Owed 60k help

J

JFK1985

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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???
 
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.
 
What would be the worst thing happen to me if i cant settle down and they selling my debt to collection agency
 
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?
 
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?
 
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...
 
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.
 
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.
 
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.
 
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
 
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.
 
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 :D 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...)
 
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.
 
JFK1985 said:
I got a phone call deal is done.
At least some pressure is of me.
Click to expand...

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