where do i start

tryingtobreakfree

I have a mountain of debt over 5 credit cards, 2 over drafts and 1 loan. I dont know how to start to manage this, i also have a student loan.

I want to get out of debt. i probably cannot get a loan from a reputable company, i live with parents and am 23. Does anyone have any advice?

OliveOyl_2

Starting point is coming here Well done and welcome

Next is a SOA.
Have a look at the sticky at the top of this board.
You're going to list all your financial income and outgoings and the good peeps here will offer opinions and advice and then you're going to settle down and clear your debt......if you really want to. (it isn't always easy )

riquelme

hiya mate

ive started a thread on something similar, take a look at that ive received some good advice, im as scared as you mate

gd luck

LilacPixie

Getting another loan is never a good idea so put that thought out of your mind right away.

Firstly you need to find out exactly what you owe where, what the minimum payment is and what the apr's are. Secondly you need to look at your incomings and outgoings to see where you can make savings. Thirdly look at the posibility of making extra cash. fourthly look at the snowball calc at whatsthecost.com add in all your debts apr's minimum payments and what you can afford to pay over all and it will tell you what to pay to what creditor to pay the least interest and clear the debt asap.

jenjade

post a statement of affairs so everyone can see what cards on what aprs etc and if there is anywhere you can cut you spending to pay extra.
also you could look at the up your income board there are some ideas on making extra cash. ebay carboots ect but what helped me most was to make a signature with my dent and join a challange to make extra money to pay off extra. also i have stopped any un needed spending and cut back a lot
go througfh all you standing orders and direct debits cancels gym memberships etc i saved £30 a month canceling standing orders

msmicawber

Hi and welcome. You may find this useful as it's an online wizard thing for producing a statement of affairs: http://www.makesenseofcards.com/
Once you've completed it, post the results here and we can see what your next steps should be.