Man of Honour
Best thing you can do mate is go to the Citizens Advice Bureau, Once you have spoken to them you will feel like a weight has been lifted off.
Anyone on here declared themselves bankrupt?
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Associate
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- 19 Dec 2009
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Out of curiosity, how much are you paying a week for your rent? It's not the summer in Newquay right now so a lot of people will have empty flats who will be desperate to fill them. A cheaper room will definitely help you.
Speak to CAB, speak to creditors, find cheaper accomodation and find a better paid job
if all that fails and you can't cope then go bankrupt as a last resort, although tbh going bankrupt is not as bad as people make out, there will be lots of restrictions and you will still pay something back to your creditors but it will be controlled, my friend did this and it was a huge weight off his mind.
if all that fails and you can't cope then go bankrupt as a last resort, although tbh going bankrupt is not as bad as people make out, there will be lots of restrictions and you will still pay something back to your creditors but it will be controlled, my friend did this and it was a huge weight off his mind.
Soldato
Hello Brain!!?!?!
Soldato
10k debt isn't a lot, iv been there as I'm sure others have too, and even today I'm still paying it all off but I'm a lot happier about my debt problem now then iv ever been simply bc it is going down and not up.
Going bankrupt is not the solution that's for sure it will hinder you even more tbh.
You need to get on the phone and start writing letters to your creditors asking them to stop the interest charges and work out a plan....most will accept if you keep on nagging enough-even mbna which are notorious for being hard-nosed when it comes to no interest gave in for me in the end.
It doesn't matter how much you earn in this situation, even if you earn £10 a month and pay half of that to our creditors as long as you have an agreement in place and stick to that your on your way to clearing debts.
If you can move back in with our folks that's also a start, and use the money to pay off the loans or at least get reduced rent if they still need some money form you.
Going bankrupt is not the solution that's for sure it will hinder you even more tbh.
You need to get on the phone and start writing letters to your creditors asking them to stop the interest charges and work out a plan....most will accept if you keep on nagging enough-even mbna which are notorious for being hard-nosed when it comes to no interest gave in for me in the end.
It doesn't matter how much you earn in this situation, even if you earn £10 a month and pay half of that to our creditors as long as you have an agreement in place and stick to that your on your way to clearing debts.
If you can move back in with our folks that's also a start, and use the money to pay off the loans or at least get reduced rent if they still need some money form you.
maybe the 2000 extra he would be paying was a thank you.
Quite how you lend from someone though I have no idea,
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Soldato
Care to elaborate?
His debt is 10k, his mum offered to help him and by lending it off her means they can make a repayment plan he can afford instead of having to pay 10k in one year.
Soldato
It doesn't but if he needs to pay creditors I doubt they will agree on a repayment scheme lasting years.
Caporegime
It's not a bad idea, given that his mum is unlikely to knee cap him for missing payments and it won't affect his credit rating as it's off the books, as it were.
Caporegime
Yes they will.
Soldato
- Joined
- 18 Mar 2008
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- 12,751
You mean: borrow 10k from your mum
Also, paying that amount back would mean paying back £12k, although I imagine this was your intention. Also remember inflation. It will be a lot easier to pay 1k in 10 years than it will be now.
Soldato
Move back wih parents. Cut up CC's. Go up CAB and see what advice they can give, 10k isnt a lot of debt to clear, you could clear it off in 5 years.
I would also enquire at your local college about a plumbing, sparky, barber, carpenter, mechanic course. You can make shedloads as an MOT tester or summit.
A trade is your way out dude.
Sounds like you could be depressed or something, please do not do anything stupid. Talk to family or friends, hell I live the other end of the country and would be willing to talk to you if u wanna talk/rant to a random.
I would also enquire at your local college about a plumbing, sparky, barber, carpenter, mechanic course. You can make shedloads as an MOT tester or summit.
A trade is your way out dude.
Sounds like you could be depressed or something, please do not do anything stupid. Talk to family or friends, hell I live the other end of the country and would be willing to talk to you if u wanna talk/rant to a random.
Yep, move back to your mums and if she has the savings then borrow the money she is offering to pay off the debt.
If your mother is reasonably good with money then maybe get her to deal with your money and give you an allowance. The rest she can use as part payment on your debt to her and also as a little bit of savings for you.
If your mother is reasonably good with money then maybe get her to deal with your money and give you an allowance. The rest she can use as part payment on your debt to her and also as a little bit of savings for you.
I can't offer much advice financially, so I won't suggest random stuff for the sake of it.
However I've "seen" you on these forums since I've joined. You have always stood out to me as a thoroughly pleasant articulate chap with a good grasp on the situation.
Don't put yourself down, stay positive. Believe me when I say you have FAR more going for you than most muppets I meet on a day to day.
Living with your mum is a definite. Yes I understand there is a stigma (Don't know why to be honest, it's a damn sensible thing to do. If I remember correctly the average age of Italians leaving home is like 36 or something
), but it's worth it for the cash you will save. Instantly that's like 400 a month extra.
Alternatively have you considered moving abroad? A chance for a TOTALLY fresh start from a personal viewpoint?
The main thing is to keep your head up high. You are a great guy, who is still damn young relatively. Life changes in a heart beat, you just need to help facilitate it.
Best of luck mate, all the very very best for the upcoming year.
However I've "seen" you on these forums since I've joined. You have always stood out to me as a thoroughly pleasant articulate chap with a good grasp on the situation.
Don't put yourself down, stay positive. Believe me when I say you have FAR more going for you than most muppets I meet on a day to day.
Living with your mum is a definite. Yes I understand there is a stigma (Don't know why to be honest, it's a damn sensible thing to do. If I remember correctly the average age of Italians leaving home is like 36 or something
), but it's worth it for the cash you will save. Instantly that's like 400 a month extra. Alternatively have you considered moving abroad? A chance for a TOTALLY fresh start from a personal viewpoint?
The main thing is to keep your head up high. You are a great guy, who is still damn young relatively. Life changes in a heart beat, you just need to help facilitate it.
Best of luck mate, all the very very best for the upcoming year.
They will
besides, his current repayments would take many years anyways as I doubt he has amassed a debt of £10k with a view to paying it back in just one year