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GreenGooner

https://forums.moneysavingexpert.com/discussion/comment/81864984#Comment_81864984

Hey

Thanks for popping by. the clutter is still cluttering, I haven't had chance or the motivation to sort anything out yet. Glad things are starting to become clearer for you.

GreenGooner

Good morning all

Still here, still wobbling, feel really awful about it all tbh but again, there is nothing i can do, I cant physicaly make any payments, even if I wanted to.

So, the debts are as follows:

Amex: £903.12

Barc: £150.65

Capital One: £735.68

Asda: £1507.88

Aqua 1: £1184.71

Aqua 2: £1185.12

Fluid: £2473.29

Vanquis: £4425.26

Zopa: £2453.13

Total credit card debt: £15018.84

Loans:

Credit union: £569.74

Castle 1: £8868 (not including interest)

Castle 2: £9795.95 (not including interest).

Mr Lender: £0 - paid this.

Total loan debt: £19233.69

Total amount of debt: £34252.53

I know my method is to build up some savings and wait for defaults, and then arrange payment plans, however, what is worrying me is the amount of charges and interest I am being charged, as this is obviously making the debt increase. Do I need to contact them? I don't want to make arrangements to pay until default so I'm not sure what to do really. Any ideas?

They are some scary figures. I have cancelled the DD's for the loan payments, so I will have extra to build up some savings next month for any unexpected emergencies. However my first goal is to pay off the credit union loan as that will free up £150/month to put towards other debts and building savings.

The contact hasn't been nearly as bad as I thought, the occasional text/email but that's it so far. I expect that to ramp up though.

1stTimer

Hey

Well done on facing it all, you are in the right place for support but you know that already :-)

I can’t give you any advice unfortunately but there is one thing you may want to check over on the debt free wannabe board. I have read credit unions are different to other debts and you need to tread carefully with them so you should double check you are doing the right thing over on that board. They are amazing with advice and can let you know if there is anything you need to watch out for.

will be following here for support :-)

GreenGooner

ok after doing some research I’m really panicking about the credit union loans now after reading that they prefer to settle through the courts

do people think it’s worth contacting them separately to try and make a payment arrangement?

I’ve been very up and down this month, some days I feel I’m made my peace with it all, and others I feel like I’ve made a massive mistake and lying awake at night worrying.

I’ve not been able to save anything yet as will do that when payday comes around next week.