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    • Alibabaras
    • By Alibabaras 4th Oct 17, 9:42 PM
    • 4Posts
    • 0Thanks
    Credit Card Debt out of control
    • #1
    • 4th Oct 17, 9:42 PM
    Credit Card Debt out of control 4th Oct 17 at 9:42 PM
    Hi, I am new to this forum! I need help urgently, I have a credit card debt which has now reached its limit at nearly 14,000 with over 300 a month minimum payment. I have had my card 10 years and over the last 3 years I have got made redundant and had a child with childcare costs that take over half my wages "I work fulltime" but finish early and make up the hours at home as the childcare costs would just take 3/4 of my wages. I go to work for nothing as I started using my card as my income doesn't last each month. I do not know where to turn. I cannot declare myself bankrupt as I'm scared that will try and take the money from the house which is not much and there is still 20 years mortgage on it. I have tried to apply for other cards but have only got offered for 1 which was for 1000 only.
Page 1
    • DCFC79
    • By DCFC79 4th Oct 17, 9:46 PM
    • 31,895 Posts
    • 20,085 Thanks
    • #2
    • 4th Oct 17, 9:46 PM
    • #2
    • 4th Oct 17, 9:46 PM
    Post up an soa.

    An soa is a breakdown of your debts or debt in your case.

    What you mean take money from the house if you go bankrupt ?

    Link in reply number 3 here may be of use
    Last edited by DCFC79; 04-10-2017 at 9:58 PM.
    • fatbelly
    • By fatbelly 5th Oct 17, 6:59 AM
    • 12,341 Posts
    • 9,386 Thanks
    • #3
    • 5th Oct 17, 6:59 AM
    • #3
    • 5th Oct 17, 6:59 AM
    The stoozing site soa calculator appears to be back!

    There are maybe a dozen strategies for dealing with debt. Just because you can't use one of them isn't a particular cause of concern.

    You will however be needing to put your income into a bank account that isn't connected to your debts, so that is your first priority, to protect your income.

    If you can't afford to pay the minimum payment then stop. It's a non-priority debt. We can give more advice when we see the soa (so pleased that one's back)
    • Alibabaras
    • By Alibabaras 8th Oct 17, 5:25 PM
    • 4 Posts
    • 0 Thanks
    • #4
    • 8th Oct 17, 5:25 PM
    • #4
    • 8th Oct 17, 5:25 PM
    Can they ask for money to be taken from my actual mortgaged house?

    • EssexHebridean
    • By EssexHebridean 8th Oct 17, 5:28 PM
    • 8,717 Posts
    • 45,950 Thanks
    • #5
    • 8th Oct 17, 5:28 PM
    • #5
    • 8th Oct 17, 5:28 PM
    Rather than worrying about that, deal with the practicalities - so get that SOA done and posted here and let's take a look and see if we can help you get sorted, shall we? At the moment you're focusing on the question of the house rather than looking at ways of tackling the problem.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 1229.00/982.19 (04/06/18)
    SOA Calculator for DFW newbies: SOA Calculator
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