Hate myself for being so foolish

reformedEffortMaker_2

squirell29-seems like you have been getting great advice so far!....i'm having a think as to what I can suggest to help, but whilst doing that wanted to say "Good Luck!!...work hard and you will sort your debt!!"....please keep posting, these forums are a great place support :-)

CharliesAngel

Hello Squirrel29

I'm in the same sort of situation, refused a loan from my dad to pay off my A&L loan for the kitchen I no longer own lol... have a few ideas that might help....

Mortgage - Can you/are you willing to extend the repayment term to 25 years? My morgtgage is 69k over 25 and paying £310 a month...

Do you need insurance for your dog? They often don't pay out due to some loophole or other...

Sky - can you add broadband/phone for £26 a month and get rid of Virgin?

your food bill seems quite high, have you seen the old style board for meal planning/bulk buying and cooking etc? I've got my monthly bill including cleaning stuff to £47 - I don't have kids but I'm sure you can reduce this

Petrol - do you need your car to get to work? Is there any other way?

Would you have funds to clear your GUS catalogue in one go? that's one out the way!!

Pocket money is a bit steep! I used to get £1 - I'm sure if you tell your son you can't afford so much he'll understand, or let him help out around your house too and 'earn' a wage...

Can you transfer any of your cards to 0%? I would transfer Virgin to Nationwide or Cahoot, would lower the interest etc. My Virgin card has just gone up to 21.9%! Ouch.

Have you got a spending diary to see where all your money goes to? It's frightening reading!

You're not at bankruptcy... you've found the right place I'm nearly halfway there, used to owe nearly 20k on my own, that was due to moving house/service charges on the flat etc... nothing exciting!

Hope this helps and if i've repeated anything I apologise..

CA xx

GeorgeUK

Hi Squirrel

Although it may seem hugely daunting, you are going to do this.
Alot of people here have had bad debt and made it. You will too. The advice here will be invaluable but don't try to do everything at once. Look at the debt as lots of smaller segments. Then once a segment is removed, you will feel better rather than just trying to look at the debt as a whole.

With regards the US trip, i would definately use the extra money you are going to get for that and any spending. Also advise your son to start saving for things he may want to buy in America.
I'm not trying to get you to spend more money, but with going to America, you also have a chance of making some savings if you leave plenty of luggage space. As you do not go for labels, you will be very pleased at the prices of some of the clothes shops in the US so if you need a new jacket or some dresses - i'd advise to do it there.

Also a note of caution. The advice about 0%CCs is spot on, but be careful you don't hurt your credit rating by doing too many applications. Usually 3 in a 6 month period is advised. I would also go to experian website to get a free credit check.

good luck (and keep smiling)
George

basketcase

Re paying for the holiday. Just a thought...

Would it be possible to tell your dad that you want to act responsibly about money so thank you but you think you could manage to Cahoots debt on your own. BUT you've realised that this debt has eaten up the money you intended to use when you promised to take your son away. Would he be willing to loan you that money interest free?

You know your dad better than me.

lynnejr200

Squirrel,

You sound really low but you will come through this and will be a fantastic money saver by the end of it all.

Have you read Martin's Money Saving Expert Book? I realise that all of the information in there can be found on the website but I found it easier to work through the book, section by section, rather than thinking where I might be able to save money then looking for that specific topic online.

Hope you feel more positive soon. Remember that you've taken the biggest leap in working out what your debt is. Now you've just got to take it day at a time. xxx

Squirrel29

CharliesAngel wrote: »

Hello Squirrel29

I'm in the same sort of situation, refused a loan from my dad to pay off my A&L loan for the kitchen I no longer own lol... have a few ideas that might help....

Mortgage - Can you/are you willing to extend the repayment term to 25 years? My morgtgage is 69k over 25 and paying £310 a month... I was considering asking if I could go interest free for a couple of yrs, thought it may free up a couple of hundred per month.

Do you need insurance for your dog? They often don't pay out due to some loophole or other... I have a cavvie, he is only a year old but they are prone to health problems so feel bit happier about having insurance.

