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[amigov6]

I think most people have or have had loans and finance at sometime.... I did when I lived with my Mum and Dad, I can here them now when I turned up with my Yamaha 350 YPVS    "Oh Darren why didn't you save up for it, you will be forever paying it back and it won't be worth half as much when you have paid it off!"
But i saw it and wanted it NOW!  
this seems to be the way now, no-one wants to wait, no-one listens to Mum and Dads advise either (well I didn't) what do they know.... but then 18years down the line I have two daughters that i am trying to teach the same things.... "If you save half and spend half you will always have some when you need it" but really I know they will do the same

Click the word Picture to see what I bought

;)350 Elsie- wheelie machine!!!

[Martin_1962]

3 loans 4 cards and mortgage rises don't help

one loan finishes in August the other in December, the final one September 2009.

In August I start dealing with card debt - all contacted and behaving.

I have NO mortgage arrears - already told them all mortgage comes first.

For your info. one card has been stopped another on hold, one used and one slowly being dropped down.

BTW the loans are 1 - debt consolidation 2 - LPG install last car 3 - car loan

I am trying to get a few odd jobs on the side - where I can do anytime, currently teaching my self silver soldering.

Thought about an LPG project but they don't seem to get the money to make it worth laying out £900

[amigov6]

i am probably the worst case senario for this... i am currently 1 year into an I.V.A. i`ve got 4 years to go then i`ll be debt free..but i`ll never be able to buy a house,get a car on credit,have a cc or even be allowed to have an overdraft not unless i go to your companies that cover people with a bad credit history i.e. pay extornaite rates of interest. Well that was my fault i tried to keep up with the jones so to speak an now i pay the price but i`ve learned all be it to late that if you want it SAVE FOR IT!! don`t get yourself in my mess the only people who win are the credit lenders and the debt management companies who convince you its in your best interest to go into bankruptcy an iva`s.. if you are in this mess don`t panic there is always a way out of it 1st goto your local C.A.B. an talk to em they advise you an help write letters to your credit lenders 2nd cut up your cards even your debit cards pay cash for everything you can keep track of your money better and 3rd talk to the people who matter in your life a trouble shared is a trouble halved there are people more worse off than you i see em most days in my job..one thing i would dearly love to do is win the lottery..not a lot you understand just enough to get me an my family outa this mess..but that wont happen i know it wont cause my task is to work myself outa of it an i promise you i will...

:)Hi Bertie. A mate of mine's recently gone into an iva through buying cars, taking out c/cards to pay them off & buying another one,etc...... so i understand.
      Being relatively near the end of the worst of my two loans( thank f**k) the company in question are hounding me to take more money from them. These people do'nt want you to clear your debt, they want you to keep owing them, + the other companies that get your phone no. from some database.
     One who i'd never heard of called 2 yrs ago telling me my 45'000 loan was in place, the total sum repayable was £125,000!!!!!!!!! Needless to say....... . [smiley=thumbdown.gif]
        Hope things work out ok for you & yours. Most people know better but if anyone's thinking about financing something they ca'nt wait for i hope our stories put them off.
      P.S. Open all your junk mail from these parasites, take the prepaid reply envelopes out, seal 'em up & post 'em back empty so they pay postage. Childish i know but strangly satisfying!!!

[Darth Loo-knee]

I think most people have or have had loans and finance at sometime.... I did when I lived with my Mum and Dad, I can here them now when I turned up with my Yamaha 350 YPVS    "Oh Darren why didn't you save up for it, you will be forever paying it back and it won't be worth half as much when you have paid it off!"
But i saw it and wanted it NOW!  
this seems to be the way now, no-one wants to wait, no-one listens to Mum and Dads advise either (well I didn't) what do they know.... but then 18years down the line I have two daughters that i am trying to teach the same things.... "If you save half and spend half you will always have some when you need it" but really I know they will do the same

Click the word Picture to see what I bought

;)350 Elsie- wheelie machine!!!

Wish I still had her  have you seen how much they are fetchin on flee bay?

[amigov6]

You have learnt before it was too late.  

Very easy trap to fall into, when I was a teenager I ran up far too much on credit cards.
That taught me a hard lesson.

:-[Indeed. Once bitten........

[Kevin Wood]

P.S. Open all your junk mail from these parasites, take the prepaid reply envelopes out, seal 'em up & post 'em back empty so they pay postage. Childish i know but strangly satisfying!!!

Nice tip. My dad just chucks junk mail back in the post box to let Royal Mail deal with the cr@p they deliver!

