Pay off the credit cards with loan.

MalMonroe

RyanHello said:

goldieandblackie said:

This is just one reason they should teach money management in schools.

Even if they did, there would be still be a lot of people utterly useless with money. We've all seen the people on here who get into debt, pay it off and then get into debt AGAIN a few years later. It's like a crash diet, there is no helping anyone.

The only thing that needs to be taught at school is Maths, English and common sense. Everything else falls into place later on.

That's a great philosophy on paper but in reality, common sense simply cannot be taught. It's nous, it's your intuition, it's just THERE in you. It really can't be taught. How to handle money SHOULD be taught, no question. When you think about all the other rubbish that's taught in schools, they could squeeze in half an hour a day to teach people how to cope when they leave school, uni or whatever.

MalMonroe

goldieandblackie said:

This is just one reason they should teach money management in schools.

Totally agree.

MalMonroe

Henivida said:

MinuteNoodles said:

You can't afford to move, you can't afford a loan, you can't afford more borrowing, you can't afford a season train ticket.

You are skint, you are broke. You can't even afford your current financial commitments because you're failing to repay your debt plan so given you can't even pay that you can't afford more borrowing. You most certainly can't afford a mortgage not that anyone will give you one.

As it is at the moment technically you're bankrupt. Yes, that's right. Bankrupt. You cannot service the debt you currently have, you have no assets to cover that debt.

They are offered us a mortgage already. And yes I can top up my loan because they offered me already. People are using loans to pay off their credit cards. 

The credit cards are up to date only the lockdown period was bad. Since I’m working they are all up to date, but I wanna get rid off them. 

Also, I must move, not because I want we must move and I can’t leave the job as nursery manager so I do need the annual ticket to travel here at least for the following year. 

Thanks for the “advice”. 

How on earth have you been offered a mortgage when you have debt and you don't always make repayments on time? You say you've been offered a top up loan which is absolutely crazy because you cannot afford to pay the loan you already have.

Whoever is offering you all this money doesn't care about the fact that you may get deeper into debt and end up being bankrupt. The worrying part here is not so much that you are in debt, many people are right now but that you are cavalier when you mention missed payments, thus - "I’ve got 3 credit card in a debt credit agency. I’m paying those monthly but I got loads of missed payments. I’ve got a loan which is always up to date! And my phone bill which is got worst due to Covid-19."

How are you going to sort all these debts out, at the same time as taking on even more debt?  This is what MinuteNoodles is trying to say to you. The advice being given to you is sensible. You've asked what people think, and this is it. 

The best advice I can add, if you will consider it at all, is to contact a debt help agency and ask what their adviser thinks. I used StepChange, they give free, expert debt advice - but there are others, including Citizens Advice. It's crazy to go diving into a pool of debt (puns intended) when you cannot manage or control the debt you already have. This is what people on here are telling you. 

Click on here for info https://www.stepchange.org/  and please try to understand that people here are trying to help you.

ElizabethRose

I can't imagine at present you've been a mortgage of you can't even pay you phone bill on time and the credit cards are on DMP.

I think you need to review your debt on the DFW board and get a grip of that before any crazy ideas of mortgages. Also taking a loan out for a rail fare is crazy, does your employer not offer a season ticket loan which has tax benefits and no crazy interest rates. If you have to move you're probably better changing jobs than getting into debt travelling there. 

[Deleted User]

goldieandblackie said:

This is just one reason they should teach money management in schools.

They teach it at my school and as far as I can tell no-one is particularly interested/paying attention and what we have learnt so far is the difference between a credit and debit card, a step in the right direction but not exactly prepped for life.

[Deleted User]

MalMonroe said:

RyanHello said:

goldieandblackie said:

This is just one reason they should teach money management in schools.

Even if they did, there would be still be a lot of people utterly useless with money. We've all seen the people on here who get into debt, pay it off and then get into debt AGAIN a few years later. It's like a crash diet, there is no helping anyone.

The only thing that needs to be taught at school is Maths, English and common sense. Everything else falls into place later on.

That's a great philosophy on paper but in reality, common sense simply cannot be taught. It's nous, it's your intuition, it's just THERE in you. It really can't be taught. How to handle money SHOULD be taught, no question. When you think about all the other rubbish that's taught in schools, they could squeeze in half an hour a day to teach people how to cope when they leave school, uni or whatever.

At my school it’s 20 minutes a week, which so far has consisted of word searches and American videos!

[Deleted User]

MalMonroe said:

Henivida said:

MinuteNoodles said:

You can't afford to move, you can't afford a loan, you can't afford more borrowing, you can't afford a season train ticket.

You are skint, you are broke. You can't even afford your current financial commitments because you're failing to repay your debt plan so given you can't even pay that you can't afford more borrowing. You most certainly can't afford a mortgage not that anyone will give you one.

As it is at the moment technically you're bankrupt. Yes, that's right. Bankrupt. You cannot service the debt you currently have, you have no assets to cover that debt.

They are offered us a mortgage already. And yes I can top up my loan because they offered me already. People are using loans to pay off their credit cards. 

The credit cards are up to date only the lockdown period was bad. Since I’m working they are all up to date, but I wanna get rid off them. 

Also, I must move, not because I want we must move and I can’t leave the job as nursery manager so I do need the annual ticket to travel here at least for the following year. 

Thanks for the “advice”. 

How on earth have you been offered a mortgage when you have debt and you don't always make repayments on time? You say you've been offered a top up loan which is absolutely crazy because you cannot afford to pay the loan you already have.

Whoever is offering you all this money doesn't care about the fact that you may get deeper into debt and end up being bankrupt. The worrying part here is not so much that you are in debt, many people are right now but that you are cavalier when you mention missed payments, thus - "I’ve got 3 credit card in a debt credit agency. I’m paying those monthly but I got loads of missed payments. I’ve got a loan which is always up to date! And my phone bill which is got worst due to Covid-19."

How are you going to sort all these debts out, at the same time as taking on even more debt?  This is what MinuteNoodles is trying to say to you. The advice being given to you is sensible. You've asked what people think, and this is it. 

The best advice I can add, if you will consider it at all, is to contact a debt help agency and ask what their adviser thinks. I used StepChange, they give free, expert debt advice - but there are others, including Citizens Advice. It's crazy to go diving into a pool of debt (puns intended) when you cannot manage or control the debt you already have. This is what people on here are telling you. 

Click on here for info https://www.stepchange.org/  and please try to understand that people here are trying to help you.

Totally agree with all that has been said!