Help Please - Debt Under £1000

missgiggles2008

Thank you so much for your kind words - i am hoping this second income will help me pay off the debt quicker.

I just worry as i said before - my mum said all debt was bad - which i think is slightly inaccurate - because i would say most people in some way or another have some form of debt - be in on their house, credit cards, loans etc.

You have been real help - i think what i will do is try and throw any money i have at the debt and then at the end of the month any money left over put it towards that as well - as well as having "a life as well".

Thanks all!

missgiggles2008

Can anyone tell me whether they think i have a debt problem? I really worry about my situation (and i feel guilty compared to others worse off than me on here).

GunJack

giggles - you can safely pay your debt off in 3 months, without any hardship or need for a second income!! You are very lucky in that respect. If you have £700 AFTER your regular outgiongs, this should be easy-peasy.....a few less beers a night, few less takeaways, you'll be suprised how much you probably waste each month on stuff like that. If I was single and lived with parents, I'm sure I could live on £20-£30 a week in "pocket-money", which is in effect what your £700 a month is at the moment.

No, you don't have a debt problem, or at least you won't if you pay what you owe now, and keep up the VERY healthy adverse attitude you have toward debt....do it, you'll feel so much better if you do:D

missgiggles2008

Thanks - i know i am fortunate - do you think if i was a "normal" person living in a flat etc and not living with my parents that maybe £1000 is alot?

Or am i looking at things the wrong way?

Thanks for your help

themagics

hi miss giggles as people have already said before i wish i only had ur amount of debt mine and my husbands currently stands at £50,000.which accumulated very quickly you have however got youth on your side and what sounds like a wise head on ur shoulders debt is very easy to get into and you are worrying about it because of what your mum has brought you up with does she know by any chance about your situation.with all your surplus you could easily clear it before christmas and possibly use the forth coming festivities as a screen to hide behind for your cut backs if your mum doesn't know and you don't want to tell her because obviously to clear it quickly your life style would change dramatically for a couple of months which wouldn't go unnoticed.

missgiggles2008

I see what you mean yes.

My mum doesn't know, i got given £750 from my grandparents to pay if off, but feel ashamed to tell my mum (her parents) that i have gone back into my overdraft.

I hope you don't view this as minor, because it is important to me that i get things straight in my head.

How do you manage with your debt?

Thanks x

poorandindenial

Hi missiggles

Your debt is whatever it is to you, don't feel guilty about having too much debt but at the same time if the right amount for you is zero then any amunt will distress you. Personally I had no problem with my £30k+ debt until one day I woke up and wanted to pay it off, yet my parents come out in a cold sweat if they borrow a tenner off a friend.

I manage with my debt by just getting on and doing, if I let it take over my life then that would be awful, but at the same time I can't ignore it or it will get out of control, you just have to get a balance.

missgiggles2008

I am in a quite weird position because at 21 i had my first job from uni running a care home for mental health patients! on my own! The relevance here is at that age i realised some of the patients had lots of money, others none at all. i grew up fast - but i just keep going back to when i was growing up and my parents themselves grew up with thinking all debt is bad.

I think debt isn't a bad thing unless you cannot manage it..

I just want to know that im ok and have the right way of looking at things...

well done with your debt, you have been paying off lots!

thanks x

themagics

yes i can understand not wanting to let them know you've not paid it off your mum would be mortified you need to sort it though as i know you already know because god forbid if it gets any worse it will affect your parents credit rating as its their address you live at and they may find out eventually but hey not here to be gloomy thats not we're about.as for our debt we took up with payplan two years ago but we were in alot deeper than you hun. they have been great sorting out a budget etc and dealing with the creditors but we were naive in thinking that it was all sorted its not even with an agency help you the creditors sell each other your debts and keep chasing you its very draining but i did find telling my parents helped it was a weight lifted and I didn't have to make excuses about not being able to afford things specially as I have just gone back to full time work after having the kids it didn't make sense to my parents that we had two wages coming in but couldn't do holidays etc.it was a shock for them but i can talk freely about it and my mum doesn't judge me anymore for going to work and leaving my kids with childminders because she used to make my life hell over that and now she helps out with them in the hols.

missgiggles2008

Awww bless you, you have done really well, and bet the weight is slowly being lifted.

She would be disappointed really i think, more than anything. I only live with my mum, as my mum and dad have separated.

I have just got through my credit report from experian actually and have 1 "3" and that is the worst i have on it. My credit card i always pay off and my overdraft is a graduate one that expires jun 09 when it ceases to be interest free. I kno what you mean though, it can soon spiral out of cntrol - guess i could see things as oh well i live at home, why cant i buy that and that....

thanks for your help,