Money Problem

Sony

Hi Guys,

Just a quick question, Im having a bit of trouble managing my debt at the moment-my credit card is maxed and I have a loan also with the bank. The credit card interest especially is eating me up bigtime so I was just wondering does anyone know would the bank top up my loan for the amount to clear my credit card? I know I would manage it better if it were all in one place

Im afraid to contact my bank about it just now because Im actually avoiding their calls about a minimum payment at the moment:o

Advice appreciated,Thanks
Sony

Ruu_Old

Try contacting someone at MABS perhaps.

smashey

Burying your head in the sand regarding the bank won't help. Talk to the Bank Manager. Have you considered the credit union?

delos

Speaking as someone who buried his head in the sand smashey is dead right.

Talk to them ASAP. The interest rate on a credit card is crazy so get that cleared. If you can't do this through a credit union go to the bank and explain - its actually a lot of weight off your mind to get started on sorting it out. I'd be surprised if you were the worst case they have come across.

Suggest that they cut your limit back to a more realistic amount - trust me you don't want them cancelling your card. Its in the bank's interest (no pun intended) to keep you afloat.

Good luck but make a start on this tomorrow.

dudara

Don't hide from this problem, awkward though it may be. Get in touch witn MABS, as already suggested, or make an appointment to see someone in your bank.

You will not be the worst case that they have seen and they generally are good at helping people sort out their debt. Ultimately it's in their interest that you sort it out too.

Sony

Thanks guys,good advice-never heard of MABS before;)

summerwine

Just one other thing, I don't know if its the same in Ireland but when I was in financial difficulty in england. I talked it all through with my manager, they totally understood and when they know all the facts and information. they are much more likely to help!

I suggest talking to your bank straight away!

beezkneez

if your not working every hour god sends - id suggest that aswell.

Beruthiel

Sony wrote:

Im afraid to contact my bank about it just now because Im actually avoiding their calls about a minimum payment at the moment

That just pisses them off.
Call them, and ask to see the manager or assistant manager, go in and explain your situation in detail and see what they can come up with.
They are more than willing to get their money back however they can. Better this way for them than having to go to court, so nip that in the bud and just sort it with them. They will help you get through this.

When it's over, cut your credit card up into little bits and live within your means.

Trinity

know exactly how you feel!!

Yeah MABS is always a good place to go as they can negiotiate payments with your bank sometimes.

if not, contact your bank, they may freeze the interest if you set up a standing order. Personally mine got so bad even with a standing order i got a new card with another company and transferred my balance so i am paying no interest. In my case it gives me a chance to catch up as on the other one, everytime i paid 40 off it, they added 30 so i was only paying a tenner!

Not suggesting you go get another card just telling what i had to do! If you do go that road cut up the cards! Its easy say and they are handy but its not worth it if you start depending on them to pay for everything.

Another thing i had to do was get a huge credit union loan and consolidate all my debts. It took 3 appeals with the committee to get it but my loans were over 300 pw and i just had nothing left to live on so i cleared the lot and now i only pay 47 euro a week. Its not adviced as a rule to get a loan to clear a loan but i literally couldnt afford rent or food i had no alternative and it worked out perfectly for me.

Sony

Thanks guys i phoned the bank yesterday and they said i could top up my loan to clear my credit card. I feel I have no option so hopefully this will sort it out:)

Firetrap

Good on you. Just one more thing - cut up that credit card. In no time at all, you'll be piling money back onto it. If you need to buy stuff online, get one of those 3V cards where you pay as you go. A Laser card's brilliant as well if you find yourself shopping and in need of cash but with no access to an ATM.

oranje

Sony wrote:

Thanks guys i phoned the bank yesterday and they said i could top up my loan to clear my credit card. I feel I have no option so hopefully this will sort it out:)

Great result, good luck getting this under control.

Zambia

Excellent result ,,,Mate remember the feeling of being penniless and scared of the mail and Post.

The UK is currently in convulsions with people being re-possessed and declared bankrupt. There is far to much cash being shoved at people on the never never. Ireland is sure to follow with the lifestyle price of Dublin. I have heard of people in 35,000 of Debt having aquired no tangible assets like a house.

Once you are clear of all this hurdle that feeling will make sure you are not ringing up ocean finance in a few years delighted to recieve a re-mortgage at 7.9% or over.

Black Swan

Sony wrote:

Im afraid to contact my bank about it just now because Im actually avoiding their calls about a minimum payment at the moment:o

This is one of the worst things you can do with your bank and your credit rating. Go and sit down with you bank and work out a solution, then put your credit card someplace you cannot use it until your debt is manageable.