should i just default??

minipoppy

so here the situation.
i meet my partner 3 years ago i had very good credit he had poor credit ccjs thousands in unpaid debts etc. we opened a joint account as he wasnt even allowed a current account. anyway over the last 3 years we moved 4 times, i work part time now after having my son and my credit score is now poor even though iv not defaulted on any accounts cards or overdraft. i'm now being refused balance transfer cards and stuck with a card with £700 on which im paying small amounts off each month, more than min but just a little more. i have £700 overdraft which im always in paying £30 a month for. iv been refused money transfer cards to clear the overdraft and refused balance tranfer cards to clear the credit card. iv just opened a new account with nationwide hoping for the 12 month 0% overdraft but they have refused me an over draft....... im about to go on mat leave again which i only get smp for for 9 months. not much more than my part time wage anyway.

im really struggling to get out of the debt iv tried everything to transfer and give myself time to make payments off the balance rather than interest.

shoudl i just transfer all my direct debits to my nationwide account and default on the overdraft? last time i did with same bank they stopped interest and allowed me to reduce the debt by £30 a month which is what im paying now in interest. i can still pay the credit card even though im only clearing £10 a month of the balance im happy to do that. were not going to get a mortgage any time soon as partner ccj are only 2 years old and still has debts hes paying on a payment plan, hes the main earner so its his income they will look at anyway. im being refused credit so should i just default to be able to get debt free eventually?

The_Boss

Obligatory "You don't have a credit score" comment.

Defaulting? Jeez. That's extreme. Settling your debts needs to be a bigger priority than a mortgage, particularly as you would have incurred costs on the previous times you've moved.

If you really can't play I'd write to them giving your situation and advising you can't pay and sort it out with them.

minipoppy

i contacted my bank and asked them to put me on apayment scheme as im struggling to make the interest each month which they said until i default they wont agree to any interst free repayments

Thrugelmir

Speak to the National Debt Helpline. It's a totally free service.

To make any difference you've got to really want to change things. Often called peoples light bulb moment. As otherwise you've no hope of ever getting a mortgage.

happy_bunny_2

Step change have an online form that you put all your details in and it advises what options may be best for you.

Tixy

The joint account will have caused a financial association between your partner and you. This will have been affecting your ability to get credit. Although now if you have a low wage or only on SMP then you may well still struggle to get a new balance transfer credit card.

I would first consider closing the joint account and filing a notice of disassociation from your partner.

So are your debts just £700 on a card and a £700 overdraft? If so then I would just continue as you are and hope to make small inroads in to your debt each month.