Whitesupraboy2 Posted August 12, 2006 Share Posted August 12, 2006 it's all my fault , i wanted the best cars when i was 17 and 18 and i'm paying for it all now,, most of the money went on insurance for my first cars.....what a prick not a prick mate loads of youngsters do it. you just have to pay it back thats all. seriously sort yourself out, sell the cars give it a year to get use to paying it back work out how much spare cash you have a month and save for a NA supra again. Link to comment Share on other sites More sharing options...
Pete Posted August 12, 2006 Share Posted August 12, 2006 it's all my fault , i wanted the best cars when i was 17 and 18 and i'm paying for it all now,, most of the money went on insurance for my first cars.....what a prick Don't get depressed about it. It's only money! You still have your health don't you? Friends? Family? It'll all work out mate, you just need to make some hard choices. Link to comment Share on other sites More sharing options...
michael Posted August 12, 2006 Share Posted August 12, 2006 What about a 2nd job to take the edge off things? Cancel the gym membership and take a job doing something active so that you get paid for exercise. Link to comment Share on other sites More sharing options...
supra-lover Posted August 12, 2006 Author Share Posted August 12, 2006 Don't get depressed about it. It's only money! You still have your health don't you? Friends? Family? It'll all work out mate, you just need to make some hard choices. just got off the phone to abby credit card they was very helpfull indeed, just paid my late fee for that...i must admitt though it all went down hill when my bro died last year, after that i didn't really give a shit about nothing, bought everything i really wanted i.e supra to try and cheer me up a bit so thats why i don't want to get rid of it really Link to comment Share on other sites More sharing options...
dangerous brain Posted August 12, 2006 Share Posted August 12, 2006 I like the way the advice along the lines of heres info on how to get out of this easy is being asked about but not the advice about paying this off Like a number of guys here have said SELL THE DAMN CAR. Its leeching your monthly assets. The cost of running these cars is more than the ticket price you pay when you buy it. The petrol and day to day costs such as insurance, tax etc are so much higher than say a £500 peugot 306 diesel will be. Lets play devils advocate here. What will happen to you if today you go out to your car and someone has done 2 of your 4 tyres? They are a hundred odd quid a pop. What if a major mechanical component goes? THIS CAR IS A MILLSTONE ROUND YOUR NECK, you just cannot currently afford it simple as that. Its only a bloody car at the end of the day. Its so not worth the aggro. Your quality of life without it will far outweigh the downside of not having it. Link to comment Share on other sites More sharing options...
Pete Posted August 12, 2006 Share Posted August 12, 2006 i must admitt though it all went down hill when my bro died last year I am very sorry to hear about your bro. Put my foot in it there didn't I? (I'm good at that) Link to comment Share on other sites More sharing options...
supra-lover Posted August 12, 2006 Author Share Posted August 12, 2006 I am very sorry to hear about your bro. Put my foot in it there didn't I? (I'm good at that) thats o.k mate no worrys:) my bro absolutiy loved supra's thats one of the reasons why i bought mine,,,,,thats why i want to try and keep it if i can:) Link to comment Share on other sites More sharing options...
Whitesupraboy2 Posted August 12, 2006 Share Posted August 12, 2006 im sorry bout your bro, but its like your ignoring the posts of the obvious! anytime anyone mentions selling the car....you just blank it dont reply, dont ackowledge it ...nothing!! you may not want to sell but i dont think you have a choice Link to comment Share on other sites More sharing options...
supra-lover Posted August 12, 2006 Author Share Posted August 12, 2006 im sorry bout your bro, but its like your ignoring the posts of the obvious! anytime anyone mentions selling the car....you just blank it dont reply, dont ackowledge it ...nothing!! you may not want to sell but i dont think you have a choice i'll give it 2 months, if i'm still no better off i'll sell her:( but i am gonna sort myself out and try pay everything as soon as it comes in.. Link to comment Share on other sites More sharing options...
Whitesupraboy2 Posted August 12, 2006 Share Posted August 12, 2006 i'll give it 2 months, if i'm still no better off i'll sell her:( but i am gonna sort myself out and try pay everything as soon as it comes in.. id personally get it up on the market, think of it like this, sooner you sort yourself out and pay it off, sooner you can have a supra and not worry bout where the next £10 gonna come from for petrol. I really dont think you have an option. You could let yourself keep the bike as they are less to run i guess. Link to comment Share on other sites More sharing options...
supra-lover Posted August 12, 2006 Author Share Posted August 12, 2006 id personally get it up on the market, think of it like this, sooner you sort yourself out and pay it off, sooner you can have a supra and not worry bout where the next £10 gonna come from for petrol. I really dont think you have an option. You could let yourself keep the bike as they are less to run i guess. i still havn't got the log book for it yet mate, so i cant at the mo Link to comment Share on other sites More sharing options...
