Too much Debt at 20

LinB

Hi

I have roughly £3500 in debt, I am wanting to bring all my debts together. I dont want to ruin my credit rating forever, which would be the best way to do this?

Numpty_Monkey

Hi and welcome
I would advice against a consolidation loan, if thats what you are thinking of, they more often lead onto larger debts

If you want you can do an SOA, and the clever people will be able to see if you can trim your budget, and maybe help in what order to pay things
http://www.makesenseofcards.com/soacalc.html

boopydoo

Hi I'm in the same boat as you! The best thing I did was to post my State of Affairs on here. Go to http://www.makesenseofcards.com/soacalc.html and then post the state of affairs here

Be brutally honest, nobody will judge you they only want to help

I buried my head in the sand with a few debts and didn't include them and it just didn't get me anywhere!

boopydoo

Great minds think alike numpty!

Numpty_Monkey

I feel sorry for you if your mind is like mine:p:rotfl::A

Odette

I did it at 23 so you'll be fine im sure :beer:

LinB

Thanks alot .... To ruin my plans of becoming debt free I got told Iv been made redundant today!!

boopydoo

Sorry to hear that LinB but try and make sure you keep up any minimum payments on your debts while you find another job

urg123

Hi Lin B

Sorry to hear your news. It must be very worrying for you.

If you can face it, please do post your SOA - even based on what it will after you have to leave your job if that helps. We'll do what we can to help you to get it down.

Also think about what you can do to be making a bit of money to get debt free. Selling stuff on Amazon, ebay, carbooting etc.

good luck

urg x x