im in a mess

anyhelptaken

help,

I had my LBM a couple of months ago when I realsied that my o/d was not going to last much longer.

I share a mortgage with my sister for our house, which my mother also lives in, they are unaware of the state of my debt, my currtent debt that is, as my sister took out a loan for me 3 years ago to clear of CCards and i am still paying that back at a rate iof £254.00 per month, I know i should fillout a SOA which i tried but it will not accept some of the answers (the soa, not me!)

My income a month is a little over £1200.00 within this i can easily pay my half of the mortgage at £794 and loan to my sister, but last year i was asked to take out a loan form the bank last year to cover my O/D which costs me a furthe £103.00 per month over 5 years.

As my sister and i have the morgage to feel part of things Mother pays the council tax, electricity etc, so i dont have those to pay.

I also own my own car, paid of last year.

Hears the sting, as well as a £3500 o/d i also owe £28,000 on credit cards.

I can afford one set of things bit not the other.

please make suggestions, as most of my stupidity was in using credit cards to buy clothes and transfer balance from one to another and then still using them, i am selling stuff on e bay.

I scared my self whitless when i contacted a debt helpline and they wanted me there then to IVA, i really need help.

RAS

Welcome

Unless the debt helpline you spoke to is listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help please ignore the advice.

Speak to NDL or CCCS.

You have also GOT to talk to your sister. As you have a joint mortgage, your financial situation affects her credit rating as well, and she will find out sometime.

Tixy

Hi:hello: , welcome to the boards and well done for taking the first step and posting.

To be able to help we really do need to see an SOA. I think you're probably having problems because you don't have certain bills. CT, elec etc. Put a nominal figure in for these say £10 each and then deduct this from the mortgage amount to give you an overall correct expenditure. Then you can just make a note on your SOA post on here thats what you've done.

Hopefully we can then suggest where you can cut back. However you need to stop spending any extras you don't need to, running up old credit cards after doing a BT is a common problem seen on here and you need to change the cause of the problem as well as working out how to pay off the debt you have. I'd suggest you start a spending diary (write everything down) if you haven't yet so you can establish exactly where all your money is going.

Tixy.

anyhelptaken

I have already taken all my CCards out of my purse, they are to 8 different lenders, really a whos who to credit cards, i know have to tell my family soon but have been trying to come up with an answer before i disapoint them big style, each time they have helped me and i feel like i have kicked them in the teeth, i am almost crying now, so disapointed in myself, and for them.

My main thought is to keep the house over our head.

i do earn an extra £40 pe rweek doing a job in a pub.

RAS

You need to speak to one of the debt charities and you can put an SOA on here.

Look a the boost your income thread as well.

Fire_Fox

anyhelptaken wrote: »

I have already taken all my CCards out of my purse, they are to 8 different lenders, really a whos who to credit cards, i know have to tell my family soon but have been trying to come up with an answer before i disapoint them big style, each time they have helped me and i feel like i have kicked them in the teeth, i am almost crying now, so disapointed in myself, and for them.

Well done, now cut them into tiny pieces. Don't get too stressed about what is passed, you have come to the right place. :A

anyhelptaken

Tyhank you for the words of support, tried to fill out the SOA again yesterday and somehow pressed the wrong button and it disapeared, so i went on to the CCCs page and filled out theres, they said i neede to increase my income by £141 per month before i could offer anything in to my creditors.

Oh well

beanielou

Look forward to you popping up your SOA on here.
Is there any way you can increase your income?