I want to stop drowning

debtaghh

Ok so I gave to own up that I wanted to do a balance transfer of 4K asi was feeling really stressed about not having money for this , that etc. I was also feeling stressed that the mo he in the account is going to vanish within the next month or so. My dh was against the transfer and I listened to him and disinterested do it. I also worked out that I would have to work a month just to cover the transfer fee!

WannabeFree

I need to pop out of lurking again.

I'm sorry if this comes across wrong or harsh. However, I know you need to repay your parents. However you need to keep a roof over your heads and food on the table. No a DMP wouldn't allow for the £280 per month for family repayments however they do allow quite a high amount (in comparison to what someone being MSE can live on) They allow quite generous groceries/xmas/entertainment/clothing budgets etc which you could add some onto to repay family.

I know if you 'default' on your parent's repayments then it will cause stress and hassle etc but no where near as much stress as being homeless etc.

You are doing the best you can with what you have and that is all you can do. You aren't spending on 'wants' you're not booking extravagant holidays or spending on new bags and shoes. Something somewhere needs to give before you make yourself unwell with all the worry.

Please look after yourself

x

enthusiasticsaver

Well done to your DH for talking you down. Adding another debt to your collection is not the answer. Balance transfers for anything other than moving current debt to 0 is making it worse. I understand your need to have a cash buffer but taking on more debt is not the way to do it.

enthusiasticsaver

Whose name is the debt in? I cannot believe you are getting cards accepted with no income if in your name.

debtaghh

The debts are in both out name. It wasn't a new credit card, it's one I have that has 6k not used and that is where the offers was.

enthusiasticsaver

debtaghh wrote: »

The debts are in both out name. It wasn't a new credit card, it's one I have that has 6k not used and that is where the offers was.

It would still be increasing the debt total and the minimum payments which I think you are only making now aren't you? To be fair the credit cards don't know you also have family debt but I find it quite incredible that they continue to offer deals on cards when only minimum payments are being made unless this one is empty?. It just makes people struggling with debt being tempted into taking more. Please continue to resist.

Do you have sufficient money set aside for the deposit for the new house? If you do that is all you need to worry about. You presumably have a deposit coming back from your current house and you are starting work soon if not already. Hopefully you have not booked a holiday this year so look for cheap things to do over the summer and maybe use your income to pay for these until you are on an even keel with your new rent and utilities. Is the council tax cheaper with this house than the first one?

debtaghh

I tend to pay more than the minimums to be honest and have paid quite a bit off it in the last year.

I started my new job a few weeks ago.

The council tax and rent is more

enthusiasticsaver

Good news about you paying more of the debt off in the last year. Shame about council tax and rent being more. Hope job going ok.

debtaghh

Morning,

I've just paid the the minimums plus a bit extra, signature updated. It's good to see it's going down albeit slowly!

enthusiasticsaver

Well done. I thought it hadn't been updated in a while.