Sky - can you add broadband/phone for £26 a month and get rid of Virgin? I tried to get this offer, previously had 3 for £30 with NTL but wanted the sky deal as seemed cheaper. I called them, was told I could have it but would need to get BT line. Once that was fitted I called back only to be told it was not yet available in my area!! I could only be offered the £18.99 broadband which mean it was about £40 plus phone line plus calls!!! Decided to stay with Virgin broadband as cheaper but so annoyed as already committed then to Sky and BT line for 12 months by then.

your food bill seems quite high, have you seen the old style board for meal planning/bulk buying and cooking etc? I've got my monthly bill including cleaning stuff to £47 - I don't have kids but I'm sure you can reduce this I am sure I can reduce it by planning meals, I took the time today to tot up expenditure on food last month and it was £260!! That's where the "spare" cash went. It is because of going to local shop every day instead of proper supermarket shop. There are two of us in the household plus a dog and two cats.

Petrol - do you need your car to get to work? Is there any other way? I need my car once or twice a week for work but can bike there in 25 mins the other days, it makes sense as it actually takes 20 mins to walk to the car park and then have same amount of time to drive home!! I also sometimes am able to claim mileage as use car sometimes for work purposes - am due £70 mileage next month which I will put aside for road tax which is due end Oct.

Would you have funds to clear your GUS catalogue in one go? that's one out the way!! Don't have funds at moment to clear GUS catalogue, have thrown it away though so not tempted again, very expensive way of shopping anyway.

Pocket money is a bit steep! I used to get £1 - I'm sure if you tell your son you can't afford so much he'll understand, or let him help out around your house too and 'earn' a wage... He has seen me crying today and said he couldn't bear to live without me so he is aware of how desperate I am. I will talk to him about cutting back on £20, as long as we go on NY trip next year.

Can you transfer any of your cards to 0%? I would transfer Virgin to Nationwide or Cahoot, would lower the interest etc. My Virgin card has just gone up to 21.9%! Ouch. I really want to request decent balance transfer rate but am also scared they will say I am not fit to have the card and then demand payment in full, even though I have always kept at least minimum payment. My credit seems to be shot as have made couple of applications in the last month and been turned down.

Have you got a spending diary to see where all your money goes to? It's frightening reading! I am going to do spending diary, will also do weekly shop and only take £40 each time. One of my biggest expenses is plug in air freshner - cost about £3-4 each refill, feel I need them though with having dog in house. Also with popping to local shop each day, end up buying newspapers, mags and chocolate which adds up.

You're not at bankruptcy... you've found the right place I'm nearly halfway there, used to owe nearly 20k on my own, that was due to moving house/service charges on the flat etc... nothing exciting!

Hope this helps and if i've repeated anything I apologise.. I feel much better after reading your reply, thank you so much. Am still considering postponing payments into pension fund for couple of years, would save £100 per month although am I right in thinking that I get tax relief so wages would drop a bit if don't pay pension??:beer:

CA xx

Thanks so much for your replies, feel a bit more positive, wish I had tackled this three years ago b4 it got to this stage, would have been in the clear by now!!

Squirrel29

CharliesAngel wrote: »

Hello Squirrel29

I'm in the same sort of situation, refused a loan from my dad to pay off my A&L loan for the kitchen I no longer own lol... have a few ideas that might help....

Mortgage - Can you/are you willing to extend the repayment term to 25 years? My morgtgage is 69k over 25 and paying £310 a month... I was considering asking if I could go interest free for a couple of yrs, thought it may free up a couple of hundred per month.

Do you need insurance for your dog? They often don't pay out due to some loophole or other... I have a cavvie, he is only a year old but they are prone to health problems so feel bit happier about having insurance.

Sky - can you add broadband/phone for £26 a month and get rid of Virgin? I tried to get this offer, previously had 3 for £30 with NTL but wanted the sky deal as seemed cheaper. I called them, was told I could have it but would need to get BT line. Once that was fitted I called back only to be told it was not yet available in my area!! I could only be offered the £18.99 broadband which mean it was about £40 plus phone line plus calls!!! Decided to stay with Virgin broadband as cheaper but so annoyed as already committed then to Sky and BT line for 12 months by then.

your food bill seems quite high, have you seen the old style board for meal planning/bulk buying and cooking etc? I've got my monthly bill including cleaning stuff to £47 - I don't have kids but I'm sure you can reduce this I am sure I can reduce it by planning meals, I took the time today to tot up expenditure on food last month and it was £260!! That's where the "spare" cash went. It is because of going to local shop every day instead of proper supermarket shop. There are two of us in the household plus a dog and two cats.

