Please help i can't sleep for worrying

kpey

Ah I see! Should have asked that ages ago really!

lostalot

Hi, just had a look at my credit card rates
Lloyds Tsb owe £10240 (over limit by 240) apr says 2.20 per month so not sure but very high around 29% yearly i imagine

Asda card £1500 at 0% til july and £1500 at 16.8 %
Tesco card £3000 at 15.9 %

kpey

OK re: the Lloyds TSB card - v high I just realised my Barclaycard was 21.4%. Called them and threatened to leave and they reduced to 6.9% which is as good if not better than a lot of the loans on the market at the mo. Not sure if this is the best option for you as people are mentioning the CCCS route - but why don't you call them and try that anyway if you don't get a DMP in place your interest charges monthly will reduce greatly and your payments will start taking chunks off your debt.

stapeley

There are bills you must pay first , council tax , mortgage,electric ,gas etc. leave the c/c and unsecured loans, to last , and only pay what you can afford . If you were taken to court for defaulting on these ,it would be ages away from that . A court wouldn,t order you to pay what you cant afford !.
Are you on good terms with the bank ? Try ringing them ask if you could change the payment date , they would have no problem putting the payment date back a couple of weeks .

lostalot

I have a problem if i dont pay my Lloyds loan and credit card as i bank with them aswell. I was told that if i fail to make the minimum payment on my credit card that they can take it out of my account anyway,so i have tried to keep paying but cant anymore. As i have gone over my max limit a few times i dont think they will decrease my APR either. I asked the bank for a payment holiday which they have done before on my loan but because i went over on my credit card they said i would have to have 6 month without going over my limit on card before i could have a holiday from my loan. They have got me all ways really

stapeley

Have you another account you could use ? Like a building society?

lostalot

No unfortunately only LLoyds current account,never had a building society one as i dont have money to save.I noticed when i applied for the Asda credit card they only needed basic info on application online and just total household income. Some other i have looked at want to know earnings and other income. Does anyone know of any other 0% cards who dont want to know too much about income sources as i think i would stand a better chance with them . At least i could reduce the interest on the Lloyds card then

hopeless_case_2

ok lost alot you need to get another bank account at a bank which you owe no money to Try the cooperative or nat west Stepper if your credit rating not brill.Then you need to have any money coming in paid into that account.That way you decide who to pay and what and your creditors cant take anything out unless you authorise it.

edgarjay

hi lostalot, i have just taken this step, i also never had a building society acount but have opned one in last few days with Halifax bank so i can decide who to pay and when.
cccs were brilliant and tell you which debts you need to pay (TV licence, council tax etc)
they also use a briliant line 'no-on can take what you hve not got'.
i am in the process of writing to my creditors to offer a payment i think i can afford and my income is around £1000 monthbut outgoings were £2177.

the guys on here give brilliant advice, i like you had no money what-so-ever from one pay day to next,hoping next month will be different, do try get some sleep you dont need to be ill aswell x

chevalier

If you went full time, would your child tax credits go up to help with the childcare? Could you get childcare vouchers from your employers to help with this too? Are any of the children turning 3 any time soon, so that you can get the 5 sessions free?

Other than that then defo have a chat with CCCS/Payplan as I am sure they will be able to help you with this. Even if it is just someone to chat through so you know what your options are.

chev