# Bumping a Credit Card



## wylde99 (Feb 23, 2008)

I ow £6000 In Credit Card fee's and I'm only 25.

Stupid I know, I've made some very bad decisions over the last couple of years, I'm in the right direction though, quit all Drugs, rarely go out with friends, buy cheap food and Work any Extra hours I can.

Now I never thought about not paying my Credit card Debts, never even crossed my mind, I ow £3500 on 1 and £2000 on the other.

Family and friends are saying just don't pay the Credit card that I ow £2000 too, telling me that £2000 Is not worth there time to chase.

I disagree, and am worried It will just get me deeper Into debt, just thought I'd ask you guys for an opinion.

Do I just not pay them? Tell them to just take me to court as I have no Money?

Or do I explain I have very little money and tell them I will pay £20 a month?

What Is worse case scenario resulting In me just not paying them and what Is the likely Outcome.

Its Tesco's that this £2000 Is with.


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## Delhi (Dec 8, 2005)

For two grand they will defo chase you and go to court


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## Shooter (Feb 3, 2012)

You could declare yourself bankrupt. That would wipe all the debt. But you would be blacklisted for about 10-20 years, and unable to get credit or a mortgage in your name ect.


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## TURBS (Oct 21, 2013)

Change your name, move and never reference the past...

But seriously, it's best to come to an agreement with the credit card companies before debt collection gets involved and more costs are added. Worse case scenario, your have bailiffs at your door, which unless your clever could result in losing all your possessions and you'll probably still owe then, oh and a very bad credit rating.


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## Suprakill4 (Jul 11, 2008)

Ffs what idiots are saying don't pay them? Of course they are going to take you to court over 2000. I've been in debt all my life up until recently. Have been paying £300 a month of my wages on debt for years and years and it so refreshing that the payments have now finished.

You should also do a claim for ppi mate if you've had it. My bank contacted me recently about ppi on a loan I was paying off for 6 years and I recieved a cheque the other day for £1600 which paid off the remaining of the loan and left me with about 1k extra (awesome!!!!!).

Apart from that you should ring them and set up a payment arrangent. Without one in place your just gonna keep getting late payment fees which are ludicrous.


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## Mark2021 (Apr 13, 2012)

Keep paying it or youl end up in more debt! Guarantee! Theyl take you to court mate, pay your mistakes, move on and learn!


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## dave1180 (Aug 19, 2009)

As said by @Suprakill4 you need to speak to them mate, try and set up a payment plan that suits both you and them.. I don't think you owe enough for an avi or bankruptcy but I may be wrong, both of those should be last resorts!


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## wylde99 (Feb 23, 2008)

I've already come to the conclusion that the advice I'm getting off some people in my life Is very wrong, I thought £2000 is a fair bit and just Ignoring them will make things much worse.

So you think If I call and explain that my hours have been cut back and I'm In debt with other Credit Cards, they will let me pay back a little amount a month? Maybe Freeze the Interest too?

Do you think £6000 Debt Is really bad at 25years old? I just can't stop worrying about It.

And can someone explain PpI


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## FelonE1 (Dec 23, 2013)

Ask them about some kind of payment plan.Explain your financial situations not good and if you can't agree on a way you can pay you'll have to go bankrupt.A lot of times if you speak to someone you can come to some kind of arrangement


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## Suprakill4 (Jul 11, 2008)

wylde99 said:


> I've already come to the conclusion that the advice I'm getting off some people in my life Is very wrong, I thought £2000 is a fair bit and just Ignoring them will make things much worse.
> 
> So you think If I call and explain that my hours have been cut back and I'm In debt with other Credit Cards, they will let me pay back a little amount a month? Maybe Freeze the Interest too?
> 
> ...


At 21 I had over 10,000 debt and also 12,000 student loan debt (which I'm still paying through my wages). The other debt I'm now clear so you will get there mate and I can empathise, it takes over your life.

Another option is to go with a debt recovery company because most of them will take care of absolutely everything. They stop you getting letters from the bank and they can freeze the interest with them aswel. You need to speak to a government funded debt advice line because they will point you in the right direction. Just try not to let it take over. It will ruin your life if you let it.


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## Suprakill4 (Jul 11, 2008)

And live a sh1t life in terms of spending money for a few years. That's what I have done for about 4 years and it's been hard but now, I'm £300 better off, which is helping relationship as we don't have to just be cooped up and have no money to do anything so we can afford to get out for cinema and meals etc now. It's just sh1t living for years and not doing anything that costs money.


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## Shooter (Feb 3, 2012)

wylde99 said:


> I've already come to the conclusion that the advice I'm getting off some people in my life Is very wrong, I thought £2000 is a fair bit and just Ignoring them will make things much worse.
> 
> So you think If I call and explain that my hours have been cut back and I'm In debt with other Credit Cards, they will let me pay back a little amount a month? Maybe Freeze the Interest too?
> 
> ...


PPI is Payment Protection Insurance. It was a little trick that lenders used to use to get more money out of people. It was decided by the government that it was illegal, so you can now claim it back. I wouldn't be surprised if you were owed 1-2k. Speak to the bank where you have the debt with.


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## gearchange (Mar 19, 2010)

Suprakill4 said:


> At 21 I had over 10,000 debt and also 12,000 student loan debt (which I'm still paying through my wages). The other debt I'm now clear so you will get there mate and I can empathise, it takes over your life.
> 
> Another option is to go with a debt recovery company because most of them will take care of absolutely everything. They stop you getting letters from the bank and they can freeze the interest with them aswel. You need to speak to a government funded debt advice line because they will point you in the right direction. Just try not to let it take over. It will ruin your life if you let it.


Great advice mate,they will cut the debt to just your affordable amount and you will not be blacklisted,no interest means you will pay literally less than half back..And chances are the credit card companies will offer you a discounted sum for early settlement..I would definitely go down the route suggested.


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## IGotTekkers (Jun 6, 2012)

Take out a 3rd credit card with as much credit as you can get, let me use it and I will pay off your 6 grand over 2 years how's that  i need 10k quickly or more but no cvnt will give me nothing coz of my bad credit lol. Pain in the ****


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## Suprakill4 (Jul 11, 2008)

Shooter said:


> PPI is Payment Protection Insurance. It was a little trick that lenders used to use to get more money out of people. It was decided by the government that it was illegal, so you can now claim it back. I wouldn't be surprised if you were owed 1-2k. Speak to the bank where you have the debt with.


Yep. This in a nut shell.

You can print out a form and just fill in the blanks on Martin Lewis website.

You MUST (!!!!!!) tell them everytime you speak to them that at no point did you ever understand that you was signing up for ppi. It wasn't explained to you. Given the full details and the option, you 100% would have declined ppi.

They will ask you questions like -

Would your employer pay out if you died. Answer yes.

Would you be entitle to full sick pay if was taken ill. Answer yes.

This is what I done on the phone and they decided that I never needed pip and it was never even discussed with me. So I got full payment back.


