credit cards

whiteone

hi i am new to this so hear goes i have got 2 credit cards one for £4250 the other for £5500. I have managed to make one payment on one this month but not on the other i have never missed a payment before this is the first time should i phone the compony up and tell them i am having problems paying and can only make a small payment soon or would it be better to go to cab to see if they can help i am a housewife and dont have much income please help dont no what to do. my partner doesnt no.:o

poorandindenial

First off, get in touch with the company and explain that you are struggling this month. You can go to the CAB about your debt more generally, this would be a good move (either them or any of the people listed here: http://www.moneysavingexpert.com/loans/debt-help-plan#help

Then it sounds like you are struggling more generally, so the first thing we need to offer advice on here is to know what sort of shape you are in financially.

To help us understand this you need to post a list of all of your income and expenditure (often called a SOA). There are templates for this, see the sticky at
the top of the board.

Well done for posting, carry on and tell us more about your situation and you will get lots of decent, non-judgemental advice.

You might get told to tell your other half, this is entirely up to you and some people feel better if they tell them immediately, others feel better if they have a plan to get out of the situation before they tell them and others never tell their loved ones. Whichever route you choose make sure you do what is right for you and your sitautaion.

Take care and all the best for getting this sorted.

whiteone

i have £89 family credit and £30 family allowence a week my partners income is £200 a week and £46 working tax credit a week our out goings are
£67.25 rent
£25 coucil tax
£127 loan a year left to pay
£57 loan
£33 water rate
£120 gas and electric
£40 phone braordband and tv (3 4 30 )+phone calls
£45 sky
£10 tv licence
£17 car insurence
£110 credit card made min payment
£143 credit card not payed yet
£25 petrol a week
£22 catalogue
i think this is everything a part from food and day to day living hope you can try and help the credit cards are more of a problem than anything else

rayday2

I think first thing you have to do is tell your husband. Whatever steps you take to clear the card with the CAB or any debt charities will financially impact him, so he may prefer knowing and helping you sort things out.

whiteone

is there any other advise with out telling my partner he gets realy depressed about money he has only just gone back to work after a long illness.i have been so stupid with the credit cards feel realy bad.

rayday2

Its your call but if you don't tell him and go on a payment plan you will effect both of your credit ratings and he could find out the hard way. ALso they will probably pass it onto debt collecting agencies which may frighten him more if he has no idea there is a problem.

Its entirely your decision the CAB, National Debtline and Payplan will all help you out. If your credit cards are related to your current or savings accounts you will also have to change your bank accounts so you probably could have to tell him.

whiteone

thanks for your advice the credit cards are in my name nothing to do with my partner would it still effect him

rayday2

Yes because you live together you are financially joined. And if you have a joint current account that is related to any of the credit cards they can and will eventually take funds out to pay them its in the small print of the terms and conditions.

I don't mean to frighten you I am on a DMP and it was the best thing I did but I had to do it with my partners knowledge as it effected him too.

IWantToBeFree_2

One thing that strikes me is that it appears you are paying for Virgin Media and Sky which comes to a massive £85 a month, you should cancel one, or both, or at least reduce them to the minimum level if you are struggling to make ends meet.

IWantToBeFree_2

rayday2 wrote: »

Yes because you live together you are financially joined. And if you have a joint current account that is related to any of the credit cards they can and will eventually take funds out to pay them its in the small print of the terms and conditions.

I don't mean to frighten you I am on a DMP and it was the best thing I did but I had to do it with my partners knowledge as it effected him too.

I thought you were only financially associated if you had bank accounts/credit cards/loans/mortgages etc in joint names?

rayday2

There addresses will most definately be linked and show on credit reports until someone leaves (this is theory!). Also if they have ever signed anything together that is any sort of agreement they are linked. So chances are a couple living together will be linked unless they have been very cautious not to sign anything together.