Sponsor Message:
Non Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Debt Problems  
User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Posted (7 years 9 months 3 weeks 6 days 5 hours ago) and read 2160 times:

Ok, I wasn't sure wether or not to post such a personal issue on an internet forum. But sometimes I know its good to get advice from 'strangers'. Ok so here is my situation. Currently 75% or my earnings go straight back out my wage at the start of every month. I'm not a home owner. I have a car which takes up 35% altogether. 2 credit cards, 1 loan and a few other direct debits occupy the rest of my outgoings. Socially i'm quite active and this month is due to be busy with birthdays and such coming up. Now this might sound like i'm just unlukcy or silly that I have so much but its really getting me down at times. I try to pay of as much as I can on my cards. Incidently I took the first card to buy my 350D but I ended up racking up the debt and then transferred the balance to a card with 0% for 12 months. Then i've managed to put over £1000 on my original card as well.

So what i'm asking, or hoping to find out is, has anyone else been in the same situation? Or currently is? My other problem is I want more camera gear but keep having to fight myself not to buy them on my cards.

I hope you can understand the nature of my problem.

Regards
Colin  Sad

115 replies: All unread, showing first 25:
 
User currently offlineSkidmarks From UK - England, joined Dec 2004, 7121 posts, RR: 55
Reply 1, posted (7 years 9 months 3 weeks 6 days 5 hours ago) and read 2157 times:

Colin,

Many people, including myself continually have similar problems. Despite every good intention you nearly always end up overcooking your cards and theres always bloody something needs buying/repairing/paying.

I currently have a monumental credit card bill which I have to pay off. And my salary is completely taken up with my mortgage. This will last another 4 years until the loan we took out is paid. If it wasn't for my air force pension I would have no money whatsoever. And my wifes money (which isn't great)

So, put your camera plans on hold, try and budget properly, cool the piss-ups and see how it goes. Big grin

Andy  old 



Growing old is compulsory, growing up is optional
User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 2, posted (7 years 9 months 3 weeks 6 days 5 hours ago) and read 2148 times:

Morning Andy,

Cheers for that. Chilly over there this morning? I always think to myself, well if I buy this I can just pay off £20 a month on this card. But I guess thats the nature of the beast! I will be cooling the piss-ups. Hangovers ruin my weekends more and more each time.

And as for buying a home, don't want to go there. Its absolutely crazy at the minute for house prices here.


User currently offlineRichardPrice From , joined Dec 1969, posts, RR:
Reply 3, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2138 times:

Been there, in 2001 I owed nearly £10,000 on unsecured credit. At one point in that year my outgoings were 150% my incomings, so you can see I was in the sh*t big time. I was doing what you have done - switch cards and then rack up the old card again.

It was the charges that screw you - miss a payment, you get charged, get a payment bounced by the bank, you get charged directly from your account and your available goes down. It was a lose/lose situation.

So I sat down one day, rang up all my creditors and said 'Look, this isnt working, if we dont do anything then the only way out is bankruptcy, lets make a deal k?' and they did. They wanted their money, but they were willing to take less just to get some.

Only one was a pain - HFC (they actually said I shouldnt pay anyone before them...)

5 years later, my out goings on credit payments are less than £150 a month, my credit report is healthy again and Im good to go.

There are ways out, I just got caught before the current upswing in official help - get in contact with your local Citizens Advice who will put you into contact with a couple of Government backed debt groups that will help you deal with your creditors and get something sorted. This is a reaction to all those debt agencies that didnt actually do anything (Bainst and Earnst comes to mind, no official capacity and they didnt actually promise anything for their monthly fee) and its definitely a positive step.


User currently offlineSingapore_Air From United Kingdom, joined Nov 2000, 13738 posts, RR: 19
Reply 4, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2133 times:

Obviously reduce your social expenses. I delay birthday presents by as much as seven months (although this is due to not being able to choose which present to buy rather than financial circumstance). Try reducing your alcohol intake.

Be a rate tart. Fool.co.uk can help you find one. Nowadays the stupid companies make you pay a handling fee of around 2.5%. Remember that while it's 2.5% that you have to pay, you are getting 0.0% interest free on balance transfers for x months (try for 12 or more). All the time you just have to pay in monthly at least £5.

