Feeling very down today...

**Amy**

Well i posted my SOA last week, and i thought i could be debt free in around 6 months (at a bit of a struggle, but it would be worth it kind of thing) but now i just dont know.

I think i lost my part time cash in hand job (not sure the landlord wont answer his phone), i have no spare cash.

I also just checked my APR on my loan with my bank (as i was going to try and transfer my credit card over to it if APR was lower) and the APR is 19.9%, i didnt realise it was so much...



I just really feel down about it all... someone i am close with has also said i should go bankrupt as its "easy" but i dont think my debt (£10K) is THAT bad to do that and ruin my credit (even tho my credit is "poor" as it is!)

Im quite close to just going bankrupt... just cos im feeling so down...

Sorry for whining!!!

xxx

sammy115

once you go bankrupt then what!

Everything will be difficult...... bankruptcy is not an easy option, but you may want to wander over to the bankruptcy board and ask the question.

The problem with becoming DFW is that it isn't easy, you just have to think outside the box. Can you get a credit card with a better rate i.e do a balance transfer to a 0%.

How much do you earn. What is your debt to earnings ratio....rather than go bankrupt what about a debt management plan.

It is two steps forward and one step back in here, but you will get somewhere eventually.

big hug

**Amy**

Thank you for your reply. I know deep down i really dont want to go bankrupt, as its the last resort for people who have major debt problems etc

I do earn a decent salary, i can pay off the debts within around 12 months, but i wanted to move to Ireland within the next 6 as my mum is over there and my boyfriend is (he moved back home for work).

I think thats what is making me so impatient.

I think i just need to leave the debt stuff today, go and sit outside, relax and then come back to it tomorrow with a fresh head!!


xxxx

livingbeyond

Dont do it, I have not done it myself, but I dont think it would be the 'easy' option. Keep your head up and set yourself smaller goals. When I first admitted to my debts, I felt that there is no way out. I only did this a few weeks ago, and now I am totally commited. Change a few things in your life, make a few sacrifices and you will come out of it, probably a stronger person.

A few of the things I have done so far:-

Reduced sky tv package
Swapped mortgage onto discount long term fixed rate deal.
Check utility bills and providers for the cheapest deals.
Sell unwanted items
Make meal plans (saves on impulse buying at the supermarket)

These are just a few things, but you can do it. keep coming back for support, I think there are a lot of people on here with similar situations who have been through just what you are.

LivingBeyond

fannyadams

aaawwww AMY, here have a !!!!!!!!!!!!!!!!!!{HUG}}}}}}}}}}}}}}}
perhaps you are trying to catch the landlord at the wrong moment - you must know when the busy times are....
take a deep breath and have a look around to see if you can get a better rate somewhere else. or maybe talk to your bank about your financial difficulties.
I'm sorry that i'm not being much help here, but I dare say there'll be someone else along in a bit to offer you a better solution. you should be proud that you want to deal with your debt.
FA
xx

always_amazed

hey,
I'm quite new to all this so can't really offer any *real* advice;
but just wanted to give you a bug HUG!

Stick with these forums, I think if you bump up (or copy and paste) your revised (minus cash in hand job) SOA again someone might be able to offer some useful advice.

Know very very little about the bankrupsty thing but I'd urge you to find out more before taking any action... I think that getting debt free isn't going to be easy, however it's done: but saying that, this forum can be a major source of support, and can make the tough days easier to handle!

xxxx

January20

Amy, I've just looked at you SOA and I calculate that you have "only" over £10,000 worth of debts. Is that correct?
Don't make any rash decisions. You are just feeling down and you'll feel better once you get some concrete answer about your part-time job: either you still have it or you'll find something else.
Perhaps it's because you are a little over-ambitious to want it all paid off in 6 months?
Don't worry, you'll get there!

Thermal_2

Don't go down the bankruptcy route unless it really is your only option. My father went bankrupt, not through his own choice but through his business failing. We were in the fortunate position that we were able to extend our mortgage and buy his house so that at least my parents didn't have to move, but things are really difficult. Even signing up for a different phone company to take advantage of cheaper rates is a problems with his credit history (which was fine before the bankruptcy)

If you're earing a reasonable wage then £10k is not a massive debt - it is certainly manageable by means other than bancruptcy. Keep strong and you will get over this.

sammy115

**Amy** wrote: »

Thank you for your reply. I know deep down i really dont want to go bankrupt, as its the last resort for people who have major debt problems etc

I do earn a decent salary, i can pay off the debts within around 12 months, but i wanted to move to Ireland within the next 6 as my mum is over there and my boyfriend is (he moved back home for work).

I think thats what is making me so impatient.

I think i just need to leave the debt stuff today, go and sit outside, relax and then come back to it tomorrow with a fresh head!!


xxxx

Why would you have to wait to move back over to Ireland. If you got another job over there first could you not then go and move in with your mum or boyfriend and save even more money.

I started this journey two years ago and wanted to pay my debts off in two years. However, both me and OH lost our jobs and we are just getting back on our feet now. We would have been lost without this site and as it is we have still managed to reduce our debts significantly.

**Amy**

I wanted to do the "new start, fresh start" type of thing.

To be honest i wouldnt get a job as well paid over there, and my mum did say i could move in with her, its just a bit bad if i have £10K worth of debts to pay, i would feel bad.

I thought if i use going to Ireland as my goal i would get them paid off.

I think i could pay them off in 9 months, if i buckle my belt!! Fingers crossed!

xxx

GettingThingsDone

Hi Amy - you're in the best place to get yourself sorted. As you know, life is never straight-forward! Buckle your belt, knuckle down and crack on!

One door closes, but I'm sure another one will open - you will get there!

gtd