Every month my salary just pays for my debts interest

[Buthson]

Nowadays I got a debt about 12000$. Every month, my salary just pay for the debt's interest. The debt will be more and more if I can't have money to pay for the capital. I want to borrow money from bank, but I don't have my own house. Do u have any advice for me? I want to get a charity loan and get my repayment back like the bank process. I got my salary about 800$ per month. Please reply soon. Thanks.

[Niobe]

Hi and welcome.

If you are looking at taking out further credit then you will probably just end up in deeper trouble.

Why don't you look at trying to seek out a debt solution such as an IVA, DMP or Bankruptcy.

Visit www.iva.com for a list of companies and reviews and give one or two a ring for a some free advice.

[oscar]

Hi Buthson
Please ring 2 reputable IVA companies for advice, I was with Debt Free Direct and Melanie Giles on this forum comes very highly recommended. Do not take out further credit it might stop you from getting an IVA or whatever solution is there for you, because there is always a solution, go on pick up that phone after looking at iva.com as Niobe suggests, you'll be glad you did it.Do it now and you will start to see a way foreward.
Oscar

[MelanieGiles]

How much do you think you could afford to set aside each month to cover your debt repayments comfortably, Buthson?

[Buthson]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

How much do you think you could afford to set aside each month to cover your debt repayments comfortably, Buthson?

I just need 12000$ to pay all my current debt, because it has a high interest rate that's why my salary could not support this my payment. The debt has come from my mother illness (uterus cancer). It make me need alot of money to cure her. Then, I have borrowed money from other, but not the bank. If I could borrow money from the bank then, I won't be difficult. Because private debt, they just take me the interest until I pay them back the capital. So please help me to find a solotion thanks.

[MelanieGiles]

I appreciate that you owe £12,000 in total - but how much do you feel you can afford to pay each month towards those debts or to a loan if you could get one to pay them off in full?

[Buthson]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

I appreciate that you owe £12,000 in total - but how much do you feel you can afford to pay each month towards those debts or to a loan if you could get one to pay them off in full?

I want to pay them back 300$ each month. If more than 300$ I will make me difficult again. Is it possible?

[oscar]

Go on Buthson pick up the phone to Melanie's Office and speak with Melanie or Tina Shortland for advice.The amount you are proposing to repay would sound more than reasonable to me if the money was owed to a bank but you say it is not so I am unsure because of this.They will need to know who you owe the money to so make a note of what you want to say (incase you get nervous on the phone then you can read from it and give them a call). My dad has cancer and I am thinking of you and your family at what must be a very stressful time.
Oscar

[Niobe]

You do need to speak to a couple of companies and they will go through your income and expenditure with you to see how much you can afford to pay a month once your priority expenses have been dealt with.

How many creditors do you have in total?

[MelanieGiles]

If you can afford a payment of £300 per month, and your debts are only £12,000, then it may be a case of contacting your creditors directly to see if they would accept lower payments, or perhaps looking at a DMP.

What is the total of the monthly minimum repayments to these creditors that you are obliged to make at present?

[Buthson]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

If you can afford a payment of £300 per month, and your debts are only £12,000, then it may be a case of contacting your creditors directly to see if they would accept lower payments, or perhaps looking at a DMP.

What is the total of the monthly minimum repayments to these creditors that you are obliged to make at present?

Every month I got money from my salary is about 500$, but I have to spend more than 300$ to pay for the interest. Just interest only. That's why I am searching for a loan 15000$ with low interest and the repayment method like the bank, so then I could solve my debt soon in about 5 years if the repayment period is 5 years or more. Beside this interest, I have to spend money to cure my mother from uterus cancer. That's the problem. Please help me in the name of human being. Thanks u in advance.

[Buthson]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Buthson

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

If you can afford a payment of £300 per month, and your debts are only £12,000, then it may be a case of contacting your creditors directly to see if they would accept lower payments, or perhaps looking at a DMP.

What is the total of the monthly minimum repayments to these creditors that you are obliged to make at present?

Every month I got money from my salary is about 500$, but I have to spend more than 300$ to pay for the interest. Just interest only. That's why I am searching for a loan 15000$ with low interest and the repayment method like the bank, so then I could solve my debt soon in about 5 years if the repayment period is 5 years or more. Beside this interest, I have to spend money to cure my mother from uterus cancer. That's the problem. Please help me in the name of human being. Thanks u in advance.

