# Owed 60k help



## JFK1985 (23 Nov 2016)

I owed a bank 30k personal loan and 30k credit cards.
I havent miss a payment yet, but it is coming soon.
Lost a contract on couple jobs and my works are dropping to 50%.
I am self employed and have an average 1600 income per month.
What can I do if i cant pay the bank finally???


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## moneybox (23 Nov 2016)

Go speak to your bank and see if both the credit card debt and personal loan can be consolidated into one loan and a restructure of payments arranged.


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## JFK1985 (23 Nov 2016)

What would be the worst thing happen to me if i cant settle down and they selling my debt to collection agency


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## Brendan Burgess (23 Nov 2016)

There isn't that much that the lender can do if the debt is not secured and if you have no assets. 

If you provide all the following information, you may get some useful suggestions. 

* Information required for mortgage arrears and negative equity questions*

Brendan


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## vandriver (24 Nov 2016)

First things first,do you own any assets?
Is you business bank account with the same lender as the credit card and personal loan?
Have you talked to the bank about some kind of restructuring?
Are you up to date on your tax/vat?
And the big question-at €1,600 a month is it time to give it up and look for a job?


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## Bronte (24 Nov 2016)

JFK what did you spend the credit card debt on?  By any chance did you withdraw cash on that to pay the personal loan? 

Are you really making €1600 a month?


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## JFK1985 (24 Nov 2016)

I was making more but lost contracts and i got my assesment of 2015 and get shocked after payed employees and expenses for a business my clear profit 27k and i had to pay 6k income tax for that. That is no problem to pay the tax cause i set up with tax office to held 20% every single on my payments. Soni always keep enough credit to pay my tax. I only have a car worth 3k in my own name. I have never opened a business account for my life, just used a current account to feed my business. It is a tiny little decorator business. You will ask why do i have 3 employees. I have small contracts which are has to be done in 2 days because theyre urgent. All my employees works for me just 2 days a week average. I was helping a This post will be deleted if not edited to remove bad language loads of people through my life and i was always very well controlling my life. Untill i start sportsbetting last year and lost everything. When you lose money cant think and just wants to win it back...


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## vandriver (24 Nov 2016)

It's outside the remit of a site like this,but have you got help for your gambling addiction?


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## moneybox (24 Nov 2016)

JFK1985 -  there is much more awareness around the issue of gambling these days and there are some great  organisations out there who will help you.  It's vital you now reach now for this help.

Make an appointment to speak to someone in the bank, they can't take blood from a stone and all you can do is pay what you can afford.  Take care of yourself.


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## JFK1985 (24 Nov 2016)

Yes, i stopped and foccusing on repair my life. I was betting worth 200k this year and i was winning 170k thats is why i killed my creditcards. That is another story but i exactly know how this bookmakers cheating and manipulating people, once i back to life i will fight for them but at moment i have no enough power to fight against them. But during my gambling period i collect enough proof to bring them court in future. First i just have to sort out my on life.
Also a quick question:

OUR EARTH OWES 152k billion dollar, but who do we owe? To the jupiter or the mars?

That was just a quick hint into my topic. I will also share all my experience in facebook videos and youtube channel just to give more chance to other people how to get better possibility to fight against gambling websites. I might could make money out of it, cause this informations could cost thousands or more each people. 

But go back to the ORIGINAL QUESTION: and see what would be the worst thing to happen to me?
I will try to settle with my bank tommorow to make the hole debt into 1 loan and let back to me to work and they will have a regular 400-500 payments of me for a long term.
Or if we cant settle down will they sell my debt to a collection agency for we say 10%!
Or the sherriff could come out to my rented accomodation and take my pants and my pair of jeans. That could cause more stress for me and that is not going to help both side.


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## Bronte (24 Nov 2016)

JFK you need to calm down.  You are in rented accommodation so one takes it you have no assets.  Looks to me like you're a hopeless case for the bank and credit card company.  I suggest you go and visit Mabs.

Stop stressing, they don't send out Sherrif's to get clothing.  Nor your old car.  If you had a Picasso that would be a different matter.

As for your gambling problem.  You can forget your time suing the bookmakers.  You knew what you were doing and the whole point of them is for you to lose money.  As anotehr poster mentioned you need to go and sort out your addiction.  None of us on here or anywhere can help you in this, it is up to you do do so.  As a first step have you closed down your betting account?  Also if they send you 'offers' etc, block this in your email or whatever other system them come in on.  Second step is to forget about suing them and let it go. Third step is to seek help.


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## JFK1985 (24 Nov 2016)

Lets go back again. I still feel have to help another people with all my experience to make them smarter and either dont gamble or loose less cause with that i will make less income for those websites. It is a simular thing as banks. If they cant push you for a loan they dont make money, cause all their money comes from interest generating virtual money from nowhere and givin out to you. But i am pretty sure you know all about thesething as regards giving advice for many people


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## so-crates (24 Nov 2016)

Always best to sort yourself out first. Get help for your gambling issues rather than fighting it alone. When you have yourself sorted out then you can start thinking about how best to help others.


