need to buy time

toff_2

Hi,

Can anyone help, in deep trouble 10 credit cards between us (me and hubby) loans, overdraft etc outgoings considerably more than incomings, been refused balance transfers and loans secured and un_secured. In about 3 months my hub can get his pension early including lump sum, but we can't pay cards or loans etc in the mean time. So frustrating just a small time issue and we can be solvent.

Maria (wife of toff)

tallyhoh

Hi Maria:D

I think what people try do do on here is put their SOA (statement of affairs), its a list of incomings, outgoings, debts with interest rates etc.
The good people on here can then make suggestions about what you can do to make savings etc.
Reading through the posts on here helps as well, I managed to save about 3k in 7 months just by picking up tips.
Someone else will be along soon to help, but in the meantime try & compose a list of your expenses.

southernscouser

As tallyhoh says, post your statement of affairs. It's very difficult to be able to say, 'do this or that' without really knowing the full details of your situation.

Include all your debts, APR's, etc and what the amount your OH is due to receive on 3 months time.

It might not be ideal but you might be able to get a temporary overdraft or extension with your bank! :think:

Phoning your creditors 'could' be an option and might be accomodating if it was only for 1 month but 3 is a totally different ball game! :undecided

Obviously your income doesn't meet your outgoings right now but are you still using the cards to spend? Is the debt level going up? If so you need to start addressing this now. If you carry on with the same lifestyle you will only end up getting in to debt again.

gravitytolls

Call your creditors. Many will set an arrangement for 3 ~ 6 mths.

rayday2

I would write to them and offer them token payments for 6 months (give you time if you say 3 and it takes longer they won't be so accommodatiing!) you can get template letters off the national debthelpline website they also have a formal budget calculator you can send too. I would do all your negotiations in writing rather than calling.