I am first just need 12000$, but now I mother need to get more injection to secure her life. What should I do? I have borrowed money from my teammates, but they are not my close friend, so they just think about the interest, just give them high interest, they will lend me money. What now my debt is getting higher and higher because of this debt. I work for Cambodia International Airport, I got a bank account, but the bank did not lend me money because i don't have collateral. My mum got a house, but she has already borrowed from money from the bank since her illness is not yet serious and now she gets sick, so everything is under my responsibility like: my five younger brother study fee and their payment, my mom injection fee, the bank interest, my debt interest, so how could my salary support these? But everything will be alright if I could pay off my debt. Please someone help me, I will never ever forget you help. Thanks to everyone.

[oscar]

Oh Buthson

You have such big shoulders at the moment. I am praying that your mam’s health gets better.

Please excuse me, but if I were you I would remove the name of your employer from the above post – just to protect your anonymity on the forum.

I know it is so hard to pick up a phone and talk to someone about this, but if you can build up the courage to do it you’ll start to see a way forward.

I can’t help but wonder, if it is your team mates who loaned you the money and you appealed to their better nature, would they consider cancelling the interest?

I am wondering how many of these team mates do you owe money to and in what proportions? I ask this because if you owe it to e.g. 3 people and got together with them do you think that collectively they might agree to cancel the interest and put a new arrangement in place even?

I am sure that if you actually speak with a company as suggested, they might be able to see possible options for you more clearly after getting more facts from you.

Buthson are you in England? I ask this because, in England in some localities, there is a service called Welfare Rights, usually if you ring your local council they will give you the number. They can do a free benefit check for you to see if there are any monies that your family could be entitled to that you are missing out on or may not know about. I am thinking about things like disability living allowance, assistance with college fees etc.

In addition, if in England I would suggest you approach social services and get a social worker on side for your mam. Also make an appointment with her GP and say your mam needs this medication and tell them you are requesting a second opinion if they refuse. (Often medication is not prescribed if someone is older and although it is totally unfair politics plays a role and the size of the GP’s /NHS budget allocation).

Buthson, please excuse my ignorance here because I do not know all the information, but you know when your mam goes to the doctors, is she clearly understood and does she clearly understand what is said in English Language terms? I ask this because if she does not sometimes there are specific translators who you can ask the doctor to have present at appointments to ensure successful communication. (in the north East there is even a specifically designed doctors practice who use translators every day for their patients and it does not cost the patient anything for this, they just request a translator at the time of booking their appointment)- just a thought

You really need some expert advice and quick. Go on grab the bull by the horns please.

Oscar

[Niobe]

Buthson - are you actually based in the UK? Are your debts based in the UK?

If you are based in Cambodia then I don't think anyone here will be able to help you.

[Buthson]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by oscar

Oh Buthson

You have such big shoulders at the moment. I am praying that your mam’s health gets better.

Please excuse me, but if I were you I would remove the name of your employer from the above post – just to protect your anonymity on the forum.

I know it is so hard to pick up a phone and talk to someone about this, but if you can build up the courage to do it you’ll start to see a way forward.

I can’t help but wonder, if it is your team mates who loaned you the money and you appealed to their better nature, would they consider cancelling the interest?

I am wondering how many of these team mates do you owe money to and in what proportions? I ask this because if you owe it to e.g. 3 people and got together with them do you think that collectively they might agree to cancel the interest and put a new arrangement in place even?

I am sure that if you actually speak with a company as suggested, they might be able to see possible options for you more clearly after getting more facts from you.

Buthson are you in England? I ask this because, in England in some localities, there is a service called Welfare Rights, usually if you ring your local council they will give you the number. They can do a free benefit check for you to see if there are any monies that your family could be entitled to that you are missing out on or may not know about. I am thinking about things like disability living allowance, assistance with college fees etc.

In addition, if in England I would suggest you approach social services and get a social worker on side for your mam. Also make an appointment with her GP and say your mam needs this medication and tell them you are requesting a second opinion if they refuse. (Often medication is not prescribed if someone is older and although it is totally unfair politics plays a role and the size of the GP’s /NHS budget allocation).

Buthson, please excuse my ignorance here because I do not know all the information, but you know when your mam goes to the doctors, is she clearly understood and does she clearly understand what is said in English Language terms? I ask this because if she does not sometimes there are specific translators who you can ask the doctor to have present at appointments to ensure successful communication. (in the north East there is even a specifically designed doctors practice who use translators every day for their patients and it does not cost the patient anything for this, they just request a translator at the time of booking their appointment)- just a thought

You really need some expert advice and quick. Go on grab the bull by the horns please.

Oscar

My mother used to ask me to ask them to stop taking me the interest and pay them back the capital money, but I know It is impossible for them, because they are businessmen. I am not living in UK. I am living and working in Cambodia (Kingdom Of Wounder). Every month when I have to find more money to pay all the payment. It is very difficult when the income is lower than payment alot. Do this world has no someone to help me?