The car you can't help.



Anyone can fly, only the best Soar.
User currently offlineSkidmarks From UK - England, joined Dec 2004, 7121 posts, RR: 55
Reply 5, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2133 times:

Yeah, the house prices are one reason I'll not move back across! That and the tax laws here. Big grin

Fine and sunny this morning, lovely picture weather. Took some shots of the harbour on the way into work. Big grin

Never think "I can just pay £20" 5 of them and you are paying £100! It doesn't take long.

Good luck Big grin

Andy  old 



Growing old is compulsory, growing up is optional
User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 6, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2130 times:

Quoting Singapore_Air (Reply 4):
The car you can't help

Thanks guys, really appreciate the response. The car I can't help. Its on hire purchase. I have 16 months left for that. I tried to get rid of the car and go to two wheels which insurance wise and overall was much cheaper. But my contract with Ford wouldn't let me out without paying a large fee.

I am actually pretty good at keeping an eye on my money. I know what comes in and what goes out and what i'll be left with each month.


User currently offlineVHVXB From Australia, joined Apr 2006, 5523 posts, RR: 18
Reply 7, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2122 times:

Quoting Skidmarks (Reply 5):
That and the tax laws here.

ohh do you have favourable tax rates in the Isle of Man?

Quoting Linco22 (Thread starter):

Cancel one of the Ccards that will reduce some of your problems. Try to use public transport if it is a cheaper option and try to distribute your money accordingly


User currently offlineSkidmarks From UK - England, joined Dec 2004, 7121 posts, RR: 55
Reply 8, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2116 times:

Quoting VHVXB (Reply 7):
ohh do you have favourable tax rates in the Isle of Man?

Oh yes Big grin

10% basic rate, rising to 18%. Generous allowances and mortgage/loan tax relief. Unfortunately, unless you are rich (which I am most definately not!), the cost of living is much higher than on the mainland. So, swings and roundabouts really.

Now, when I win the lottery.................... Big grin

Andy  old 



Growing old is compulsory, growing up is optional
User currently offlineRobertNL070 From Netherlands, joined Sep 2003, 4532 posts, RR: 10
Reply 9, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2109 times:

Quoting Linco22 (Thread starter):
Now this might sound like i'm just unlukcy or silly

A little spendthrift maybe. Young people like you want to go places, see things, meet people, buy nice stuff, and this all costs a lot of money. Because public transport in the UK isn't too good, you also need a car to most of these things (not the piss-ups I hope!)

Then the credit card companies/finance companies make it all so temptingly easy with their promises of 0% this and easy payments that. Buy now, pay in 2008. And once you're hooked, they turn the thumbscrews. Bastards. How much is APR at the moment? Here in NL companies are limited to a maximum, IIRC 16%.

My opinion, it is your own fault Linco, but, and its a very big but, how these credit companies act is totally irresponsible, bordering on the criminal in my mind.

But my opinion won't help you. Can you not go to a Citizens Advice Bureau and maybe with their help secure a cheaper personal loan from one of the more reputable banks? Then you can pay off your debts with the one loan, pay that off bit by bit and still have some 'pocket money' for piss-up now and then.

Luckily I have never fallen into this trap, but I know plenty who have, including my sister. Anyway good luck Linco. Keep us posted from time to time.

Robert  bouncy 



Youth is a gift of nature. Age is a work of art.
User currently offlineVHVXB From Australia, joined Apr 2006, 5523 posts, RR: 18
Reply 10, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2109 times:

Quoting Skidmarks (Reply 8):
Oh yes

10% basic rate, rising to 18

ohh a flat tax rate kind of sucks. If you live on Norfolk Island down here there is not tax whatsoever though there is not much of a living you can make off the Island apart from tourism. Though you can find loopholes in the tax system here without getting into trouble

Quoting Skidmarks (Reply 8):
Generous allowances and mortgage/loan tax relief.

