Needing to sort my life out.

Janny_Boy

HELP!!

I have around £15000 worth of debt in Credit Card and store accounts. Cannot go down secured loan as already have one for £20,000.
I need to sort this out a.s.a.p once and for all and as quickly as possible, without IVA's or declaring bankruptcy.
Can anyone advise on what to do, as i can't see a way out of this with a wife, 3 kids and a house to pay for on £16000 a year!!

Bermuda_John

Post a SOA, hope this helps. Fill in the blanks and add any extra incomings or expenditure.

Hope this helps


Incomings

Husbands salary £xxx
My income £ xxxx
Child benefit £xxx
Tax credit £xx

Total £xxxxx

Expenditure

Mortgage £xxx
Water £ xx
Council Tax £xx
Gas £xx
Electric £xx
Home insurance £xx
Telephoone £xx
TV licence £xx
Sky £xx
Life Ins £xx
Health ins £xx
Petrol £60
Tax, MOT etc £65
Grocerys £xx
Clothing £xx
Dentistry £xx

Total exp £xxxx


Balances of debts:
Overdraft £xxxxx
Personal Loan £xxxxx

Total: £xxxxx

Try and post the rates of interest.

kathfisch

Hi Janny Boy, you've come to the right place. If you can complete the incomings/outgoings details that bermuda john mentions we can try to spot areas where you could cut costs or cut back and help you find more money to put towards the debts. I don't know about your situation specifically but it can't hurt to have a chat with one or both of Consumer Credit Counselling Service or Citizens Advice, they are both FREE charities who will help to find the best solution to your problems. Best of luck x

Janny_Boy

Thank you.