£14000 debt-advice needed please

rosslad570

thanks-can this post now be deleted

Magentasue

Can you post the interest rates and break down the payments? Also your income.outgoings are a bit vague. Can you make some cutbacks on things like Sky, mobiles, internet at home, going out, transport etc?

Have you tried the snowballing calculator on https://www.whatsthecost.com?

If you are only making minimum payments of all of your debts, snowballing isn't an immediate option - are you paying minimum payments only?

rosslad570

ill have a look at my rates and get back to you, my rent is all inclusive, my loan is 215 and my phone averages £80. apart from that the only outgoings i have are food and enjoyin myself, oh and travel which is £100 pcm

Avogirly

I would NOT suggest consolidating as then those credit cards becoming too tempting with the £0 balances (speaking from personal experience). I would take the advice of Magentasue and try snowballing.
If you post all you incomings/outgoings then someone on here may well spot somewhere you can save.
Also is you have a grad loan they are usually at quite a low APR, but if you get another loan, it may well be at a higher %.
Have a look and post back.

skintchick

You have loads of spare money! Even letting your massive phone bill pass witout comment, if you spend (as I do) £60 a month on food, £80 on petrol and £60 on going out/sundries, you have about £500 spare!

Where's the problem?

southernscouser

Hi rosslad,

As others have said you have alot of disposable income. I would recommend you DON'T consolidate your debts.

Have a look at this thread and post the info back here and we will be able to help you better.

http://forums.moneysavingexpert.com/showthread.html?t=107280

tomstickland

The help is very simple! Cut back your spending as much as you can and put the money into paying off the debts. Move as much as possible to the lowest APR possible and pay off the high APR loans first.