Everyday debt struggle

Bazzaxfx1980

Hi there!
I have just joined the forum and it has taken me quite a bit of courage to talk to people about my problem even my family havent got a clue! I find myself in debt to the sum of £37k and everyday life is constantly a struggle now, i know its been my own fault being previously compulsive shopper as well as gambler and im not proud of that fact. I have started trying to arrange some GA meetings near where i live! £20k was spent on my car so i have something maybe with value to get something back. My net pay is approx £1200 a month so i shouldnt be hard up in my situation but im lucky if i have £100 tops left over for toiletries etc basically i feel totally flat and depressed with my life. I just really need advice please help! Thank you!

tomstickland

Right, get onto Parkers.com and https://www.autotrader.com and see what you could sell your car for. Polish it up, sell itand buy something else for £1.5K and then put whatever you get straight away into into the debt, you could probably halve it.
If you could kill off some of the debt like that then you're monthly interest will drop a lot and you can then set to paying off the money owed. £1200 per month should allow you scope for paying off a few hundred per month.

Chin up, this is all about getting control of your destiny. Once you start to take control you'll feel a lot better and will be able to plan for the day that you clear the debt.

johannamse

Tom is spot on. Great advice. Why don't you try to get together all your outgoings over the weekend and post them on here for us to have a look at. You are young and you can get out of this. You have to be very single minded though. Most people spend years with their head in the sand. Look upon this situation as an opportunity to change your future forvever.

FieryBlondeScot

If it is things like credit cards, catalogues, bank debts etc i would definetly urge you to call the Consumer Credit Counselling Service, they are brilliant at dealing with creditors and it will be such a weight off your mind, they reduced my monthly debts from something like £460 to £299 per month, halted all interest and late payment fees money is still damn tight but at least i can stop worrying quite as much about my wages being swallowed up every month. combine this with following all the other moneysaving tips on this site to include switching elec, phone, mobile, gas suppliers etc and cheaper ways to shop and you'll get there

good luck

Entrepreneur_en_faillite

The first thing I would do is tell your family - a problem shared etc.

Then, like Tom said, sell the car and buy something cheaper.

If all else fails, FBS is right CCCS are brilliant - they will help you see the light of day https://www.cccs.co.uk or 0800 138 1111

The first step on the path to recovery is to recognise the problem, after this most difficult step of all, the following steps get easier and easier. You have taken the first step, the rest of the journey gets easier

Good luck!

summerday

Hugs to you. You are 100% doing the right thing by sorting it all out, even though you're feeling deprived by the sounds of it.

Don't lose sight of the overall picture- what brings more happiness and peace of mind that knowing you're doing all you can to ensure your and your family's financial security? It will be a shock to the system not having much to spend any more but in time you will realise that you can get pleasure out of just small 'treats' and things that don't even cost money at all.

So many people have been in your situation before, yet have come out the other side a much stronger and different person. I am sure the same will happen to you. Hard as it is, just stay positive and strong to get through this worst bit, and keep posting here as there are lots of people who can understand.

Take care, Sarah.

JAMIEDODGER

hi there! have you posted your SOA yet? there are great people on this board that can help you reduce outgoings and have maybe more money to throw at your debt.