Pabs Posted August 12, 2006 Share Posted August 12, 2006 Hope you get it sorted mate, but seriously, all this talk about bankrupcy etc on radio, tv etc, its not the option you need. You are NOT in that much debt - between me n my girlfriend we have a 90k mortgage, a 15k loan, a 20k student loan, 2k+ on credit cards etc.... We just watch the money - and spend it in the right places. I DON'T own a supra yet (and its killing me - would have got one ages ago if i could) but I'm saving money every month to pay off the cc's, and then for a house (so we can sell the flat)... Its a case of getting priorities right. Supra's, bikes, beer -> to me they are all a nicety, and not a necessity. Good luck mate, i'm sure it'll all work out for the best! Link to comment Share on other sites More sharing options...
Bobbeh Posted August 12, 2006 Share Posted August 12, 2006 How about selling your car to start paying off your debts? Its crazy owning a gas guzzling Supra if you're struggling for money, sell it and get a diesel micra for starts! Link to comment Share on other sites More sharing options...
Tourniquet Posted August 12, 2006 Share Posted August 12, 2006 I was about £70k in debt at one point and considered bankruptcy. I ended up going to Spectrum Financial in the end. They basically wrote off my debt and now give my creditors £1 a month each by direct debit for 5 years. In this time I'm supposed to save money now my wages are mine and at the end of the term pay an agreed % of the debt to them ranging from 10-30% for example. If I can I can chip away at smaller bills as I go then that all helps but if after 5 years I can't do it, I then do it for another 5. Look into it, the only thing bad about it is you get 3 non payments on your credit history but mine was so fucked I didn't care. You can then build it up again as you go. Bankruptcy fcuks you for 6 years in terms of mortgages andfinance people won't touch you but I'ver heard it carries on long after that to. Now I'm out of debt I don't need credit so it worked out great for me. Link to comment Share on other sites More sharing options...
Clarkey Posted August 12, 2006 Share Posted August 12, 2006 As everyone else has said - flog the car, bike etc. Then consoldate the rest of the debt to a more a manageable payment. You said you're got £15k + £3500 on cc's. Assume you get £5k for your car & bike. At a typical APR of 7.9 % - for a £13500 loan over 4yrs - the monthly payment is £393 inc payment protection. That's from Egg. I'd say that would be good step to solving your problems. And cancel your credit cards. Or you get a higher paid job! Link to comment Share on other sites More sharing options...
grahamc Posted August 12, 2006 Share Posted August 12, 2006 or a 2nd/weekend job... even 50 quid a month will make a difference. Link to comment Share on other sites More sharing options...
supra-lover Posted August 12, 2006 Author Share Posted August 12, 2006 Hope you get it sorted mate, but seriously, all this talk about bankrupcy etc on radio, tv etc, its not the option you need. You are NOT in that much debt - between me n my girlfriend we have a 90k mortgage, a 15k loan, a 20k student loan, 2k+ on credit cards etc.... We just watch the money - and spend it in the right places. I DON'T own a supra yet (and its killing me - would have got one ages ago if i could) but I'm saving money every month to pay off the cc's, and then for a house (so we can sell the flat)... Its a case of getting priorities right. Supra's, bikes, beer -> to me they are all a nicety, and not a necessity. Good luck mate, i'm sure it'll all work out for the best! bloody hell mate i'm not that in the shit as i thought then he he na i'm gonna start getting on top of this matter now and deal with it.. NOT selling my supra but i'm gonna use the 5k i got for my bike to pay my credit cards off, just meens i cant buy my aprilla Link to comment Share on other sites More sharing options...
Dave Posted August 12, 2006 Share Posted August 12, 2006 have a look on here mate its a start http://consumercorner.co.uk/forum/index.php Link to comment Share on other sites More sharing options...