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## Hotdog147 (Oct 15, 2011)

IGotTekkers said:


> Take out a 3rd credit card with as much credit as you can get, let me use it and I will pay off your 6 grand over 2 years how's that  i need 10k quickly or more but no cvnt will give me nothing coz of my bad credit lol. Pain in the ****


Fvcking hell! Where do I sign :lol:


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## BLUE(UK) (Jan 9, 2008)

Get a 0% or a lower interested credit card than you currently have, cut ALL outgoings besides absolute essentials including walking/cycling to work if possible to save on commuting costs and get it paid ASAP.

If the card is 0% for 6months, take it then swap it to another and so on.


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## Guest (Jun 18, 2014)

I had 25k gambling debt and guess what, I paid every last penny and more, 6 years but it got paid and my credit is almost intact lol.


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## biglad90 (Oct 20, 2010)

Same boat mate and I'm 23

I had loads of direct debits for stuff I bought on credit, had a loan to pay and credit cards.

So I just one big loan and consolidated it all, and I pay £300 per month to clear it.

If you can't get a loan ask your perents to get you it and you pay them.

Cut your cards up too.

But seriously don't bump them they will find you eventually.

Hope this helps


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## platyphylla (Feb 17, 2014)

First, don't EVER call - always correspond by writing and nothing else.

Second, pay what you can afford. If it's not enough they can take you to court and you'll probably end up being told to pay just slightly more than you offered if that.

Third, bankruptcy will NOT leave you blacklisted for '10-20 years'. My uncle went bankrupt with more than £30k and he was able to get credit after 18 months.


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## B.I.G (Jun 23, 2011)

I would speak to them to see if you can arrange a deal with them to pay less off each month. If not then get onto that debt management scheme run by the government.

Don't go bankrupt over that amount of money. If it was 30k+ I'd consider it at a young age as you will find certain things hard to get for 6 years but after that you start clean.

You could also try applying for a 0% balance transfer for the longest period available to you. Then transfer the balances from the two cards to the new one. You'll probably pay about 3% interest to transfer the balance but during the 0% interest period, anything you pay will come off the total amount instead of paying a load of interest.


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## Mal20729 (Mar 1, 2014)

Just pay it! You spent it didn't you? Well time to man the fvck up


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## Lorian (Apr 9, 2003)

wylde99 said:


> I ow £6000 In Credit Card fee's and I'm only 25.
> 
> Stupid I know, I've made some very bad decisions over the last couple of years, I'm in the right direction though, quit all Drugs, rarely go out with friends, buy cheap food and Work any Extra hours I can.
> 
> ...


Definitely don't ignore it.

Don't enlist the help of any company advertising on daytime TV.

Speak to these people - https://www.payplan.com/ It's a free genuine, non-scam service and they will help you.

They will give you sound advice and help you move forwards. They will also negotiate with your creditors on your behalf so that you only pay what you can afford. They are also very good at getting interest frozen so that the amount you own doesn't increase any further.


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## Archaic (Mar 8, 2010)

The best people you can speak to is Step Change Debt Charity (used to be called CCCS)

www.stepchange.org/

They will give you free professional debt advice, plus contact the companies you owe money to and try to temporarily freeze the interest charges whilst they organise a more manageable payment plan for you.

Best to phone them on: 0800 138 1111

Just don't stop paying your debt altogether ffs, they will take you to court and the amount you owe will grow.


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## dann19900 (Dec 29, 2012)

I'd pay it if I was you. I had a £1200 bill on a mobile that I decided to ignore, ended up paying it to debt collectors in the end but its still fuked my credit rating 2 years later


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## IGotTekkers (Jun 6, 2012)

Lorian said:


> Definitely don't ignore it.
> 
> Don't enlist the help of any company advertising on daytime TV.
> 
> ...


Can they freeze tax fines? I'm being stung for £10 per day till I send off my return :lol:


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## tommyc2k7 (Jun 7, 2013)

Don't listen to whoever gave you that terrible advice. Ruining your credit history for the sake of £2000 would be pointless, if you want to ruin it you may as well declare bankrupt on the whole 6.5k (still a stupid idea).

Have you ever missed a payment? If you haven't, you should have a decent enough credit rating, get yourself on the best 0% balance transfer card you can and transfer as much as you can. If you don't get a credit limit high enough to cover all of your debt, make sure you transfer the debts with the highest interest first. Once you've done that, pay the minimum off per month on the interest free debt, while paying as much as you can afford from the remaining debt that's costing interest. The more you can pay per month, the more of the capital the debt will reduce by. The smaller you pay off, most of it is just paying off the interest and the amount you owe goes down very slowly.

This is the most efficient way of paying off your debt and you can make a much bigger dent in the debt quicker. Also you can get another balance transfer card once the interest free period is up. Depending on your credit you might even be able to get multiple interest free transfer cards to cover the whole debt?

If you can't get one, you should still focus on the debt with the highest interest first. How much can you afford to pay off per month? And make sure you cut up your cards! You will never pay off your debt if you are still adding to it.

When I had a loan I paid off as much extra as I could per month, having to pay interest is something that I try to avoid as much as possible.


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## SteveMUFC (May 30, 2012)

wylde99 said:


> I ow £6000 In Credit Card fee's and I'm only 25.
> 
> Stupid I know, I've made some very bad decisions over the last couple of years, I'm in the right direction though, quit all Drugs, rarely go out with friends, buy cheap food and Work any Extra hours I can.
> 
> ...


Refinance it with a loan. Atleast you know at the end of the loan term your debt is paid off. Go for a bank loan not these private ones on the internet. This is a better option because the chances of you getting a 0% balance transfer credit card is most likely hard because of the credit history. Best option is bank loan to pay off the credit cards and then pay monthly on the loan and all the debt will be wiped


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## clh (Apr 24, 2014)

You will find speaking to them the best option . I had to and i pay a minimal amount sadly listed as default but it stopped the charges and the interest


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## romper stomper (Sep 26, 2012)

Make an appointment with the bank - explain the situation and ask for Help in making a debt plan - they can actually be helpful if approached correctly.

All credit card companies will chase up and take non payers to court - regardless of amounts


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## Kiwi As (Nov 4, 2013)

BLUE(UK) said:


> Get a 0% or a lower interested credit card than you currently have, cut ALL outgoings besides absolute essentials including walking/cycling to work if possible to save on commuting costs and get it paid ASAP.
> 
> If the card is 0% for 6months, take it then swap it to another and so on.


This


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## timbear84 (May 19, 2013)

You will go to court and you might have to declare bankrupcy which will hurt you for years, i think its ten, meaning no loans no mortgage and no higher perchase on things like cars. you want even be a able to get a sofa on credit, thats if you dont pay. But keep swapping from 0% interest credit cards alot easier to pay off. its amazing what difference paying the extra 18.9% interest makes


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## saxondale (Nov 11, 2012)

Where do people keep getting this 10 year figure from?


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## wylde99 (Feb 23, 2008)

Sorry guys I fell asleep.

Yer so deffo not going to Bump them, I knew that just wouldn't be that easy.

I really can only afford £25 a month right now though, even with the minium payment at like £56, but when last on the phone with them they did say that would be ok, but they need to know what I earn/pay out ect...should I ask them to send me a form to fill In and send back?