Petrol - do you need your car to get to work? Is there any other way? I need my car once or twice a week for work but can bike there in 25 mins the other days, it makes sense as it actually takes 20 mins to walk to the car park and then have same amount of time to drive home!! I also sometimes am able to claim mileage as use car sometimes for work purposes - am due £70 mileage next month which I will put aside for road tax which is due end Oct.

Would you have funds to clear your GUS catalogue in one go? that's one out the way!! Don't have funds at moment to clear GUS catalogue, have thrown it away though so not tempted again, very expensive way of shopping anyway.

Pocket money is a bit steep! I used to get £1 - I'm sure if you tell your son you can't afford so much he'll understand, or let him help out around your house too and 'earn' a wage... He has seen me crying today and said he couldn't bear to live without me so he is aware of how desperate I am. I will talk to him about cutting back on £20, as long as we go on NY trip next year.

Can you transfer any of your cards to 0%? I would transfer Virgin to Nationwide or Cahoot, would lower the interest etc. My Virgin card has just gone up to 21.9%! Ouch. I really want to request decent balance transfer rate but am also scared they will say I am not fit to have the card and then demand payment in full, even though I have always kept at least minimum payment. My credit seems to be shot as have made couple of applications in the last month and been turned down.

Have you got a spending diary to see where all your money goes to? It's frightening reading! I am going to do spending diary, will also do weekly shop and only take £40 each time. One of my biggest expenses is plug in air freshner - cost about £3-4 each refill, feel I need them though with having dog in house. Also with popping to local shop each day, end up buying newspapers, mags and chocolate which adds up.

You're not at bankruptcy... you've found the right place I'm nearly halfway there, used to owe nearly 20k on my own, that was due to moving house/service charges on the flat etc... nothing exciting!

Hope this helps and if i've repeated anything I apologise.. I feel much better after reading your reply, thank you so much. Am still considering postponing payments into pension fund for couple of years, would save £100 per month although am I right in thinking that I get tax relief so wages would drop a bit if don't pay pension??:beer:

CA xx

Thanks so much for your replies, feel a bit more positive, wish I had tackled this three years ago b4 it got to this stage, would have been in the clear by now!!

CharliesAngel

You'll go on the NY trip next year! things will be so much better. You're doing so well already. If you stopped pension contributions, you could pay off the catalogue and say save for 5 months then start contributing again... one debt paid off and spending money for your trip! bargain lol

Are you okay with going interest only? It wouldn't reduce your mortgage, but as you say it might give you some much needed breathing space.

I'd also say give it 4 to 6 months before you apply for another card, too many applications in a short period of time can make lenders nervy! Have you spoken to your credit card companies and asked them to freeze or lower interest rates on the cards?

The BT/Virgin/Sky sounds a nightmare! They could have told you! Grrrr.

In reference to the air freshners... do u have a pound shop locally? you could buy 4 essential oils in a pack and add a few drops to water and spray the carpets before vacuuming.. my cat has the smelliest bottom!!

On that note... lol

CA xx

Squirrel29

Love the last bit about the cat, I have put the dog onto dry food... not only is it MUCH cheaper, we all reap the benefits in fresher air :rotfl:

I have been to my local pub tonight, I spent the grand total of £3.50 (pint of lager + mini chedders), that is in 3 and a half hours! :jI would normally have drawn out £20 and spent most of that in one evening. I have explained to my friends about my situation and they understand that I can't get into rounds.

I now feel obsessed about getting the balances down. I am a bit mad with myself as earned £200 overtime this month but have frittered it away on crap like stuff for garden, it could have paid a large chunk off something. Thank goodness for light bulb moments. I need to get into the frame of mind that it more important to actually keep the house than have a garden worthy of Chelsea flower show!! :idea:

debtfree1day

squirrel

keep going

Barclaycard same with me, i can not BT even though i have available credit!

u can put all ur spend on the card though and divert money onto other debts

Thx

M