Credit Woes

My laptop has given up the ghost, after 7 years of fairly good service.  I bought some components cheaply last year, on the advice of one of our IT people, who installed said components, but it just doesn’t have the capacity to run updated versions of programmes any more.  The hard drive memory is at capacity now with just the programmes I need for college, work, some basic photograph editing software, Skype, and iTunes.  As I use my computer I constantly get warnings about “High CPU Usage“, and the number of time programmes stop responding, leaving me waiting for 3-5 minutes before normal service resumes is beyond counting now.

Alas, I am unable to replace my laptop for one with the necessary capacity; I just don’t have the funds.   I am on a DMP, which prevents me from getting credit, both because my rating is less than poor, and because it would be a breach of the terms of my DMP.  All the money I set aside is already earmarked for various bills that arise throughout the year: car insurance, house insurance, college fees, etc. and my “in extreme emergency” fund.   I most certainly don’t have anywhere near the six months’ of salary most financial advisers say should be set aside for emergencies.  In fact, if any of my creditors find any of my funds in any account linked to their organisation, they empty it immediately, leaving me high and dry.  This has already happened once with my salary: the money was paid into my account, and just one minute later the bank had withdrawn it all.  I had to spend 24 hours at work – I didn’t have the funds to get home, and come back in again – to sort the whole mess out.   Of course, I had to change bank accounts immediately, too.

I acquired my last laptop through one of those internet dongle deals from PC World.  As the deal was through my current mobile network provider, I passed the credit check being a solid customer, but the actual transaction showed as a normal phone contract, not a credit agreement thus avoiding the notice of my creditors.   It was an expensive contract, but at least I had a working laptop.  Unfortunately, those kind of deals no longer exist thanks to WiFi – nobody needs a dongle any more.

I really need to upgrade in order to continue with college, but it will be another 3 years (at the very least, but probably much longer thanks to Halifax) before I can get credit again.

I looked at various methods of acquiring laptops, yet I’ve not managed to find a solution to my problem.

Any ideas?

4 Comments

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4 responses to “Credit Woes

  1. Have you asked the college if they have anything you can borrow long term? Might be worth a try.

    • Hey Potia:

      I am studying long distance with Sabhal Mòr Ostaig (UHI) – hence the need for Skype, audio software, etc – so borrowing from them is out of the question, sadly.

      Work were giving away refurbished laptops earlier in the year, but, by the time I arrived, they were all taken, unfortunately. IT have tried their best with my laptop, but it’s old, and a bit of a cheapie (the phone company didn’t give away high quality laptops) and advised me to upgrade.

      I’m just a bit stuck. All my own doing, of course, for having so much unsecured credit in the first place. `13 years on a DMP is tough though.

  2. 13 years on a DMP seems highly questionable to me. When I moved to Scotland I brought a lot of debt with me from my marriage breakdown. I went under a trust deed and I will be debt free in the new year, 3 years in total. I have a desk top running windows 7 premium along with monitor and keyboard. It could do with some more memory but otherwise it’s A1 if any use?

    • Initially, it was 7 years but the cost of living went up, I had to move to a new property, buy a new car – a workmate loaned me the money which I paid back from overtime and a bonus three months later. Overtime is no longer available, and the colleague has since left the firm. My payments were reduced but there was still too much “spare cash” every month for me to go bankrupt, according to the advice I’ve received from various non-profit, debt assistance organisations. It doesn’t help that one institution – mentioned in my initial post – keep harging interest despite several requests they drop, or reduce it, increasing the amount of time before I am debt free.

      It’s very frustrating when I hear people talk about being out of bankruptcy so soon, and able to get credit again, even if for emergencies.

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