Now this is good  thumbsup  Increase a person chances of owning their own home


User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 11, posted (7 years 9 months 3 weeks 6 days 4 hours ago) and read 2102 times:

Quoting RobertNL070 (Reply 9):
My opinion, it is your own fault Linco

Couldn't agree more. I know its my fault. But to be honest, if I didn't get myself into debt i wouldn't have a car, and all my luxuries. I'd probably have wasted it on something else. Which is probably my problem.

My current APR on one card is 22.3% (up from around 15% and don't ask why this has happened. I got a letter to say it was going up blah blah blah) and 16.9% on the other card. Total balance at the minute is around £3200


User currently offlineRobertNL070 From Netherlands, joined Sep 2003, 4532 posts, RR: 10
Reply 12, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2094 times:

Quoting Linco22 (Reply 11):

So you are paying something in the region of £60 a month in interest alone  eyepopping 

Wouldn't one big single loan approximately halve that?

Robert  bouncy 



Youth is a gift of nature. Age is a work of art.
User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 13, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2088 times:

Quoting RobertNL070 (Reply 12):
Wouldn't one big single loan approximately halve that?

Well last month I paid about £14 in total purchase interest. But one card is £23 next month and the other will probably be about £10/15. I'm sure it will rise every month even if I buy nothing.

I applied for a loan about 5/6 months ago and it didnt go through. My credit rating is good though.


User currently offlineVHVXB From Australia, joined Apr 2006, 5523 posts, RR: 18
Reply 14, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2083 times:

Quoting Linco22 (Reply 13):
Well last month I paid about £14 in total purchase interest. But one card is £23 next month and the other will probably be about £10/15. I'm sure it will rise every month even if I buy nothing.

Are you only meeting the minimum repayments for each month?


User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 15, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2079 times:

Quoting VHVXB (Reply 14):
Are you only meeting the minimum repayments for each month?

I used to. Sometimes I had no choice. But I try to pay a bit more than the minimum. With one card its only slightly more and with the other its twice the minimum or more. I'm hoping to increase that. I spent almost 2 years going overdrawn in my bank account but now i'm out of that only last month. So hopefully i'll be able to throw more money towards to the cards


User currently offlineOly720man From United Kingdom, joined May 2004, 6689 posts, RR: 11
Reply 16, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2075 times:

Quoting Linco22 (Reply 11):
My current APR on one card is 22.3% (up from around 15% and don't ask why this has happened

All the card companies have recently racked up their APRs because they have been forced to stop charging the £25 for not paying the minimum each month. It's now "only" £12.

I'm in a similar situation to yours, but that's because my wife stopped work to have kids so the family income effectively halved... and too poor to be rich, but too rich for all the benefits that some other people seem to get. We've been informed that the child tax credits have been overpaid so we're getting nothing next year. B@st@rds.

And so, no holidays for over 3 years.... no "toys", no going out.... etc... etc.. and buying as little as possible on the plastic. Amazing the amount of money that goes on nappies, wipes, creams, baby milk, etc and has been since March '03 when baby #1 appeared.

To save money....

If you have payment protection on your cards then it's probably a good idea to cancel it. Expert opinion says it's next to useless and there are cheaper ways of doing it, allegedly.

A(nother) loan may reduce the repayments, even though you may be forced to have their payment protection. Loans at the moment are around 7%APR whereas the cards APR are more than double that.

But, basically, if you can't afford it, don't buy it. Beware the party season. No point digging deeper holes for yourself just because.



wheat and dairy can screw up your brain
User currently offlineVHVXB From Australia, joined Apr 2006, 5523 posts, RR: 18
Reply 17, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2069 times:

Quoting Linco22 (Reply 15):
I used to. Sometimes I had no choice. But I try to pay a bit more than the minimum. With one card its only slightly more and with the other its twice the minimum or more. I'm hoping to increase that. I spent almost 2 years going overdrawn in my bank account but now i'm out of that only last month.

That sounds alrite. At least your making effort to get rid of this debt as quickly as you can and I hope you can get out of it very soon.  Smile


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 18, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2069 times:

Debt consolidation can be a good idea, if you know what it is you're doing. The truth is that you it's going to cost you more in the long run if you do it, but if you are aware of that, and accept it, it can still be beneficial to get your finances on an even keel. Where it is a real problem are all the debt restructuring companies who advertise on the telly and then charge you an interest rate of 20%+, which doesn't help at all.