I still don't get this PPI stuff, I just tell them I didn'tm understand what I signed up for?

And some other people said declaring Bankruptsy would erase all Debt, but obviously no Credit for years, but I wouldn't mind that, Is that the only downfall?


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## Suprakill4 (Jul 11, 2008)

wylde99 said:


> Sorry guys I fell asleep.
> 
> Yer so deffo not going to Bump them, I knew that just wouldn't be that easy.
> 
> ...


Forget declaring bankrupt it's a fcuking ridiculous idea for your ammount of debt!!!!!

Ppi - ring your bank ASAP!! Tell them you want to put in a claim for ppi being misold. Explain to them that you have only just seen it in the media about it all, and you think you have been a victim of ppi being mi sold do you. It's that simple. Google ppi scam and you can learn more about it. It's incredibly straight forward and if you can claim depending how long you have been paying it (if you have) you will probably get a big chunk back to clear some debt.


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## rsd147 (Nov 14, 2012)

Might be worth trying to get a bank loan for 6000 to pay back over an amount of years depending on your income.

That way you can pay off the credit cards. Also your credit rating should jump up after paying them over a few months. Thats my advice


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## Riddar (Dec 20, 2011)

I've got a £330 mobile phone debt that has been passed on from Vodafone to Lowell who bought the debt. I was sold a dodgy phone on the wrong contract and rang up Vodafone who said they will cancel the contract for me. 5 years later Lowell send me a letter saying they will be collecting the debt. I don't think so. Are they being paid? No way. I believe after 6 years or so the default will be cleared off my credit file so I'm not too fussed.

As for Credit Cards, I don't think you'll be able to run away from it mate. Either get a loan out to pay the other debt, or try and consolidate them and pay a single monthly fee for the next few years.

For people mentioning the blacklist, isn't that a load of b0llocks? It's a myth as far as I'm aware.


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## Guest (Jun 19, 2014)

wylde99 said:


> Sorry guys I fell asleep.
> 
> Yer so deffo not going to Bump them, I knew that just wouldn't be that easy.
> 
> ...


Your best option has already been mentioned on several occasions. You are already struggling to pay the minimum payment so what you are paying (£25) is already going down on your credit file as "an arrangement to pay" this has significantly lowered your credit score.

Go to a free debt counselling / advice service like citizens advice and get them to salvage your financial standing. Six grand doesn't seem much but it will affect you for years to come of it's not sorted out properly.

Also bankruptcy is discharged after 12 months but stays on your credit file for 6 years not 10. You are not allowed to apply for more than £500 credit in that time and must tell your bankruptcy officer. A judge would not grant you bankruptcy for £6K, it would be more likely an IVA would be granted which means you would pay all of it back over a longer period but it still fvcks your credit file for 6 years.


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## wylde99 (Feb 23, 2008)

Suprakill4 said:


> Forget declaring bankrupt it's a fcuking ridiculous idea for your ammount of debt!!!!!
> 
> Ppi - ring your bank ASAP!! Tell them you want to put in a claim for ppi being misold. Explain to them that you have only just seen it in the media about it all, and you think you have been a victim of ppi being mi sold do you. It's that simple. Google ppi scam and you can learn more about it. It's incredibly straight forward and if you can claim depending how long you have been paying it (if you have) you will probably get a big chunk back to clear some debt.


Ok I'll get on that, let me just explain though to see If you think I will get anything.

I have been paying pretty much the minium payment on BOTH my Credit Cards for the last 2 years now, Have taken Cash out on both, so Interest Is sky high.


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## Smitch (Dec 29, 2008)

wylde99 said:


> Ok I'll get on that, let me just explain though to see If you think I will get anything.
> 
> I have been paying pretty much the minium payment on BOTH my Credit Cards for the last 2 years now, Have taken Cash out on both, so Interest Is sky high.


Consolidate both onto an 0% interest card as a first step to give yourself some breathing space.


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## HDU (Jul 27, 2012)

I heard all credit agencies have to clear your name after 7 years


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## Lorian (Apr 9, 2003)

wylde99 said:


> I really can only afford £25 a month right now though, even with the minium payment at like £56, but when last on the phone with them they did say that would be ok, but they need to know what I earn/pay out ect...should I ask them to send me a form to fill In and send back?


The organisation I recommended in my earlier post will do that for you.



wylde99 said:


> I still don't get this PPI stuff, I just tell them I didn'tm understand what I signed up for?
> 
> And some other people said declaring Bankruptsy would erase all Debt, but obviously no Credit for years, but I wouldn't mind that, Is that the only downfall?


Trying to claim back PPI is only relevant IF you are actually paying it in the first place. If you are paying an additional fee each month to protect your payments then it will be shown on your statements.


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## BLUE(UK) (Jan 9, 2008)

wylde99 said:


> Sorry guys I fell asleep.
> 
> Yer so deffo not going to Bump them, I knew that just wouldn't be that easy.
> 
> I really can only afford £25 a month right now though, even with the minium payment at like £56, but when last on the phone with them they did say that would be ok, ?


You're paying nothing off of the actual debt.

Without your full financial breakdown it is hard to advise.

Something is seriously amiss with your finances unless you either live alone or you're on the rock n roll.(dole).


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## wylde99 (Feb 23, 2008)

I called them, and told them I could only afford £25 a month as I was behind on my Rent, had my Hours cut back and was In Debt with another Credit Card.

They said £25 a month was fine as long as I explain Ingoings/Outgoings, but even £25 a month would take me like 6 years to pay off so of course I am tempted just to not pay at all, you guys honestly think It will backfire on me If I tell them Im really up for It going to Court as In "Bring It on Tesco Bank"


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## AlexHealy (May 27, 2012)

Can you apply for a credit card with a 0% interest on balance transfers? Have a look around and see if you can transfer your balance.

That way anything you pay towards it will go towards your debt and not interest.

Don't get into the attitude of not paying your debts though, you'll only be damaging your future and your credit.


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## 39005 (Nov 25, 2013)

you need to get professionals advise as a few options are open to you (forget bankruptcy you dont need it)

theres are multiple options inc IVA's and a DRO (a DRO can be taken if you owe under 15k and meet certain criteria )

give these people a ring and ask for advise (they are the old CCCS )

http://www.stepchange.org/Debtinformationandadvice.aspx


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## gycraig (Oct 5, 2008)

wylde99 said:


> I called them, and told them I could only afford £25 a month as I was behind on my Rent, had my Hours cut back and was In Debt with another Credit Card.
> 
> They said £25 a month was fine as long as I explain Ingoings/Outgoings, but even £25 a month would take me like 6 years to pay off so of course I am tempted just to not pay at all, you guys honestly think It will backfire on me If I tell them Im really up for It going to Court as In "Bring It on Tesco Bank"


Don't borrow a lot of money when you haven't got any then :S why would you run up a 6k debt knowing you can't afford to pay it back :S.

Get interest freezed pay your 25 quid a month then When you get a better job pay more back ?. We have people who went bankrupt 4 years ago who still can't have a shiny Samsung on contract.

