no income, big debt, different country

Undersized_Rascal

Hi Nickx
You're right, I can afford the £5, but the min. payment will be £100 plus by july. I've been off work for nearly a year due to illness. I no longer live in the UK, my income is from benefits is around 800euro p/m. I won't get a loan in ireland or UK.
I'm a ninja....no income, no job, no assets,


I could pay the £10 over the next two months but then i will have to default.
I don't think I'll be working again until sept 2009

jimbo26

In July you could try contacting MBNA and ask to come to an 'arrangement' to pay off the balance until you are back in work. A word or warning though MBNA are f***ers to deal with and it won't be easy. I suggest you get some assistance from the CCCS.

Undersized_Rascal

jimbo26 wrote: »

In July you could try contacting MBNA and ask to come to an 'arrangement' to pay off the balance until you are back in work. A word or warning though MBNA are f***ers to deal with and it won't be easy. I suggest you get some assistance from the CCCS.

CCCS will only deal with me if Im in UK.......MABS (Money advice and budgeting service) in Ireland don't kno hoe the uk system works

NickX

jimbo26 wrote: »

In July you could try contacting MBNA and ask to come to an 'arrangement' to pay off the balance until you are back in work.

This does sound like your only option.

They WILL negotiate if you push them. They would rather get "something" from you than nothing at all, so they will work out a repayment plan, but please don't expect them to make it easy for you. You will have to send them details of all your incomings and outgoings to justify the payment amount that you agree upon.

Its definitely worth getting some advice from a debt counselling agency. As I have previously indicated CAB (Citizens Advice Bureau) are good in the UK.

Also, if you post on the DFW (Debt Free Wannabee) board here, there are many people who have beaten debt problems and will be able to give further advice.

As long as you don't just ignore the problem then a solution can be reached.

Good Luck

JimmyTheWig

Undersized_Rascal wrote: »

my payment is due in 9 days time, should i make one or default now?
My 0% comes to end 1/07.......

If you default, your 0% period will come to an end now. Why waste those 2 months of 0%?
Pay the fiver.

NickX

JimmyTheWig wrote: »

If you default, your 0% period will come to an end now. Why waste those 2 months of 0%?
Pay the fiver.

Definitely agree with this - Good Point !

Undersized_Rascal

NickX wrote: »

Definitely agree with this - Good Point !

Thank you guys.....
Well, I made the minimum payment, I had cancelled the d/d
When i was Logged in I saw that my BMI card was saying call us for a BT offer....which I will do in june so that I can Xfer into my current a/c and then pay off the A&L......i'll still have debt but will be interest free....

I have a £1000 interest free overdraft which runs out in aug but it's not in use ( i owe nothing)
I also have a cap. 1 classic card which is £6 in credit

I can't apply for anymore credit because I'm out of work and will be for at least another 15months ( might work for 1 month)

I'm not going to lie on any application forms, plus I've no address in UK

Thanks guys

NickX

This is good news - you can use the promotion on the BMI card and your interest free overdraft to get you through once the MBNA deal comes to an end.

Transfer the debts across before the promotional rate ends, this should put you in a good negotiating position with MBNA for a repeat deal.

I feel all is not lost here and with some juggling you can avoid damaging your credit rating.