for a new current account - could be tricky with your list though!

Things are only grim when you sit around thinking about it. Also with regard to your ex getting money if you are in a DMP or an IVA (not sure if the last is possible) courts etc will acknowledge that your ex financial position is actually better than yours!

Debt is very humbling, but like you said you could sell things and make it short term. But you really do have to prioritise the important people to pay and those are mortgages and anything required by law, tv licence and council tax and obviously utilities and food.

rayday2

Sorry just re-read that and I sound dreadfully bossy was meant to be firm and positive!

Pooky

Although it may seem like throwing money away if you sell things now rather than when you've done them up, you have to realistically work out how much it will cost to do the work needed, how long it's going to take you, the profit you'll make and the extra interest you'll be charged on your current debts.

Try and work it out to actual "man hours" and see if the amount you "might" get is what you'd expect to earn for working the same amount of hours.

Good luck with it all

135K

ok - I have just been out to get some paint to refurb some alloy wheels before I put them up for sale.

with regards a DMP - I know it will trash my credit rating - and that doesn't bother me (tell me if it should) because my 'new' way of thinking, is I dont want any credit (debt) after I've got sorted. Tell me if I am wrong therer.

also - how will it affect my Wifes credit? as she is not in a position to run her business purely on cash.

Can I do the DMP thing on my own - or will they want every penny my wife earns too ?

I am just checking, before I jump in with two feet !

as for a job ! I wouldn't know where to start - I haven't had to look for a job for 25 yrs ! I was 'head hunted' from one job to another until I went solo. is the job center still the thing ? agencies ? can I get flexi hours so I can still take / pick my kids up ? something I never though I'd be asking ! I can see shelf stacking at night might be an easy option for some extra cash while I try and get my own stuff done in a day . 10 yrs ago I did 6 months working 2 jobs (one job and one new business venture )and surviving on 4 hrs sleep a night , so I think I could do it again for a while.

[Deleted User]

Whats your specialism? You can get contracts from companies online, I dont do contracting but some of my friends make a good living out of it. You could try applying direct to any government department/civil service always requiring high standard people for the averagely paid jobs.

What about working for the tax office?

Robflh

Hi 135K

135K wrote: »

Ok , I have just finished reading that long thread about amex killing him.

It might be because I am too tired now - but I dont get it. I was waiting for the end and it seemed to be suggested that the thread is a fake?

I did tell you it was a waste of time reading my thread and no it is not a fake. Unfortunately, you did not see the post I made ten minutes before you did your post at 23:46 yesterday.

TIP: press the preview button before you make your post and then scroll down to see what the last post was.

I stopped answering posts on my thread because all the negativity got me so down, that I had to get stronger Anti-depressant tablets.

135K wrote: »

I really found it difficult to talk much on the phone, as I could cry if I think about it. Typing is much easier!

I know the feeling only too well. I tried to just answer a couple of posts because I was concerned for the two people that had made them but I was slated even for that, so I removed the email notification for it. I have not looked at it since and as I will never look at it again there will never be an end to it.

135K wrote: »

I can only hope that you can believe me that I am not the other guy.

That is not very fair on me, I have been trying to help you and unlike some, I have never slated you.

Anyhow, before we can help you we need to know all the financial info.

Income: or in your case what are you using to make the payments each month.
Outgoings: other then the loans and credit cards.
Creditcards: debt now, credit limit, APR and min payments.
Loans: amount taken out, debt now, payments, APR and length of loan (Months).

I am presuming that all off them were acquired while you were self-employed.

Do you have anything you can sell at Cash Converters or on eBay or can you pawn something? It does not have to be anything big and it is just to get you enough cash to make the payments this month possible next month as well.

This will give us the time to review you situation and make suggestions and you the time to implement any that you think will help you. Try not to start a DMP before we have had a chance to look at your finances, you never know what we might come up with.

Please make an appointment to see your Doctor and explain to them what is happening to you. At the very least they will give you some sleeping tablets and during this time you need to be getting a good nights sleep.

Ask them, in their opinion, do they think this is get you down. If that is the case, they may put you on a short course of Anti-depressants.

Apart from finding the money for this months payments and maybe the doctor, the most important thing to do is to post your financial information ASAP.

Lord_Lardington

With regard to Mortgage payment holidays, my mortgage company (Northern Rock) seem to require that you've previously overpaid before you get the holiday.

I'm far from an expert on this so perhaps other posters can confirm if this is usual or particular to NR or even just the deal I'm on.

With regard to the boat, just what will you be doing to it to increase it's value by 75k? It sounds like a big jump without actually having to buy some other assets to bolt onto it, like radios, sat navs, big engines etc.

poppy10_2

Yant1 wrote: »

No income as such and 135K of debt...

Hmm very interesting, may I refer you to Paul Daniels financial services they can help you. I think the bird was never in the clock with you.

file for bankrupcy

LOL, that's so cruel but it made me laugh so much :rotfl:

[Deleted User]

In my experience, I have helped rebuild cars before and its often the case that 30K of work increases the 2nd hand value by 10K. Its not really a profit thing, its more for teh love of it. It cost my mate 4K just to get it acid dipped, and galvanised (after we rewelded damaged panels). So might be best to find people that were in love with said items as you were with them and get teh best price.

Rob, sound advice, go to your doctors and get a chemical labotamy will solve everything :rolleyes: :T :rotfl:

135K

Robflh - I wasn't trying to be fair or unfair to you - I just noticed that some people thought you were faking it, and some thought I was you. those two things wont get me the help I need, so I was just trying to make myself clear - I wasn't you.

As for the doctors - I dont want sleeping tablets and I dont want anti depressants . I have heard they are addictive.

I am addicted enough to alcohol since last year in the family court - but thats another issue that I have to get my head around. so far, its not to bad, but like last night - if I haven't had a drink then I cant sleep for worry. Then in the morning I cant consentrait without 'just a little' to get rid of the axious feeling. anyhoo - I digress .... one problem at a time.

Lord Lardington :- the problem with the boat equity is the boat saftey scheme. Basicaly I have had the steelwork made, and I am fitting it out from scratch. once it is finished, it will need a survayor to sign it off as fit for use on the waterways. until that point, it is just steel, fixtures, and fitting. with the certificate, it is then a 'new live aboard boat' I can sell for market value.

its like building a house, without builing regs its worthless, but when its finnished and sign off with all the correct paperwork - its a 'house'

does that make sence ?