Borrow a lot of money they offer you a stupidly low repayment fee and still wanna fk em off ? Fantastic


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## Shady45 (Jan 5, 2010)

wylde99 said:


> I called them, and told them I could only afford £25 a month as I was behind on my Rent, had my Hours cut back and was In Debt with another Credit Card.
> 
> They said £25 a month was fine as long as I explain Ingoings/Outgoings, but even £25 a month would take me like 6 years to pay off so of course I am tempted just to not pay at all, you guys honestly think It will backfire on me If I tell them Im really up for It going to Court as In "Bring It on Tesco Bank"


Lol if it was as simple as saying I'm not paying, then you wouldn't have so many people struggling with debt.

Take up the low payment back and try to get the interest frozen. When you are in a more comfortable position, then pay back more.

Also a few people have provided links to people that can help, so have a look


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## mgseven (Mar 26, 2010)

Shady45 said:


> Lol if it was as simple as saying I'm not paying, then you wouldn't have so many people struggling with debt.
> 
> Take up the low payment back and try to get the interest frozen. When you are in a more comfortable position, then pay back more.
> 
> Also a few people have provided links to people that can help, so have a look


Agree with above.

Petitioning for your own bankruptcy will cost you money, about £700. It's not worth it for the debt you have.

Moneysavingexpert.com has a budget planner that help you organise your finances, there a lot of advice on that site about money management.

https://budgetbrain.moneysavingexpert.com/budgetplanner/edit/1763345

You will have a couple of tough years but you can sort it out without doing anything too drastic.


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## wylde99 (Feb 23, 2008)

3 Years later and I still ow 6k :-(

Although my Old Dear Paid my M&S Card off which was 3.5k and £65 a month Interest and I was only paying £100 a month, save to say it didn't go down much


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## BLUE(UK) (Jan 9, 2008)

BLUE(UK) said:


> You're paying nothing off of the actual debt.





wylde99 said:


> 3 Years later and I still ow 6k :-(
> 
> Although my Old Dear Paid my M&S Card off which was 3.5k and £65 a month Interest and I was only paying £100 a month, save to say it didn't go down much


 Did you listen to the man with no debts?


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## Imy79 (Oct 19, 2007)

BLUE(UK) said:


> Did you listen to the man with no debts?


 Minimum payment is only paying interest 

He needs to move it to a 0% interest, then anything towards it will reduce his capital!


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## BLUE(UK) (Jan 9, 2008)

Imy79 said:


> Minimum payment is only paying interest
> 
> He needs to move it to a 0% interest, then anything towards it will reduce his capital!


 You'd think folk would know this. Crazy people.


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## Tomahawk (Dec 24, 2014)

Why do you guys stick around after having such massive debt? Why not just move to another country and let the problem disappear?


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## Prince Adam (Mar 17, 2012)

BLUE(UK) said:


> You'd think folk would know this. Crazy people.


 Forgotten in his haze of weed


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## faipdeooiad (Apr 24, 2012)

Imy79 said:


> Minimum payment is only paying interest
> 
> He needs to move it to a 0% interest, then anything towards it will reduce his capital!


 A good idea but not easy if you haven't got a good credit history.


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## BLUE(UK) (Jan 9, 2008)

Tomahawk said:


> Why do you guys stick around after having such massive debt? Why not just move to another country and let the problem disappear?


 Whilst I'd agree, I don't think I'd do it for such a small amount. Haha.



Prince Adam said:


> Forgotten in his haze of weed


 Bang on.


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## Tomahawk (Dec 24, 2014)

BLUE(UK) said:


> Whilst I'd agree, I don't think I'd do it for such a small amount. Haha.
> 
> Bang on.


 It's so easy to get a loan in this country. I remember at some point I got 4K, 10K, 8K, and 5K loans within 3 months, whilst already having 11K on my credit card, a 7K bank loan, 12K through a private lender, a 9K student loan, and a maxed-out 2.5K overdraft.. and no job. Last week I just bought a brand new laptop, I walked into Currys to buy a 900 pound laptop and they approved me for 1500 pounds. I only wanted 900. They said you can come by later and get 600 pounds worth of more stuff if you like. First payment doesn't happen for 6 months, I can pay them back the full amount any time in the next 6 months and I don't even pay interest. Madness. For someone who doesn't mind packing a few bags and learning a new language, the credit system can be a gold mine..


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## BLUE(UK) (Jan 9, 2008)

Tomahawk said:


> It's so easy to get a loan in this country. I remember at some point I got 4K, 10K, 8K, and 5K loans within 3 months, whilst already having 11K on my credit card, a 7K bank loan, 12K through a private lender, a 9K student loan, and a maxed-out 2.5K overdraft.. and no job. Last week I just bought a brand new laptop, I walked into Currys to buy a 900 pound laptop and they approved me for 1500 pounds. I only wanted 900. They said you can come by later and get 600 pounds worth of more stuff if you like. First payment doesn't happen for 6 months, I can pay them back the full amount any time in the next 6 months and I don't even pay interest. Madness. For someone who doesn't mind packing a few bags and learning a new language, the credit system can be a gold mine..


 The OP has a cat so not much chance he'd do this.


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## Imy79 (Oct 19, 2007)

faipdeooiad said:


> A good idea but not easy if you haven't got a good credit history.


 Good point, you'd be surprised though, if you haven't missed a payment etc, very rarely you get declined. I have helped a mate to do this, a good few times!


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## S1dhu82 (Dec 30, 2015)

the process with these companies if u have a card with debt they will chase u 3 to 9 months. then they will sell the debt to a debt management agency. then that debt management company will chase u 4 ages. then they have a choice either take this to court which most wont as they will have to pay cost as u have no money. this process will get u a ccj. so will mean ur credit f**ked so when u want a mortgage ur gunna pay a much higher rate and will struggle to get any loans or credit cards. ull always pay in the end as when u want a mortgage ull be using a ccj one that will charge 4 per cent so that 4 to 8k u didnt pay ull certainly pay more than that back extra on ur mortgage


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## superdantheman (Jul 22, 2016)

Call the credit card company tell them you lost a relative. It plunged you into depression as a result you struggled at work. You ended up unemployed. That effected you further and you attempted suicide.

youre now a vulnerable customer with no income. They can't access drs records without your permission.

FCA guidelines are such they have to handle you differently. End up paying £20 a month or less or maybe get the debt written off. Not ideal but better off then ignoring it and getting a ccj


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## Tricky (Jan 21, 2017)

Ffs just sort your life out. 3 years later and your in no better finical situation. I lost 27k gambling a few years back and simply just got a loan paid off all credit cards so that I had one payment and not paying multiple interest in various cards then just made the payments each month it's hardly rocket science.

Cant actually believe you still owe 6k 3 years later and someone even paid of a 2.5k card of yours. Sort yourself out your an adult ffs


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## Tomahawk (Dec 24, 2014)

superdantheman said:


> Call the credit card company tell them you lost a relative. It plunged you into depression as a result you struggled at work. You ended up unemployed. That effected you further and you attempted suicide.
> 
> youre now a vulnerable customer with no income. They can't access drs records without your permission.
> 
> FCA guidelines are such they have to handle you differently. End up paying £20 a month or less or maybe get the debt written off. Not ideal but better off then ignoring it and getting a ccj


 Why is that not ideal? You only pay 20 a month, sounds like a good deal.


