Badly in debt - not sure what to do for the best!

bernieuk

Hello all

I would certainly appreciate any advice. I will try and keep this as simple as possible. I am badly and I am not sure of the best course of action. So, far I am keeping my head above water, barely, and no one is actually chasing me for the money. I clear about £1300.00 per month and my debts are as follows:

MBNA Visa - £11,000.00 (minimum payment £200.00 pm approx)
EGG Visa - £3800.00 (minimum payment £80.00 pm approx)
Halifax Loan £9000.00 (About 8000.00 left to pay - £195.00 pm)

Monthly Rent - £450.00 pm
Fares - £110.00 pm
Various Household bills and Housekeeping varies depending on how much I have left over.

I am struggling each month and as you can imagine is it fairly depressing. My Wife is terminally ill and so I cannot confide in her. Ladies & Gentlemen I am not looking for sympathy just merely stating facts.

I am not sure what to do for the best. Should I go to someone like Payplan? Should I approach the Visa Companies direct?

As I said I would certainly appreciate any advice.

1313

Sorry to be harsh, but the truth is more likely that in real terms you are not keeping your head above water. Other priority debts will be rearing their head, Council Tax, TV Licence, Food, Clothing, Gas, water, electric, etc. ect. Can also add a few hundred pounds to the outgoings.

What age are you and what is your profession?

1313

I see that you are new, if you can go to your private messages.

brummiebabe

You need to check out all of the APRs on the debts. This way, the regulars will be able to give you the best advice re: transferring to different cards etc, with the lowest interest rate. Post these, and a more thorough breakdown of your actual expenses (how much for council tax, gas, electric, food etc etc.) Then people will begin to give you more advice!!

Best of luck with it all!! You've come to the right place!!!

bernieuk

1313 wrote:

Sorry to be harsh, but the truth is more likely that in real terms you are not keeping your head above water. Other priority debts will be rearing their head, Council Tax, TV Licence, Food, Clothing, Gas, water, electric, etc. ect. Can also add a few hundred pounds to the outgoings.

What age are you and what is your profession?

Thank you for replying!

Age - 47

Profession: Computer Helpdesk Technician

deemy2004

bernieuk wrote:

Hello all

I would certainly appreciate any advice. I will try and keep this as simple as possible. I am badly and I am not sure of the best course of action. So, far I am keeping my head above water, barely, and no one is actually chasing me for the money. I clear about £1300.00 per month and my debts are as follows:

MBNA Visa - £11,000.00 (minimum payment £200.00 pm approx)
EGG Visa - £3800.00 (minimum payment £80.00 pm approx)
Halifax Loan £9000.00 (About 8000.00 left to pay - £195.00 pm)

Monthly Rent - £450.00 pm
Fares - £110.00 pm
Various Household bills and Housekeeping varies depending on how much I have left over.

I am struggling each month and as you can imagine is it fairly depressing. My Wife is terminally ill and so I cannot confide in her. Ladies & Gentlemen I am not looking for sympathy just merely stating facts.

I am not sure what to do for the best. Should I go to someone like Payplan? Should I approach the Visa Companies direct?

As I said I would certainly appreciate any advice.

if your credit rating is okay, which it appears - you could look at moving your credit card debt to low for life interest rate offers that range from 4% to 6%. There are loads out there.... Perhaps that will cut your interest payments in half or thereabouts.

ceegee

Poor you and your poor wife. This must be agonising for you...coping with your wife's illness and trying to sort out the debts in secret. I would suggest that you get in touch with the Consumer Credit Counselling Service (link at top of page). You absolutely must get some professional help in addition to the support that you will receive here. You cannot carry the burden alone. The CCCS will help you to work out a way through your debts (free) and although I believe that they have a waiting list for their services, I also understand that in exceptional circumstances they can move you up the list and see you within a matter of days.

:grouphug:

ceegee