I am very embarrassed to say once again, that I have fallen into credit debt to the tune of 鎷?5,000! Two years ago I took out a loan with my mortgage company to clear one set of CC debts. Two years later, I have been sucked in again and feel rotten about it. Can anyone here please give me advice on what to do? Should I take out another loan with the same company and consolidate my CC%26#039;s. Or should I go back to the credit card companies? If I can clear this debt, I will try everything in my power not to make the same mistake again. Fluff with sleepless nights again! Please help!
Credit card debt problem, Help?
First thing First. Cut credit cards now! Now that you have cut your credit cards, try to consolidate you dour debts to pay less interest. Finally, don%26#039;t replace your credit cards, save up and pay cash!
Credit card debt problem, Help?
Firstly you need to look atw hy you are running up these debts. (my problem was a shopping addiction - you might say every woman has this, but this is no joke)
When you can really see what the problem is and how you can deal with it, then I would go back to the loan company and discuss your options. You may need to speak to a financial adviser to ensure you get on the right path.
Think carefully before signing up to debt reduction companies as this will cause problems with getting credit in the future, but it may be your only option.
Speak to the loan company first, as I am sure they would be only too happy to help you out, and if you need to, speak to a financial adviser.
Good Luck!!!
Credit card debt problem, Help?
Mortgage rates are significantly lower than CC rates. I would borrow against my home and pay off the credit cards, and CANCEL THEM! You%26#039;re going to have the pay the money one way or another- its best to pay with a lower rate.
Seek credit counseling too- there are places to get help to curb your overspending.
Credit card debt problem, Help?
You really need some professional counselling from a debt counsellor, not taking advice from anyone, including me, on here...how much are you paying each month??? Must be horrendous...but if you%26#039;ve done it before, you WILL do it again, do get help now.....
Credit card debt problem, Help?
speak to the citizens advice bureu
a lot of these companies who help with such things are business%26#039;s and aren%26#039;t doing it to help you, more to line their own pocket..
I would speak to the company involved. as they would rather get some money than nothing at all.. it disguists me companies let you get into that much debt anyway... yes its business but they should have more moral responsibility
I would also deal with a bank, NOT a tv advertised consolidation loan company as the rates maybe good in the first year, but hike up after.
you can either consolidate it or declare yourself bankrupt..
cutting up the credit cards also will help.. if you can%26#039;t use them , you can%26#039;t spend..
Credit card debt problem, Help?
Contact the CCCS - the Consumer Credit Counselling Service, they are a charity who will give you debt support and management FOR FREE, and have lots of experts who can help you get the best solution. Their website is http://www.cccs.co.uk
Credit card debt problem, Help?
Whenever i am down in the dumps about money i go to this website and order a spell to bring me luck.
http://www.calastrology.com/goodluckpiec...
I know its probably not your cup of tea but its what works for me.
Credit card debt problem, Help?
Don%26#039;t know your family circumstances or who is dependent on you. If it is just you, sell the house and move into one room. Destroy your credit cards. Do not have any loans whatsoever. Alter your life style for two or three years. Live like a pauper.You can not spend 10p on anything that is strictly budgeted for. Only when you are debt free can you live a bit more,but not beyond your means,ever. If you have a family it is more difficult. But do not borrow any more. It will have to be all work and no play whatsoever for you. It is your own fault for being so irresponsible.in the past.
Credit card debt problem, Help?
It is important that you start by looking at your debt situation as a whole.
There is no point making arrangements to pay one of your creditors without dealing with all the other debts you have too
.
I would suggest you start by working out a personal budget.
This should list your monthly income from all sources and the ordinary essential monthly outgoings you need to pay to keep the roof over your head.
These include mortgage or rent, fuel, council tax, water, telephone, TV licence, insurance, housekeeping, clothes, travel,etc
National Debtline (0808 808 4000): Free confidential helpline to those in debt
Consumer Credit Counselling Service (0800 1381111): The service offers free advice and information to those affected by debt.
Best of luck in these trouble times, trust me you can get your life back
Credit card debt problem, Help?
Having been a finance broker for several years, now retired, I cannot count how many people say, as you have done, that you will not make the same mistake again.
In my experience, anyone who wants money will say and do anything to get it with no thought to the consequences - until it`s pay-back time, then they realise they are in the ess aich eye tee once again.
Your best bet would be to go bankrupt.
In my experience, you will never learn. When you want money, you will do as I forecast, do and say anything to get it. Then you spend it, then the halcyon days are over and off we go again!
Good luck - you`ll need it.
Credit card debt problem, Help?
Hi.
This site is well recommended for consolidation loans, Free debt management advice and loans :
http://bestukloans.co.nr
Credit card debt problem, Help?
it took me 7 years to clear my credit card debt. after so long I thought I`d never finish it but when the final payment was over the feeling of relief was so great I had a bottle of wine. it`s not the debt that%26#039;s worse it`s the interest so don`t borrow any thing just keep payments up and it sorts itself out eventually
Credit card debt problem, Help?
Fluff
Get some help, as suggested try cccs or talk to a good insolvency practioner who will give you good advice as to the best thing to do and all options. Dont try to consolidate it just makes it worse.
I dont entirely agree with montgomery, some do learn, but just the hard way.
If you want to deal with this you have to be comitted to making an end to it all. No more credit.
Options an iva, look it up, pay a reasonable amount for five years the rest written off. creditor protection.
Bankrupcy all written off but may have to make payments for three years, car worth over 3000 will have to downgrade if you own property will lose it. Can affect some jobs so check your contract. creditor protection.
Dmp debt management negotiate with creditors to make lower payments, but can take years to pay off. creditors can still chase you or change their mind at any time.
Think carefully in any of these you will damage your credit rating, but if its what you really want that wont matter.
I hope you get sorted. All the best.
Credit card debt problem, Help?
You have a number of options.
1) Review your finances, locate any unnecessary expenditures and create a monthly budget that will allow you to repay the debt.
2) A Debt Management Plan. Either use a Debt Management Company or contact the credit card companies yourself and try to negotiate a better arrangement i.e. a cut in the interest on the debt
3) Debt Consolidation Loan. If you%26#039;ve tried this before and it worked then this might be your best option.
4) An Individual Voluntary Arrangement. If accepted can result in a significant portion of your debts being written off. An IVA will however require you to make a commitment of around five years. If the IVA fails in this time then most likely you will be made bankrupt.
5) Bankruptcy. Offers a guarantee that your debts will be cleared but will likely lose any valubale assets that you have.
The best thing to do is to speak to one or more professional debt advisors. There are many that will provide advice for free. You should do this before you commit to any single course of action.
Credit card debt problem, Help?
I would get in touch with a debt advice specialist. I know of two with no axe to grind. They are the Debt Advice Trust http://www.debtadvicetrust.org and the CCCS.
Both are %26#039;Not For Profit%26#039; and should give you some good advice.
Credit card debt problem, Help?
you abused the trust you put in yourself,you deserve to lose.
easy come easy go ehhhhh.
Credit card debt problem, Help?
hi it may be worth you looking at all your debt inc mortgage to look at all options and save you max money.
i work for a mortgage broker and would be happy to show you some options email me on
quotes@mukconnections.co.uk
o and cut up cards but don%26#039;t beat urself up its the norm these days.
Credit card debt problem, Help?
鎷?5,000 God that%26#039;s more than I earn in a week, Having spoken to my team of advisers reckon you had better go Bankrupt, stay indoors and await the bailiffs who will clear you of all the goodies you have squandered the money on and adopt the motto %26quot;I will not spend what I ain%26#039;t got%26quot;
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