If you can talk to your bank and get a reasonable rate loan to pay off what you have, that might work for you. The thing you need to do is to ensure you first pay off the necessities of life, such as your rent and essential direct debits, and then clear the money you owe on the highest rate of interest first, because you're just throwing money away right now. Credit card debt is outrageously expensive because it's such a high interest rate. If you can get them down first, that will save you an awful lot of money each and every month.

As far as the things you want to buy, you simply can't have them. You are making things worse for yourself because you are spending money you don't have - and worse than that, the interest charges mean that you are spending lots of money and absolutely nothing.

Unless you get to the situation where the interest charges alone are more than you have coming in (that's when you need desperately to talk to the creditors) you have just a single choice: Stop spending money on inessentials and get the debt down. It's not fun, it's not pleasant, but you must do it. You aren't spending your own money, you're spending someone else's.

Cut the credit cards up so you aren't tempted, and when you've paid one off, cancel the card. Then concentrate on the other.

There are no magic cures, I'm afraid.



She's as nervous as a very small nun at a penguin shoot.
User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 19, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2063 times:

Quoting VHVXB (Reply 17):
That sounds alrite. At least your making effort to get rid of this debt as quickly as you can and I hope you can get out of it very soon.

Thanks. Just have to stay sensible now for the next couple of years. I hope to have both cards cleared by then.

Quoting Oly720man (Reply 16):
But, basically, if you can't afford it, don't buy it. Beware the party season. No point digging deeper holes for yourself just because.

Thanks for the reply Olyman720. I'm gonna have to get on first name terms here in non-av  Smile

Thanks again
Colin


User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 20, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2058 times:

Quoting Banco (Reply 18):
As far as the things you want to buy, you simply can't have them

Banco, you sound like my mother!  Smile But honestly thanks for your reply too. I kept putting off cutting them up. I'll do it tonight when I get home...


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 21, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2054 times:

Quoting Linco22 (Reply 20):
Banco, you sound like my mother! But honestly thanks for your reply too. I kept putting off cutting them up. I'll do it tonight when I get home...

I'm sure. Big grin

I've been there, mate. It's not something you want to hear, but I promise you, it's the thing you must do if you want to get out of it. That's why I say there are no magic solutions, unless "stop spending money" counts as that.



She's as nervous as a very small nun at a penguin shoot.
User currently offlineRobertNL070 From Netherlands, joined Sep 2003, 4532 posts, RR: 10
Reply 22, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2049 times:

Quoting Banco (Reply 18):
The truth is that you it's going to cost you more in the long run if you do it

How come? Surely if you have one larger single loan, say at Oly720man's 7% APR then you would be better off (?)

The last loan I took out was two years ago to help finance my current, then brand-new car. I borrowed €6000, about £4300, at 5.6% APR with a so called flexible credit - a sort of never-never. I paid it off in 13 months !!  biggrin 



Youth is a gift of nature. Age is a work of art.
User currently offlineLinco22 From United Kingdom, joined Jun 2005, 1380 posts, RR: 16
Reply 23, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2046 times:

Quoting Banco (Reply 21):
I'm sure.

No, honest....  yes 


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 24, posted (7 years 9 months 3 weeks 6 days 3 hours ago) and read 2043 times:

Quoting RobertNL070 (Reply 22):
How come? Surely if you have one larger single loan, say at Oly720man's 7% APR then you would be better off (?)

It depends what you mean by "better off". You will have more disposable income, certainly, but generally speaking the term lengths of the loan are longer, in order to make the debt manageable. In absolute terms, you are likely to be paying off a higher total figure.

As I say, this can be a good idea, but you do have to be aware that it can be an expensive solution.

One way of managing unsecured debt is to see if you can get someone daft enough to accept your balance transfer on to a new credit card offering 0% finance on that balance transfer. But you must be strong enough to not use that card - to cut it up as soon as you have it - which will buy you some time to clear other, more expensive debts. If you can then keep moving that debt around to new card suppliers you actually make money, because the debt then declines in real terms. But you do still have to pay it off at some point, and you simply mustn't add to it elsewhere because you have a higher disposable income.