SteamAhead Posted August 15, 2006 Share Posted August 15, 2006 Mate sort out your debts NOW!!! I was in your amount of debt few years ago, since then it's doubled to £32,000 & I've now got to the point I can't cope. Also I've just turned 30, just got married, not a very clever situation to be in when my life is going so well. I went & got advice from the CAB & they said I have 1 of 3 choices. 1: Do nothing, struggle for a few more months then start getting the letters then the bailiffs. 2: Work out incomings outgoings, see what's left, then go through the motions of paying back % each month that you can afford & the debt people agree on. But this can take many years. 3: Go bankrupt. After 1 year all debt is wiped & your clear, will be on points record for about 6 years. Afraid for me number 3 is my better option, happening in 3 weeks I don't own a home, my only expensive asset is my supra. But I hope to sell that this week for a cheaper motor (as still need car for work) the money left over I'll offer as asset. It's horrible thing debt, but you have to face up to it that if you get that much in shit you have to grow up & face the consequences. Don't leave it to late. Sort it. Do wish you luck, but do work out your finances properly & decide if you really can afford to run a supra on current wages? Also try not to keep re-negotiating loans, as over time it can get worse, that's what got me in this mess. (long story) Again, good luck let's hope like me ya learn Link to comment Share on other sites More sharing options...
martin_a Posted August 15, 2006 Share Posted August 15, 2006 Abbey are known bastards. Speak to them and explain they are making it worse. Banks are currently being investigated for excessive charges so stick that to them, get the late money back and see if you can't get an agreed overdraft with them to stop the penalties. If all your payments come out at the end of the month when you have no cash then move them to pay day so they are covered off and then live on beans for the rest of the month! At least you'll know what you have to spend. If you do have a bike why are you not going to work on it? I take the bike as much as possible, simple really - bike 0-60 3.5secs and cuts through traffic like a hot knife through butter and 45mpg versus Supra which just sits in traffic and takes half an hour longer to do same journey at 20 something mpg. m. Link to comment Share on other sites More sharing options...
Thorin Posted August 15, 2006 Share Posted August 15, 2006 Blimey I think I should file for bankruptcy then! Get a consolidation loan to pay everything off, then you just run up your credit card bill again Link to comment Share on other sites More sharing options...
Charlotte Posted August 15, 2006 Share Posted August 15, 2006 I thought you couldn't get a UK bank account etc for 4 years if you had been bankrupt? Link to comment Share on other sites More sharing options...
ross Posted August 15, 2006 Share Posted August 15, 2006 Not read all of the posts mate but i had a lot of monney on credit cards some time ago. around 10k. get one of those interest free for nine months cards. Soon as the card arrives cut it up. At the end of the nine months tansfer the balance to another 0% interest card and do the same. Keep doing it till your debts payed off. Not sure about your other debts but that worked for me with the credit cards. Good luck mate. Link to comment Share on other sites More sharing options...
SteamAhead Posted August 15, 2006 Share Posted August 15, 2006 I thought you couldn't get a UK bank account etc for 4 years if you had been bankrupt? The day after you go bankrupt, you can get another bank account but you have to declare that you've gone bankrupt, if they accept you, they will put you on a basic account (so no overdraft or DD cards just an account where you can have wages paid in & direct debits set up). Once you’re clear of bankruptcy, you can then go on to a normal account again, but that is after a few years or at banks discretion. Must admit, I have been having doubts, but I've done a lot of research & can only see this as the right way to go FOR ME . Anything less than £20,000 I would not see the point (unless you lost ya job) Link to comment Share on other sites More sharing options...
TLicense Posted August 15, 2006 Share Posted August 15, 2006 Unless something happens like you loose your job or one of the contributers to your household stops contributing for a serious reason, I'm sorry, but I think choosing to go bankrupt is the lowest thing you can do. You agreed to take on the debt, now because your fed up with paying you want default on the payments? Tough shit. Pay up. Not that it's a pissing contest, but I've accrued more debt than anyone has mentioned so far on here, and still owe a reasonable amount of it, I'm saying this so you know I'm not talking from a moral high ground and I know what it's like to be in debt. But as I was agreeing to the credit, I did a check to make sure I could afford to pay it each month, and leave myself a reasonable amount left over. You didn't do this? Oh well, beans it is again for you tonight! You accepted the credit, now be a man and pay it back. It sucks I know, there's been a few times when I've thought "bugger, I wish I had more spare cash, then I could do X" but I haven't, so I go without. I know some people say you only live once and "f*ck it, I'll just go bankrupt and move on" but I'd rather live my life knowing that I'm as good as my word. Sorry if that offends anyone, that's not my intention, it's just my opinion, which if you don't agree with, then don't agree with it. I'll not force it upon you. Link to comment Share on other sites More sharing options...
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