Statement of affairs, advice please

tryingtobreakfree

can someone help me, i need to work out the best way to clear my debt and work out how much to pay each creditor and estimate when i will be out of bebt. This is my SOA

Wages after tax £1800 (also geting on call money this month not sure how much it works out to yet)
Car - payment monthly £265.86
HSBC loan payment monthly- 318.90 (ends april 2011)
Car insurance £50.80
Phone bill £70

HSBC OD total -1354.47
Natwest OD total - 1346.49

Barclaycard total - 233.45 (27.9% APR) (could pay and close this next friday and use the on call bonus) Min payment £5

Mint card total - 3124.85 (14.9% APR) Min payment £72

MBNA card total - 3784.45 (34.9% APR) Min payment £108.74

Capital One card total - 3573.04 (30.59% APR) Min payment £176.00

Natwest card total 1392.17 (13% APR) Min payment £31

I am managing to make at least min payments (most months more) on each card but I realise this debt is getting out of control now, especially as i am only 23, I have no family to turn to for help either.

Thanks in advance

LilacPixie

Can you put all the information in the above calculator alond with everything else please Soa Calc. you can then copy the results to this thread . It makes it so much easier to read and therefore help you.

How is you payment history with Barclaycard?? if you pay it off on friday do you think they would let you do a 0% BT for some or all the MBNA card?? if they let you shift the lot to either 0% or a low life of balance apr then you could then try to see if mbna would for the same with the cap 1 card.

GeorgeUK

That is a fair amount of debt, but not unmanagable.

Do as LilacPixie suggests and post up a statement of affairs and hopefully we'll be able to point out some areas from your current expenditure where you can save money.

It's good that you are concerned about controlling the debt. As long as you can recognise that something needs to change, the actual change should be easier. If you got into this position by overspending, shopping or going out all the time, this also needs to be looked at so you don't just get back into debt once it's cleared.

Have a look at the snowball calculator for an idea of how long it may take to pay off your debts and the amount of interest you will pay overall. There are a few things we can do to reduce this even more, but we'll need to wait for your SOA.
https://www.whatsthecost.com/snowball.aspx

Good luck and welcome to the board.