paying off my debts

Former Member

i am sick of my finances. i missed a loan payment in june (£70) and my credit score is 172 / 999. the bank took away my debit card and cancelled all my direct debits.

I have since got another current account to pay ONE direct debit. I have paid off a visa today and am working on paying off my barclaycard (£600).

i only have a few thousand pounds owing across the whole picture but the bank said they were 'far down the road'. they could have called in £3200 on demand.

i thank the bank but it's difficult because it's a relatively small ammount of money and it could have ruined me financially.

thanks for listening.

Former Member

Banks can be very helpful when you are looking to get your first credit card, but as you have found out this generosity can turn sour when there is money owing. Have you worked out a repayment plan with the banks and had your interest frozen and such? I am no expert in these matters, but there are a few people on the forum who know quite a bit who I'm sure will be along.

It sounds like you are on the right track though and paying them off

Former Member

you need to visit forums.moneysavingexpert.com debt wannabe section

You will be much better off there

Former Member

£3,200 might seem like a small amount overall, but its still a large amount.

Former Member

It's part of the learning process- falling foul of banks. By the time we're all middle age, with all the trial and error, most of us would have mastered the finances. Keep going and stay on track! there will be setbacks just don't fall into a pitfall and get a major crisis