We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Emergency

Hi all, 

So I have been in debt for some time and doing my best to overcome it. 

However the last two months have been tricky, my Dad passed away and I had a lot of expenses before he died, then to top it off my son locked us in the house and I had to change the lock via an emergency lock smith which cost me £750.

So the little bit of savings I was gathering are gone. I am just about able to cover my bills with two weeks to go till my next payday. 

We move house in a month, we have a mortgage offer in hand, so i have applied or taken out any more credit as I know they can run a check. 

However I do have an existing money transfer card zero intrerest with credit available to me. If I was to take a few hundred and pay it back as soon as I get paid in 2 weeks could that be a short term emergency solution or would paying it back still not help me? 

If not what are my options?  
«1

Comments

  • Andyjflet
    Andyjflet Posts: 659 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    If you are waiting to exchange on a mortgage do not take cash advances from a credit card, this is a sure fire way to stop them lending or at least investigate why.
    Best option, get some overtime, sell some household items, use a foodbank for food, last resort, borrow a small amount from family if you really cant survive, if your bills are covered then its just food right? 
    Baby Step 6/7 . £12,874 saved and invested. £47,000 deposit paid on new home DEBT FREE !!!
    Currently Negotiating with HMRC !
  • Do you still have the partner you mentioned earlier this year? If so can they help?
    If you go down to the woods today you better not go alone.
  • Ak400
    Ak400 Posts: 18 Forumite
    10 Posts
    My partner has done a lot already and has their own financial commitment so I can’t ask for help 
  • Did they not contribute to the locksmith?

    Surely if you are both in debt is taking a mortgage on the best idea?
    If you go down to the woods today you better not go alone.
  • Ak400
    Ak400 Posts: 18 Forumite
    10 Posts
    It was at my mums house so I paid for it, she covers a lot and she isn’t in debt she just has commitments she’s taken on for her parents 
  • I still think that taking a mortgage on is the road to disaster if you and your partners financial position is so precarious, remember if you don't pay your mortgage your home is at risk and where are you going to find all the money for the costs of buying and moving?
    If you go down to the woods today you better not go alone.
  • Ak400
    Ak400 Posts: 18 Forumite
    10 Posts
    We pay the rent every month and she has a lot of savings she is ok but my debt is my issue I don’t want to involve her. 
  • You know the meaning of partnership - 2 people working together and sharing.
    If you go down to the woods today you better not go alone.
  • Ak400
    Ak400 Posts: 18 Forumite
    10 Posts
    Mate I get that but it’s a personal choice, I have posted my statement of affairs on another thread woukd be grateful if anyone can help 
  • Andyjflet
    Andyjflet Posts: 659 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    These need merging together moderators?
    Baby Step 6/7 . £12,874 saved and invested. £47,000 deposit paid on new home DEBT FREE !!!
    Currently Negotiating with HMRC !
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.3K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.9K Work, Benefits & Business
  • 617.1K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.