We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Im in Debt what should i do
bones65
Posts: 69 Forumite
in Credit cards
Hi
Im new here been reading martins tips and decided it time to sort my finances out.
We have a large mortgage which i increased last year by £17k to clear debts unfortuntely i have managed to accue £7500 on a HSBC card i have had for 2 years now. I have got myself in debt due to spending the money on my business venture using the credit card to buy stock and sell online however sales have dropped off considerably.
Tried to apply for a Virgin card but they have turned me down saying that i am already nearly at my limit on the HSBC card and the extra on the mortgage is not helping matters with my credit rating. Have checked the rating site and found my rating to be good never missed a payment etc.
Apart from the mortgage and card loan i have no other debts. except child maintenance payments of £265 per month.
where do i go from here as i was told by the girl at Virgin everytrime i apply for a new card the search effects my credit rating.
I have my mortgage advisor coming over soon to discuss new deals and possibly an interest only option.
Im new here been reading martins tips and decided it time to sort my finances out.
We have a large mortgage which i increased last year by £17k to clear debts unfortuntely i have managed to accue £7500 on a HSBC card i have had for 2 years now. I have got myself in debt due to spending the money on my business venture using the credit card to buy stock and sell online however sales have dropped off considerably.
Tried to apply for a Virgin card but they have turned me down saying that i am already nearly at my limit on the HSBC card and the extra on the mortgage is not helping matters with my credit rating. Have checked the rating site and found my rating to be good never missed a payment etc.
Apart from the mortgage and card loan i have no other debts. except child maintenance payments of £265 per month.
where do i go from here as i was told by the girl at Virgin everytrime i apply for a new card the search effects my credit rating.
I have my mortgage advisor coming over soon to discuss new deals and possibly an interest only option.
January 2011 £24,000 Debt
February 2014 £8141 :j
June 2014 DEBT FREE ALL LOANS PAID OWE NO ONE :beer:
IT CAN BE DONE
February 2014 £8141 :j
June 2014 DEBT FREE ALL LOANS PAID OWE NO ONE :beer:
IT CAN BE DONE
0
Comments
-
Go on the debt free wannabe board and post on there. Helpful if you give details of your debts, and you incomings and outgoings. You'll get loads of help.0
-
i second that and good luckDFW NERD....560
:hello: hello everyone
Mai`ch a**e chwytha i fyny ai ach`n frwnt ata!!!:p0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards