Desperate to be debt free

BellaBeau

Hi, I have been lurking on this board for months but admit that I am completely lost.
I want/need to be debt free, we are paying way too much on interest on credit cards and store cards but dont have a good credit history to change them at the moment. We also have a loan to pay and a loan to a family member to pay off. I dont know the exact figures but know we are in alot of debt. As all people do, we have the day to day living expenses to pay out including petrol, food and other untilities. I think that we have buried our heads in the sand for far too long now and I want to get it sorted. If we could work at getting things paid off we wouldnt be that bad off financially.

I am cross that due to our own stupidity and over indulgence we are left in this position, however I welcome the challenge to get it worted out. My question is where on earth do I start. I have found the boards so confusing.

~Beanie~

Well you are on the right board :T , welcome!

The first think you need to do is complete an SOA (statement of affairs). There is a calculator here: http://www.makesenseofcards.com/soacalc.html

To do this properly, you will need to get all the info you can regarding your debts, amounts outstanding, interest rates etc.

Then when you have done it, post it on here and we will see what we can do to help!

beanielou

Just wanted to say hi & welcome to MSE.
It can all seem a wee bit daunting at first so just break it down into baby steps.
Look forward to seeing your SOA.