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## mean_dean (Aug 8, 2014)

Change your name via deed poll register your new name with electoral register/hmrc wait 3 MTHS get a new bank act then a contract payg sim ( make sure you pay it on time via DD ) boom you've got a new credit file ( as for bailiffs unless there high court bailiffs they can't do s**t - just don't ever acknowledge them or answer door/ ring them back/ even talking to them through the window n they'll get bored n leave you alone ) - if you don't play the game some other ****er will ??? Obviously I've never done this just know someone who has


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## Tomahawk (Dec 24, 2014)

mean_dean said:


> Change your name via deed poll register your new name with electoral register/hmrc wait 3 MTHS get a new bank act then a contract payg sim ( make sure you pay it on time via DD ) boom you've got a new credit file ( as for bailiffs unless there high court bailiffs they can't do s**t - just don't ever acknowledge them or answer door/ ring them back/ even talking to them through the window n they'll get bored n leave you alone ) - if you don't play the game some other ****er will ??? Obviously I've never done this just know someone who has


 What do you do when they come and drag you to court?


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## mean_dean (Aug 8, 2014)

Tomahawk said:


> What do you do when they come and drag you to court?


 They can't .... Unless you commit fraud which obviously I don't suggest you do


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## Tomahawk (Dec 24, 2014)

mean_dean said:


> They can't .... Unless you commit fraud which obviously I don't suggest you do


 Really? They can't drag you to court or force you into bankruptcy if you owe 30,000?


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## Fortis (Oct 20, 2012)

its stories like this that put me off getting a credit card. I am trying to grow my credit score, but never really had anything to pay for. Got my first contract phone last year and scared for anything to go wrong so I usually pay 2 weeks before the bill is due. But yeh s**t like this really put me off. I am saving for a house now £500 a month and hoping to grow my credit score to help get a mortgage, but unsure how I can boost it and what helps in the long run.


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## Tomahawk (Dec 24, 2014)

Fortis said:


> its stories like this that put me off getting a credit card. I am trying to grow my credit score, but never really had anything to pay for. Got my first contract phone last year and scared for anything to go wrong so I usually pay 2 weeks before the bill is due. But yeh s**t like this really put me off. I am saving for a house now £500 a month and hoping to grow my credit score to help get a mortgage, but unsure how I can boost it and what helps in the long run.


 Get on the electoral, get a few credit cards but always pay them off, get some small loans and pay them off


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## monkeybiker (Jul 21, 2010)

Fortis said:


> its stories like this that put me off getting a credit card. I am trying to grow my credit score, but never really had anything to pay for. Got my first contract phone last year and scared for anything to go wrong so I usually pay 2 weeks before the bill is due. But yeh s**t like this really put me off. I am saving for a house now £500 a month and hoping to grow my credit score to help get a mortgage, but unsure how I can boost it and what helps in the long run.


 I didn't have any loans or credit cards before I got my mortgage and didn't have a problem getting a mortgage.


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## Fortis (Oct 20, 2012)

monkeybiker said:


> I didn't have any loans or credit cards before I got my mortgage and didn't have a problem getting a mortgage.


 ahh okay, how old are you out of curiosity?


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## monkeybiker (Jul 21, 2010)

Fortis said:


> ahh okay, how old are you out of curiosity?


 37 got mortgage at 32. I kind of think getting in debt and having bad credit is a bigger problem than building a good credit is a benefit.


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## Fortis (Oct 20, 2012)

monkeybiker said:


> 37 got mortgage at 32.


 ahh okay not that long ago then fella, I am 26 so need all the advice I can get .


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## monkeybiker (Jul 21, 2010)

Fortis said:


> ahh okay not that long ago then fella, I am 26 so need all the advice I can get .


 It's not as scary as it seems. I went on www.moneysupermarket.com and put my details in for a mortgage. Nationwide turned out to do the best deal so I went into a nationwide branch and set it up. Was actually a very simple process.

https://www.landc.co.uk/ You could phone these guys up and ask for some advice, they are a broker that does not charge a fee.


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## mean_dean (Aug 8, 2014)

Tomahawk said:


> Really? They can't drag you to court or force you into bankruptcy if you owe 30,000?


 Nope because you haven't acted fraudently ( they can only execute a writ in the name that is given to them by the courts ) obviously changing your name means they don't have the correct one that's stated, this becomes harder if you have large assets ( mortgage or business ) but if you can distant yourself from them ie sell on / change ownership then buy in new name ( it's a f**k about but it depends how much you don't want to pay) ?


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## monkeybiker (Jul 21, 2010)

mean_dean said:


> Nope because you haven't acted fraudently ( they can only execute a writ in the name that is given to them by the courts ) obviously changing your name means they don't have the correct one that's stated, this becomes harder if you have large assets ( mortgage or business ) but if you can distant yourself from them ie sell on / change ownership then buy in new name ( it's a f**k about but it depends how much you don't want to pay) ?


 I'm very dubious if this would work. If they find the name is not correct they will find out the new name.


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## Slagface (Dec 10, 2016)

Shooter said:


> You could declare yourself bankrupt. That would wipe all the debt. But you would be blacklisted for about 10-20 years, and unable to get credit or a mortgage in your name ect.


 You can go bankrupt and be back with a credit rating within 2 years. My ex wife did 2 years later she had a car on finance and mortgage agreement but she didn't follow it through. It's not the monster it used to be.


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## Tomahawk (Dec 24, 2014)

Slagface said:


> You can go bankrupt and be back with a credit rating within 2 years. My ex wife did 2 years later she had a car on finance and mortgage agreement but she didn't follow it through. It's not the monster it used to be.


 But they still take control of your bank account for 5-6 years don't they?


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## Slagface (Dec 10, 2016)

Tomahawk said:


> But they still take control of your bank account for 5-6 years don't they?


 No mate they can't do that, atleast Iv never heard of that


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## Jeddy11 (Apr 3, 2017)

Tomahawk said:


> But they still take control of your bank account for 5-6 years don't they?


 I think thats if you take out an IVA with a company.


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## Tomahawk (Dec 24, 2014)

Slagface said:


> No mate they can't do that, atleast Iv never heard of that


 So then hypothetically, a person could get a bunch of loans, buy a car in cash, transfer ownership of the car to a relative, declare bankruptcy, and then use the car. I like this system.


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## babyarm (Sep 4, 2013)

Jeddy11 said:


> I think thats if you take out an IVA with a company.


 They don't with an IVA. When it's done it's done.


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## Sphinkter (Apr 10, 2015)

wylde99 said:


> I ow £6000 In Credit Card fee's and I'm only 25.
> 
> Stupid I know, I've made some very bad decisions over the last couple of years, I'm in the right direction though, quit all Drugs, rarely go out with friends, buy cheap food and Work any Extra hours I can.
> 
> ...


 Your family sound like a bunch of wing nuts mate no offence but that is the shittest advice ever.

If you default on your credit cards the interest will continue to build so youll owe more for a start, and the rates might go up if your on a deal (low introductory rate etc) it might bump up as a result of you defaulting, check your terms.