She's as nervous as a very small nun at a penguin shoot.
25 Post contains links Oly720man : Get out of / reduce debt hints and info. http://www.fool.co.uk/get-out-of-debt/get-out-of-debt.htm The loans tab has 3 companies with loans less than
26 Banco : Yes, I am quite sure I do! But she's right, you know.
27 Post contains images RobertNL070 : Because of fixed monthly payments? And you are not allowed to make extra payments should you get a bonus? Sorry, but I'm not very well up on how this
28 Post contains images Skidmarks : See him on Saturday night with Cornish down by the Staines reservoir and he COULD be your Mother Seriously, debt is so easy to get into these days an
29 Post contains images Banco : Correct. And usually the term length. Because people in debt want to "get their life back" to an extent, they often choose something like a five year
30 Post contains images Linco22 : I like you're attitude Andy, not bad for an ole git But you're right, its been 'easy' for me to get into this situation. If I can survive over the ne
31 Post contains images RobertNL070 : You could economise by not renewing your A.net First Class Membership (could I get banned for writing that?) Then at least you could treat yourself t
32 Post contains images Banco : I have NEVER been to Staines and never will. Andy's all bitter because Cornish turned him down as being most probably infested with distemper, and ev
33 Post contains images Cornish : Thats St.Aines . I've heard about all those biological expriments the military did years back on those islands in the north and the mutations that re
34 Post contains images Linco22 :
35 Post contains images Skidmarks : You know, I might just take up fishing - it seems to work fine on here! Andy
36 Post contains images Cornish : I wouldn't Andy. Far too exciting for you in your advanced years. Better stick to bowls
37 Cornish : More seriously Banco is right - cut up the credit cards ASAP. Only way to stop temptation. One other thing: Ah the old social problem. I know this wel
38 Sebolino : I don't really understand how people can fall in this situation. If you follow a conduct line which is "never pay back more then 30 or 40% of your inc
39 Linco22 : Cornish, Your spot on. I've already decided that I'll drive to one of the events, an engagement party. Obviously I wont be drinking and i'll maybe sav
40 Post contains images Banco : There's another cost-saving: Don't get booked or sent off - it's bloody expensive!
41 Cornish : Even if you cut the socialising for a a few months, you'll notice the difference. And it doesn't mean becoming a hermit at all, just a bit of thought
42 Post contains images Cornish : Or flash your arse at the opposing supporters
43 Banco : Because not everyone manages their finances perfectly, that's why. It's a bit smug to just say you don't understand how people do it; they do, becaus
44 Post contains images RobertNL070 : Ask Skidmarks But joking aside, since I stopped smoking many moons ago, my hangovers are practically non-existant. I presume you don't smoke Colin. R
45 Post contains images Banco : Well, that was ridiculous. That section of the crowd spent 90 minutes chanting about his brother, who's in gaol for murder, and when he reacts pretty
46 Sebolino : I understand what you mean. But when somebody is becoming alcoholic, he dosen't believe it can hapen to him, or at the minimum he dosen't imagine the
47 Post contains images Cornish : As Plymouth's quotable manger Ian Holloway put it: 'If anybody's offended by seeing a backside, get real. Maybe they're just jealous that he's got a
48 Cornish : Ah but for some (and i'm not talking Linco here, but much much more extreme cases) buying and spending is as much an addiction as drinking or smoking
49 Post contains links Oly720man : or a tv program.... http://www.bbc.co.uk/entertainment/b...fmumanddad/latest_programme6.shtml amongst others
50 Linco22 : Totally agree, I'm disgusted by the FA's action with this. They need to wise up. No, I don't. Even from a family of smokers too. I'll never touch it.
51 TedTAce : I don't have time to read the above replies so I'm sure I'm likely being redundant. Just in case I'm not.... SELL EVERYTHING you can that doesn't make
52 RichardPrice : At least they arent probing it any further...
53 Post contains images Cornish : Actually this may not be the digression it seems Colin. Perhaps the answer is in your football. Practise more, get better and sign up for a leading c
