Huge Loan, Need Help If Poss!

hkaok

Hello everyone,

I am sitting here having my daily dilemma of what to do if anything.

I have a loan which at the time of taking out (this yr) was £19k, this paid for a private course I did, new car and credit cards. I in fact originally took it out last year but have refinanced twice (shouldn't have) to 'tack' other things on. I have a cc bal of about £350 but that's pretty manageable to pay off.

My loan was over 7 years. I am paying £320 per month on repayments.

I'm stuck doing a job I don't like and don't feel considering retraining at college or uni is an option because of the debt I already have. I'm only in my 20's. It is not particularly manageable on my salary after other outgoings going out. It is leaving me overdrawn every month now which I hate. If my situation changes, it will be completely unmanageable.

I don't know what to do, I just feel I have this heavy burden and my life is on hold for 7 years.

I have come on here to ask of any advice or possible other options open. I know it's a long shot but any help/support would be really appreciated

Thank you in advance

mum2one

You have done the 1st and the hard bit, you have obviuosly looked at your money and instead of burying ur head, your saying hi....I need help......

The 1st thing you need to do is prepare an SOA (statement of affairs), listing all outgoings, incomings, money owed, at total, apr, months left.

There be others who are a bit more orgainsed than me, but were all here to help each other out. xx

hkaok

mum2one wrote: »

You have done the 1st and the hard bit, you have obviuosly looked at your money and instead of burying ur head, your saying hi....I need help......

The 1st thing you need to do is prepare an SOA (statement of affairs), listing all outgoings, incomings, money owed, at total, apr, months left.

There be others who are a bit more orgainsed than me, but were all here to help each other out. xx

Thank you for that, will look into doing that later.

Just pleased I've found this website xx

Bismarck

hkaok wrote: »

Just pleased I've found this website xx

you and me both!

you've done the toughest part....the site will help even up the odds and keep you on track...you can also make some great virtual friends!

thepinkladez_2

welcome to the site! like the others say you have doen the hard bit by posting! you will be able to get lots of useful help and advice here. Have a go at posting your soa and then we will all see what changes you can mke etc.

Horace

Welcome to the site.

Post your SOA using this handy link https://www.makesenseofcards.com/soacalc.html

tallyhoh

How about selling the car before it gets any older & buying an older one. Do you actually need a car, or is public transport an option?