Tiny's debt battle

[titch]

So I had a clear credit card n everything this time last year. Now its just in a hurrendous state. So Ive made myself face up to things and take control.

Ive managed to get a 0% balance transfer deal until sept 2011 with egg so Ive taken that up, but they put a limit of £950 balance transfer. So Ive done that and set the account to take the minimum payment only each month by direct debit, so Im gonna forget about that, cos there wont be any interest the debt can just sit there while Im on mat leave.

Ive cashed in an ISA I have (shouldve done it ages ago) but its 30 day notice, wont get the money until august, and it WILL go straight onto my credit card.

My mum owes me £181 and I just rang her, shes gonna ring me tomorrow when shes online and transfer it. Im gonna ask her to make a straight payment to my credit card. OH owes me £250 STILL, I havent asked him for it cos he paid for my MOT yesterday and Im scared Ill rock the boat But I will get that from him.

Then after all of that, Ill have debt on my credit card still oh and Im currently £700 into my overdraft with payday 2 weeks away.

So Im gonna set up a standing order for £200 per month to my credit card so that should be gone within 6 months, but Ill prob be living in my overdraft for the whole of my mat leave. It'll be a really tight squeeze, Im gonna have to make out to OH that Im taking home less than I actually am so that he gets used to paying for things!

This all makes me feel sick, which is why Ive buried my head in the sand for so long. Its just so easy to get into debt when you buy a new house and have a baby! Stupid doing both in the same year!!!

 

[vixforever]

Aww tiny - don't worry Hun! You sound like you're working it all out some of my debts I'm paying off a pound a week silly I know xx

 

[titch]

debt is such a horrible thing isnt it. I worked so hard to get out of debt by last summer. I was so proud of myself, it took years, now I just think Im back ot square one!!! I really am gonna get on top of things though. Im considering cutting up my cards...eek! Maybe Ill just give it to OH to look after, worked last time!

 

[AugustMum]

To be honest, you've done the best thing by working it all out and knowing what you're working with. Im a firm believer that with money, ignorance is not bliss. Im £2000 into my overdraft (student account so interest free) and I could have increased it by another £1000 for my final year but refused. Im desperate to get back in the black.

Little by little you'll get there You just get the joys of budgeting! lol x

 

[vixforever]

debt is such a horrible thing isnt it. I worked so hard to get out of debt by last summer. I was so proud of myself, it took years, now I just think Im back ot square one!!! I really am gonna get on top of things though. Im considering cutting up my cards...eek! Maybe Ill just give it to OH to look after, worked last time!

Maybe cutting the cards is a good thing!?!? It was Kays catalogue that got me in debt when I moved the only place that would give me appliances on credit with 'affordable' repayments

 

[Piglet10]

debt is crap.... we live on v v tight budget and other than my gran and car loan we have no debts now i got rid of everything ... cos its 2 easy to spend.... so hopf this time next yr gran b paid aqnd 2 yrs car b gone xxx

 

[titch]

ah well done Lisa. its trying to get the debts somewhere without massive interest fees too isnt it! This time next year I plan to be debt free!

Im looking into selling a little piece of my land so next doors can use it as a drive. Gotta contact an estate agent to find out how much its worth, Im hoping its 4 figures rather than 3!!! that would be the answer to my prayers!

 

[Lilelephant]

hun i live in overraft an we ow about £10000 in creit cards, but we are slowly paying it back and getting back on our feet, we spoke to the credit card companies and we agreed to make a set monthly payment and they froze the interest which was good. i blame the wedding

 

[flexilexi394]

I've managed to max out my credit card, and can only afford the minimum payment every month, and I think that's just paying the interest! I've asked the bank to close the account and freeze the interest so glad they did that. Just trying to find money to blooming pay it back! So annoying! Really should not have forthe thing in the first place. We are all in a similar situation so try not to worry about it! I just try and get on with it, and just make the minimum payments. X

 

[titch]

ooh thats interesting to hear of cases where the banks have frozen interest. Im gonna try and stick to my own plan and see how it goes. But then again, think how much money Id save if they froze the interest! Thats why I was looking for a 0% balance transfer but they wouldnt take the full amount

 

[ERIN84]

Debt sucks

We would be VERY comfortable if we didnt have 2 loans that we have got. Saying that, the last payment on one is next month! Thats the smaller one though....Sods law!

 

[Zazu]

Debt is pants!

Sounds like you have a good plan to clear your debts - hope you can do it xxx

 

[ema-lou24]

its good that youve not sunk your head in the sand about this tiny, your taking action to help yourself out, well done!

i dont have any credit cards etc, but im massivly in debt cos of my ex, he used to get over the phone loans in my name as soon as i turned 18, so i was doomed before i even started!
Lucily i have the trading standards involved, i pay back the minimum every week and im awaiting to go bankrupt as its the best option for me, cos in 3-5yrs i will be debt free and can start again...not the best way to go, but its all i can do cos of that aresehole.

but like i said, well done hun, and get that man of yours to dig deep more often!! x

 

[titch]

Oh thats awful Ema! At least for my debt Ive got my house furnished and carpeted and stuff for the baby. That must be horrible having debt which you didnt even get to spend! My brothers ex wife did this to him too. And they had a joint overdraft which she refused to contribute to after they broke up so my parents lent my brother the money to clear it then he paid themback interest free, the bank were threatening bailiffs and my brother had moved back home! But do you know what that cow did. She got their joint card and bloody drained the overdraft again. The bank didnt wanna know when my bro went in to explain what happened. So my parents ended up giving that cow 2 grand...as if she hadnt taken enough already.

 

[ema-lou24]

yeah this has happened to my OH. he was with his ex for 8years, had a mortgage, joint accounts etc, then she buggered off, cleared the accounts and left him with a £105grand mortgage, no money and debts with council tax etc.
He cancelled the joint account and paid it back, hes paying half of the counvil tax and refuses to pay her half, so the council are chasing her for it and hes had the house reposessed. She refused to let him sell it and wouldnt sign over her half, so the only option was to get it reposessed since she wasnt helping herself, now that its been to court etc she NOW wants to sell it cos she realises that if she just signed it over to him, then she wouldnt be in debt, she seriously thought that if she signed it over she wouldnt get any money, she isnt anyway!! total bitch!! but its all too late, the house no longer belongs to them.

When she realised he was going down the reprosessed route, she started saying you cant sell "my" house, he was like, u havent lived here or paid anything towards the house for 2years!! its NOT your house anymore.

So fingers crossed, thats the end of her now, they had no children together etc, so no reason for her to contact him

im sorry your brother had to go through all that, its really not nice seeing someone u love getting screwed over x

 

[titch]

Good grief there are some nasty people out there eh?! your OHs ex sounds like a right plank tho, she shot herself in the foot really.

 

[ema-lou24]

lol i wish she would shoot herself in the heed!

i keep asking my OH if i see her can i make her bite the pavement lol xx