What to do

[hopper]

Completely broke, credit cards through the roof , and I don't want to sell my sexy beautiful S3 (you may be able to tell by the price i put it up for ). Need some bright ideas on ways to keep it!!!

[Big_M]

Escort Agency? Go out with women for a free dinner and get paid for it. Problem solved.

[julianhj]

Sell a kidney on Ebay?

Seriously though, hope you manage to find a way to keep the S...

[shnozz]

Hopper, I sympathise as in a similar position myself as looking to move house and post xmas bills are rather excessive.

However, bearing in mind the current values of the S's I am thinking there is little to gain by selling it. The expense of running it is another question and if push comes to shove mine will be garaged and taken out for a run every weekend whilst I buy a shitbox to drive in the week.

[Podie]

Take advantage of the 0% balance transfers on some credit cards - Tesco, Sainsbury's etc etc... that will allow you to pay off the debt over the next 6 months or so... just make sure you pay it off, rather than rack up more credit!

Alternatively, go and speak to your bank. Explain the situtation and ask what they can do to help. Banks provide a service, and it will be better if you approach them, than vice versa... shows you are dealing with the issue.

>> Edited by Podie on Thursday 13th February 09:29

[Beano500]

Check out CAB for someone to councel you. It might seem to you that there's some stigma attached - but you are NOT alone.

Either Podie's suggestion of bank or the CAB should help you to gain control over the situation. Good luck.

[Roger McLittriss]

Not much sympathy, but I hope sound advice: grit your teeth, reel in the spending and pay up. That's the only way I've ever found that works. My first wife had a different approach: it was called 'take the money and run'. It was my money, amongst others', and it took me years to get out from under. But I did it, and I learned a few lessons. So now if I ain't got it, I don't spend it (within reason). Some folk say 'to hell with it, it's only debt', but my concern was that if I wrapped my car around a tree, my daughter/ mother would have to sort out the financial mess. Finance houses will only write off so much debt; after that they want it from your estate.
As far as the car is concerned, I'm in the same boat. If I lost my job, say, and had to sell the car, it wouldn't recoup enough to pay off what I still owe.
I'm currently doing the '0% balance transfer' thing myself. You still have to find the payments every month, but at least they aren't hitting you with more interest. Trouble is, a lot of them will only give you £2000 limit... and that's when you can prove you don't need the credit!

Chin up!

RM


>> Edited by Roger McLittriss on Thursday 13th February 21:40

[kenny chim 4]

Hooper- if you've got a mortgage, do what I did and re-mortgage.
A year ago I was in the same situation after being made redundant twice in 3 years- spending nearly a year on the rock n' roll- savings went- and then getting a job with a relatively low wage.
By re-mortgaging I paid off all other debts, reduced the mortgage payments (they're at their loyest rates for over 50 years!), and got a Chimaera after I received a good payout when someone wrote-off my Mazda.
I'm not wealthy but the O/S payments on the TVR are via the mortgage and are at only 3.58%.
I do hope you manage to hang onto the car..
Kenny