54 Linco22 : Well I can live in hope.... *sound of snare drum and symbol*
55 Mandala499 : Some banks here have a solution to people with CC problems. Convert the CC debt to a standard debt, in exchange you give them your credit card until t
56 Linco22 : If I go with the plan of selling everything I own i'd have a very boring life. I'd lose my camera, my golf clubs, my PC(direct debit), and other moder
57 Pope : Colin, Time for some tough love. Excessive debt is often (though not always) a sign of lack of personal responsibility. The equation is simple, you ha
58 RichardPrice : Where I work atm I have a pretty good setup - I can buy something on the company account and spread payments over three months, straight out of my wa
59 Cornish : If you ask me, the FA have been incredibly anal about the hole thing
60 Post contains images RobertNL070 : Try the even stricter philosophy of "if I can't pay it then and there, I won't buy it". Robert
61 Post contains images Skidmarks : God, how boring Andy
62 Mandala499 : RobertNL070, I've moved on from that stage and can now use the CC sensibly. There have been stages where not touching the CC was a must... the next st
63 Post contains images RobertNL070 :    [Edited 2006-10-10 15:26:35]
64 BCAL : Colin Admitting that you have a problem with debts is perhaps the first step on the road to recovery. Believe me that the problems will get worse if y
65 Post contains images RobertNL070 : Fortunately I have never got into trouble with credit cards so I have never needed to "move on". Robert
66 Linco22 : BCAL, thanks for that. The debt i'm looking to clear, which is my main concern (my others are direct debit which are managed ok) is about £3200. Thi
67 Post contains images Cornish : Could you sell your body to medical science Colin ? Skidz tried that. it explains why he's so old - the medical profession keep finding excuses to put
68 Banco : Then you'll never buy a house or a car. Some things always need to be spread in payments. As far as credit cards are concerned, I always pay my balan
69 Post contains images RobertNL070 : Kudos. You're nipping it in the bud. £3200 is still relatively manageable I believe. Robert
70 Post contains images Mandala499 : RobertNL070, I never thought that I'd end up in that situation, as I rarely spend on impulse let alone being a compulsive consumer... Pity someone "ro
71 Post contains images Skidmarks : I could be rude and say "arseholes" to you, but you'd probably get excited I'm actually worth more dead than alive. With insurance against the mortga
72 Post contains images BCAL : Same here, Andy! Trouble is, I cannot tell my friends or there might be something extra in my supper and/or Bombay Gin & Tonic this evening!
73 Post contains images RobertNL070 : You don't use credit cards to finance property or cars, at least I don't. The next car I buy will be paid for in cash - or by electronic transfer. I
74 AirCop : Simple but effective advice.
75 Post contains images Mandala499 : Financing property or cars with a CC ? Yucks! Paying installments for cars/property with your credit card you're better off asking the bank to lower y
76 Post contains images AndesSMF : Hmmm... Our days of debt are thankfully long past, but they were definitely not pleasant. There are many expenses that can be trimmed. You have to le
77 ScarletHarlot : It's your choice. Do you want your luxuries and debt or do you want fewer luxuries and no debt? Personally, I wouldn't sell all of the luxuries but I
78 Post contains images RobertNL070 : Come on, you can stop that now. You must be well on the road to financial recovery. Just call me Robert. Robert
79 Post contains images Linco22 : Thank you Mrs Harlot for your reply. I've taken it all on board. I'm taking action for clear it so i'll just have to stick at, sod the luxuries, and
80 Post contains images Speedbirdie : HA! Debt?? come talk to me!! Im in about £30k debt! It doesnt bother me to talk about it now as Ive gotten over the fact that I owe it. I went with a
81 Post contains images Linco22 : Thanks Speedbirdie (I've found the whole username thing a bit uncomfortable, surely I wouldn't address you as Speedbirdie in the street would I?)
82 Post contains images Speedbirdie : No, check my profile for my name..
83 ScarletHarlot : Good for you realizing your debt problem early, and while you are young, so you can take action before it gets really bad! Get yourself in better sha
