Newbie would like to say Hi!

MissOptimistic

Hello everyone
I have been an avid visitor to the DFW boards for over a year now, but always preferred to keep a low profile. However, I am finding the burden of being in debt too much to cope with at the moment and so I thought it would help me maybe if I could receive the advice and support of others through this forum. When you are in debt and overwhelmed by it all it can be a very lonely place to be.
I know exactly how much I owe and it is staggering (£73705.41 to be exact). It is very hard for me to post an SOA with my incomings as I am self employed and it varies from week to week (suffice to say the 'credit crunch' is not helping). I have read enough SOA's to know that I have trimmed my expenses as much as is possible, and my fixed term on my mortgage runs out on 31 Dec meaning my mortgage is due to go up with a bump.
I do have some equity in my house (enough to clear half the debt) but houses just aren't selling at the moment and it would cost me to put it on the market (what with HiP costs etc)
I am sorry for rambling but I feel so alone and frustrated, I feel like I am at the mercy of the recession just sat here waiting to go under
Thanks for listening !
P.S - I pay all my loan and credit cards and have never had so much as a late payment, but I often have to use them to keep my head above water and they are slowly rising with every month that passes

paybacktime2008

I'm only new here myself but finding the whole process quite cathartic (big word for this time of night!) I don't think there is anything more I can say except good luck!

claireabelle_2

:hello: Welcome Miss Optimistic :hello:
Look forward to hearing about your progress... you sound like you have the right attitude to tackle those big bad debts - have you got yourself a spreadsheet? My biggest motivation has been the graph with the total balance inching down
best of luck
Claire

MissOptimistic

Thank you Payback and Claire! - you are very kind to take the time to reply, although I am alone in this, it means a lot that there are others out there who care enough to take the time to make me feel better
Thank you

Pippilongstocking

Hello there - nowt much I can add but that - the what small things thread keeps me sane - worth a read for a chuckle if nowt else xx

Oldstyle board is awesome too - infact its all good - if you can say your debt outloud then thats such an amazing start!

paybacktime2008

Aha you've added a challenge to your signature! See you're on the ladder already!

MissOptimistic

Yeh I love a challenge!
Have been Ebaying, Quidco-ing and selling on amazon so should make the £10 a day challenge, but it just feels like a drop in the ocean

paybacktime2008

Oceans made up of drops!

Airwolf1

Am I reading it correctly that you pay your credit cards in full each month?

I'd still post SOA, there may be the odd thing that you may have overlooked, or someone else may come up with a different idea on how to deal with something. What is your current interest rate on the mortgage? Mine is up for renewal, I'm with NR and its currently 4.89%, I know I won't get that, but there is one quite close to it.

savingholmes

Hi - have you moved every debt you can to interest free?

bargainbetty

Hi there,

Just a thought, but do you live alone? Could you rent out a room to raise money? I got a flatmate after living alone for three years and not only do I have extra income (tax free below a certain threshold) but I also have a great friendship with him.

Being self-employed, could you take a second job to bring in extra?

Have you checked out the old style boards for advice on cutting household costs too? They are great over there....

Good luck, and welcome.

I'd echo the suggestion about posting the SOA, even just expenditure.