£11,500 in debt..enough of living borrowed life.pls help

nadnad

Yes about the credit cards - firstly ring the ones with the balances and say you will probably want to cancel them when the 0% runs out - tell them you have other lower rate cards to transfer the money to- in doing this you may get an offer from them - to make you stay - even if not 0% then hopefully at least a lower rate than the original.

See how you get on with the Monument one and the Halifax one - they run out next month.

If you get no joy from them then phone and cancel the ones with no balance on them i.e. Capital 1, Citicard, Mint and Barclaycard - ask if there are any offers they can give you e.g. 0% or a low rate.

You need to narrow done the amount of credit cards you have - the more you have the worse it looks for your credit rating. Also the sooner you get rid of them then the sooner you can avail of new offers for new customers that these cards may bring out.

Basically you need to get yourself into a position where you have as few cards as possible on as low a rate as possible.

nadnad

I've worked out you have about 14 months remaining on your loan (I think). The major worry at the minute is to keep control of the credit cards before the interst rate really messes you up.

nadnad

see this thread for people who got offers with their existing credit card companies http://www.moneysavingexpert.com/creditcards.

Alleycat

So basically when you move out you will be earning £950. I've been extremely generous to you with amounts, but say £200 rent, £65 council tax, £30 gas & electric, £20 water to take off per month. Doesn't leave you with much extra! I assume your wife will still be feeding you?? I've not even taken into consideration the money you spend on transport, telephone, internet etc.

You will also need to be careful that you don't get 'shopped' to the benefits dept if you 'stay the night' at your wife's house too often. I'm sorry but I agree with nadnad that this sounds a bit like fraud. I don't know too much about that sort of thing, but if you do decide to do this you will need to be careful.

Good luck with sorting out your debt, I'm trying to get a handle on mine as well.

Alley

alykhalil

nadnad wrote:

right so when you're geting £950 what will your outgoings be - what will your rent be? utilities etc? I don't necessarily agree with what you're doing because its sort of fraud but there you go. I don't see why you can't live with your girlfriend and earn £950 - you'd still get tax credits - I worked out that you'd get about £4175 per year tax credits which is nearly £350 per month. Which added on to your £950 is £1300 which is £15600 after tax per year - I think thats reasonable to live on. Do you not think it unwise to separate - you will be paying 2 household bills, 2 rent etc. It doesn't make much sense.

To be blunt I don't know whether I believe that you're telling us everything - obviously your girlfriend knows about your debt or she would be wondering why you are moving out. I'm not suggesting that she pay for your debt but if you work together then it will be easier for you. The wisest solution here is to stay together and for you to work more hours.

If you tell us what your rent etc will be when you move out then it will make things easier.

I have never ever been so truthful on the internet. after saying all this i was even going to leave a thread about changing my user ID. i aint lying. so you think its a fraud ? right. you are right mate. i am not sure if you are married or not but what you guys (probably) did not realise in so many years of living in UK, i have learned in just 3 years...does the country we are living in support married couples....no it dont ! a sigle mother living with a child not going to work, gets more help from the govt. than a married couple does. atleast i know someone like that..single mother, well fit to do a job but cant bother, 1 daughter, counsil flat, no rent to pay and getting £96/month. WOW ! thats almost my wages !

if i move out i will be paying £230-260 rent + i am so sure i would work worth taking home £900-1200/month, remains food which my wife says she will support...you see. trust me, if living together and working the most hours got us the samne money, WE BOTH wouldnt have decided about living apart.

alykhalil

nadnad wrote:

Yes about the credit cards - firstly ring the ones with the balances and say you will probably want to cancel them when the 0% runs out - tell them you have other lower rate cards to transfer the money to- in doing this you may get an offer from them - to make you stay - even if not 0% then hopefully at least a lower rate than the original.

See how you get on with the Monument one and the Halifax one - they run out next month.

If you get no joy from them then phone and cancel the ones with no balance on them i.e. Capital 1, Citicard, Mint and Barclaycard - ask if there are any offers they can give you e.g. 0% or a low rate.

You need to narrow done the amount of credit cards you have - the more you have the worse it looks for your credit rating. Also the sooner you get rid of them then the sooner you can avail of new offers for new customers that these cards may bring out.