84 Post contains images Linco22 : Oops, I do apologies. Bob
85 Post contains images Speedbirdie : Bob at Weekends.. During the week you may call me Hannah
86 Kazzie : Her name is Hoe.
87 Linco22 : I'm staying out of this one....
88 Kazzie : But its true!!!!
89 Post contains images Banco : I'm going to watch. There may be mud involved...
90 Linco22 : Remember YouTube....
91 Post contains links WN2CMH : Colin, I don't have time to read all the post, so if this has already been mentioned I'm sorry. You need to start with Dave Ramsey's plan right away!
92 Post contains links BA757 : Don't worry to much about it - debt is a bitch, I know all about it. However these days there is a lot of help. May I suggest you visit this website:
93 Banco : And this is why going down these routes should be a last resort, not a first step. If at all possible, get out of it by yourself. In six years time y
94 ThePRGuy : Thats just a bit antisocial though really. Alex
95 BA757 : Indeed, the problem is, there are not to many options that won't mark your credit file. If your bank or other loan company are unwilling to give you
96 Post contains images Egmcman : They stay on your credit history for six years I'm employed in the insolvency business. An IVA is your best bet. If you are made bankrupt you will pr
97 Post contains images BA757 : Indeed so, as I said in reply 96 . It's nice to see someone who works in the industry offer his input on this thread, I am sure the OP will appreciat
98 767Lover : You just described why poverty exists in modern-day USA. That and drug addiction. Copied them because they're worth repeating.
99 Post contains images Linco22 : Just signed in this morning to a few more posts. Thanks to those who have posted since yesterday. Regards Colin
100 Post contains images Skidmarks : I'm impressed! it took this long to get the tone down to Hannah and Kaz and mud! Andy
101 Post contains images Cornish : Credit cards freshly cut up we all hope
102 Post contains images Skidmarks : Not on your nelly! Once a serial debtor, ALWAYS a serial debtor!! Andy
103 Post contains images Linco22 : Unfortunately no, I was in the house for 2 minutes last night and was out. Not spending money I may add So they are waiting my return this evening!
104 Post contains images Linco22 : Hopefully I can prove you all wrong! and myself of course
105 Post contains images Skidmarks : Me you fool!! Not you! Doh! Where DO the yoof of today get their brains from? Andy
106 Linco22 : I got mine from ebay. I think its faulty
107 Myt332 : I just took a settlement with the solicitors today for one credit card. That's me blacklisted for 6 years, yipee!
108 Post contains images RobertNL070 : OMG, I didn't even have a credit card when I was your age. But that was at the end of the 1970's
109 Linco22 : Sorry to hear that Alex
110 Post contains images Myt332 : That's because you are sensible! Thanks but I guess it's ok, it's only money. I figure I have one other credit card which I can still use in the futu
111 Linco22 : Well I hope it goes ok for you. I know how you feel!
112 VHVXB : how do they calculate your credit rating? As far as I know we don't have them here
113 Express1 : The simple thing to do is not be tempted on spending,pay off what you owe first,then spend a bit more,only this time keep on top of what you spend,set
114 Linco22 : Not sure of the mathmatics behind it but its based on various factors. Mine is good but I am 'over commited' i.e. too many direct debits etc. That ha
115 BA757 : My account manager at the bank told me, if you have a credit card with £1k on it, paying the minimum each month, it will take you 22 years to clear
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Firefox Problems On My Mac posted Sat Nov 18 2006 02:52:36 by Thomasphoto60
Companies That Start Off Millions In Debt posted Fri Nov 10 2006 07:15:13 by B737-112
Microsoft Outlook Problems—Help Please! posted Mon Oct 30 2006 04:35:02 by RJpieces
List Of Car Problems posted Wed Oct 25 2006 13:17:32 by AirbusA346
Computer Software Problems posted Mon Oct 9 2006 21:35:07 by AirbusA346
Site Access Problems With Safari posted Thu Sep 14 2006 04:07:39 by LHMARK
Help: Girl Problems posted Fri Sep 1 2006 02:55:45 by Zizou
Another: MSN Problems Thread.. posted Wed Aug 30 2006 23:24:12 by Kazzie
Garmin 89 GPS Problems posted Wed Jul 26 2006 21:50:47 by Wardialer
BT/Yahoo Outlook Express Problems? posted Sun Jul 23 2006 23:11:01 by Jkw777