The other thing that will happen is your credit rating will be s**t so you can kiss goodbye to getting a mortgage, the rates you get offered on other forms of credit will be shite if you get offered anything at all.

Most cards let you pay a minimum per month which is usually 1%.

The other thing you can do is see about getting a 0% balance transfer card and pay that off so youre not building anymore interest.


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## smash (Jul 23, 2013)

What kind of place do we live in when all you want to do is run away from your debts and problems.

You had the credit and used it so man up and pay it back.


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## Tomahawk (Dec 24, 2014)

smash said:


> What kind of place do we live in when all you want to do is run away from your debts and problems.
> 
> You had the credit and used it so man up and pay it back.


 If you can find a way not to pay a debt, that's not running away from the problem, that's solving it eloquently.


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## Tomahawk (Dec 24, 2014)

Jeddy11 said:


> I think thats if you take out an IVA with a company.


 Here it is, I found it: https://www.stepchange.org/debt-info/bankruptcy-income-payment-agreement.aspx

If you go bankrupt they can set up an IPA (income-payment-agreement), or force you to enter an IPO (income-payment-order), where they basically say you get to spend 300 a month on shopping, 20 for your phone, 20 for your gym, 1000 for your rent, and the rest we take and give to these nice people who you owe money to. And they can do that for 3 years.

That's what put me off declaring bankruptcy... because technically I can afford to pay off my debts, although I would be able to buy nicer things if I didn't.

Anyone know what happens if you just pack up and move to a new address without telling the banks? If you get court summons to the old address, can they blame you for not showing up?


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## warsteiner (Jul 15, 2013)

If the banks CC companies can't find you or contact you after a certain amount of time they will sell your debt on to a debt collection agency who are used to tracking people down who try to run away from their debts. They will try and embarass/force you to pay your debts by sending letters through the post that have 'Final Demand' or something similar on them so the postman, etc. know you are in financial difficultly to you and turn up on your doorstep and start asking you about your debts, how you are going to pay them, etc. They aren't bailiffs so can't force entry to your property and take goods away but they can constantly pester you to make your life a misery.

Eventually they may decide to petition that you be declared bankrupt as you can be declared bankrupt if you owe someone £5k or part of £5k - https://www.citizensadvice.org.uk/debt-and-money/debt-solutions/bankruptcy-2/creditors-making-you-bankrupt/creditor-trying-to-make-you-bankrupt/

The sensible option is to take responsibility and to try to pay the debt off otherwise things could get really serious. Being declared bankrupt is something you will have to declare any time you are asked (i.e. mortgage application, loan application, etc.) and, as you are only 25, you have a massive part of your financial life ahead of you.


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## monkeybiker (Jul 21, 2010)

Tomahawk said:


> Anyone know what happens if you just pack up and move to a new address without telling the banks? If you get court summons to the old address, can they blame you for not showing up?


 I don't know but for driving you are responsible for informing dvla of address change so would assume similar for banks.


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## comp07974 (Dec 12, 2012)

At 25 you can still repair your credit mate...pay it. I made the mistake of hiding from my debts, they got wrote off as i made no contact for 6 years but my credit ratings toss. Should be able to buy a house at 35ish.


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## Tomahawk (Dec 24, 2014)

comp07974 said:


> At 25 you can still repair your credit mate... so why pay it. I successfully hid from my debts, they got wrote off as i made no contact for 6 years but my credit ratings toss. Should be able to buy a house at 35ish, so it's a win.


 Fixed that for you... ;p

But seriously, how much did you owe?


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## MrLulz (Mar 20, 2012)

I had problems with debt in my early 20s. 15 years on and my Experian score is 999.

Applied for a 0% interest zero fee new credit card a few days ago as 0% interest period on current credit card is coming to an end soon. Asked for 10k and got it instantly approved. Feelsgoodman.


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## wylde99 (Feb 23, 2008)

5 Years later and I know only owe 3k to Tesco Credit Card tempted to Bump them.

Paid off my M&S Credit card of almost £4k


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## Sasnak (Oct 11, 2016)

wylde99 said:


> 5 Years later and I know only owe 3k to Tesco Credit Card tempted to Bump them.
> 
> Paid off my M&S Credit card of almost £4k


 Balance transfer it to an interest free one over as long as you can get, set up a direct debit so you don't miss payments

Search Martin Lewis' moneysavingexpert for the best deal. I put the remaining balance of a mortgage onto a credit card because it was the cheapest option.


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## jwbs (Oct 1, 2014)

You from the North East bonnie lad? Or do they use "Bump" as a term for "Rip" etc throughout this great country?


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## darren.1987 (Jan 2, 2013)

wylde99 said:


> 5 Years later and I know only owe 3k to Tesco Credit Card tempted to Bump them.
> 
> Paid off my M&S Credit card of almost £4k


 your old dear paid off your m&s card not you?

so factoring that in, how have you not managed to pay anything back off your 3k Tesco card debt 5 years later?

and no they don't always come after you for 2k worth of debt. I owed just over 3k and never got taken to court.

in my 20s I was given a 5k loan and 3k credit card when I only had a part time 20 hour job. Straight away with no prior major credit.

Ended up not being paid from employer for 6 weeks (900 a month I was on back then) so couldn't even afford to get to work etc and why would you when you haven't been paid for 6 weeks.

claimed from my PPI due to unemployment so they paid off almost half of it.. however they would not temporarily freeze the interest on the loan or card till I had a new job and could pay it off at a decent amount.

so I was paying them back slightly more than the interest payment so told them they aren't getting anything more off me. I was paying £50 each month and interest was £47.

i had debt collectors send letters phone calls but nothing was ever done. No home visits etc.

(It may be different now as my similar situation was over 6 years ago now)

it will mess your credit rating for 6 years which isn't good at all so be aware of that, however now I have a decent job I have good credit again and can get 0% interest balance transfer cards etc and low rate Apr credit cards.

Even if you were only paying £30 a month you'd of paid nearly 2k of it off by now.

But If you'd of not paid it'd nearly be up now as well as defaults stay on credit file for 6 years.


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## wylde99 (Feb 23, 2008)

darren.1987 said:


> your old dear paid off your m&s card not you?
> 
> so factoring that in, how have you not managed to pay anything back off your 3k Tesco card debt 5 years later?
> 
> ...


 Old dear paid it off in a chunk my other Credit card I paid her back for a Year then she stopped it, I have been paying the other one off I just pay the Minimum payment each month, but put Flights to Amsterdam on it a few months ago which took to me almost £300 past my credit limit so have only just got level with that.

Its just I know of people who have just not bothered to lay a credit card and nothing happend, my mates Dad owed £4k on a credit card and told them he would pay £20 a month, they said its no where near enough so he said "well you can take me to court then" and put the Phone down, he got letters and everything then they gave up.


