BIG DEBT - Help appriciated

inarightpickle_2 · 13 August 2012 at 2:19PM

Hi There and thanks for taking the time to read.

For a number of reasons my level of debt has become unmanageable and its spiraling out of control.
Basically I want someone with experience/know how to tell me the best option to take as Im a little naive when it comes to things like this. Debt as follows

Northern rock mortgage (int only) £700pm ( £170,000)
Northern rock loan £250pm ( £29,500 )
Natwest Loan £180 pm ( £7500 )
Natwest overdraft £100pm (£5000 )

There the main problems. I have to young children that cost the earth to along with all other living bills taxes etc.

After tax I take home around £1800 per month.

Any advice would be greatly appriciated - please no jump in the river types.

Many thanks:(

rising_from_the_ashes · 13 August 2012 at 2:39PM

Welcome .... you've come to the right place for advice & support.

First step would be to post a full SOA so that we can see exactly what's going in / out and see if there's any areas for cutbacks:

http://www.makesenseofcards.com/soacalc.html

DCFC79 · 13 August 2012 at 2:44PM

We dont jump in the river but i do suggest doing an SOA.

BIG DEBT - Help appriciated

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