Help!!!!! Advice needed on what I could be doing better

missdee_3

Hi

I've read lots of the threads on here and hoped that some of you might be able to offer some advice on what I could be doing better.

I accrued quite a lot of debt in my early twenties- about £26000 if I'm honest- through over-spending and using credit cards/loans/etc to offset the debt.

At 25 I decided to go back to uni and realised I couldn't keep up the high repayments and study so I approached a debt management company for help. This was useful as they dealt with all the nasty threatening stuff whilst I got on with my degree.

I've just graduated (2:1- go me!!!) and managed to bring the debt down to £18000 by working as much as possible in holidays and weekends. However, I've reviewed the paperwork and I'm paying the debt managers £50 a month which could go towards paying off the loans/etc. I've also just moved into a place with my partner and money is very tight, mainly because of my monthly repayments. There is literally no financial buffer for us if the boiler explodes, for example.

I suppose the question I'm asking is, should I keep on with the current situation or look for an alternative? And if I should look elsewhere for help, who and where would be best? It's not an ideal outcome for me personally but is bankruptcy an option I shoud consider?

Oh so many questions!!!! Thank you in advance for your answers and opinions, all views would be appreciated.

MissDee

Horace

Hi and welcome

Please can you post your SOA (statement of affairs) using this link: https://www.makesenseofcards.com/soacalc.html - there is a button called MSE so that you can configure it to this board.

Have you spoken to any of the debt charities? CCCS and National Debtline as they may be able to help you so that you can possibly stop paying the debt management company £50 a month. I am sure others will come along who are more experienced in this field who can offer advice.