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New To This Any ideas on how to start getting rid of my huge debts?
DebtRidden
Posts: 11 Forumite
:eek:
Hi Everyone,
Im new to all this, been looking at the threads but dont understand all the cut down words. haha
I have around 20,000 pounds of debt and want to get rid of it asap.
any ideas please. HELP.
Hi Everyone,
Im new to all this, been looking at the threads but dont understand all the cut down words. haha
I have around 20,000 pounds of debt and want to get rid of it asap.
any ideas please. HELP.
Make £10,000 in 2010 £20.24/ £10,000
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Comments
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Hi
You need to post up a SOA, statement of affairs. ie what you have coming in each month and goingout each month, that means everything....
Then we help advise you where you can cut down / back / change to 0% interest etc.....Breast Cancer Now 100 miles October 2022 100 / 100miles
D- Day 80km June 2024 80/80km (10.06.24 all done)
Diabetic UK 1 million steps July 2024 to complete by end Sept 2024. 856,000/1,000,000Sun, Sea0 -
Hi Debtridden,
First of all put together a budget, from this you will be able to see if you can meet your monthly commitments. If you can, you may wish to look at the snowball calculator (someone will send you a link as I don’t have it).
If you are struggling and don’t have enough to meet all your priority payments and debt repayments you will need to cancel all your direct debits for your non priority debts and offer a reduced goodwill gesture payments.
You will also need to find out a long term solution i.e. if you were to make reduced payments how long would it take?? Is there anyway you can cut back on things in your budget? Can you increase your income? You need to look at all the different angles.
If you need any help completing a budget and seeing what your options are, you may wish to use the CCCS online debt advice facility Debt Remedy as it only takes a couple of minutes to complete.
SarahI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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maybe look at the up your income board there is no quick fix but if you can make more money that would help:j Proud mum to Jade age 10 years and Baby Ellie born Christmas Day:eek: with a broke heart
Proven to be a little fighter and battling on with her heart condition :j
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Thank you for your help so far.
I'm goin to start by putting a statement of affairs together and a budget.
will put them up when finished.Make £10,000 in 2010 £20.24/ £10,0000 -
:wave: Hiya sweetie!
Welcome to the gang!
I'll look out for your SOA but in the mean time the first few posts in this thread might help you understand the strange lingo we use sometimes!
http://forums.moneysavingexpert.com/showthread.html?t=672601
Love Jacks xxx
Not everything that can be counted counts, and not everything that counts can be counted. Einstein0
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