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## JFK1985 (25 Nov 2016)

I did first steps aready in last couple days. I delete myself from every website which ever used for betting. 
I have to mention if i am sick i could use another 14-15k from my current account overdraft. I have an access to family members bank account which is nearly 20k.
I had never take a penny from anybody else account to make bets. I have never ever asking anybody to give me a loan for betting.

I also contact to my bank yesterday. Explain them the hole situation and ask them for a help. My hole debt are 57k. They collect all the information from me of my income and assets(wihich is nothing).
After thet everything happen so quick and they work hard on it. The offer from them which is not approved yet monthly 680 euro for 12 years, that means i have to pay back an extra 40k interest based on 8.9% apr.

I am still freaking out because i dont want to live my life with a stress what happens if i cant get a job after 3 years.

If my parents could sell the house for 30k abroad. Would that be possible to pay a bank 30k and settle down finally.

I will be 43years old when my loan is payed otherwise and have no life.

I mean: Is this the life???

How can some people owe millions and walk away? Usually they lose millions officaly but behind a scenes they were making double of it. These things was the reason for me to start other risky things to make myself and my family a better life. I never going to drop my life away for money. Money is not important for life, money can be replaced. Actually i hate money. I have been working for guys who has millions on bank accounts and 10 property, but.... i never see a smile on there face. Always just a stress. They were making 10k a week but they just want more and more and after that when they were make 5k profit, they felt loosing money  which is a joke. Excuse me for sharing these information but i feel i have to givin out of myself.

If you have mote advice or opinion please do not hesitate.


JFK(last person in world fight against...)


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## JFK1985 (25 Nov 2016)

I got a phone call deal is done.
At least some pressure is of me.
I dont need to pay a penny of interest on my purchases. They put all my debt into one loan which is 57k on 9% APR. 12 years a bit scarry for something But if i leave my credit card alone it could be more with all the interest and penalties.


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## moneybox (25 Nov 2016)

JFK1985 said:


> I got a phone call deal is done.
> At least some pressure is of me.



Glad you feel some relief from stress of it all. Maybe at later date you can go back and renegotiate the terms of the loan. Alot of merit in what you said above, if you owe millions you get away but the small man is always caught


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## emeralds (25 Nov 2016)

That is great that the bank has responded to you so quickly and with a deal that takes some of the pressure off you.


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## JFK1985 (26 Nov 2016)

Of course they were respond. I called them first, and to be honest do they have any more option? NO
My fact was just to win some time. I want to pay it in one year but can not walk in to the bank with 50k and say you found it on street. With stupid credit card interest they could make me owe them a fortune in no time.

Thank you very much all of you for all the help.


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## emeralds (26 Nov 2016)

Make sure that the phone call about the deal being done is followed up in writing.


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## JFK1985 (26 Nov 2016)

It was a recorded phone call both part and documents are coming on monday. Have to send them back wihtin 7days i guess.


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## Bronte (26 Nov 2016)

I wouldn't sign anything without some help.  What exactly are they proposing and at what interest rate. Can you afford it. Would you be better off going bankrupt or seeking advice from Mabs.


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## emeralds (26 Nov 2016)

Have just re-read this. Are you saying that you called them on Thursday and told them about your issues and difficulties making repayments and that they called you back on Friday - 24 hours later - and offered you a deal??


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## trasneoir (29 Nov 2016)

First of all, well done. You're in a bit of a hole, but you're doing a good job digging up.



JFK1985 said:


> OUR EARTH OWES 152k billion dollar, but who do we owe? To the jupiter or the mars?





JFK1985 said:


> How can some people owe millions and walk away?


These are unhelpful lines of thinking. You borrowed money from some people (the bank's shareholders), which means that you should pay them back if/when you can. Complaining about other people welshing on their debts isn't going to help. 

Instead, take that negative energy and direct it 100% toward:
1. Your personal life and psychological wellbeing.
2. €1000 cash savings for emergencies. You won't be able to get any more credit, and you don't want it.
3. Increasing your earnings.
4. Eliminating this debt.

Yes this is an emergency, but you're handling it. There's no need for worry, all you need is focus. This is not a 12 year problem, you are going to crush it in 3, and you're going to enjoy it. You've seen how millionaires can be miserable, and you're going to show them how debtors can be happy.

Don't let the bank damage your calm. If there comes a month when you can't pay in full, let them know (with a smile on your face) that they will be repaid, but they are less important than your electricity bill, so they'll just need to wait in line. If they are impatient, that's their problem not yours - if they force you to go bankrupt, they'll lose 60k and you'll walk away with a clear conscience.


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