losing the battle with credit card debt

Superheavy

I know its a horrible thing to have to do, and personally I feel that debts to family members make me feel more guilty than debts to faceless companies, but if your MiL is willing to help you with this then it'll save your credit score and save a huge amount in interest. However much you can put away from benefits and any occasional work you can get has to go into that savings a/c though, and it'll help your conscience too if you have something you can show the MiL that shows your making the effort.

crazydebtman

i sat down and talked to the MiL last night. she has offered me some part time work and to lend me £1000 to pay the current payments off. i am going to speak to the credit card companys to see if i can freeze the interest or something. then the part time work will allow me to pay the MiL and start to eat at the credit cards. i have applied for 3 jobs as well.

i feel so much better. thanks every1 for the help. all i need now is for some agreement with the credit card companys and i'll be back on the straight and narrow.

thanks again

debbiedebt

Try making an appointment with your local Citizens Advice they will help you draft letters to the card companies. Good luck!

crazydebtman

i will do that! thank you

debbiedebt

How are you getting on? Have you reached any agreement with credit card company?

crazydebtman

hi all. this is a different person talking now :j

i had an awful call from amex (the biggest creditor) saying i have to pay the full outstanding balance of £5678 plus a charge of £900 as it had been passed to a collection company immediately. Mymind was in tatters. I went straight to my mum and dad and broke the bad news. after a few f-ing hells and shed tears things got better.

i am so lucky, they have offered to pay the amex bill (which i have pursuaded the company to keep at £5678 with no charge), lend me enough to pay this months minimum payments on the other cards and start a fresh!

they said i dont have to pay them back until i have paid the credit cards off. i have gotten myself 2 jobs and £100 a week will be going to the £#&*£$'s that let me get into this mess. this means that in 2 years, which i now see as a short period of time, i will hopefuly be debt free!! :rolleyes:

YOU GUYS MADE ME DO THIS!! I LOVE YOU ALL!! THANK YOU!!

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Just one question

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When i spoke to the debt collectors, they guy was a complete !!!!!!!. he was saying "how have you spent £10000 in 1 year!!!". and also said that on my application form i said i was earning £63,000 a year!!! when i said that was a complete joke, he said he might have to file it as freud!! i definately didnt put this.
anyway, it made me think. do they not even check your income/job status??
because i was unemployed and wasnt earning much before anyway!!
would i have a leg to stand on if i took them to court and said it was their fault for giving me such a large limit (£5300) without checking me out first???

Anyway, thats just something I would like to look into just purely to get revenge, not to help me get out of my own hole.

THANKS AGAIN!!!!

newmum1

PENNYWISE_3

wow, that must be such a weight off your mind.
I'm sure your parents are glad to help despite the shock!

keep going & soon you will be debt free!

I'm not qualified to comment on the court questions but hope it doesn't come to that. I wouldn't have thought it was in public interest to persue that matter if u are paying them back what u owe but obviously that is only an opinion & not based on any factual info.

GeorgeUK

Hang on a sec - are you paying back the bank or the debt collector?

I'd ask the Debt collector for a copy of the ConsumerCreditAgreement and Deed of Transfer (which shows that AMEX moved the debt on to them). If they refer the debt back to AMEX (as they don't have the CCA) then you can inform AMEX that you are willing to settle the account in full. This way if there is anything nasty put on your credit report you may be able to get that removed.

Please note - this is only what i would do. Doesn't mean it's a good idea.
Hopefully a few more views will come in soon.

crazydebtman

what do you mean? i need to ring them now and pay off the debt. is there anything i should do or ask??