I need cash fast to pay my bills - need urgent assistance

Discussion in 'Personal Finance Q & A' started by Granty, Jul 11, 2016.

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  1. Granty

    Granty Newbie

    I don't want a handout, but I do need cash to pay my bills fast. My rent is due in 7 days and I have some credit card bills I need to pay quickly. To compound matters I people on my back for the money I borrowed from them. Everything is a mess. I want a way out and need help. If I can get some cash fast to pay my bills I would be able to get out of this horrible horrible mess. Please can someone give me a rational way forward.
    Alistair and Simrin like this.
  2. Simrin

    Simrin Newbie

    The first thing you need to do is contact your landlord to let them know you are having financial difficulties. You can write a letter to the landlord if you prefer. Explain that you are having financial difficulties and need more time to pay the rent. You must reassure the landlord that you have every intention of paying but just need a little time.

    You should also call your credit card companies and do the same. Let them know of your financial difficulties and ask them to stop interest and charges for a few months until you get yourself back on your feet.

    You should also do the same with the people you borrowed money from. Be open and honest and let them know you need more time to settle the debt. Once you've got your landlord, credit card companies and debtors off your back you can think about shoring up your finances. Check out the video below on how to delay paying your rent, this should be invaluable.

    Alistair likes this.
  3. Alistair

    Alistair Newbie

    The advice given by @Simrin is excellent. You need to notify your creditors straightaway. You should then list all your income and expenses to see where you can make cutbacks so you can get back on track again. You must be relentless when you make cuts because you need to wipe these arrears away quickly. You should try and cut your expenses by 50% by spending less on groceries, energy, vehicles, clothes, and other luxury items. You can then use the other 50% that you've saved to pay off the rent, credit card arrears and personal debt.
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