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## darren.1987 (Jan 2, 2013)

wylde99 said:


> Old dear paid it off in a chunk my other Credit card I paid her back for a Year then she stopped it, I have been paying the other one off I just pay the Minimum payment each month, but put Flights to Amsterdam on it a few months ago which took to me almost £300 past my credit limit so have only just got level with that.
> 
> Its just I know of people who have just not bothered to lay a credit card and nothing happend, my mates Dad owed £4k on a credit card and told them he would pay £20 a month, they said its no where near enough so he said "well you can take me to court then" and put the Phone down, he got letters and everything then they gave up.


 yeah they didnt do anything with mine. just sold the debt on after 5-6 months when it goes into sustained arrears then a default.

what I'm saying is sometimes the debt collectors will do something especially if it's escalated to high court balliff's then you will have to pay no question.

mine were with lowells then moorcroft debt recovery then finally with Robinson way which is linked to HP2H a debt recovery company.

they just send letters worded so it sound's like they are going to take you to court but it's actually saying they might take that action. And they now have to legally send you a LBA - letter before action. Before they can commence court proceedings.

after 6 years its statute barred they cannot take you to court. they can hound you via post etc but have no legal standing at all.

As long as you don't make any further payment's or admit to the debt for 6 years or it cancels it and it starts over.

however it's a risk. so I'm not advising you to do it, I had no option at the time.

But if your still only making minimum payment's on it can you realistically pay it off in a few years?


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## jjtreml (Dec 13, 2016)

Had a mate who was in 6 maybe 7k of credit card debt, he fecked off to live in the US...this was back in 2007.

I assume that the debts have been written off by now? :thumb


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## Gary29 (Aug 21, 2011)

jjtreml said:


> Had a mate who was in 6 maybe 7k of credit card debt, he fecked off to live in the US...this was back in 2007.
> 
> I assume that the debts have been written off by now? :thumb


 It's ok, the rest of us cu**s who actually pay up will have covered him.


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## JohhnyC (Mar 16, 2015)

Key point here is modern mentality with some of you lot above. OP got himself into debt and needs to simply pay it off not worm his way out of it.

Lack of integrity boys.


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## Cypionate (Jan 17, 2016)

I owed just £300 on a Capital One card (Only had a £200 limit, rest was interest), they hounded me for a few months, now it appears all traces of me ever owning that card are gone and haven't had a letter, call or text or email for months either

CC companies are the scammers, the interest they charge is ridiculous, fk em :lol:


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## EpicSquats (Mar 29, 2014)

I had a debt from a loan company of a few hundred for years, never paid. Got loads of threatening letters, ignored them. Now I have a great credit rating. Fvck em.


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## Cypionate (Jan 17, 2016)

Not sure it would be cost effective for them to chase up under a certain amount anyway, not sure how it works but if they have to hire the debt collectors or pay for a court summons or whatever, if it's going to cost more than is owed I can't see them doing that


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## wylde99 (Feb 23, 2008)

Cypionate said:


> Not sure it would be cost effective for them to chase up under a certain amount anyway, not sure how it works but if they have to hire the debt collectors or pay for a court summons or whatever, if it's going to cost more than is owed I can't see them doing that


 True but we're talking £3k which they would definitely chase up.


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## Cypionate (Jan 17, 2016)

wylde99 said:


> True but we're talking £3k which they would definitely chase up.


 Yea I'd expect more than a few letters for £3k

Pretty sure I can ignore them for £300 though :lol:


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## jjtreml (Dec 13, 2016)

JohhnyC said:


> Key point here is modern mentality with some of you lot above. OP got himself into debt and needs to simply pay it off not worm his way out of it.
> 
> Lack of integrity boys.


 Hmmm not really, its just numbers on a computer screen at the end of the day.

The world will go on and the sun will rise if he doesn't pay back the 3k.

In the grand scheme of things its complete peanuts.

The trick is to never ever get a credit card.


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## wylde99 (Feb 23, 2008)

jjtreml said:


> Hmmm not really, its just numbers on a computer screen at the end of the day.
> 
> The world will go on and the sun will rise if he doesn't pay back the 3k.
> 
> ...


 Could Not agree more, only wish I had that Mentality at 21 when I got the Bloody Credit Card!


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## Gary29 (Aug 21, 2011)

jjtreml said:


> Hmmm not really, its just numbers on a computer screen at the end of the day.
> 
> The world will go on and the sun will rise if he doesn't pay back the 3k.
> 
> ...


 Yeah but when every c**t is at it, the total soon adds up and you can guarantee that the share holders and profits won't suffer, so everyone else has to pick up the tab, with s**t interest rates for savers and higher rates for borrowers.

Credit cards have their uses if you are in control of your finances.

The trick is to never borrow what you can't afford to pay back.


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## JohhnyC (Mar 16, 2015)

jjtreml said:


> Hmmm not really, its just numbers on a computer screen at the end of the day.
> 
> The world will go on and the sun will rise if he doesn't pay back the 3k.
> 
> ...


 mate that's ridiculous, is your bank balance just a numbers on a screen? So if someone transferred that number to someone else, it's ok with you.

End of the day one actively chooses a loan and that comes with responsibility. Whether one tries to shrug it off is up to the individual.


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## EpicSquats (Mar 29, 2014)

Moral of the story. Do the exact opposite of what @wylde99 does every time or your life will be a massive never ending fukk up of your own making.


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## wylde99 (Feb 23, 2008)

EpicSquats said:


> Moral of the story. Do the exact opposite of what @wylde99 does every time or your life will be a massive never ending fukk up of your own making.


 Well that's mean.


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## EpicSquats (Mar 29, 2014)

wylde99 said:


> Well that's mean.


 Bro, you had 4 years to pay off your debts and didn't do it. Wtf are you doing?


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## 6083 (Jun 21, 2007)

I've got almost 30k in debt I'm paying off

The monthly payments I could have a new range rover on my drive.

Pay it off while you can before you get in more s**t


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## Cypionate (Jan 17, 2016)

https://www.stepchange.org/

They can force the companies you are in debt with to accept as little as £1 a month if you can prove you do not have the money to pay them


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## BLUE(UK) (Jan 9, 2008)

EpicSquats said:


> Bro, you had 4 years to pay off your debts and didn't do it. Wtf are you doing?


 Sucking his cats dick probably.

Laying low over a 3k debt, standard UKM millionaires act. :thumbup1:


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## TURBS (Oct 21, 2013)

Slightly off topic... I received a letter today from one of my c/c companies who are *halving *my limit, just because I've not used it in over 6 months

Never knew this was possible and it's not like I asked for a raise and then didn't use it, had a this higher limit for years :confused1:


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## 6083 (Jun 21, 2007)

I've been blacklisted by virgin c/c for NOT using my card recently, they cancelled it and won't let me have one.

My other cards I've got between 12-15 k limits on


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## JohhnyC (Mar 16, 2015)

TERBO said:


> Slightly off topic... I received a letter today from one of my c/c companies who are *halving *my limit, just because I've not used it in over 6 months
> 
> Never knew this was possible and it's not like I asked for a raise and then didn't use it, had a this higher limit for years :confused1:


 i have had the same, even the overdraft on my mortgage was reduced because I never used it. The way it work is that you are not building up a history of credit (and more importantly: timely paying it off) so your credit risk is being scaled back from good to neutral).