Basically you need to get yourself into a position where you have as few cards as possible on as low a rate as possible.

sure..will do that tomorrow morning itself and willgive you a shout. i am determined now and need to sort this borrowed money out...

alykhalil

Alleycat wrote:

So basically when you move out you will be earning £950. I've been extremely generous to you with amounts, but say £200 rent, £65 council tax, £30 gas & electric, £20 water to take off per month. Doesn't leave you with much extra! I assume your wife will still be feeding you?? I've not even taken into consideration the money you spend on transport, telephone, internet etc.

You will also need to be careful that you don't get 'shopped' to the benefits dept if you 'stay the night' at your wife's house too often. I'm sorry but I agree with nadnad that this sounds a bit like fraud. I don't know too much about that sort of thing, but if you do decide to do this you will need to be careful.

Good luck with sorting out your debt, I'm trying to get a handle on mine as well.

Alley

no...all i will have is the rent to pay which will be in a shared house where the electricity, gas, C tax is all included . all i will be paying is £230-£260 as rent which is all inclusive.

nadnad

ok so you're sure about moving out - you're sure you'll be better off? Have you hecked out all the options? How much will your girlfriend get when you're there and working say 50 hours and how much when you move out - if the difference is more than the extra you'll be paying renting out another room then fair enough. But seriously I'm not being critical - but can I just say that I don't think that you should come to another country and then complain about the government system - its obviously better than where you're from or you wouldn't be here. I know its not perfect but is anything?

Anyway get on and try and sort out your credit cards and good luck with that. But on looking at your figures it still doesn't ad up:-
Rent: £260
Maintenance for family: £300
Mobile £35
Petrol £55
Miscellaneous: £50
Credit cards and Loans: £245
Total: £945

Thats without food, insurance for your car, clothes, tax for car, and thats with the MINIMUM payments and no interest on credit cards. You're a bit stuck - sell the car,and maybe send £100 less abroad for a while - that will help a little - I think you need to get another job on top of the one you have - if you get rid of the car and pay less that leaves you paying £890 per month - still without food and clothes/ other essentials. So you'd probably break even doing that.

If you got another job - say at the weekends or evenings - wherever you can - Tescos, factory wherever if you worked even enough to get an extra £50 per week - that £200 per month - you could plough this into your credit cards. I really think its your only way out. If you did this and stopped paying your family abroad -even for a few months you would have £500 extra a month and could have your Monument card paid off in 6 months. At the end of the day if you continue like this you aren't going to be any use to your family at all - you'll end up bankrupt.

Alleycat

Now, I'm sorry if this sounds harsh, but why are you expecting the tax payer to owe you a living? At the end of the day, you criticise a single mother who is not working for getting benefits, yet you are only working part time? There are two of you to raise your children and she is coping alone. The benefits system is there to help those who are on a low wage/out of work and struggling (I know its not infallible, but thats what its supposed to be there for) NOT to be cheated. At the end of the day, you racked up £11,500 worth of debt and it should be YOU not everyone else that has to pay it back. You will get outstanding advice on these boards, but not if you intend to defraud the system.

Most people struggle with their bills, would love to have more money in their pockets, but go about it legally. I have an 8 month old daughter and went back to work part-time, my partner works full time. We get Child Tax Credit and Child Benefits. We do not own our own house as we cannot afford to and my partner earns the same as you would if you put the hours in.

If you really need the help and advice this board has to offer, I would suggest putting down both your wife and your joint income and expenditure and people can help you whittle it down to enable you to begin paying off your debts, rather than perpetuating and increasing your debt even further.

I really do hope you can sort things out and begin to make a dent in your debt.

Alley

alykhalil

all you peopl are right, its just not me who complains about the system. people wouldnt be stupid enough to goto prison for 7 days just coz of not paying £50 counsil tax.

NO, you are wrong i am th 1st one who will live on my hard earned income than take support from the govt. as it is what the govt. is doing is a lot but its the matter of justice. I aint critising the single mothers, i just mentioned the truth.

Anyway, about to call my credit card companies to sort thing out.wish me luck. Apologises if i said anything wrong.