Please help me - Don't know where else to go?

firesidemaid

hi there!

have just read through your thread. well done on the halifax card. i do agree to pay the £1500 ppi money off the mbna card and then throw everything at it for now - use it as your motivation.

another thought i had was, are you still paying into the share scheme? can you either suspend it and/or cash it in to help you pay off your debts? it's no good saving that money when your debts are high.

also, before you think about converting the loan straight away, will OH have to know because his name is on it etc? make sure you have your reason/story straight before you change it. will the loan be going from joint to personal?

Pixie983

Hi Firesidemaid,

Thanks for your post, yes I am still paying into the sharesave scheme. I did cancel one of them a while back but the remaining one has 12 months before it matures and then I get a tax free bonus on top of the savings. If the share price stays where it is now or even drops lower - in 12 months time I will still get about £4000 back however if the share price goes back up it could be much more than that. I pay £100 a month that comes out of my salary before it gets paid into my bank account and my OH gives me £50 a month towards it so it's a joint saving. I have thought a LOT about cancelling this but think it might be worth keeping it as it's only another 12 months. Also I'm not sure if OH will want to cancel it as really it's both of our savings. I don't think I need to worry about a reason for switching the secured loan over to a personal loan - yes it is joint in his name but I know he doesn't like it being secured on the house either so that would be reason enough to move it - plus that I would be paying less and the term of the loan would be shorter.

In search of me - still not talked to OH about it, I do want to wait until I have things in some kind of order (nearly there) so that I can show I have done something about the problem and that I have changed my spending habits. It will definitely go down better this way (I think!!??).

LilDevil

Pixie983 wrote: »

Some good news! I posted over on the credit card board for help with best BT offers with low minimum payments and somebody kindly told me about the Halifax card which is 0% for 13 months with 1% minimum repayments :T.

Where, can I find info on this, just looked on Halifax website and they've only got 0% cards with a BT fee of 3.9%

Pixie983

LilDevil wrote: »

Where, can I find info on this, just looked on Halifax website and they've only got 0% cards with a BT fee of 3.9%

They have obviously increased the BT fee from 3% to 3.9% since Saturday as I applied through their website for the Halifax Plus card. I received the agreement form in the post to sign today and have checked the smallprint - it definitely says 3% BT fee. I've just been onto the website and like you say it has gone up. The 1% still stands for minimum repayments though.

GeorgeUK

Yup, i checked it when Pixie first posted - the amount transferred has a 3.9% 'fee', but the minimum payments on the plus card are still 1%. Have a look at the summary box for repayment details.

If the balance is less than £5 then you must repay the full amount. If the balance is £5 or more, you must repay the greater of 1% of the amount you owe us or an amount equal to the total of any Credit Card Repayments Cover premiums, Interest (or the minimum interest charge), overlimit and late payment fees plus £5.

In_Search_Of_Me

you just have to do what you feel is right ...I just worry about the pressure you are under anyway and that just adds to it - at the end of the day you know your circumstances!

Pixie983

In_Search_Of_Me wrote: »

you just have to do what you feel is right ...I just worry about the pressure you are under anyway and that just adds to it - at the end of the day you know your circumstances!

Thanks. I did feel under immense pressure a few weeks ago however after posting on here again and getting the help & support from all you guys to get myself back on track I feel SO much better now, I can't quite believe it! :T I was feeling sick every day and could not see a way out but thanks to everyone helping me that has gone and I have a way forward now! I will tell OH when the time feels right, and hopefully I will get the support as I am starting to feel confident now that I can tackle these debts! I am thinking of starting a Debt Free Diary on here, I think that keeping track of everything I am spending and getting support on here might help me to stick at it for good this time!

In_Search_Of_Me

hang in there...its so hard being in debt and people generally dont understand the fear, life restrictions etc that it places on you. Just take it a day at a time...