However I don't need it because I am a bitcoin millionaire and bench 140 between trades (in my one bed gypo flat). :thumbup1:

Do one peasants


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## EpicSquats (Mar 29, 2014)

BLUE(UK) said:


> Sucking his cats dick probably.
> 
> Laying low over a 3k debt, standard UKM millionaires act. :thumbup1:


 Most ukm millionaires have -25000 grand to their name.


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## Tricky (Jan 21, 2017)

Fck me yous get in debt so pay the thing back. Transfer to a HSBC 0% card for 33 months just pay back £91 a month for the 33 months.


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## Tomahawk (Dec 24, 2014)

JohhnyC said:


> Key point here is modern mentality with some of you lot above. OP got himself into debt and needs to simply pay it off not worm his way out of it.
> 
> Lack of integrity boys.


 I'm baffled by this mentality. People are so stuck in the mentality of being useless cogs in a corporate machine that you think it's better to spend 4 years of your life working a job you hate and giving all your money away just so someone will tell you in the end that you're a good boy who paid off his debts? f**k that.

Meanwhile people disappear with 50k debt and go enjoy their lives...


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## 6083 (Jun 21, 2007)

Tomahawk said:


> I'm baffled by this mentality. People are so stuck in the mentality of being useless cogs in a corporate machine that you think it's better to spend 4 years of your life working a job you hate and giving all your money away just so someone will tell you in the end that you're a good boy who paid off his debts? f**k that.
> 
> Meanwhile people disappear with 50k debt and go enjoy their lives...


 Are you implying the OP is clever enough to pull that off 'disappearing'


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## Gary29 (Aug 21, 2011)

JohhnyC said:


> i have had the same, even the overdraft on my mortgage was reduced because I never used it. The way it work is that you are not building up a history of credit (and more importantly: timely paying it off) so your credit risk is being scaled back from good to neutral).
> 
> However I don't need it because I am a bitcoin millionaire and *bench 140 between trades *(in my one bed gypo flat). :thumbup1:
> 
> Do one peasants


 For sets AND reps? If not, get the f**k out of here. Anything other than a proof video it will be presumed you are lying.


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## Smitch (Dec 29, 2008)

wylde99 said:


> 5 Years later and I know only owe 3k to Tesco Credit Card tempted to Bump them.
> 
> Paid off my M&S Credit card of almost £4k


 You've likely paid at least the amount of original debt in fees alone in that time.

Did you not at least get an interest free card at least to transfer the balances on to? You can juggle stuff around like that and still owe the money but not pay the interest, that way every payment you make is actually paying off some of the debt.


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## Lifesizepenguin (Jul 25, 2016)

pay £500 a month off your cards and next year youll be debt free without fu**ing destroying your credit. anyone telling you not to pay is a fu**ing tool.

your debt isnt that bad. providing you sort it out now.


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## Lifesizepenguin (Jul 25, 2016)

jjtreml said:


> Hmmm not really, its just numbers on a computer screen at the end of the day.
> 
> The world will go on and the sun will rise if he doesn't pay back the 3k.
> 
> ...


 It's bad discipline first of all, just sets you up to f**k yourself over in the future.

Best to learn the hard way now and keep that lesson in mind for future purchases.


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## EpicSquats (Mar 29, 2014)

jjtreml said:


> Hmmm not really, its just numbers on a computer screen at the end of the day.
> 
> The world will go on and the sun will rise if he doesn't pay back the 3k.
> 
> ...


 Employer: it's just numbers on a screen

Employee: Ignore what @jjtreml said. I need my wages bitch!


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## monkeybiker (Jul 21, 2010)

Maybe I've got it wrong but I seem to remember you saying you and your girlfriend both have a full time job and no children?

Unless you have a massive mortgage that 3k should be easy to pay off even if both of you are on minimum wage. Stop buying stuff you don't need, cook more and have less takeaways/eating out food. Don't buy clothes if you don't need them. Do you use comparison sites for car insurance/energy bills? If you have sky tv do you actually need it? Broadband , could it be cheaper. I've just changed my broadband to a slower download speed and reduced my bill and not noticed any difference so I was wasting money all that time.

Can you do overtime at work?

Credit cards are like a tax on the stupid, get rid of them. Yes I know some banks offer 0% but they do that hoping you will build up a debt and then a year later or whatever it is they start charging you 20% APR.


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## Tomahawk (Dec 24, 2014)

Smitch said:


> You've likely paid at least the amount of original debt in fees alone in that time.
> 
> Did you not at least get an interest free card at least to transfer the balances on to? You can juggle stuff around like that and still owe the money but not pay the interest, that way every payment you make is actually paying off some of the debt.


 Everyone always says this; but can you really get a fresh new 0% credit card with a decent limit when you already maxed out your previous cards and have 5k debt?


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## 6083 (Jun 21, 2007)

Tomahawk said:


> Everyone always says this; but can you really get a fresh new 0% credit card with a decent limit when you already maxed out your previous cards and have 5k debt?


 If you've always made payments yes,


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## darren.1987 (Jan 2, 2013)

Tomahawk said:


> Everyone always says this; but can you really get a fresh new 0% credit card with a decent limit when you already maxed out your previous cards and have 5k debt?


 depends on your credit score.

if you've ever missed payments.

what your total amount of credit limit is on all cards etc.

not as simple as them giving 0% to everyone who has maxed out all their credit already


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## cuggster (Aug 3, 2011)

go to your bank and speak to an accounts manager and get them to help you, they are there to assist with financial difficulty.


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## Smitch (Dec 29, 2008)

Tomahawk said:


> Everyone always says this; but can you really get a fresh new 0% credit card with a decent limit when you already maxed out your previous cards and have 5k debt?


 Yep. I had 14k debt across 2 cards but earned decent dough so was still good for the money effectively. Never missed a payment, had a mortgage etc so effectively was a sound bet to lend more money too.

They're a business right, so as long as they think you're good to keep up the repayments then you're still a good customer, as most people won't pay the debt off in the o% period so will end up paying interest in the end and continue to keep paying it.

They obviously won't lend to people that are likely to miss payments and bail though.


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## monkeybiker (Jul 21, 2010)

Smitch said:


> They obviously won't lend to people that are likely to miss payments and bail though.


 They did with mortgages.


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## Smitch (Dec 29, 2008)

monkeybiker said:


> They did with mortgages.


 That's a secured loan though, it's secured against the property so less of a risk.

A credit card is an unsecured loan, it's just based on your ability to pay it back.


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## 6083 (Jun 21, 2007)

monkeybiker said:


> They did with mortgages.


 Not anymore they dont


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## monkeybiker (Jul 21, 2010)

GTT said:


> Not anymore they dont


 Give it enough time and they'll do it again.


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## Smitch (Dec 29, 2008)

monkeybiker said:


> Give it enough time and they'll do it again.


 They probably will soon enough.

I got a mortgage here in Australia having only been here 8 months and being in a job 2 months and on a bridging visa. I had a decent deposit but no credit history at all and could be booted out at any time.

The mortgage lenders rely on the market going up, so as long as that's the case then it's BAU for them, from what I've seen the UK market has slumped a little though lately so I'd assume that only people with a decent deposit will get loans currently.


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