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Debt Story #13

Posted by: tad_admin on 9th Feb 2009 | 0 Comments | Post Comment

I was suddenly taken ill with a life threatening condition, Kidney failure. Whilst having hospital treatment I lost my job. In June of last year I had a transplant with a kidney donated by my wife and am now looking to find a job, which at present I’ve been unsuccessful.

Debt Story #12

Posted by: tad_admin on 8th Feb 2009 | 0 Comments | Post Comment

My wife and i ordinarily earn commission, with the downturn in the economy and the fact that we had just bought a new more expensive house we found ourselves having to use our credit cards more often, now we want to have a family but if we don’t get a loan or reduce the payments and still do not earn regular commission we cannot afford to start a family

Debt Story #11

Posted by: tad_admin on 8th Feb 2009 | 0 Comments | Post Comment

my debt is through applying for a joint account with my partner as we just moved in together renting a house . this was for bills to come out of . as banks do if u dont have enough in they charge you stupids amount of money ..now we carnt afford to pay this off as i dont get payed enough and his pay goes on house bills my second is a loan i got to help to get my partner a car . £6.500 And I Carnt Afford to pay the monthly charges.. my own fault really but at the time my partner needed car for work and i flt horrible . now i feel even worse

Debt Story #10

Posted by: tad_admin on 8th Feb 2009 | 0 Comments | Post Comment

We have tried to talk to the credit card companies, some of whom (M&S) in particular have been very reasonable. The remainder have not and refuse to enter into any arrangement with us despite us giving them all our financial details, income and expenditure forms and trying to talk to them. We receive approx 20 phone calls a day, sometimes at 8am and as late as 9.30 pm. It is very frightening. We are both professional people who have always, until quite recently, were able to make our repayments on time. We have overstretched ourselves and part of this reason was the willingness of credit card companies to increase our credit availability. We are not trying to abrogate our responsibilities and with assistance from our debtors, we would be able to weather this crisis. However, some are being absolutely unreasonable. This is causing us both tremendous strain.

Debt Story #9

Posted by: tad_admin on 19th Jan 2009 | 0 Comments | Post Comment

I have ended up in serious debt through the fall through of a business purchase, refusal of tenants to pay rent for nearly a year and due to relocating the loss of my usual professional income. I have been working toward being able to work as a self employed professional but again due to a lack of funds we haven’t even been able to make all of our basic payments, and I haven’t had the ability to even cover transport costs leaving me essentially in limbo waiting to hear back from people who offer employment but then never come through and not having work other than casual positions. It’s made me very angry. If the situation I am now in was solely due to my own idiocy in spending money I didn’t have then I would gladly hold my hands up and accept whatever I had coming but as it has mostly been due to others taking advantage, giving bad advice, or just generally screwing me over without a seconds thought or offer of explanation it makes it that bit more infuriating. I do know that there will be a way out of it all though and I am looking forward to finding a solution which actually takes into consideration the truth about my plight but as of yet my creditors I’m sure just think I don’t want to work or pay – especially as there are many people who do do exactly that. One of the biggest things that makes me mad is that I have always done everything right, followed the rules and worked for what I’ve had and yet we’d like to start a family now and we can’t because even if we were financially stable we still wouldn’t be able to afford it. Yet of course if I had taken the course of action that a lot of my school mates have – ie. leave school and get pregnant, don’t stay with the father, get state benefits and housing and not have to work then I’d be sitting damn pretty by now! It just makes you wonder what’s the point in trying to make something of yourself?

Debt Story #8

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

Bought a house to renovate. Used credit cards to complete work and remortgaged the house to pay off credit cards but used the money to put into a new pub business thinking that I would be able to pay them off but the brewery have given no help when business has turned bad and have ran up a large vat bill in the process.

Debt Story #7

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

I’m in debt due to, if I’m honest both my wife and I have wanted to live the good life. I used to earn in excess of £100k and could easily afford to buy what ever we wanted. 5 years ago my earnings dropped and although I still earn a good salary especially for where I live in the UK, we have been living in a denial mindset in that we would say my earnings will improve and a fix is just around the corner. That fix never came and we just kept on accepting new credit lines when they were offered by creditors, spending money, transferring balances etc. I now have a new role that comes with a pay rise and the possibility to start earning bonuses again. Both my wife and I need to arrange a ‘plan’ to pay our debts at a rate we can afford after paying the mortgage/ priority bills and living (food on the table, work ex’s). I plan to contact my creditors and enter into discussions on a realistic payment rate. I expect that I would benefit from professional help in those discussions as I’m not 100% sure of what can or is acceptable.

Debt Story #6

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

I was offered credit and took it, I am not one of these people who say it is the fault of the credit card/loan companies as I could have said no.

Debt Story #5

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

I was made redundant at the end of September. I can’t find work in my field – I’m an accountant!!! The credit cards ring at least five times a day – every day! I have got to the stage that I don’t answer my mobile or home phone as I know what they want and I have had the same conversation so many times that I am bored of the threats they make without offering any form of assistance – do they really care? All they are interested in is payment, a bit hard when you have an income that doesn’t cover the essentials like rent food etc… I am going to discuss this with a debt councillor and either go for a debt repayment plan or an IVA. With a bit of luck I can start answering my phone again without getting threatened.

Debt Story #4

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

I got credit cards. I tried to swap them around and ended up having to get more cards because the credit limit was too low so I got a loan to pay the cards off but only managed to pay off two. Then the interest free period ended so I was paying far more than I could afford so I took drugs and drank which effected my judgment and I got more into debt the spiral downwards is terrible then I lost my job not my fault so on benefits with bad health so cannot work so I used more cards had to pay them bad news don’t go there.

Debt Story #3

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

I feel depressed worthless worry 4 my kids all this started 3 yr ago when I had our 1st child ended up in ITU on a ventilator, nearly died which has now left me with heart problem so had 2 cut back on my work hours and it just went from there. My partner had to take time of work to look after kids and me then you get in arrears with things then borrow to get out of it then you get deeper in it I don’t know where to go for help. Just wont our life’s back.

Debt Story #2

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

Had small catering business for 5 years borrowed quiet a bit of money to start and then improve. Was never going to be a millionaire but paid my way ok. Then in March this year I was diagnosed with end stage renal failure, my life was turned immediately upside down I am now on dialysis 3 times a week and waiting for a transplant in the new year. I was forced to stop working six months ago and haven’t worked since. If all goes well I could be in a position to earn a living again in maybe twelve months time but until then my only income is state benefits. I now live in fear of losing my home. This is honestly more worrying to me than the major transplant surgery I am to have shortly.

Debt Story #1

Posted by: tad_admin on 15th Jan 2009 | 0 Comments | Post Comment

Borrowed too much easy money. Lots of credit cards robbing Peter to pay Paul, interest rate shot up, causing my house to be repossessed on the 20 Jan. I just moved out and I am now renting under my sons name.