Kevin

[Danny]

i hate delivering the crap we all recieve, just as much as i hate recieving it, but by delivering it, it pays my bills

as for the prepaid envelopes, even if you bin them, the company that sent it has already paid for them

[CaptainZok]

i hate delivering the crap we all recieve, just as much as i hate recieving it, but by delivering it, it pays my bills

as for the prepaid envelopes, even if you bin them, the company that sent it has already paid for them

Just like when we had to deliver readers digest.

[TheBoy]

I tend to fill out the forms (with rubbish obviously) and send back in prepaid envelope, just so the companies have to open it and start entering before they realise its rubbish.....   .....I am very childish...

[Danny]

I tend to fill out the forms (with rubbish obviously) and send back in prepaid envelope, just so the companies have to open it and start entering before they realise its rubbish.....   .....I am very childish...

now thats a better idea

[TheBoy]

I tend to fill out the forms (with rubbish obviously) and send back in prepaid envelope, just so the companies have to open it and start entering before they realise its rubbish.....   .....I am very childish...

now thats a better idea

Though it takes time and effort.....


....unlike the stock replies I have for the political parties come local election time

[Jay w]

i have been in debt myself, a large sum of money as well, today thinking about it scares me.

Now i have no credit cards, the miggy is paid next month and the next car will be bought cash, we have a mortgauge and that is it, if the money isn't there we cant have the luxuaries......

I work for a large credit card company, i do a lot of the training for their collections dept, they speak to people who have fallen behind with thier payments and try to negotiate a way forward, we hear some very sad stories, and then there are others who run up debt and have no intention of paying it back (they see bankruptcy as an easy way out )

If you are in dificulty and you want help you have three free options....

if you owe less than £8K with less than 2 lenders the CAB will give you advice on how to deal with these debits.

More than £8K and more than 2 creditors, two companies who are excellent and FREE, CCCS www.cccs.co.uk or payplan www.payplan.co.uk.

There are lots of debit management companies, many of them will charge lots of money and give crap advice, CCCS and Payplan are free and charitable organizations.

hope that helps anyone who needs help

[Paul M]

Don't touch finance personally, every car, motorbike or other item I've owned has been bought cash. I have three credit cards all of which have a direct debit set up on my bank account to clear the entire balance -- have never paid interest on them.

My approach is: if I can't afford it now, I'll wait until I can afford it.

[Marks DTM Calib]

I guess I'm lucky, I only have a mortgage and have managed to stash a few quid just in case.

The mortgage frightens me sometimes but, its a 5 figure sum so much less than most these days and it has 15 years to run thanks to some excellent advice when I renewed it the first time (I always move it at the end of the deal period). The guy who did it ran a few cases for me, 25 and 22 years repayment etc, it worked out as about 30 quid difference a month and saved thousands on the term!

I learnt at an early age about money as we didn't have much, at the age of 13 I got a job and saved money to buy things like a colour TV, bike and a stereo.....it taught me a lot!

I got through student life without a loan or debt thanks to working my arse off in the summer holidays.

Even with cash in the bank I wont just go and buy something I want (like an LCD Tv which I do want!), I save for it and then get it. Interestingly, I find you make considerably more thought through purchases that way.

I do have a credit card as its pretty much essential for work expenses but, pay it off at the end of every month and bank the reward points

[TheBoy]

I guess I'm lucky, I only have a mortgage and have managed to stash a few quid just in case.

The mortgage frightens me sometimes but, its a 5 figure sum so much less than most these days and it has 15 years to run thanks to some excellent advice when I renewed it the first time (I always move it at the end of the deal period). The guy who did it ran a few cases for me, 25 and 22 years repayment etc, it worked out as about 30 quid difference a month and saved thousands on the term!

I learnt at an early age about money as we didn't have much, at the age of 13 I got a job and saved money to buy things like a colour TV, bike and a stereo.....it taught me a lot!

I got through student life without a loan or debt thanks to working my arse off in the summer holidays.

Even with cash in the bank I wont just go and buy something I want (like an LCD Tv which I do want!), I save for it and then get it. Interestingly, I find you make considerably more thought through purchases that way.

I do have a credit card as its pretty much essential for work expenses but, pay it off at the end of every month and bank the reward points

Sounds like a similar experience to me, only I have a bit longer to run by a year or two.

I came from a family of 5 kids, and Mum didn't really work until we were nearly teens, so money was scarce, so learnt at an early age not to fritter money away.

Mrs TheBoy's mum died very early, so she had a similarly hard financial upbringing as well, although she won't trust herself with credit cards/store cards etc. Too easy she reckons.

I guess I've been lucky, when I moved out at 18, I managed to lodge with someone for 3 yrs at a good rate, allowing me to save for my first house at 21, which gave me a good start on the housing ladder.